Manager, Data Science - Pricing Algorithms

8901 - Corp Office West Crk - 12800 Tuckahoe Creek Parkway, Richmond, Virginia, 23238

CarMax, the way your career should be!

Job Description

The primary responsibility for the Pricing team is to accurately and systematically value each individual car that we buy and sell. Last year, CarMax sold over 1 million vehicles and appraised over 2 million vehicles, and Pricing directed over $20B in spend to purchase inventory.

To properly value these vehicles, our data scientists must develop algorithms that best reflect customer preferences for each vehicle’s unique characteristics and that effectively respond to constantly changing consumer demand, wholesale auction supply, and other global/local market conditions.

What You Will Do – Essential Responsibilities

• 1) Develop new models and improve our existing models
• Analyze, validate, and apply feature engineering to large and complex pricing-related data sets
• Find creative ways to incorporate new insights and data sources
• Leverage statistical / machine learning techniques and sound reasoning to develop, validate, and improve predictive models
• Design controlled experiments to assess the business value of new models
• Present insights and recommendations to senior leaders to drive change
• 2) Help CarMax continue to develop its data expertise
• Research innovations and best practices related to data sources, modeling methodologies, and data science tools
• Influence the team in the development of our modeling capability strategic roadmap
• 3) Effectively communicate how our models work to team members, both at a general level and a detailed level
• Purpose of the Role
• CarMax relies on algorithms to make important decisions about which cars to buy, how to price them, and how to allocate them across our 200+ stores. Doing so ensures that we have the right cars at the right prices to meet our customers’ needs. As we continue to innovate our business and shift more of our buying and selling online, we increasingly need to make these decisions quickly with less human intervention. Our team of data scientists plays a critical role in unlocking the business value from these innovations.

Qualifications and Requirements

• To be successful for this role, a candidate must demonstrate the ability to consistently deliver at a high level on the responsibilities listed above.  A few of the competencies that will position you for success are:
• 1) Strong modeling skills and a desire to continue to grow those skills
• Exceptional logical reasoning skills
• Passion for using analytics in problem solving
• 2) Solid foundational math, computer science, and machine learning skills
• 4+ years experience in strategy, analysis, data science, or related field
• Four year undergraduate degree with exceptional academic performance (Masters or Ph.D. in an analytical field is a plus)
• 3) Ability to influence the team’s results
• Experience managing your own projects and delivering timely results
• Record of building and maintaining strong working relationships
• Ability to explain standard or novel modeling methods
• 4) Desire to develop into an effective technical leader and/or people manager
• Work Location and Arrangement: This role will be based out of the CarMax Technology Innovation Center (Richmond, VA) and associates will work onsite 4 days per week
• Work Authorization: Applicants must be currently authorized to work in the United States on a full-time basis.  Sponsorship will not be considered for this specific role

About CarMax

CarMax disrupted the auto industry by delivering the honest, transparent and high-integrity experience customers want and deserve. This innovative thinking around the way cars are bought and sold has helped us become the nation’s largest retailer of used cars, with over 200 locations nationwide.

Our amazing team of more than 25,000 associates work together to deliver iconic customer experiences. Along the way, we help every associate grow their career and achieve their best, at work and in their community.  We are recognized for our commitment to training and diversity and are one of the FORTUNE 100 Best Companies to Work For®.

The annual salary for this position is:

$120,400.00 - $192,600.00 May be eligible for bonus and equity.