• Job Description

  Req#: 25025271

  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!

  Job Description:
  This job is responsible for performing 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 and ensure goals are met. Job expectations include evaluating data to assess potential fraud risk and creating mitigation strategies.

  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.

  
  Responsibilities:

  • Analyzes and interprets large sets of raw data to recommend ways to help the business achieve desired outcomes and make informed business decisions

  • Defines, gathers, analyzes, and interprets data using applications and technologies to forecast future trends and communicates to leaders and partners the statistical analysis results and predictions

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

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

  • 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

  • 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

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

  • 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

  • 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

  • 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 Skills:

  • 1+ years of fraud experience and/or 1+ years of analytical experience (Mortgage/HELOC / CVL background preferred)

  • 1+ years of SQL and / or SAS

  • 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 Skills:

  • Bachelor’s 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

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

  • 3+ years of SQL and / or SAS .

  • 3+ years of ETL experience

  • Experience with underwriting practices for consumer and small business product

  • Data Quality Management

  • Monitoring, Surveillance, and Testing

  • Data Visualization

  • Data and Trend Analysis

  For internal employees; participation in a work from home posture does not make you ineligible to post.

  It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

  Shift:

  1st shift (United States of America)

  Hours Per Week:

  40

  Pay Transparency details

  US - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110), US - NY - New York - 1114 Avenue Of The Americas - Grace (NY1544)

  Pay and benefits information

  Pay range

  $90,000.00 - $95,500.00 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.

• About the company

  Bank of America is one of the world's largest financial institutions, serving individuals, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

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