Job Description:

Enterprise 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 leading a group of employees who perform strategic analysis to understand portfolio risk, increase profitability, and optimize operational performance. Key responsibilities include determining strategic priorities for the team, identifying trends, and leading efforts to maximize risk versus return for the business unit. Job expectations include using data and analytics to solve complex problems, coaching and developing employees, and partnering across technology, product, and risk leadership to drive performance.

This role will support Emerging Risk Fraud Strategies in Digital products (primarily Zelle).  Role will be responsible for creating fraud/scam strategies and ensuring proper risk controls are deployed, while adhering to best practices. Team member will provide recommendations on mitigation efforts, ensuring monitors are in place, and will self-create initiatives as needed. Will conduct defect reviews of 3rd party/scam loss cases to identify any gaps in Fraud strategy and/or procedural adjustments. Will track Strategy performance tracking and rule optimization on a recurring basis. 

Team member will also be responsible for developing and validating fraud variables utilized in strategies.  Role also includes project management where candidate will be responsible for providing fraud requirements, testing, and development of strategies. Projects include network mandates, Product team support, and internal projects. 

Several key areas:

• Fraud Detection and Prevention: Develop, implement, and continuously improve fraud detection algorithms and systems. Perform regular audits and analysis of transaction data to detect new fraud trends. Development of new fraud strategies using statistical and analytical techniques. Goal will be to identify and mitigate new and emerging fraud threats.

• Data Analysis and Reporting: Conduct in-depth analysis of large datasets using SQL/SAS to identify and mitigate fraud risks. Generate detailed reports and dashboards using data visualization tools such as Tableau. Design and monitor key fraud metrics and KPIs to evaluate the effectiveness of fraud prevention strategies Identifying new sources of data (internal or vendor-provided) that can enrich our existing fraud 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.

• 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

• Systems Integration : Integrate fraud detection systems with core banking and transaction processing systems using APIs and middleware solutions.  Collaborate with IT and software development teams to ensure seamless integration and functionality of fraud management systems. Manage and optimize the performance of fraud detection systems and tools

• 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.

Responsibilities:

• 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
• Supports department-wide strategies and portfolio trend analysis, forecasting, and risk/control performance
• Leads innovation by identifying and championing large scale initiatives that improve the risk management, profitability, and control oversight of risks for the business unit
• Identifies business trends based on economic and portfolio conditions and communicates findings to senior management 
• Coaches employees on best practices for structuring complex problems, performing analysis, and communicating the results and implications of their work
• Maintains strategic relationships with peers and counterparts across product, technology, and business control functions

• Team Leadership and Collaboration: Lead a team of fraud analysts and investigators, providing guidance and expertise on complex fraud cases. Work closely with compliance, legal, risk management, and other relevant departments to align fraud management efforts with organizational goals. Conduct training sessions and workshops to educate staff on fraud detection techniques and policies.

▪ Identify process improvements and efficiencies via data analysis

▪ Deliver accurate metrics related to fraud and claim activity. Validate the integrity and quality of data required for performing analysis

▪ Partner with claims, policy, strategy, and product teams to deliver data insights and analysis that inform critical decisions and help achieve goals

Required Qualifications:

•  Advanced to expert level in SQL and SAS

•  Minimum 7 years of work experience in large financial institution with specialization in data analytics

•  Minimum 3 years of fraud experience in digital products (Zelle, Wires, ACH, Billpay)

•  Expertise in fraud detection and management platforms , specifically SAS Fraud Management and creation of user defined variables for rule development.

•  Ability to work in a fast-paced, dynamic environment is critical.

•  Must have exceptional organizational, project management and communications skills

Desired Qualifications:

•  Familiarity with other programming languages such as Python, R, or Java.  Knowledge of data extraction tools such as Hive or Hue

•  Proven track record of building and deploying analytical solutions that have resulted in material financial results.

•  Ability to work independently as well as effectively work in teams with individuals with a variety of skills and backgrounds.

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

▪ Basic understanding of 1st and 3rd party fraud (claims to charge-off timing, chargeback recovery rights, etc.)

▪ Proven strong analytical and communication skills

• Generate detailed reports and dashboards in Tableau

• Usage of Big Data technologies such as Hadoop, Spark, or similar.

• Knowledge of regulation like Reg E, EWS mandates and Scam liability.

• Working knowledge of change management tools (JIRA) and documentation. Strong understanding of database management systems and data warehousing. Working knowledge on using WinSCP/Putty and UNIX

• Experience in working with tools like SAS E-miner and use machine learning models to identify patterns and anomalies in transaction data indicative of fraudulent activity

• Usage of Big Data technologies such as Hadoop, Spark, or similar.

• Bachelors degree preferably in a quantitative discipline such as mathematics, statistics, operations research, engineering, computer science, finance or business

Skills:

• Analytical Thinking
• Data and Trend Analysis
• Fraud Management
• Prioritization
• Talent Development
• Business Analytics
• Critical Thinking
• Data Visualization
• Decision Making
• Presentation Skills

Minimum Education Requirement: Bachelors Degree or equivalent work experience

Shift:

1st shift (United States of America)

Hours Per Week: 

40