Statistician - Consumer Behavior Modeling Team
Bank of America
Company Bank of America
Job Title Statistician - Consumer Behavior Modeling Team
Location: Wilmington, DE, 19806, USA
Description **Job Description:**
Responsible for developing quantitative/analytic models and applications in support of the firm's risk management effort. This role focuses on the development of operations/data management policies, strategies and operational guidelines for the organization's various financial products as they relate to the analysis, tracking, and reporting of various risk metrics. This role often possesses an advanced degree in physics, applied mathematics, statistics/probability or another heavy quantitative discipline. Quantitative analytic staff is focused on and responsible for the development of the theory and mathematics behind various models. Individual Contributor and reports to Quant Operations Manager.
Given the size of the banking industry, and the heavy regulatory interest in it, the role of formal statistical modeling has been dramatically increasing. As such, the 100-person Consumer Behavior Modeling team has multiple newly opened positions.
We are looking to hire excellent statisticians at all stages of their careers.
The modeling team offers a compelling combination of professional opportunities.
+ We work on some of the largest, most varied, and most important data in the world.
+ The mathematical sophistication of our models ranges from direct and routine application of standard tools to advanced and even research-level approaches.
+ Our scientific rigor is excellent. We write fully reproducible code and document our work with substantial formal scientific essays.
+ We implement our models and track their performance with advanced multivariate SPC. We get the deepest satisfaction in seeing our models perform as we predicted.
+ We continually train on the latest and most powerful toolsWe work across all products and across all the stages of the customer lifecycle. For example, our models
+ Set credit limits for 9% of the countrys credit card debt
+ Evaluate the return on our hundred million dollar television advertising investment
+ Correct for the significant selection bias induced by having performance data on approved accounts onlyCandidates who have deep skills in applied statistics and communicate with above average effectiveness are cordially invited to apply. **Job Description:**
This position is responsible for designing scientific tests, developing and maintaining statistical models and tools to understand price elasticity that guides Bank of America Deposit Pricing strategies. The models are required to meet very high standards including predictive accuracy, reliability, regulatory compliance, excellent documentation, flawless execution/implementation and ongoing monitoring and validations. This role often possesses an advanced degree in statistics, biostatistics, econometrics, engineering, applied mathematics, the applied sciences or other heavily quantitative discipline.
+ Execute key modeling components including model design, computer programming, data extraction, model estimation, model validation, model documentation, implementation, and monitoring
+ Understand the deeper issues and independently structure problems
+ Clearly understand and communicate options and tradeoffs with senior management
+ Understand the core tradeoffs and biases in selecting a model development sample, and execute on data preparation by extracting and building datasets from complex data warehouses.
+ Design randomized experiments to gather data needed to build still better models
+ Write efficient computer code (mostly SAS). Use white space, comments, indentation, arrays, control blocks, and modularization
+ Have deep understanding of both classical and modern statistical methods and the ability to apply them in practice
+ Connect the use of the model with how it should be validated and monitored
+ Produce high quality written model documentation
+ Design models that can be implemented given corporate constraints, and influence the development of even better platforms to support future models
+ Deliver high performing, fully functioning models
+ Collaborate with multiple functional groups including risk strategy, model risk management, legal, compliance, and technology
+ Master's or PhD degree in statistics or related field
+ Expert level programming skills (SAS)
+ Deep expertise in modern statistical methods
+ Clear and concise oral and written communication
**Posting Date** : 12/21/2016
**Location** : US-DE-Wilmington, US-NC-Charlotte
**Travel** : Yes, 5% of the time
**Full / Part-time** : Full time
**Hours Per Week** : 40
**Shift** : 1st shift
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