Data Scientist –II: Econometrics & ML Analytics

The Federal Reserve Bank of Cleveland is a mission‑driven organization committed to fostering the stability, integrity, and efficiency of the nation’s monetary, financial, and payment systems. This position is available at Cleveland, OH;
Cincinnati, OH; or Pittsburgh, PA.

• Design, develop, and convey results of innovative models (econometric, predictive, behavioral, simulation, or other) to identify firm‑specific, sector, and broader banking industry trends and risk developments in an informative, forward‑looking, and critically focused manner.
• Contribute to large‑scale analytic projects through all stages of development, including formulating concepts; developing and executing analysis plans; implementing and deploying models and tools; and reporting and presenting final research results.
• Apply experience in scalable data processing (e.g., distributed computing, cloud platforms, data warehousing) and MLOps/deployment processes (e.g., model serving, containerization, model monitoring).
• Lead transformation of large and complex datasets into a format suitable for analysis.
• Visualize and report analytic findings using a variety of methods to promote understanding of key insights and actionable takeaways for both technical and non‑technical audiences.
• Deliver formal presentations and create analytical reports and executive summaries of findings.
• Mentor junior staff on skills and knowledge areas needed for all elements of data science product development.
• Perform other duties as assigned or requested.
• Adhere to the Bank’s attendance policies through regular and prompt attendance.

• Experienced in application of advanced quantitative techniques, including econometrics, machine learning / artificial intelligence, natural language processing, scenario modeling, etc.
• Knowledge of banking and financial markets, their regulation, and use of quantitative methods to identify material risks at financial institutions and evaluate impacts of supervisory policy.
• Knowledge of data science tools and compute platforms (e.g., Red Hat Enterprise Linux, Databricks, AWS).
• Knowledge of effective model risk management and data governance practices.
• Ability to perform independent research with limited direction.

• Experience with statistical programming using Python and/or R.
• Experience working with large data sets and data processing tools such as SQL, Hadoop, Spark, etc.
• Experience with data visualization tools, preferably Plotly Dash or RShiny.
• Experience with code, data, and model management tools like Git, Git Lab, DVC, MLFlow, etc.
• Strong written and verbal communication skills.
• Ability to deliver presentations and co‑author publication‑quality reports.

Data Scientist II
:
Bachelor’s degree in data science, computer science, mathematics, statistics, mathematical finance, operations research, economics or similar field with 7+ years of related work experience. OR Master’s or PhD degree with 5+ years of related work experience.

Data Scientist I:
Bachelor’s degree in the same fields with 5+ years of experience. OR Master’s or PhD degree with 3+ years of experience.

Data Scientist Associate
:
Bachelor’s degree in the same fields with 3+ years of experience. OR Master’s or PhD degree with 0‑1 years of experience.

Data Scientist Associate: $100,300 – $125,400 annually. Data Scientist I: $111,400 – $139,200 annually. Data Scientist II: $123,700 – $154,600 annually. Final salary and offer will be determined by the applicant’s background, experience, skills, internal equity, and market data.

The Cleveland Fed offers benefits to support overall health and financial security.

This position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in U.S. federal immigration law. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the required information access and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other…