Discrete Event Simulation Engineer Jobs in Chicago, IL

Job Description:

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!

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.