Data Scientist/Senior Data Scientist

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Data Science
Minneapolis, MN, USA
Posted on Wednesday, August 16, 2023


Federal Reserve Bank of MinneapolisThe Federal Reserve Bank of Minneapolis has an exciting opportunity for individuals with data science experience. The successful candidate will become a part of the Production Function within the National Stress Testing Program. The individual will work with complex datasets, a variety of statistical modeling techniques, and several programming languages. The individual will collaborate locally with other members of the Minneapolis team as well as nationally with colleagues across the Federal Reserve System. The individual will utilize R and Python to implement models for annual Dodd-Frank Act stress tests, develop automated analytics, and support policy makers with ad hoc analysis. The individual will interact with senior leaders across the Federal Reserve System. Candidates with significant relevant experience will be considered for a senior role.

Responsibilities Include:

  • Designs and implements standardized, high-quality code used to produce stress testing results
  • Collaborates with model research and development staff to assess operational risks and design of code for proposed model changes
  • Uses best practices around development, testing, deployment, and controls of model code and analytics
  • Develops and maintains automated analytical tools to support interpretation of data trends and modeled outcomes
  • Maintains and creates database/computing requirements for efficient and rigorously controlled production
  • Communicates outcomes of projects and analyses to various audiences including senior bank leadership and Federal Reserve System officials
  • Develops subject matter expertise in areas of financial risk relevant to stress testing and banking.
  • Collaborates with other analysts, project management, and leadership on coding, results execution, and ad hoc analysis
  • Safeguards equipment, sensitive data, and resources according to the SRC Information Security and Data Handling Handbook
  • Handles records in accordance with the System Records Retention Manual compliance plan
  • Performs other duties as assigned


  • Bachelor's or higher degree in a quantitative field and demonstrated experience in data science (minimum of 3 years for senior)
  • Experience in open-source programing languages R (preferred) and/or Python including data processing, modeling, visualization, and documentation tools
  • Knowledge of version control platforms such as Git and containerization tools such as Docker
  • Ability to adapt to new and changing regulatory and financial industry environments
  • Ability to effectively articulate issues and solution proposals in verbal and written form
  • Ability to work independently in a matrix management structure as well as willingness to collaborate within a team
  • Expertise in management of data requirements and use of data in relational databases using SQL
  • Experience developing, implementing, or validating statistical or mathematical models
  • Experience with the software development life cycle preferred
  • Experience with data science in cloud-based environments preferred

Are you interested in this position but not sure if your experience aligns with every qualification above? That’s okay. We still love to hear from you to learn more about what you would bring to the role!

Our total rewards program offers benefits that are the best fit for you at every stage of your career:

  • Comprehensive healthcare options (medical, dental, and vision)
  • 401(k) match, and a fully funded pension plan
  • Paid time off and holidays
  • Generously subsidized public transportation
  • Annual educational assistance
  • On-site fitness facility
  • Professional development programs, training and conferences
  • And more…

The Minneapolis Fed is committed to developing a diverse workforce and providing an inclusive environment where all employees are respected and valued. We believe that we can foster development opportunities for all and reach our full potential by recognizing the unique experiences and identities of each of our colleagues. From economists to cash specialists, we work together to represent you in our economy.

Additional Information:

*This position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position 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 eligibility requirements.

*This position qualifies for a hybrid working arrangement with up to two days of remote work each week. Successful candidates must live in or relocate to the Minneapolis-St. Paul, Minnesota, or Helena, Montana, areas.

Full Time / Part Time

Full time

Regular / Temporary


Job Exempt (Yes / No)


Job Category

Bank Examination

Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

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