Fraud Analytics and Innovation Senior Analyst

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 making 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 flexibility 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!

Enterprise Job Description:

This role involves performing complex analysis and modeling to minimize fraud loss exposure and enhance customer experience. Responsibilities include utilizing systems such as Excel, SAS, SQL, Tableau, and relational databases to support strategies, meet goals, and propose policy or procedural changes within segmentation structures to optimize results. The role also involves evaluating data to assess potential fraud risks and developing mitigation strategies.

Responsibilities:

• Analyze financial models, market data, and portfolio trends to understand product performance and improve risk management, profitability, and operational performance.
• Use systems like Excel, SAS, SQL, Tableau, and relational databases for analytical support and goal achievement.
• Assess data for potential fraud risks and develop mitigation strategies.
• Propose policy or procedural changes within segmentation structures to optimize results.
• Recommend strategies to help the business achieve desired outcomes using data analysis.
• Coordinate the production of product performance reports and updates for senior management.

Skills:

• Business Analytics
• Business Intelligence
• Data Quality Management
• Fraud Management
• Monitoring, Surveillance, and Testing
• Collaboration
• Data Visualization
• Oral and Written Communications
• Problem Solving
• Analytical and Critical Thinking
• Data and Trend Analysis
• Innovative Thinking
• Research

LOB Specific Information:

Client Protection seeks an experienced analyst for the Payment Card Fraud Strategy team. This role involves analyzing complex problems, developing defenses to minimize customer impact while maximizing fraud loss avoidance, and collaborating across teams. The candidate should have strong communication skills, sound judgment, and thrive in a fast-paced environment. The position offers an opportunity to transform fraud capabilities across various consumer and small business products.

The key areas include:

• Developing and implementing fraud surveillance and controls across multiple card products.
• Providing mitigation recommendations and initiating improvements.
• Collaborating with teams to integrate fraud detection measures.
• Staying updated on industry trends and emerging threats.
• Analyzing data to identify fraud patterns and anomalies.
• Identifying new data sources for detection enhancement.
• Ensuring risk controls are properly deployed.
• Designing and monitoring fraud metrics and KPIs.
• Optimizing existing detection strategies.
• Leading policy and strategy development based on latest fraud trends and regulations.

Required Qualifications:

• Experience in risk analysis, strategy development, or related fields.
• Understanding of fraud, scams, and mules.
• SQL/SAS coding knowledge or experience.
• Ability to build relationships with stakeholders.
• Strong communication skills.
• Ability to manage multiple projects in a dynamic environment.
• Independence and teamwork skills.
• Excellent time management.
• Curiosity and problem-solving mindset.

Desired Qualifications:

• Over 3 years of risk analysis or strategy experience.
• SQL/SAS coding experience.
• Fraud detection or analytical experience, preferably in payments or banking.
• Proven fraud process development experience.
• Advanced Excel skills.
• Bachelor’s degree in a quantitative discipline.
• Experience with Python and advanced analytics tools (e.g., Tableau, Spark, Hive) is preferred.

Shift: 1st shift (U.S.)

Hours Per Week: 40

Pay Range: $105,000 - $131,100 annually, based on experience and skills. Discretionary incentives are available. Benefits are provided, including paid time off and resources to support employee well-being.