Data Scientist I - Fraud Model Governance

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 Summary: This job is responsible for analyzing and interpreting large datasets to uncover potential revenue generation opportunities and develop effective risk management strategies. Key responsibilities include collaborating with key stakeholders to comprehend business problems, utilizing data gathering and analysis techniques to devise solutions, and presenting recommendations based on the findings. Job expectations include demonstrating flexibility, resilience, accountability, a disciplined approach, and a commitment to fostering responsible growth for the enterprise. Client Protection is looking for an model developer / data scientist to join our team and help us combat financial crime. You will be responsible for developing advanced technical documentation for an array of internally- and vendor-developed models ranging from regression to sophisticated techniques including XGB, neural networks, graph. Experience with Model Risk Management compliance (SR-11-7, SR-26-2) is highly desirable. Responsibilities: Developing advanced technical documentation for an array of internally- and vendor-developed models ranging from regression to sophisticated techniques including XGB, neural networks, graph Working closely with developers to understand how the model works and provide effective challenge to not only push back on methodology but also ensure results are accurate Partnering with technology and model users to schedule deployments and planning for future model installations Working with independent model risk management, legal and compliance teams to ensure models are fully validated and approved for usage Producing analytics to ensure early model results look consistent with expectations Conducting regular model monitoring and sharing performance results and analytical insights with model stakeholders and users Supporting Bank policy for Artificial Intelligence models and ensuring any risks of using advanced techniques are identified and mitigated Tracking model changes after deployment and ensure appropriate documentation reflects any adjustments, patches or updates Driving model performance analytics above and beyond Model Risk Management policy requirements, including granular performance monitoring, early trend detection, root cause analysis, and gap analysis. Required Qualifications: 3+ years of experience in model development or validation is required Must be proficient Python, SQL (SAS is a plus) Excellent technical writing skills Critical problem-solving abilities including selection of data and deployment of solutions Proven ability to manage projects and work with limited direction on complex problems to achieve project goals while also working as part of a broader team Excellent communication and influencing skills Thrives in fast-paced and highly dynamic environment. Intellectual curiosity and strong urge to figure out the “whys” of a problem and come up with creative solution Desired Qualifications: Advanced STEM (Science, Technology, Engineering, Math) degree (Masters or PhD) 5+ years of experience working as model developer, data scientist, model validator, preferable on fraud, credit, market, or other heavily quantitative areas. Advanced understanding of machine learning methodologies including neural networks, ensemble learning like XGB, and other techniques Experience with Model Risk Management compliance (SR-11-7, SR-26-2) Skills: Adaptability Attention to Detail Business Analytics Technical Documentation Written Communications Collaboration Data Visualization Artificial Intelligence/Machine Learning Networking Policies, Procedures, and Guidelines Management Presentation Skills Risk Management It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability. Internal employees who are currently working from home are still eligible to apply. However, if selected for the role, you may be required to work onsite in accordance with the workplace excellence policy. Shift: 1st shift (United States of America) Hours Per Week: 40 Pay Transparency details US - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110), US - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100) Pay and benefits information Pay range $107,300.00 - $193,200.00 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. Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure. Please review the resume writing and interviewing tips provided below to help prepare you for your next career opportunity. Getting started Regardless of the position you are interested in, the starting points to building your resume are the same: 1. Determine the job or types of jobs you want to do and research their responsibilities and qualifications. 2. Think about why you can do the job and make a list of your skills that are relative to the job. 3. Identify experiences or accomplishments that show your proficiency in the skills required for the job. 4. Summarize your abilities, accomplishments and skills into a brief, concise document. Considerations when writing a resume • Do be brief. Resumes should be 1-2 pages in length. • Do be upbeat and active in your wording. • Do emphasize what you have done clearly and concretely. • Do be neat and well organized. • Do have others proofread and critique your resume. Spell check. Make it error free. • Do use high quality, white or light colored 8½ x 11 paper. Use a laser printer if possible. • Don't be dishonest, always tell the truth about yourself in the most flattering light. • Don't include salary history or requirements. • Don't include references. • Don't include accomplishments that do not support your professional goals. • Don't include anything that isn't relevant. (For example, don't mention your fondness for swimming unless you want to work on the water.) • Don't use italics, underlining, shadows or other fancy treatments. Seven steps to a successful interview 1. Anticipate –Put yourself in the interviewer's position. What do you believe the interviewer is most interested in? Why do you think you have been invited to interview? 2. Research –What are the primary functions of the line of business? What are the success factors for the job? Is there a job description available? 3. Assess –Think about your skills, abilities, knowledge, interests, traits, values and accomplishments. Match them to what you know about the job. Consider which ones you should highlight. 4. Prepare Answers –Think about what the interviewer may ask, determine what the best answer is and write it down. 5. Prepare Questions – Interviewing is a two-way street. By asking thoughtful questions, you communicate your interest and learn a lot about the job. Choose two or three questions to ask your interviewer. Avoid asking a lot of questions about vacation time or breaks. 6. Practice – It may seem awkward, but it is the best way to come across well in an interview. Practice your own "great responses" with others or in front of a mirror until you appear relaxed and at ease. 7. Follow-up – Send a brief follow-up letter to the interviewer. Keep in mind that the many job searchers will not send a follow-up letter. Sending one can become a competitive advantage. Pay Transparency - Privacy Statement -