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Consumer Product Strategy Analyst III - Client Protection

Phoenix, Arizona;

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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

This position is not eligible for sponsorship. 

Job Description:
This job is responsible for performing more complex analysis and modeling to minimize 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 and procedural changes within segmentation structures to produce optimal results. Job expectations include evaluating data to assess potential fraud risk and create mitigation strategies.

We are searching for a motivated person to help drive that transformation in our Client Protection fraud prevention team focused on Deposit New Accounts.

The Deposit New Account Fraud Risk Strategies team is keenly focused on product innovation and responsible growth while protecting Bank of America and its customers from fraud attacks at the application and early month on book stages. 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 work with fraud prevention managers and analysts responsible for performing strategic analysis to improve portfolio risk, profitability, performance forecasting and operational performance for consumer checking and savings 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 through development of application and transaction monitoring, identification of business trends based on economic and portfolio conditions, and execution/monitoring of decision engine strategy enhancements.

We are looking for someone with strong communication skills, sound business judgement, and is results oriented with a track record of thriving in a fast paced, entrepreneurial environment who will be responsible for performing complex analysis and strategy development for multiple retail banking products across digital and physical application channels with the goal of maximizing profits and asset growth and minimizing risk and operating losses and/or other financial exposures.

 

Responsibilities:

  • Recommends ways to help the business achieve desired outcomes and make informed business decisions using data analysis outputs

  • 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

  • Leads coordination of the production of product performance reports and updates for senior management

  • Support biometrics capability enhancements and strategy design.

  • Build and develop decision engine rule logic for mitigation strategies.

  • Utilizes portfolio trends to propose strategy and policy changes within segmentation structure to produce optimal results.

  • Project scope leadership where candidate would be responsible for providing fraud requirements, testing, and development of strategies.

  • Participates in the rollout of leading-edge machine learning technology.

  • Regular use of discretion, independent judgment, the ability to communicate with multiple levels of management and the utilization of core leadership behaviors.

  • Develops complex program models to extract data and uses multiple databases to acquire statistical and financial data.

Required Qualifications:

•    Previous risk analysis, strategy development, or related experience.
•    Basic understanding of 1st and 3rd party fraud, scams and/or mules
•    SQL/SAS Coding knowledge and/or experience.
•    Ability to build and maintain relationships with line of business leaders and multiple stakeholders throughout the organization.
•    Strong written and oral communication skills.
•    Ability to manage multiple projects in a complex and rapidly-changing environment.
•    Ability to work independently as well as part of a team.
•    Excellent time management skills.
•    Intellectually curious and willing to dive into complete issues\problems and solve.

Desired Qualifications:
•    3+ years of risk analysis, strategy development, or related experience.
•    3+ years of SQL/SAS Coding experience.
•    2+ years of fraud/fraud detection experience and/or 2+ years of analytical /financial experience (Payment card /Retail Bank Finance background preferred)
•    Proven track record of building and deploying Fraud process and control changes
•    Advanced Excel capability
•    Bachelor’s degree, ideally in a quantitative discipline such as mathematics, statistics, economics, business, engineering, finance or operations research
•    Experience with Python and usage of more advanced analytical, visualization and data extraction tools (H2O, HUE, Pig, Spark, Hive, Tableau) is strongly preferred.

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

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-24020208

Manages People: No

Travel: Yes, 5% of the time

New York pay and benefits information

New York pay range:

$79,700 - $117,300 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.