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Senior Model Risk Management Jobs in Illinois (NOW HIRING)

Bank of America

Sr. Quantitative Engineer

Chicago, IL · On-site

$107K - $147K/yr

Job expectations include working with senior modelers, risk managers, and technologists to understand the current state and design the future state of data and analytics. Responsibilities: * Seeks ...

Bank of America

Sr. Quantitative Engineer

Chicago, IL · On-site

$155 - $202/hr

Job expectations include working with senior modelers, risk managers, and technologists to understand the current state and design the future state of data and analytics. Responsibilities * Seeks ...

Hobbsnews

Sr. Quantitative Engineer

Chicago, IL · On-site

$155 - $202/hr

Job expectations include working with senior modelers, risk managers, and technologists to understand the current state and design the future state of data and analytics. Responsibilities * Seeks ...

inlandgroup

Director of Risk Management

Oak Brook, IL · On-site

This is a highly visible, senior-level role with broad exposure to executive leadership and ... Inland Risk Management operates as a shared service model, offering the opportunity to collaborate ...

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Senior Model Risk Management information

What is the difference between Senior Model Risk Management vs Model Validation Analyst?

AspectSenior Model Risk ManagementModel Validation Analyst
CredentialsAdvanced degrees in finance, statistics, or related fields; certifications like FRM or CFASimilar credentials; often holds CFA, FRM, or related certifications
Work EnvironmentStrategic oversight, risk assessment, policy development within financial institutionsHands-on model testing, validation, and documentation in quantitative teams
Industry UsageUsed across banking, insurance, asset management for risk governancePrimarily in banking and financial services for model validation roles

While both roles require quantitative expertise and relevant certifications, Senior Model Risk Management focuses on overseeing and managing model risks at a strategic level, whereas Model Validation Analysts concentrate on testing and validating models to ensure accuracy and compliance.

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Senior Model Risk Management jobs near you
Infographic showing various Senior Model Risk Management job openings in Illinois as of August 2026, with employment types broken down into 100% Full Time. Highlights an 72% In-person, 14% Hybrid, and 14% Remote job distribution.

Sr. Quantitative Engineer

Bank of America

Chicago, IL • On-site

$107K - $147K/yr

Full-time

PTO

Posted 17 days ago

Key responsibilities

  • Design and oversee the implementation of common, reusable, and scalable software components that support data and analytical capabilities.

  • Partner with senior stakeholders to understand modeling and testing requirements, and develop capabilities to meet business, risk management, and regulatory needs.

  • Build and maintain performant big data pipelines, and develop models and tests while providing technical documentation for internal and regulatory purposes.

Bank Of America rating

8.3

Company rating: 8.3 out of 10

Based on 536 frontline employees who took The Breakroom Quiz

49th of 175 rated banks

Job description

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 designing and overseeing common, reusable, and scalable software components which are either domain independent (e.g., generic data quality tools over billions of rows of data) or domain specific (e.g., classification models for surveillance or testing framework for Global Markets processes). Key responsibilities include enabling Global Risk Management's data and analytical capabilities. Job expectations include working with senior modelers, risk managers, and technologists to understand the current state and design the future state of data and analytics.
Responsibilities:
  • Seeks opportunities for consistent improvement in quality, efficiency, and processes
  • Partners effectively with senior stakeholders within Global Risk Analytics and Enterprise Independent Testing, Front Line Units, Technology, Audit and Compliance
  • Provides leadership and oversight to less experienced team members
  • Applies quantitative methods to develop capabilities that meet line of business, risk management and regulatory requirements
  • Understands financial data: schemas, flow, size, data issues, data controls, etc.
  • Builds performant big data pipelines
  • Uses programming skills and knowledge of software development lifecycle principles to deliver high quality code for model and testing processes

Senior Quantitative engineers in Global Risk are responsible for designing and overseeing the implementation of 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 billions of rows of data) or domain specific (e.g., classification models for surveillance or testing framework for Global Markets processes). Senior Quantitative engineers work with senior modelers, risk managers, and technologists to understand the current state and design the future state of data and analytics. Senior Quantitative engineers have a combination of software engineering, big data, modeling and management 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.
Job Responsibilities:
  • Seek opportunities for consistent improvement in quality, efficiency, and processes
  • Partner effectively with senior stakeholders within GRA & EIT, Front Line Units, Technology, Audit and Compliance
  • Provide leadership and oversight to less experienced team members
  • 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 to deliver 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
  • Produce clear, concise and repeatable technical documentation models and tests for internal and regulatory purposes

Technical 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.)

Soft Skills:
  • High level of intellectual curiosity
  • Experience implementing strategic process improvements and/or automation
  • Proven track record of building relationships and effectively influencing key stakeholders
  • Adept at detecting and remediating organizational / process weaknesses and deficiencies
  • Feels ownership and accountability for delivering high quality work, able to balance multiple priorities and meet strict deadlines
  • Strong written, verbal, presentation creation and delivery skills, typically to very senior audiences
  • Well organized with attention to detail
  • Willing to challenge the status quo and with a track record of driving change

Job Qualifications:
  • 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
  • 7+ 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
  • Proven track record of seamlessly leading and executing enterprise-wide initiatives
  • The candidate must be a strong communicator and able to effectively explain the rationale and details of the methodologies to a broad set of audiences that include key senior stakeholders across the Bank, as well as auditors and regulators
  • Strong analytical and problem-solving skills
  • Candidates should have at least three of the following 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

Skills:
  • Critical Thinking
  • Data Modeling
  • Process Effectiveness
  • Risk Modeling
  • Test Engineering
  • Influence
  • Oral Communications
  • Prioritization
  • Relationship Building
  • Written Communications
  • Attention to Detail
  • Change Management

Minimum Education Requirement: Bachelor's degree in related field or equivalent work experience
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 information
Pay range
$140,000.00 - $215,500.00 annualized salary, offers to be determined based on experience, education and skill set.
Discretionary incentive eligible
This 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.
Benefits
This 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.

What Bank Of America employees say

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About Bank Of America

Sourced by ZipRecruiter

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day. One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Industry

Finance and insurance

Company size

10,000+ Employees

Headquarters location

Charlotte, NC, US

Social media

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