Data Science Hiring and Interview Process at Mastercard
Since its formation in 1966, financial services giant Mastercard’s goal has been to connect and power an inclusive, digital economy by making transactions safe, simple, smart and accessible. Headquartered in Purchase, NY, Mastercard offers an extensive array of cutting-edge financial services. It was formulated by a coalition of various financial institutions and localised bankcard unions to counter BankAmericard, introduced by Bank of America, which subsequently morphed into Visa, its primary rival even to this day. “We are dedicated to enhancing the security of the payments industry by using data science,” said Rajesh Chopra, senior vice president, data & services, South Asia, Mastercard, told AIM in an exclusive interview. Mastercard’s expertise in this area provides great value for its stakeholders. The global payments company is also introducing an innovative AI-based solution that enhances banks’ ability to detect potential fraudulent money transfers by their customers. Several prominent UK banks, including Lloyds Banking Group Plc, Natwest Group Plc, and Bank of Scotland Plc, have partnered with Mastercard to utilise the Consumer Fraud Risk system. Inside Mastercard’s AI & Analytics Play Mastercard leverages AI to prevent cyberattacks and fraudulent activities, saving more than $30 billion in the last two years alone. Additionally, Mastercard employs Decision Intelligence to address real-time business requirements while avoiding disruptions. By analysing multiple data points and implementing advanced modelling techniques,  transaction decision score is generated, offering valuable insights to card issuers. By leveraging this score, issuers can optimise authorisation decisions, approving legitimate transactions while maintaining robust security measures. Additionally, Mastercard employs AI to support banking partners in effectively managing credit risk. This ensures that customers are provided with appropriate credit amounts, enhancing the overall customer experience. Mastercard also banks on data analysis expertise to empower decision-making, exemplified by the introduction of Recovery Insights during the COVID-19 pandemic. This comprehensive solution aids businesses and governments in managing health, safety, and economic risks through analytics, experimentation, consulting, and unique data-driven insights. The company also prioritises technological advancements, such as implementing robotic process automation to streamline operations and enhance employee experiences. Additionally, Mastercard’s AI-powered global learning platform, Unlocked, provides employees with access to relevant mentorship opportunities and global projects, fostering continuous professional growth. “At Mastercard, upholding data protection and privacy as fundamental human rights is of paramount importance so we employ a dedicated team of data scientists and AI technologists to ensure consistent adherence to responsible AI development and application,” Chopra emphasised.  With a strong governance process and adherence to best practices, they strive to minimise biases in AI models and data, promoting fair and equitable outcomes. Hiring Process Mastercard employs a fair and flexible system to hire talent from various regions. Candidates go through screening based on required skills, followed by technical assessments and interviews to evaluate their behavior, expertise, and domain knowledge. Currently, Mastercard is looking to hire skilled analysts, consultants, senior analysts, assistant managing consultants, and leadership positions such as managing consultants and senior managing consultants in advanced analytics. The desired expertise profiles for these roles include credit risk, fraud analytics, and other subject matter expert (SME) domains. For consultant roles in analytics, a minimum of two years of experience is required. Preferred domain knowledge includes finance and retail analytics, payments, fintech, marketing, and commercialisation of scalable platforms. Senior analytical roles, on the other hand, consider experience ranging between five and seven years. The key skills Mastercard looks for are passion, analytical excellence, project management, good communication, teamwork, integrity and bringing a diverse perspective. On the technical side, when considering potential candidates, proficiency in various tools, applications, and frameworks is important. These include platforms and database environments such as Hadoop, Oracle, and MySQL Server. Programming skills in Python, Pyspark, R, Rshiny, Spark, Impala, Hive, and SQL are also desired. Knowledge of BI tools like Tableau, Power BI, Alteryx, MSBI stack, Angoss, Think cell, Bitbucket, Adobe Analytics, and Toad is beneficial. Additionally, familiarity with data science techniques like custom analytics using AI/ML, deep learning, statistical modelling, model development, market research, H2O, and Test & Learn is valuable. In terms of education and certifications, an advanced degree in Economics, Statistics, Mathematics, Finance, or Engineering with a focus on business applications is preferred. Certifications in the mentioned tools and skills are also beneficial. Having knowledge of business analytics, as well as certifications such as PMP and Scrum Master, are considered advantageous for these roles. “Alongside technical proficiency, we highly value qualities like empathy, a desire to learn, willingness to collaborate, taking responsibility, adaptability, and a commitment to making a positive impact, not just achieving personal success,” said Chopra. Work Culture Mastercard is certified as a ‘Great Place to Work’ and the company considers people as “biggest assets”. With a firm belief in fostering a culture of “decency”, Mastercard recognises that a strong workplace culture not only supports employee growth but also positions itself as a positive contributor to the community. Three key areas contribute to cultivating this culture. Firstly, Mastercard places great emphasis on work flexibility, ensuring inclusivity and well-being of its workforce. Flexible time policies, coupled with a supportive culture, values, diversity, inclusion, career opportunities, and rewards, are all factors contributing to this recognition. Secondly, employee health and well-being are important for Mastercard. Through its “Live Well” global digital program, Mastercard offers online sessions on healthy eating, exercise, meditation, and expert advice, supporting employees in maintaining their mental and physical well-being. Additional support is provided through benefits like childcare, bereavement leave, flexible scheduling, counselling, and fitness facilities. Lastly, Mastercard invests significantly in upskilling its workforce, with a focus on project-based learning and mentoring. “We are driven by a culture of Diversity, Equity, and Inclusion (DEI) that arises from our wider objective of empowering people, preserving the planet, and fostering prosperity. We aim to cultivate a culture that celebrates diversity of thought, background, experiences, and abilities,” Chopra concluded. So if you are looking for a change in job role, tap on this link.
Mastercard is looking to hire skilled analysts and consultants for both senior and junior positions
Mastercard is looking to hire skilled analysts and consultants in both senior and junior positions
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Shritama (she/her) is a technology journalist at AIM who is passionate to explore generative AI with a special focus on big techs, database, healthcare, DE&amp;I, hiring in tech and more.