Data Scientist I

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 a diverse and 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.

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 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.

Responsibilities:

• Performs business analytics, which includes data analysis, trend identification, and pattern recognition, using advanced techniques (e.g., machine learning, text mining, statistical analysis, etc.) to support decision-making and drive data-driven insights
• Applies agile practices for project management, solution development, deployment, and maintenance
• Creates and maintains technical documentation, capturing the business requirements and specifications related to the developed analytical solution and its implementation in production
• Manages multiple priorities and maintains quality and timeliness of work deliverables such as quantitative models, data science products, data analysis reports, or data visualizations, while exhibiting the ability to work independently and in a team environment
• Delivers engaging presentations and engages in both in-person and virtual conversations that effectively communicate technical concepts and analysis results to a diverse set of internal stakeholders, and develops professional relationships to foster collaboration on work deliverables
• Mitigates risk by identifying potential issues and developing controls
• Researches the latest advances in the fields of data science and artificial intelligence to support business analytics

Skills:

• Adaptability
• Attention to Detail
• Business Analytics
• Technical Documentation
• Written Communications
• Agile Practices
• Application Development
• Collaboration
• Data Visualization
• DevOps Practices
• Artificial Intelligence/Machine Learning
• Networking
• Policies, Procedures, and Guidelines Management
• Presentation Skills
• Risk Management

Overview of Global Risk Analytics and Enterprise Independent Testing: 
Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) are sub-lines of business within Global Risk Management (GRM). Collectively, they are responsible for developing a consistent and coherent set of models, analytical tools, and tests for effective risk and capital measurement, management and reporting across Bank of America. GRA and EIT partner with the Lines of Business and Enterprise functions to ensure the capabilities it builds address both internal and regulatory requirements, and are responsive to the changing nature of portfolios, economic conditions, and emerging risks. In executing its activities, GRA and EIT drive innovation, process improvement and automation. 

Overview of  Data Science for Technology, Risk and Operations:
The Data Science for Technology, Risk and Operations (DSTRO) team, a sub-line of business within GRA, is responsible for developing, enhancing and maintaining the Enterprise Information Products (EIPs) dataset. Additionally, DSTRO leverages artificial intelligence to enhance the efficiency and effectiveness of Enterprise Information Testing (EIT) and oversees the development of Natural Language Processing (NLP) solutions. The team is also dedicated to advancing Data Science and Artificial Intelligence (AI) capabilities and execution within GRA, working closely with Global Technology, Global Operations, Model Risk Management, and the AI Policy, Strategy, and Governance teams to establish a robust operational framework for both vendor and internal technology and operations models.

Bank of America:
 

Job Description:

This Data Science for Technology, Risk and Operations (DSTRO) Innovation team's Data Scientist I position will be part of the Natural Language Processing (NLP) team. In this role, the incumbent will perform data science activities in support of automation efforts for Global Risk Analytics (GRA) - Enterprise Independent Testing (EIT) and other enterprise teams requiring NLP models or modeling support. The job will support a broad range of Data Science, Modeling, and Automation projects leveraging Artificial Intelligence, Machine Learning, and Emerging Technology to resolve key business issues. In this role, the incumbent will work directly with partners across multiple teams including GRA, GRA/EIT Technology, Global Compliance & Operational Risk, and various front-line units.

Responsibilities:

• Build, improve, and extend NLP capabilities for Line of Business and Control Function partners
• Research and evaluate innovative approaches to NLP problems
• Deploy models into production in collaboration with Technology teams
• Monitor and recalibrate models to maintain accuracy and adapt to new requirements
• Create compelling visualizations and reports to communicate data insights to diverse stakeholders
• Work closely with cross-functional teams to align data science initiatives with business goals
• Use Jira and Confluence for project tracking and develop code with version control using Git/Bitbucket
• 8. Write and maintain technical documentation, capturing specifications related to the developed NLP solution and its implementation in production
• 9. Stay updated on industry trends, emerging technologies, and best practices to enhance data science capabilities
   

Skills: 

• Adaptability
• Attention to Detail
• Business Analytics
• Technical Documentation
• Written Communications
• Agile Practices
• Application Development
• Collaboration
• Data Visualization
• DevOps Practices
• Artificial Intelligence/Machine Learning/Natural Language Processing
• Networking
• Policies, Procedures, and Guidelines Management
• Presentation Skills
• Risk Management

Required Qualifications:

• Bachelor’s or master’s degree in computer science, engineering, human-computer interaction, statistics, bioinformatics, physics
• 2+ years of analytics, financial modeling and/or AI/ML modeling experience, with 0-2 years of NLP experience
• Knowledge of machine learning algorithms such as dimensionality reduction (PCA, SVD, UMAP, t-SNE), decision trees, random forest, gradient boosted trees, logistic regression, DBSCAN, K-means, hierarchical clustering, deep learning (sequential models like RNN/LSTM, convolutional neural networks, attention-based transformers, GANs)
• Proficiency in programming languages such as Python, and R
• Experience with data visualization tools such as Tableau, or matplotlib
• Experience of managing projects and tasks in JIRA, Confluence, and SharePoint
• Ability to collaborate within and between cross-functional teams; excellent communication skills
• Ability to thrive in a fast-paced, dynamic environment and adapt to evolving priorities and requirements
• Preferred Qualifications:
• Background in one or more of the following domains: Natural Language Processing (NLP), Natural Language Understanding (NLU), Natural Language Generation (NLG), Automatic Speech Recognition (ASR), Human-Computer Interaction (HCI)
• Experience with at least one NLP technique such as word embeddings (word2vec, GloVe, fasttext, Transformers), topic modeling (LSA/LSI, LDA, NMF), search (Elasticsearch, FAISS), dialogue systems/chat bots (Rasa, kore.ai), knowledge graphs
• Labeling, Annotation, and A/B evaluation experience with NLP models preferred (e.g., LabelStudio, Prodigy, Brat)
• Experience with model governance and version control processes like Bitbucket/Git preferred
• Experience with containers (Docker, OpenShift) is preferred
• Web development and API experience preferred (e.g., HTML, CSS, JavaScript, Flask, React, Streamlit, Django, FastAPI)

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NJ - Jersey City - 525 Washington Blvd (NJ2525)

Pay and benefits information

Pay range

$113,000.00 - $142,700.00 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.