Manager - Pricing & Inventory Models
Over twenty years ago, CarMax disrupted the automotive industry and to this day remains the undisputed market leader in a $500B+ industry. With best-in-class financial performance, customer satisfaction, and associate engagement, CarMax is well positioned for continued growth. With this growth, we strive to maintain our analytics-based competitive advantage through our algorithm driven pricing and inventory systems. To do so, we’re currently looking for experienced analytical modelers and data scientists who are looking to apply their passion for data and digital technology to drive business-critical decisions.
The primary responsibility for the pricing and inventory models team is to accurately value the unique characteristics of each individual car that we buy or sell, and also allocate those vehicles across our 150+ stores. Last year alone, CarMax sold more than 1 million vehicles, appraised over 2 million vehicles, and had $100m in weekly auto auction spend – all while dealing with constantly changing consumer demand, wholesale auction supply, and other market conditions that are often regionally differentiated.
To properly value and allocate these vehicles, our modeling experts must be able to apply statistical methods to develop predictive models that accurately and instantaneously calculate thousands of recommendations for our field associates daily. This requires the combination of a deep understanding of statistics/machine learning/other unique methodologies, the technical skills to apply that knowledge to develop and validate models, the creativity to be able to/the curiosity to want to apply it in a unique way, and the results focus and analytical ability to quickly diagnose and fix data integrity concerns as they arise.
WHAT WILL YOU DO IN THIS ROLE?
Whether in a technical expert or supervisory role, a successful Manager candidate will:
1. Have ownership over the development of key statistical models by:
- Managing projects involving the coding and development of new models, including developing project plans, setting and managing expectations, and delivering results through self and/or others
- Analyzing and/or supervising analysis on vast amounts of complex pricing-related data, applying statistical/machine learning/other unique methods to develop/validate/improve predictive models and to identify data integrity issues
2. Drive CarMax’s development of data science expertise by:
- Assessing the methodologies and processes used to develop and manage models
- Researching innovations and best practices related to data sources and modeling methodologies
- Encouraging, challenging, and influencing others within the Strategy group, and other departments in the development of our modeling capability strategic roadmap
3. Communicate how our models work throughout the organization, both at a general level and a detailed level
WHAT ARE SOME OF THE BENEFITS OF WORKING IN THIS ROLE?
1. Ability to make a large impact on a Fortune 500 company
- Play key role in driving company’s strategy
- Despite being undisputed market leader, CarMax only has a 4% market share of the late-model used car market, allowing room for exponential growth
2. Large focus on professional development
- Your development is as important as your work in our group
- Our leaders are heavily invested in helping managers hone their technical, communication, leadership, and other skills
3. Great work environment
- CarMax was voted a Fortune 100 best company to work for 12 years in a row
- Good work/life balance; we work hard, but enjoy very reasonable hours
- Work with a close knit team in a fun and casual environment. The broader Strategy Group at CarMax consists of 100+ analysts with stellar work and academic backgrounds contributing to our collaborative atmosphere
- In addition to comprehensive benefits, we have perks like flexible vacation and an on-campus fitness center
WHAT TYPE OF PERSON ARE WE LOOKING FOR?
To be successful for this role, we are looking for someone that can 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
- Proven track record for managing model development projects and supporting analytical models deployed within critical business processes
- Passion for using analytics in problem solving
2. Ability to influence at all levels of organization
- Experience managing team-based projects and delivering timely results
- Record of building and maintaining strong working relationships
- Ability to explain standard or novel modeling methods
3. Desire to continue developing into an organizational leader
WHAT ARE THE QUALIFICATIONS FOR THIS ROLE?
- Base: Undergraduate degree in a quantitative discipline
- Preferred: Graduate degree in statistics, data science, or related field
2. Data Science Experience
- Base: 4 years of experience in a broad range of data science and statistical modeling methodologies
- Preferred: Experience using SQL and Python to analyze big data sets
- Preferred: Experience managing/leading a team or cross-functional projects
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