Financial institutions are on the hunt for AI talent as AI, machine learning, natural language processing and generative AI continue to gain importance in bank operations.

In fact, 99% of bank executives are hiring talent to support generative AI initiatives, according to Google’s New Banking Survey, released in October. The report surveyed 350 IT decision-makers or senior-level executives in the United States between Oct. 2 and Oct. 11.

“Unanimously, [executives] are saying they’re really trying to hire and trying to ramp up [AI efforts], and this is an area of growth for them,” Zac Maufe, head of regulated industries at Google Cloud, told Bank Automation News.

According to the report, bank executives are looking for the following skill sets to fill positions:

• Knowledge of the cloud;
• Understanding of AI ethics;
• Programming language skills;
• Understanding of AI algorithms and models; and
• Understanding of the intersection of business AI.

AI job openings

Banks, including Bank of America, Citi and Goldman Sachs, are looking to fill AI positions now:

Bank of America: AI data science manager

Bank of America is hiring an AI data science manager, according to its website.

The $3.1 trillion bank is looking for someone with two to four years of professional experience in natural language process programming, deep learning and at least five years of AI/ML management, according to the job posting. Desired skills include a degree in data science, background in teaching NLP algorithms and experience with large-scale data analysis tools.

No compensation range was given on the job posting.

Citi: SVP Gen AI

Citi is hiring for a senior vice president of generative AI within its innovation lab, according to Citi’s website.

The $2.2 trillion bank’s ideal candidate will provide leadership to the generative AI projects team, help deliver the bank’s generative AI strategy, work through research and development, and collaborate with other project leaders on integrating generative AI throughout the bank as well as monitoring for AI compliance.

Qualified applicants should have a doctorate, master’s or equivalent degree in a relevant field, seven or more years of experience in machine learning, experience with natural language processing and data science, and in-depth knowledge of deep learning frameworks, according to the job posting.

Compensation for the position is between $170,880 and $256,320.

Goldman Sachs: VP, AI product manager

The $2.6 trillion Goldman Sachs is hiring a vice president and AI product manager within its software engineering operation.

The selected candidate will work with the engineering team to create a platform road map, bridge technical and business worlds, work through product design, understand and lead analyses, and communicate the benefits of the platform and products, according to the job posting.

Compensation for the position is between $150,000 and $250,000.

Hiring for AI amid layoff culture

As financial institutions look to expand AI efforts, many banks are shrinking their teams in other areas.

In fact, during the third quarter, banks including PNC, Wells Fargo and Fifth Third pulled back on headcount as they prioritized technology and efficiency.

Goldman Sachs also reduced its headcount in Q3 by 7% year over year to 45,900, according to the institution’s Q3 earnings supplement. This pullback on payroll expenses “allow[s] us to reinvest in our highest-performing people, particularly as the market for top talent remains fiercely competitive,” Chief Financial Officer Denis Coleman said during Goldman’s Q3 earnings call on Oct. 17.