Quantitative Operations Associate

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Job Description:
This job is responsible for developing and maintaining models for the line of business, including volume forecasts, capacity plans, and vendor models. Key responsibilities include presenting findings to key stakeholders and ensuring compliance to Model Risk Management (MRM) standards. Job expectations include strong quantitative skills and experience in time series forecasting, simulation modelling, operations research, and analytics.

The Data & Modeling team in Global Operations Data, Reporting & Operations Management is looking for a motivated individual with strong quantitative skills and experience with time-series forecasting, capacity planning, simulation modeling, and/or operations research. This individual will be responsible for developing and maintaining strategic volume forecasting and capacity planning models with the goal of maintaining optimal staffing levels across Global Operations. In addition, the position will assist with efforts to ensure models adhere to Model Risk Management (MRM) standards. The ideal candidate will have a keen eye for detail, a strong sense for modeling complex operational systems, and excellent verbal and written communication skills.  Responsibilities include:

• Develop and maintain volume forecasting, capacity planning, and resource optimization models
• Help modernize existing volume forecasting and capacity models using advanced predictive modeling, simulation and optimization techniques
• Assist in driving volume and capacity modeling consistency and innovation across the team
• Routinely partner with the Front Line Units (FLUs) to generate best in class outcomes
• Conduct routine model production and performance presentations with executive leadership
• Evaluate new opportunities and implement enhancements to current capacity model inputs, processes, and outputs
• Help with documentation and other efforts to adhere to Model Risk Management (MRM) guidelines

Responsibilities:

• Develops and maintains models for the line of business, including volume forecasts, capacity plans, and vendor models
• Drives horizontal consistency in model development and usage across peer groups
• Conducts routine model production and performance presentations with executive leadership
• Ensures adherence to Model Risk Management (MRM) requirements
• Supports ongoing model monitoring to improve forecasting performance and efficiency

Required Skills:

• Bachelor’s degree in Statistics, Applied Economics, Industrial Engineering, Mathematics, Operations Research, Analytics, Finance or other STEM field
• 2+ years of experience in quantitative roles modeling complex systems
• Fundamental understanding of linear regression and time-series modeling, discrete event simulation, and/or optimization techniques, through education or professional experience
• Proficient in MS Office, particularly Excel
• Experience with SAS, Python, R, or similar statistical software
• Experience with Arena or similar discrete event simulation software
• Experience with SAS OR, GAMS, XPRESS, CPLEX, or similar optimization software
• Ability to work in a team-oriented environment with strong aptitude for problem solving and collaboration
• Strong communication and interpersonal skills - specifically the ability to communicate complex ideas in a clear and concise manner to key stakeholders
• Natural curiosity and drive to answer important business questions
• High aptitude for self-motivation and self-determined project work in a fast-paced and rapidly changing environment

Desired Skills: TBD

Skills:

• Analytical Thinking
• Business Intelligence
• Data Modeling
• Data Visualization
• Data and Trend Analysis
• Attention to Detail
• Collaboration
• Data Management
• Data Mining
• Presentation Skills
• Consulting
• Problem Solving
• Risk Management
• Stakeholder Management
• Technical Documentation

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)Pay and benefits informationPay range$84,600.00 - $130,800.00 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.