Data Scientist
92% skill overlap
Your role
Data Scientist (Banking)
BriefYour role
- L3 salary
- Not published yet
- Upcoming dated changes
- 6 changes ahead
What the role does
Data Scientist (Banking) is a role in Data, Analytics & AI. The family covers data analysis, BI, data science, statistics, GIS and master data. The core skill is machine learning fundamentals, and the main work is AI and automation, credit risk and lending decisions and model development and validation.
Levels
- L1 Starting out
- L2 Independent
- L3 Senior or specialist
- L4 Leads a team or an area
- L5 Leads the function
Full level descriptions and job titles
The EFO level names are the common scale; job titles differ between employers.
| Level | What the work looks like | Typical years | Typical job titles |
|---|---|---|---|
| L1 Starting out | Learns the job; executes defined tasks with supervision | 0-2 | Banks: Analyst, Junior Analyst, Associate (asset servicing), Trainee, GraduateAsset servicers: Junior, Specialist (entry), Officer |
| L2 Independent | Owns a process end to end; trains L1; first contact for the team's clients | 2-5 | Banks: Analyst / Senior Analyst, AssociateAsset servicers: Specialist, Senior Specialist, Senior Officer |
| L3 Senior or specialist | Deep expertise; handles exceptions and change; represents the function in projects | 5-9 | Banks: Senior Associate, AVP, Assistant ManagerAsset servicers: Senior Specialist, Expert, Team Lead (small team) |
| L4 Leads a team or an area | Manages people or a large process; owns budgets or controls; escalation point | 8-14 | Banks: VP, Manager, Senior ManagerAsset servicers: Team Lead, Manager, Head of Section |
| L5 Leads the function | Accountable for the function in a legal entity or region; sets priorities and standards | 12+ | Banks: Director, Executive Director, Managing Director, Head of functionAsset servicers: Head of Department, Director |
Skills
Where the skill weights come from
Each role lists its skills with a tier and a weight. The weights of one role add up to 100 percent.
Source: the EFO role catalogue, built from the ESCO classification and reviewed by the editors.
The percentage is the skill's share of the role; the bars are drawn relative to the anchor skill, which is shown full.
Critical
- Machine learning fundamentalsWeight 12.2%Relevant to you
- Python for data analysisWeight 8.2%Relevant to you
- Descriptive statistics and distributionsWeight 8.2%Relevant to you
- Hypothesis testing and significanceWeight 8.2%Relevant to you
- Querying data with SQLWeight 8.2%Relevant to you
- Credit risk models (IFRS 9, IRB)Weight 8.2%Relevant to you
Important and supporting skills 17
Important
- Causal inference and econometricsWeight 4.1%Relevant to you
- Experiment design and A/B testingWeight 4.1%Relevant to you
- Forecasting methods and time seriesWeight 4.1%Relevant to you
- Communicating data to non-technical audiencesWeight 4.1%Relevant to you
- Choosing the right metric for the questionWeight 4.1%Relevant to you
- Git version controlWeight 4.1%Relevant to you
- Professional written communicationWeight 4.1%Relevant to you
- Assessing the quality of sourcesWeight 4.1%Relevant to you
Supporting
- Model deployment (MLOps)Weight 2.0%Relevant to you
- Data modelling and schema designWeight 2.0%Relevant to you
- Data platforms (Snowflake, BigQuery)Weight 2.0%Relevant to you
- Data cleaning and validationWeight 2.0%Relevant to you
- Stakeholder managementWeight 2.0%Relevant to you
- Structuring ambiguous problemsWeight 2.0%Relevant to you
Useful
- Cloud platforms (AWS, Azure)Weight 0.7%Relevant to you
- Visualisation tools (Power BI, Tableau)Weight 0.7%Relevant to you
- Intellectual curiosityWeight 0.7%Relevant to you
Processes
The work the role takes part in.
What each process covers
- AI and automationMain
- Credit risk and lending decisionsMain
- Model development and validationMain
Dated changes for this role
- Second Consumer Credit Directive appliesRelevant to you
- CRR3 output floor rises to 60 percent in 2027 and 65 percent in 2028Relevant to you
- FINMA circular on nature-related financial risks phases inRelevant to you
- UK Basel 3.1 rules take effectRelevant to you
- PRA retires the refined methodology to Pillar 2ARelevant to you
Salary snapshot
Salary figures are not published yet
The L3 salary range for this role, with its sources, will appear here when the salaries section opens.
Certifications
- Microsoft Power BI Data Analyst PL-300
- Tableau Desktop Specialist
- SnowPro Core
- dbt Analytics Engineering
Concepts to know
Neighbouring roles
Roles that need many of the same skills, by weighted skill overlap, with the skills you would need to add.
Data Analyst
56% skill overlap
To add: Advanced Microsoft Excel, Defining and using KPIs
Your role
Data Analyst (Banking)
55% skill overlap
To add: Advanced Microsoft Excel, Trade lifecycle, Defining and using KPIs
Your role
Data Governance Analyst
55% skill overlap
To add: Advanced Microsoft Excel, Data governance, quality and lineage, Defining and using KPIs
Your role
Quantitative Analyst (Desk Quant)
47% skill overlap
To add: Risk measures and sensitivities, Derivatives and how they work, Applied statistical modelling for pricing and risk (GLM, survival)
Your role
Quantitative Developer
46% skill overlap
To add: Risk measures and sensitivities, Derivatives and how they work, Software design and code quality
Your role
Do this job? Suggest a correction
Sources
- The EFO role catalogue, with skills, levels and processes. How it is built
- ESCO classification of the European Commission (external site)
Business intelligence (BI)Business intelligence is the set of tools and practices that turn data into dashboards and reports for decisions, such as sales, cost, risk or service metrics. Typical tools are Power BI and Tableau, fed by a data warehouse.
Master dataMaster data is the core, shared data about the key entities a business deals with: clients, counterparties, products, accounts, legal entities and employees. It changes less often than transactions and is reused by many processes. Master data management (MDM) keeps one trusted version of it.