Fraud Analytics and Innovation Strategy Senior Analyst - Deposit Fraud Strategy

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 a diverse and 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.

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

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.

As a Deposit fraud strategy analyst with the Client Protection organization, you will capitalize on your technical abilities and strategic thinking to solve business challenges and seek opportunities for improvement.  The Deposit fraud team focuses on identifying criminals posing as customers who are intentionally trying to steal from the bank.  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.     

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

• Strategy Development: Develop and implement comprehensive strategies to identify, prevent, and mitigate deposit fraud activities. Stay abreast of emerging trends and tactics to ensure the effectiveness of detection strategies.

• Data Analysis: Leverage data analytics tools and techniques to analyze large datasets, identify patterns, and uncover indicators of deposit fraud activity. Develop predictive models and scoring mechanisms to prioritize potential cases.

• Risk Assessment: Conduct risk assessments to identify vulnerabilities in the organization's systems and processes that may be exploited by fraudsters. Develop mitigation strategies to address these risks.

• Collaboration: Collaborate with various departments, including compliance, fraud investigations, and operations, to ensure effective coordination and information sharing.

• Reporting: Prepare regular reports including key performance indicators, trends, and recommendations for improvement.

This position is not eligible for sponsorship.

Required Qualifications:

• Proficiency in framing problems and developing impactful solutions with minimal oversight

• Intermediate Excel and PowerPoint capability

• Excellent communication and presentation skills

• Ability to interact effectively and build relationships with business partners at all levels

• Experience in managing competing priorities

• Strong proven analytical experience

Desired Qualifications:

• Advanced SAS/SQL coding ability

• Fraud and/or Claims with focus on Deposit Fraud a plus

• Understanding of advanced data analytics and modeling techniques

• Functional knowledge of multiple products and/or channels (e.g. Credit, Debit, Digital, Call Center, etc.)

• Bachelor’s Degree or Master's degree in a relevant field

• Certification in fraud examination or risk management

• Experience in the financial services industry

• Familiarity with developing Tableau dashboards

• Experience presenting to senior leaders

• Experience with hypothesis testing and/or feature prioritization

Shift:

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