Bank Of America Data Scientist Interview Questions + Guide in 2024

Bank of America is a leading financial institution that helps make financial lives better through responsible growth and unparalleled commitment to diversity and inclusion. With a strong global presence, the company offers tremendous opportunities for career growth, learning, and making a tangible impact.

The Data Scientist roles at Bank of America are crucial in analyzing and interpreting large datasets to develop risk management strategies and uncover revenue opportunities. Candidates are expected to have strong analytical skills, proficiency in data gathering, statistical analysis, machine learning, and effective communication to present insights.

In this guide, Interview Query will take you through the interview process, including technical and HR rounds, and provide essential tips and resources to help you succeed, especially on commonly asked Bank of America data scientist interview questions. Let’s get started on this journey to potentially join one of the best workplaces in the financial industry!

The interview process usually depends on the role and seniority; however, you can expect the following on a Bank of America data scientist interview:

Recruiter/Hiring Manager Call Screening

If your CV is among the shortlisted few, a recruiter from the Bank of America Talent Acquisition Team will contact you to verify key details like your experiences and skill levels. Behavioral questions may also be a part of the screening process.

In some cases, the hiring manager might be present during the screening round to answer your queries about the role and the company itself. They may also delve into surface-level technical and behavioral discussions.

The entire recruiter call should take about 30 minutes.

Technical Virtual Interview

Successfully navigating the recruiter round will present you with an invitation for the technical screening round. Technical screening for the Data Scientist role at Bank of America Merrill Lynch is usually conducted through virtual means, including video conference and screen sharing. Questions in this 1-hour long interview stage may revolve around data systems, ETL pipelines, SQL, and coding.

Expect some hands-on coding questions, often in languages like Python or R, focusing on data manipulation, cleaning, and analytics. Analytical problems and business scenarios, including SQL queries and possibly machine learning algorithms, may also be part of this stage.

Onsite Interview Rounds

Followed by a second recruiter call detailing the next steps, you’ll be invited to attend the onsite interview loop at a Bank of America office. Multiple interview rounds, typically including behavioral and technical questions, will take place throughout the day.

Your technical prowess, including programming, statistical analysis, and machine learning capabilities, will be evaluated deeply. If you were assigned any take-home exercises, you might need to present and discuss them during the onsite interview.

Final HR Interview

In some cases, a final interview with an HR representative or a senior team member may be conducted to discuss organizational fit, internal policies, and other employment details.

Typically, interviews at Bank of America vary by role and team, but commonly, Data Scientist interviews follow a fairly standardized process across these question topics.

1. Write a function to merge two sorted lists into one sorted list.

Given two sorted lists, write a function to merge them into one sorted list. Bonus: What’s the time complexity?

2. Write a function to find the maximum number in a list of integers.

Given a list of integers, write a function that returns the maximum number in the list. If the list is empty, return None.

3. Write a query to get the top 3 highest employee salaries by department.

Given the employees and departments table, write a query to get the top 3 highest employee salaries by department. The output should include the full name of the employee, the department name, and the salary, sorted by department name in ascending order and salary in descending order.

4. Write a function to combine sorted integer lists into one sorted list.

Given a list of sorted integer lists, write a function sort_lists to create a combined list while maintaining sorted order without importing any libraries or using the 'sort' or 'sorted' functions in Python.

5. Write a function to swap nodes in a singly linked list.

Given the head of a singly linked list represented as a ListNode, and two zero-indexed positions x and y, write a function swap_node which swaps the positions of nodes x and y and returns the new head. You must swap these using pointer manipulation.

6. How would you investigate a decrease in credit card payment amount per transaction?

You work for a financial company and notice that the credit card payment amount per transaction has decreased. How would you investigate the cause of this change?

7. How would you build a strategy to find the best small businesses to partner with?

You are a credit card company looking to partner with more merchants. You have 100K small businesses to reach out to but can only contact 1000. How would you strategize to identify the best businesses to approach?

8. What features would you include in a model to predict a no-show for pizza orders?

Imagine you run a pizza franchise and face a problem with many no-shows after customers place their orders. What features would you include in a predictive model to address this issue?

9. How does random forest generate the forest, and why use it over logistic regression?

Explain the process by which a random forest generates its forest. Additionally, discuss why one might choose random forest over other algorithms such as logistic regression.

10. How would you build a fraud detection model with a text messaging service for a bank?

You work at a bank that wants to build a model to detect fraud on its platform. The bank also wants to implement a text messaging service that will text customers when the model detects a fraudulent transaction, allowing them to approve or deny the transaction via text response. How would you build this model?

11. What is the relationship between PCA and K-means clustering?

Describe the relationship between Principal Component Analysis (PCA) and K-means clustering.

To help you succeed in your Bank of America data scientist interviews, consider these tips based on interview experiences:

• Master SQL and Programming: Proficiency in SQL and programming languages like Python or R is crucial. Practice coding and SQL queries using resources on Interview Query to refine your skills.
• Understand Business Problems: Bank of America’s data science roles often involve solving complex business problems. It would be beneficial to familiarize yourself with financial terminologies and data-specific challenges in the banking sector.
• Prepare for Behavioral Questions: Be ready to articulate your previous experiences and how they align with the responsibilities of the position. Practice common behavioral questions and situational responses.

What is the average salary for a Data Scientist at Bank Of America?

What core responsibilities can I expect in a Data Scientist role at Bank of America?

As a Data Scientist, you will analyze and interpret large datasets to uncover potential revenue opportunities and develop risk management strategies. You’ll collaborate with stakeholders, create technical documentation, manage multiple priorities, and communicate data-driven insights through engaging presentations.

What skills are essential for a Data Scientist at Bank of America?

Key skills include adaptability, attention to detail, business analytics, and proficiency in Python and SQL. Knowledge of advanced machine learning techniques, including supervised and unsupervised learning, and strong communication skills are also crucial.

What is the work environment like at Bank of America Merrill Lynch?

Bank of America emphasizes a diverse and inclusive workplace. They offer competitive benefits and flexible working arrangements. The company values collaboration, continuous learning, and resilience, providing various opportunities to grow and make an impact.

Bank of America emphasizes a diverse and inclusive work environment, providing its employees with the flexibility and support needed to thrive both personally and professionally. This company offers a plethora of opportunities for learning, growth, and impactful work, making it an ideal place for aspiring Data Scientists to advance their careers.

If you want more insights about the company, check out our main Bank of America Interview Guide, where we have covered many interview questions that could be asked. We’ve also created interview guides for other roles, such as software engineer and data analyst, where you can learn more about Bank of America’s interview process for different positions.

You can also check out all our company interview guides for better preparation, and if you have any questions, don’t hesitate to reach out to us.

Good luck with your interview!