Quantitative Finance Analyst

Bank of America • Chicago, IL

2d • $89,800 - $155,000 • Onsite

About The Position

This job is responsible for conducting quantitative analytics and modeling projects for specific business units or risk types. Key responsibilities include developing new models, analytic processes, or systems approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations include having a broad knowledge of financial markets and products.

Bank of America has an opportunity for a Quantitative Financial Analyst within the Global Risk Analytics (GRA) organization. GRA is part of Global Risk Management (GRM) and is responsible for developing a consistent and coherent set of models and analytical capabilities for effective risk and capital measurement, management, and reporting across the bank. GRA partners with the Lines of Business and Enterprise functions to deliver solutions that address both business and regulatory requirements while remaining responsive to evolving portfolios, economic conditions, and emerging risks. Through its work, GRA drives innovation, process improvement, automation, and analytical excellence.

The Consumer Model Development & Operations (CMDO) team is part of Global Risk Analytics. It provides quantitative solutions to enable effective risk and capital management across the Retail and Global Wealth & Investments Management (GWIM) lines of business. The team places strong emphasis on delivering world class quantitative solutions for Front Line Unit (FLU) model owners and stakeholders through a disciplined and iterative development process. The team has responsibilities across a number of areas:

Quantitative Modeling – Develop and maintain risk and capital Models and Model Systems across Retail and GWIM product lines. Models and Model Systems provide insight into many risk areas, including loan default, exposure at default (EAD), loss given default (LGD), delinquency, prepayment, balances, pricing, risk appetite, revenues and cash flows.
Quantitative Development – Architect, implement, maintain, improve and integrate quantitative solutions on strategic GRA platforms. Outputs include GRA libraries that perform consumer risk model calculations, analytical tools, processes and documentation. Partner in defining, adopting, and executing GRA’s technical strategy.
Risk and Capital Management Capabilities – Build best in class quantitative solutions that enable the Retail and GWIM lines of business to effectively manage risk and capital, through the application of the disciplined BAU development process that includes extensive interaction with the FLU model owners and stakeholders throughout the quantitative lifecycle.
Infrastructure – Partner in driving forward the infrastructure to support the goals of GRA through code efficiencies, and expansion of quantitative capabilities to better leverage infrastructure and computational resources.
Documentation – Deliver concise, quantitative documentation to inform stakeholders, meet policy requirements, and enable successful engagement in regulatory exams (e.g., CCAR, CECL) via automated, modularized, and standardized documentation and presentations.

Requirements

• Masters or PhD in Computer Science, Engineering, Statistics, or similar discipline, and a minimum 2 year relevant experience.
• Ability to work in a large, complex organization, and influence various stakeholders and partners
• Self-starter; Initiates work independently, before being asked
• Strong team player able to seamlessly transition between contributing individually and collaborating on team projects; Understands that individual actions may require input from manager or peers; Knows when to include others
• Strong communication skills and ability to effectively communicate quantitative topics to technical and non-technical audiences
• Experience with engineering complex, multifaceted processes that span across teams; Able to document process steps, inputs, outputs, requirements, identify gaps and improve workflow
• Strong programming skills, e.g. Python, R, or similar language
• Strong analytical and problem-solving skills

Nice To Haves

• Strong Python development skills with experience leveraging AI/ML frameworks and software engineering best practices, including Git, CI/CD, and automated testing.
• Experience designing, developing, and maintaining scalable software applications, data pipelines, and processing solutions using Python, SQL, and distributed computing technologies in enterprise environments.
• Proven ability to translate business requirements and analytical models into production-ready applications, including consumer behavior, credit risk, and stress testing model implementations.

Responsibilities

• Champion the integration of AI capabilities into existing applications, workflows, and analytics platforms to improve efficiency, automation, and decision-making.
• Implement, maintain, and enhance analytical models supporting customer decisioning, consumer behavior analytics, credit risk assessment, and stress testing initiatives.
• Translate business requirements and model specifications into scalable production solutions using Python, SQL, and enterprise data platforms.
• Develop and support model execution, validation, monitoring, and deployment processes while partnering with business, analytics, and technology teams to ensure reliable implementation and operational performance.

Benefits

• Access to paid time off
• Resources and support to our employees
• Discretionary incentive eligible
• Annual discretionary award based on individual performance, line of business performance, and company success.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level