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Bank of America Quantitative Finance Analyst in Chicago, Illinois

Quantitative Finance Analyst

Charlotte, North Carolina;Jersey City, New Jersey; Atlanta, Georgia; Newark, Delaware; Chicago, Illinois

Job Description:

Overview of Global Risk Analytics:

Bank of America Merrill Lynch has an opportunity for a Quantitative Finance Analyst within our Global Risk Analytics (GRA) function. GRA is a sub-line of business within Global Risk Management (GRM). GRA is responsible for developing a consistent and coherent set of models and analytical tools for effective risk and capital measurement, management and reporting across Bank of America. GRA partners with the Lines of Business and Enterprise functions to ensure that its models and analytics address both internal and regulatory requirements, such as quarterly Enterprise Stress Testing (EST), the annual Comprehensive Capital Analysis and Review (CCAR), and the Current Expected Credit Losses (CECL) accounting standard. GRA models follow an iterative and ongoing development life cycle, as the bank responds to the changing nature of portfolios, economic conditions and emerging risks. In addition to model development, GRA conducts model implementation, data management, model execution and analysis, forecast administration, and model performance monitoring. GRA drives innovation, process improvement and automation across all of these activities.

Overview of the Role:

The Quantitative Financial Analyst interacts with a wide variety of stakeholders including risk managers, model developers, operations, technology, finance, and capital. The Analyst will identify, lead, and organize strategic change efforts across the team including new model deployment and analytical capability development. As a Quantitative Finance Analyst within Global Risk Analytics, your main responsibilities will involve:

  • Applying quantitative methods to develop capabilities that meet line of business, risk management and regulatory requirements

  • Maintaining and continuously enhancing capabilities over time to respond to the changing nature of portfolios, economic conditions and emerging risks

  • Understanding and executing activities that form the end-to-end model development and use life cycle

  • Identifying requirements from the teams which improve the group’s ability to generate insights and understanding of portfolio risk, model accuracy, and forecast reason-ability

  • Clearly documenting and effectively communicating quantitative methods as part of ongoing engagement with key stakeholders, including the lines of business, risk managers, model validation, technology

Position Overview:

Responsible for independently conducting quantitative analytics and modeling projects. Responsible for developing new models, analytic processes or systems approaches. Creates documentation for all activities and works with Technology staff in design of any system to run models developed. Incumbents possess excellent quantitative/analytic skills and a broad knowledge of financial markets and products..

Required Education, Skills, and Experience:

  • Graduate degree in quantitative discipline (e.g. Mathematics, Economics, Engineering, Finance,

  • Physics)

  • 2+ years of experience in model development, statistical work, data analytics or quantitative research, or PhD

  • Strong Programming skills e.g. R, Python, SAS, SQL, R or other languages

  • Strong analytical and problem-solving skills

  • Strong communication skills and ability to effectively communicate quantitative topics to technical and non-technical audiences

  • Effectively presents findings, data, and conclusions to influence senior leaders

  • Ability to work in a large, complex organization, and influence various stakeholders and partners

  • Strong team player able to seamlessly transition between contributing individually and collaborating on team projects;

Desired Skills and Experience:

  • Experience with complex data architecture, including modeling and data science tools and libraries, data warehouses, and machine learning

  • Knowledge of predictive modeling, statistical sampling, optimization, machine learning and artificial intelligence techniques

  • Ability to extract, analyze, and merge data from disparate systems, and perform deep analysis

  • Experience designing, developing, and applying scalable Machine Learning and Artificial Intelligence solutions

  • Experience with data analytics tools (e.g., Alteryx, Tableau)

  • Experience with LaTeX

  • Sees the broader picture and is able to identify new methods for doing things

  • Broad understanding of financial markets and products


1st shift (United States of America)

Hours Per Week:


Learn more about this role

Full time


Manages People: No

Travel: Yes, 5% of the time


Talent Acquisition Contact:

Referral Bonus:

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

To view the "EEO is the Law" poster, CLICK HERE at .

To view the "EEO is the Law" Supplement, CLICK HERE at .

Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

To view Bank of America’s Drug-free workplace and alcohol policy, CLICK HERE .