Consumer Product Strategy Analyst III - Specialty Fraud Strategy Analysis & Reporting

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!

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.

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

LOB Description

Client Protection is looking for an experienced analyst to join the Specialty Fraud strategy team. This is an exciting opportunity given the constantly evolving nature of fraud tactics across a diverse suite of products including Home Loans, Vehicle Lending, Small Business Loans, Health Savings Accounts, Reward Point redemptions and Mass Compromise. As a Fraud Strategy Analyst with the Client Protection organization, you will capitalize on technical abilities and strategic thinking to solve business challenges and seek opportunities for improvement.  You will join a team of fraud professionals who are dedicated to stopping criminals and protecting customers.  In the role you will spend time analyzing difficult problems as we try to stay one step ahead of the fraudsters.   You will develop complex defenses designed to minimize the impact to good customers while maximizing fraud loss avoidance.  You will work across multiple partner organizations and represent our team as a subject matter expert.  We are looking for someone with strong communication skills, sound business judgement, results oriented with a track record of thriving in a fast-paced entrepreneurial environment.  This role offers a unique opportunity to drive transformation of fraud capabilities across a variety of Consumer and Small Business products.

The role will be responsible for several key areas:

• Develop and implement robust fraud surveillance and controls across the Specialty product suite
• 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.
• 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.
• Policy and Strategy Development: Stay updated with the latest fraud trends, regulatory requirements, and best practices.  Lead the creation and refinement of fraud detection and prevention strategies.

Required Qualifications:

▪  3+ years of fraud experience and/or  3+ years of analytical experience (Mortgage/HELOC / CVL background preferred)

▪  5+ years of SQL and / or SAS .

▪  5+ years of ETL experience

▪ Strong analytical and critical thinking skills

▪ Ability to communicate and interact with a high degree of professionalism with business partners across the business

▪ Ability to work independently as well as part of a virtual team

▪ Innovative mindset with the ability to challenge the status quo

▪ Ability to proactively identify, analyze, and improve upon existing processes for optimization and to meet deadlines

▪ Proven strong analytical and communication skills

▪ Experience interpreting data and tailoring views to different audiences   

Desired Qualifications:

▪ Bachelors degree in a quantitative discipline such as technology, finance, or business

▪ Advanced analytical and quantitative skills with demonstrated ability in using data and metrics to identify root causes

▪ 3+ years of Tableau

▪ Experience with underwriting practices for consumer and small business products

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:

Hours Per Week: