Data Scientist Associate/ I/ II

Company

Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland is part of the nation’s central bank, and we’ve provided many opportunities for professional growth during our history.

For twenty-five years in a row, we’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.

Our People Make the Difference! The Federal Reserve Bank of Cleveland is seeking innovative thinkers with vision to build the framework that will carry the Bank into the future.

Follow us on LinkedIn, X, Instagram, and our YouTube channel – Cleveland Fed

The Advanced Analytics team in the Supervision & Regulation department strives to be data science innovators. We develop new models and metrics, using a wide range of vendor and internal datasets, to monitor risks in the banking sector and more generally promote a safe, sound, and fair financial system.

For this role, we are looking for candidates who can identify and execute projects that leverage advanced quantitative techniques to advance risk identification, financial stability, supervisory policy, and other areas of supervisory interest. Plays a central role in designing, developing and conveying the results of models (including econometric, predictive, behavioral, simulation or other) to ensure identification of firm-specific, sector, and broader banking industry trends and risk developments in an informative, forward-looking, and critically focused manner. Leads efforts to distill large amounts of data, whether accessed through public or supervisory sources, into relevant, focused and actionable information. Experience in machine learning, natural language processing and/or other emerging fields is desirable. Uses innovative data visualization methods for delivering findings and creates publication-quality reports and presentations for sharing results. Proven capability in developing relationships and working with business line partners.

General Responsibilities:

• Contributes to analytic projects through all stages of development but is primarily responsible for the research and development of new models or metrics or the enhancement of existing models, including formulating concepts, developing and executing analysis plan, and reporting and presenting model insights.
• Develops predictive models using machine learning, econometric modeling and natural language processing techniques to measure, assess and predict various measures of financial or non-financial risk relevant to the oversight of banking institutions.
• Lead transformation of large and complex datasets in a manner that is suitable for analysis.
• Visualizes and reports analytic findings using a variety of methods to promote understanding of key insights and actionable takeaways for both technical and non-technical audiences.
• Delivers formal presentations, create analytical reports and executive summaries of findings.
• Experience with statistical programming using packages in Python or R
• Experience working with large data sets and data processing tools like SQL, Hadoop, Spark
• Experience with data visualization tools, preferably Plotly Dash
• Experience with code, data, and model management tools like Git, GitLab, DVC
• Experience leveraging compute platforms for data science development (e.g., Databricks, AWS SageMaker, Red Hat Enterprise Linux, Red Hat OpenShift)
• Performs other duties as assigned or requested.
• Adheres to the Bank's attendance policies through regular and prompt attendance.

Education and Experience:

Data Scientist Associate

• Bachelor's degree in Mathematics, Statistics, Data Science, Economics with an emphasis on statistics and 3+ years of related work experience
• Or Preferred - Master's degree in Mathematics, Statistics, Data Science, Economics with an emphasis on statistics and 0-1 years of related work experience

Data Scientist

• Bachelor's degree in Mathematics, Statistics, Data Science, Economics with an emphasis on statistics and 5+ years of related work experience
• Or Preferred - Master's degree in Mathematics, Statistics, Data Science, Economics with an emphasis on statistics and 3+ years of related work experience

Data Scientist II