Operations Research Analyst III

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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
 

Job Description:

Analyzes actual and predictable interacting operational activities of a business system to obtain quantitative, rational basis for decision making through the application of logic and scientific or economic disciplines and techniques. Devises modeling and measuring techniques; utilizes mathematics, statistical methods, engineering methods, operations research techniques (linear programming, game theory, probability theory, symbolic language, etc.) and other principles and laws of scientific and economic disciplines. The role is also responsible for mentoring and coaching Ops Research Analysts I and II. Exhibits and exceptional degree of ingenuity, creativity, and resourcefulness. Apply and/or develop highly advanced technologies, scientific principles, theories and concepts. Viewed as expert within the field. Develops information that extends knowledge in a given field. Information may form the basis of newly developed concepts, theories and products. Often acts independently to uncover and resolve issues associated with the development and implementation of ops programs. Plans R&D programs and recommends technological application programs to accomplish long-range objectives.

At Bank of America, data drives the decision-making process.  The Enterprise Operations Research (EOR) team works across the organization to help shape Bank of America’s business by developing optimizations, discrete event simulations and other quantitative techniques that provide actionable data to inform the strategic direction of the organization’s financial products and operations.  But as a member of the Enterprise Operations Research (EOR) team, the successful candidate does more than build quantitative models and crunch numbers.  The successful candidate works with finance, product managers, pricing, marketing, and operations managers to improve Bank of America’s products, policies, operations, and customer interactions.  The job is technically demanding and requires a specialized quantitative skillset.  An Operations Research Analyst develops the theory and mathematic formulations supporting analytic solutions and quantitative models.  Therefore, the role requires a master’s degree or higher in operations research, applied mathematics, industrial engineering, statistics/probability or another quantitative discipline.  Specific responsibilities include:

• Leading projects with hands-on analysis and quantitative modeling, drawing from a breadth of operations research methods to choose the right tool and the right level of complexity to solve Bank of America’s most challenging business problems.
• Engaging broadly with the organization to identify, prioritize and structure complex, ambiguous problems where advanced quantitative models and analytic solutions can have the biggest impact.
• Identifying and communicating the challenges and opportunities associated with each business problem to an executive audience, informing the decision-making process.
• Building, documenting, implementing, and maintaining complex quantitative models and analytic solutions.
• Providing production support to existing optimization models.
• Achieving approval and validation of models through governance and compliance processes.
• Developing and applying advanced mathematical and statistical models to solve operational problems.
• Conducting quantitative analysis of business systems to identify optimization opportunities.
• Designing and implementing simulation models to evaluate process performance and outcomes.
• Interpreting complex data sets and translating findings into actionable recommendations.
• Collaborating with cross-functional teams to integrate research insights into operational strategies.
• Ensuring accuracy, scalability, and integrity of analytical models and methodologies.
• Contributing to knowledge sharing within the team.

Job Requirements:

As an Operations Research Analyst on the Enterprise Operations Research (EOR) Team, the successful candidate will make individual contributions to providing optimization modeling and analytic solutions to Bank of America’s marketing and operational challenges.  You will be responsible for bridging business strategy and data-based customer insight through the application of analytic tools and techniques.  You will work closely with internal product, marketing, credit strategies, risk, and finance partners credit card acquisitions, credit lifecycle management, and other line of businesses to understand business requirements, identify opportunities for improvement, and inform decision-making.  You will see your insights brought to fruition through segmentation, targeting strategies, deep customer understanding, and the application of optimization and analytic techniques.

Required Qualifications:

• Experience in formulating, building, and solving optimization problems.
• A passion to analyze and solve complex mathematical/optimization problems.
• Robust written and verbal communications skills, especially with experience in technical writing.
• Translate complex business objectives and constraints into standard mathematical form.
• Multi-task and deliver high quality work under tight and demanding timelines.
• Synthesize complex analytical results and present in a business-relevant manner.
• Strong analytic and data mining skills.
• Programming experience – specifically with Python, SQL, or optimization software packages such as FICO Xpress and Gurobi.
• Advanced MS Excel and PowerPoint skillset.
• Attention to Detail.
• Business Analytics.
• Data Visualization.
• Data and Trend Analysis.
• Strategic Thinking.
• Data Modeling.
• Process Design.
• Research Analysis.
• Automation.
• Data Management.
• Result Orientation.
• Scenario Planning and Analysis.
• Simulation.
• AI Fluency.

Desired Qualifications:

• Developing optimization models and analytic solutions - preferably in the financial services industry.
• Experience with FICO Xpress Insight.
• Experience with other optimization and simulation software packages such as SAS OR, CPLEX, Python, and Gurobi.
• Experience with data visualization software such as Tableau.
• Experience with agentic coding.

Education Requirements:

• Advanced degree and experience in the field of operations research, mathematics, probability/statistics, or equivalent work experience.

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NY - New York - 1114 Avenue Of The Americas - Grace (NY1544)

Pay and benefits information

Pay range$118,500.00 - $165,100.00 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.