Data Scientist

Federal Reserve Bank of Philadelphia • Boston, MA

9h

About The Position

As an employee of the Boston Fed, you will work to promote sound growth and financial stability in New England and the nation. You will contribute to communities, the region, and the nation by conducting economic research, participating in monetary policy-making, supervising certain financial institutions, providing financial services and payments, playing a leadership role in the payments industry, and supporting economic well-being in communities through a variety of efforts. The Boston Fed is one of 12 Reserve Banks and we serve all or parts of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. Our mission is accomplished through our Bank's values: community, innovation, integrity, trust, leadership, and excellence. As a Data Scientist in the Research Data and Technology Solutions team at the Boston Fed, you will play a pivotal role in analyzing complex economic data to uncover trends, patterns, and insights that drive policy recommendations and business strategies. You will collaborate closely with cross-functional teams, including economists, engineers, analysts, and research stakeholders to develop and implement data-driven strategies and solutions. Your work will advance economic research, monetary policy, reports, publications, and presentations that have a direct impact on economic policy and market behavior. Working in close collaboration with Senior and Lead Data Scientists, this position will design and implement advanced statistical and machine learning models in support of Research Economists.

Requirements

• Education: B. Sc. Computer Science or Statistics or Mathematics. Advanced degree or relevant experience a plus.
• Experience: Minimum of 3 years of experience in data science including machine learning, deep learning, and advanced analytics
• Technical Skills: Proficiency in modern statistical and general-purpose programming languages. Expertise in data analysis, machine learning, and statistical modeling. Experience with data visualization tools and big data technologies.
• Analytical Skills: Strong problem-solving abilities with a deep understanding of statistical methods and data analysis techniques. Ability to interpret complex data and communicate insights effectively.
• Communication: Strong verbal and written communication skills. Ability to present complex technical concepts to non-technical stakeholders.
• Collaboration: Proven experience working in a cross-functional team environment and building strong relationships with stakeholders.
• All candidates must be U.S. citizens or lawful permanent resident aliens with at least three or more years of U.S. residency from the date of legal entry to the U.S.
• For this job, any offer of employment is contingent upon successfully passing a two-phase security screening. The first phase consists of the satisfactory completion of a physical examination (including a drug screening), reference checks, and a security investigation consisting of credit and criminal history checks. The second phase, which might not be complete until after you begin working at the Reserve Bank, is an additional risk-based security screening determined by the risk rating of the position.
• All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.

Nice To Haves

• Tools and Technologies: Successful candidates will have familiarity with a number of tools listed below and ideally expertise in some. -Programming languages: Python, R, Stata, SQ -Frameworks: Apache Spark, Apache Airflow -Statistical methods: Descriptive statistics, generalized linear models, basic econometrics -Machine learning methods: Ability to translate a business or research problem into a model that can be trained or estimated. Common domains include clustering, regression, and neural networks. Familiarity with LLMs, parameter efficient fine-tuning, and RAG. -Development tools: Git, GitLab

Responsibilities

• Data Analysis and Modeling: Design and implement advanced statistical, econometric, machine learning models, and data processing techniques. Utilize a variety of tools and methods to answer research questions from complex datasets.
• Data Management: Implement data collection, storage, and processing pipelines to ensure data quality and integrity.
• Software Engineering: Design and develop software that enable research into modular, efficient, reusable, and maintainable scripts or packages.
• Collaboration: Work closely with economists and other stakeholders to understand their data needs, design research methodologies, and deliver solutions that drive research outcomes. Develop and promote best practices for reproducible research workflows. Communicate findings and recommendations effectively.
• Reporting and Visualization: Develop and maintain dashboards, reports, and visualizations that provide clear and actionable insights to stakeholders.
• Innovation: Stay current with industry trends and emerging technologies. Identify opportunities for incorporating new methods and technologies into our data science practices.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level