Data Analytics job in Banks and Tech.

Hi everyoneI am a recent campus hire and this is my first corporate stint in a pretty huge bank. I love everything coding and modeling and ML, and while applying for jobs through the campus I had (naively?) thought that I would get an opportunity to work on risk models in the banks I had applied to. However, I am now getting to know through my fellow campus hires, my friends in other banks (HSBC, Citi, American Express, etc), and my experience too, that data analytics in banks hardly includes model development or coding. It is just writing reports and converting excel sheets to technical language as inputs to some software. Is this true? Would love to hear from people who have contributed to AI or model development and other coding intensive data analytics roles. Thanks!