Quantitative Engineer

Description

Quantitative engineers in Global Risk are responsible for designing and implementing common, reusable, and scalable software components. These components enable GRM’s data and analytical capabilities. These components can be domain independent (e.g., generic data quality tools over trillions of rows of data) or domain specific (e.g., classification models for surveillance or testing framework for Global Markets processes). Quantitative engineers work with modelers, risk managers, and technologists to understand the current state and design the future state of data and analytics. Quantitative engineers have a combination of software engineering, big data, and modeling skills and the ability to work across the entire spectrum of a big data stack – from data to logic to model to UI to UX.

Responsibilities :

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

Understanding financial data : schemas, flow, size, data issues, data controls, etc.

Building performant big data pipelines

Use programming skills and knowledge of software development lifecycle principles todeliver high quality code for model and testing processes

Collaborate with key stakeholders across the Bank to understand modeling and testing business processes and requirements

Think outside the box of current industry standards to develop innovative approaches

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

Source and evaluate data required for modeling and testing

Design and develop and implement models and tests

Produceclear, concise and repeatable technical documentation models and tests for internal and regulatory purposes

Team Overview :

Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) are sub-lines of business within Global Risk Management (GRM). Collectively, they are responsible for developing a consistent and coherent set of models, analytical tools, and tests for effective risk and capital measurement, management and reporting across Bank of America. GRA and EIT partner with all the Lines of Business and Enterprise functions. GRA and EIT include vertical (i.e., business or risk-specific) functions and horizontal functions that cut across business and risk-types. A core pillar of our horizontal strategy is developing common, reusable, and scalable components that can be used across GRM. Quantitative engineers will be responsible for executing on this strategy.

Skills :

Candidates should meet all or a subset of the followingtechnical skills : -

Software engineering : modular code, software lifecycle processes, unit testing, regression testing

Big data : distributed computing paradigms (e.g., mapreduce, dataframes, etc), optimizing distributed software

Modeling / quantitative : basic modeling techniques (regression, classification, clustering, etc)

Minimum Education Requirement :

Bachelor’s degree in Computer Science, a closely related field, or a degree from a program where software engineering was a key focus or equivalent work experience

Qualifications :

At least 2 years of relevant experience in software engineering in Quantitative Finance or other industries

Strong Programming skills (e.g., Python) and solid understanding of Software Development Life cycle principles

Candidates should have at least one of these following skills and preferably have at least two of these skills : -

Strong analytical and problem-solving skills

Experience applying quantitative methods such as modelling, data analytics, machine learning, and statistics to develop business solutions

Experience with large scale data sets with structured or unstructured data

Experience in building user facing applications over large amounts of data using technologies like React, Angular, JavaScript etc.

Experience implementing process improvements and automation

Shift :

1st shift (United States of America)

Hours Per Week : 40

Pay Transparency details

US - IL - Chicago - 540 W Madison St - Bank Of America Plaza (IL4540), US - NJ - Jersey City - 525 Washington Blvd (NJ2525)Pay and benefits informationPay range$89,800.00 - $153,300.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and / or group; and the overall success of the Company.BenefitsThis role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.