Data Scientist - Fraud Model Governance

Job Summary

This role is a model developer / data scientist with Client Protection, focusing on combating financial crime. The position involves analyzing large datasets to uncover revenue opportunities, developing risk management strategies, and working closely with stakeholders to improve model performance.

• Develop advanced technical documentation for internally- and vendor-developed models, ranging from regression to sophisticated techniques including XGB, neural networks, and graph models.
• Work closely with developers to understand model operations, challenge methodologies, and ensure accurate results.
• Partner with technology and model users to schedule deployments and plan future model installations.
• Collaborate with independent model risk management, legal, and compliance teams to validate and approve models for usage.
• Produce analytics to verify early model results match expectations.
• Conduct regular model monitoring and share performance insights with stakeholders.
• Support Bank policy for Artificial Intelligence models, identifying and mitigating any associated risks.
• Track model changes post‑deployment and maintain documentation reflecting adjustments, patches, or updates.
• Drive performance analytics beyond Model Risk Management policy requirements, including granular performance monitoring, early trend detection, root‑cause analysis, and gap analysis.

• 3+ years of experience in model development or validation.
• Proficiency in Python and SQL (SAS is a plus).
• Excellent technical writing skills.
• Critical problem‑solving abilities, including data selection and solution deployment.
• Proven project management skills, able to work independently on complex problems while collaborating with a broader team.
• Excellent communication and influencing skills.
• Thrives in a fast‑paced, dynamic environment.
• Intellectual curiosity and a strong urge to uncover the underlying “why” of problems and craft creative solutions.

• Advanced STEM degree (Master’s or Ph.D.).
• 5+ years of experience as a model developer, data scientist, or model validator, preferably in fraud, credit, market, or other heavily quantitative areas.
• Advanced understanding of machine learning methodologies such as neural networks, ensemble learning like XGB, and other techniques.
• Experience with Model Risk Management compliance (SR‑11‑7, SR‑26‑2).

• 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

Shift: 1st shift (United States of America)
Hours per week: 40

US – IL – Chicago: 110 N Wacker Dr – Bank of America Tower Chicago (IL 4110)
US – MA – Boston: 100 Federal St (MA 5100)

Pay range: $107,300 – $193,200 annualized salary, determined based on experience, education, and skill set.
Discretionary incentive eligible – annual discretionary award based on performance and contribution.

This role is currently benefits eligible. We provide industry‑leading benefits, paid time off, and resources to support employees’ impact on sustainable growth.

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. Selected candidates may be required to work onsite in accordance with workplace excellence policy.