Overview (Bank overview, GBS India overview, Function Overview)*
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.
We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.
We are a part of the Global Business Services which delivers technology and operations capabilities to all Bank of America lines of business (LOB) and enterprise functions.
Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.
* BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.
Artificial Intelligence (AI) Governance Group is part of Chief Data Scientist Organization and helps with governance of Bank of America AI models to comply with Enterprise Model Risk Policy (EMRP).
The Data Scientist will be responsible in assessing AI solutions implemented across the bank (built internally or externally) to identify any risks which may have unintended consequences, thereby assisting our client o follow principles of Responsible AI (Fairness/Equality/Justice, Privacy, Transparency etc.)
- Critically assess and challenge models on conceptual soundness, assumptions and limitations, data, developmental evidence in support of modeling choices, performance, implementation and documentation
- Understand the core methodology in AI solutions and the context in which it will be deployed so as to find risks/gaps
- Develop efficient methodologies to detect and to quantify risks/gaps in AI solutions
- Suggest alternative approaches or controls to mitigate risks/gaps identified
- Develop and implement testing plans and testing code in order to challenge models through empirical analyses and to verify model implementation
- Create metrics to quantify risks/gaps specific to each AI solution and define thresholds after consulting with all stakeholders
- Monitor metrics for breach of thresholds
- Look for unexpected risks / unintended consequences of an AI solution over its life cycle
- Assist in evaluating AI Solutions during Tollgate, Risk Assessment & Deployment Signoff process
- Write technical reports for distribution and presentation to model developers, senior management, and audit
- Ph.D/Masters/Bachelors degree in a quantitative field such as Mathematics, Physics, Finance, Engineering or Statistics from one of the premier institutes like ISIs/IIMs/IITs/NITs etc.
- Candidates must have any of financial certifications like CFA, FRM (at least level 1/part 1 should have been cleared).
- MBA is not must but preferred.
- Experience Range 3 - 5 years of professional experience as a Data Scientist or related roles.
- Foundational skills
- Hands-on experience with Statistical Modeling/Machine Learning/Deep Learning techniques is must
- Should be well-versed in programming languages of R/Python/SAS and be familiar with Deep Learning Frameworks like Tensorflow/Pytorch.
- Sound knowledge of financial instruments and financial risk/operational risk management principles is must
- Ability to understand and implement techniques discussed in AI research papers (academic and technical).
- Understanding of the financial industry including risk and regulatory environment desired.
- Able to communicate effectively and work well with the existing team.
- Work in high pressure environment and with attention to detail
- Team player
- Good Communication Skills
- GURUGRAM II MUMBAI II GANDHI NAGAR (GIFT CITY) II CHENNAI II HYDERABAD
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