Finance STEM OPT Jobs in Illinois

INTRODUCTION

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

ROLE AND RESPONSIBILITIES

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.

• Participate in research, development, and implementation of credit risk concentration models.
• Perform econometric analyses to support methodology development.
• Conduct on-demand analyses of model output and changes.
• Provide ongoing production support for models in use.
• Develop a practical understanding of credit risk trends (e.g., financial performance of counterparties), concentrations (industry, country, and single-name).
• Analyze macroeconomic indicators and recommend key credit portfolio decisions for senior management and Board-level discussions.
• Collaborate with global teams to provide analytical support for leadership decision-making.
• Perform data exploration analyses on large datasets and pull insights to support portfolio management decisions.
• Perform financial modeling, analysis, and data collection, as well as interpret market and portfolio information, statistics, and pricing.
• Analyze and evaluate large and complex economic and financial datasets using analytical tools such as Python, SQL, and R.
• Use big data technologies like SQL to handle large volumes of data produced by complex financial forecasting models.
• Implement advanced high-performance Python code for large-scale distributed computing environments in Apache Spark and Hadoop/HIVE to develop scalable, reusable analytical and quantitative models.
• Utilize current modeling and data science principles, including time-series analysis and machine learning, to develop loan loss modeling frameworks.
• Remote work may be permitted within a commutable distance from the worksite.

BASIC QUALIFICATIONS

• Master's degree or equivalent in Finance, Statistics, Mathematics, or related; and
• 2 years of experience in the job offered or a related Quantitative occupation.
• Must include 2 years of experience in each of the following:
• Building scalable, production-grade analytical framework using Python large-scale distributed computing environments in Apache Spark and Hadoop/HIVE, SQL, Tableau, Alteryx including development of modular, reusable model components and automation of end-to-end data processing workflow;
• Developing and deploying financial forecasting models including implementation of monitoring routine, performance diagnostics, testing, and investigation of model outputs;
• Performing time-series analysis, multivariate regression, and econometric modeling on large financial datasets to identify structural, cyclical, and trend-based risk dynamics;
• Applying advanced statistical, econometric, and machine learning techniques to develop quantitative forecasting and risk measurement frameworks supporting enterprise-level portfolio and capital management processes; and,
• Integrating and analyzing diverse financial and alternative datasets—including market activity, firm level microeconomic indicators, sector performance metrics, consumer behavior trends, and macroeconomic variables—to support advanced quantitative risk assessment and concentration analysis.

SHIFT

1st shift (United States of America)

HOURS PER WEEK

40

EMPLOYER: Bank of America N.A.