Fraud Analytics and Innovation Lead Analyst - Fraud Strategy

Fraud Analytics and Innovation Lead Analyst - Fraud Strategy

Jacksonville, Florida;Plano, Texas; Richmond, Virginia; Sun City West, Arizona; Boston, Massachusetts; Chandler, Arizona; Charlotte, North Carolina; Tampa, Florida; Chicago, Illinois; Newark, Delaware; Phoenix, Arizona; Chandler, Arizona

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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.

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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!

Job Summary :

This job is responsible for performing more complex analysis aimed at improving portfolio risk, profitability, performance forecasting, and operational performance for consumer products and related divisions, such as credit cards. Key responsibilities include applying knowledge of multiple business and technical-related topics, independently driving strategic improvements, large-scale projects, and initiatives. Job expectations include working with business counterparts within the line of business and partner organizations (e.g.,. Risk, Product, etc.).

Are you a strategic, analytical thinker with a passion for fighting financial crime? Ready for the chance to drive real change in an organization? We are searching for a motivated fraud strategy analyst to help drive that transformation within our deposit client identity and onboarding space. The Deposit New Account Fraud Risk Strategies team is keenly focused on supporting product innovation and responsible growth while preventing, detecting and mitigation financial threats against our checking and savings products. This is a highly visible role that will focus on identifying trends and strategy opportunities related to fraudulent applications, subsequent transactional patterns and operational treatment efficiencies.

A successful candidate will be an individual contributor on a team of other analysts responsible for performing strategic analysis to improve portfolio risk, profitability, performance forecasting and operational performance for consumer and small business deposit products. This position requires a rigorous analytical focus on monitoring for shifts in fraud activity, transactional dynamics and effectively communicating trends and opportunities for improvement. Key functions involve developing application and transaction monitoring, identifying business trends based on economic and portfolio conditions and executing / monitoring strategic enhancements.

Sound technical knowledge of SAS / SQL, financial statements, business processes, and fraud subject matter expertise in the areas of KYC, KYB, Identity Theft, First Party Fraud and Synthetic Identities are keys to excelling in this role.

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

Coaches and mentors peers to improve proficiency in a variety of systems and serves as a subject matter expert on multiple business and technical-related topics

Identifies business trends based on economic and portfolio conditions and communicates findings to senior management

Supports execution of large scale projects, such as platform conversions or new project integrations, by conducting advanced reporting and drawing analytics based insights

Responsible for oversight of deposit product application fraud, trend identification and development of mitigation strategies to responsibly manage fraud risk.

Ensures effective governance and cadence on progress reviews, communication, stakeholder updates

Guarantees seamless hand off to operations team for new processes

Provide recommendations on mitigation efforts, ensuring monitors are in place, and will self-create initiatives as needed.

Collaborate with cross-functional teams to integrate fraud detection measures into existing systems and processes.

Stay abreast of industry trends, emerging threats, and technological advancements to continuously enhance fraud prevention methodologies.

Analyze data and conduct investigations to identify patterns, trends, and anomalies indicative of potential fraud.

Identifying new sources of data (internal or vendor-provided) that can enrich our existing detection processes, be added to our decision systems, and allow for new detection strategies to be developed. Will require close coordination with partners in Fraud Technology.

Ensuring proper risk controls are deployed, while adhering to best practices.

Provide oversight on defect reviews of 3rd party / scam loss cases to identify any gaps in Fraud strategy and / or procedural adjustments.

Providing fraud requirements, testing, and development of strategies for new project and endeavors

Design and monitor key fraud metrics and KPIs to evaluate the effectiveness of fraud prevention.

Monitor Strategy performance and Optimization of existing detection strategies to determine areas where rules can be adjusted to decline fewer false positives and improve the ROI and overall performance of our fraud strategies.

Identify process improvements and efficiencies via data analysis.

Partner with claims, policy, strategy, and product teams to deliver data insights and analysis that inform critical decisions and help achieve goals.

Required Qualifications :

3+ years of experience in SQL and SAS querying / coding

3+ years of experience in fraud prevention and strategic risk mitigation

Intermediate Excel, PowerPoint and / or Tableau experience

Demonstrate strong analytical skills

Strong organizational and written / oral communication skills

Self-starter capable of generating meaningful work and driving results

Ability to work in a fast paced, dynamic environment

Strong strategic thinking skills with a track record of breaking complex problems down and developing clear strategy / action plans

Proven track record of proactively identifying optimization opportunities for existing processes

Ability to develop and / or optimize mitigation strategies or manage large fraud programs / initiatives

Aptitude for working across functional lines and organizational levels to drive results

Ability to present, lead, support, and influence senior management and business stakeholders

Desired Qualifications :

BA / BS in Computer Science, Data Science, Statistics, or a related field

Business analysis / Consulting experience

Fraud subject matter expertise in these domains : KYC, KYB, Identity Theft, First Party Fraud and Synthetic Identities

5+ years of SAS or SQL Coding experience

5+ years of experience in fraud prevention and strategic risk mitigation

Background in Technology, Agile, Systems Integration Testing (SIT), or User Acceptance Testing (UAT)

Leadership and management skills, including development of teams and individuals

Experience with multiple banking products such as, Digital Money Movement (Zelle, ACH, Wires) Deposit (DDA, Checks), Cards (Credit and Debit)

Skills : Analytical Thinking

Business Analytics

Data and Trend Analysis

Fraud Management

Problem Solving

Collaboration

Innovative Thinking

Monitoring, Surveillance, and Testing

Presentation Skills

Risk Management

Data Visualization

Interpret Relevant Laws, Rules, and Regulations

Issue Management

Oral Communications

Written Communications

Shift :

1st shift (United States of America)

Hours Per Week : 40

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

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Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy ("Policy") establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

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. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank's required accommodation request process before your first day of work.

This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.