Fraud Analytics and Innovation Senior Analyst

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
 

Enterprise Job Description:

This job is responsible for performing more complex analysis and modeling to minimize fraud loss exposure and negative impacts to the customer experience. Key responsibilities include utilizing a variety of systems, such as Excel, SAS, SQL, Tableau, and other relational data bases, to provide analytical support on strategies, ensure goals are met, and propose policy/procedural changes within segmentation structures to produce optimal results. Job expectations include evaluating data to assess potential fraud risk and creating mitigation strategies.

Enterprise Responsibilities:

• Performs complex analysis of financial models, market data, financial data, and portfolio trends to understand product performance and improve portfolio risk, profitability, performance forecasting, and operational performance
• Utilizes a variety of systems, such as Excel, SAS, SQL, Tableau, and other relational data bases, to provide analytical support on strategies, ensure goals are met
• Evaluates data to assess potential fraud risk and creating mitigation strategies
• Proposes policy/procedural changes within segmentation structures to produce optimal results
• Recommends ways to help the business achieve desired outcomes and make informed business decisions using data analysis outputs
• Leads the coordination of the production of product performance reports and updates for senior management

LOB Job Description:

The Fraud Analytics and Innovation Analyst within Client Protection (Specialty Fraud) is responsible for limiting fraud loss exposure, negative impacts to the customer experience, driving revenue & growth for products within their responsibility, and implementing processes/controls that limit or reduce complaints.  They will be the key point of contact, internal and external to fraud, for the products they are aligned to. They will influence the development of new or changing products and features. They will be responsible for leading and/or participating in regular performance updates with key stakeholders. They will provide updates on fraud trends, loss outlooks, initiatives, projects, and escalations.  This person will be responsible for leveraging their extensive fraud and product knowledge while reviewing our existing policies to optimize the balance between revenue, client experience and fraud losses. They will also collaborate and partner daily with key stakeholders across the enterprise, from front line analysts up to Sr. Executives within product, strategy, servicing, detection, authentication, claims, risk, and technology to name a few.

Product focus for this role includes: Home Loans, Commercial Vehicle Lending, Health Savings Accounts, Reward Points (USCC), Small Business Lines & Loans

LOB Responsibilities:

• Lead the partnership between fraud and product teams to drive strategic discussions around business performance, initiatives, controls, and emerging threats
• Drive regular fraud risk assessments for existing processes and defense design for new product initiatives or processes
• Champion and challenge the fraud policies that are used to manage fraud risk in order to optimize the balance between client experience, risk, and reward
• Own the internal governance process and become an expert on DSG metrics, SPI’s, and UCRA/strategy change inventories
• Support strategic planning for their products by tracking key initiatives, championing the need for funding, providing status updates, and driving prioritization 
• Accountable for industry insights for your products trends and risks (For 1st and 3rd party fraud) to ensure we’re engaged and developing controls where needed
• Take proactive initiative everyday and use your expertise to find opportunities and issues, develop ideas on how to fix them, and then go make it happen!

Skills:

• Business Analytics
• Business Intelligence
• Data Quality Management
• Fraud Management
• Monitoring, Surveillance, and Testing
• Collaboration
• Data Visualization
• Oral Communications
• Problem Solving
• Written Communications
• Analytical Thinking
• Critical Thinking
• Data and Trend Analysis
• Innovative Thinking
• Research

Required Qualifications:

• 5+ years Fraud/risk management experience
• Advanced PowerPoint and Excel skills
• Excellent written, verbal, and interpersonal communication skills
• Self-motivated and possess the ability to work in a fast paced environment and deliver action results quickly
• Ability to engage across many lines of business from analyst level to senior level executives
• Experience with design and implementation of new processes and/or products and controls
• Experience with developing policy and/or technology requirements for initiatives
• Experience with Bank of America change management and project management processes & tools (CAST / UCRA / JIRA / Agile / PPRT, etc.)
• Familiarity with financial reporting, profit & loss (P&L) drivers for use in business case development, impact assessment, and prioritization
• Ability to work in-office at a minimum of three days a week from 8a-5p ET 

Desired Qualifications:

• Functional knowledge of multiple products and/or channels (e.g. Mortgage, CVL, Credit Card, Debit Card, Digital, Call Center, Financial Center, IVR etc.)
• Experience in Six Sigma, Lean, Agile, JIRA, DMAIC
• Basic technical skills in SAS/SQL ideal    

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100)

Pay and benefits information

Pay range

$105,000.00 - $131,100.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.