Consumer Product Strategy Analyst III - Fraud Detection Strategies

$79,700 - $118,900/Yr

Bank of America - Newark, NJ

Full-time - Entry Level

Newark, NJ

Credit Intermediation and Related Activities

About the position

The Analyst position in the Fraud Prevention team at Bank of America is responsible for performing complex analysis and modeling to minimize loss exposure and enhance customer experience. The role involves utilizing various analytical tools to support strategies, assess fraud risks, and propose policy changes to optimize results. The analyst will drive analytics to develop fraud mitigation rules, manage fraud risks proactively, and collaborate with multiple stakeholders to refine fraud policies and procedures.

Responsibilities

• Perform complex analysis and modeling to minimize loss exposure and enhance customer experience.
• Utilize systems such as Excel, SAS, SQL, and Tableau for analytical support on strategies.
• Evaluate data to assess potential fraud risk and create mitigation strategies.
• Drive analytics to develop fraud mitigation rules balancing fraud risk, client impact, operational costs, and revenue implications.
• Proactively manage fraud risk by responding to immediate threats and monitoring future risks.
• Challenge the status quo to find opportunities for refining fraud policies and procedures.
• Recommend ways to help the business achieve desired outcomes using data analysis outputs.
• Perform complex analysis of financial models, market data, and portfolio trends to improve performance forecasting and operational performance.
• Lead coordination of product performance reports and updates for senior management.

Requirements

• SAS/SQL coding experience.
• Experience in risk analysis, strategy development, or related fields.
• Basic understanding of 1st and 3rd party fraud, scams, and/or mules.
• Ability to build and maintain relationships with business leaders and stakeholders.
• Strong written and oral communication skills.
• Ability to manage multiple projects in a complex environment.
• Ability to work independently and as part of a team.
• Excellent time management skills.
• Intellectually curious and willing to solve complex issues.

Nice-to-haves

• 3+ years of risk analysis, strategy development, or related experience.
• 3+ years of SQL/SAS coding experience.
• 2+ years of fraud detection experience or analytical/financial experience.
• Proven track record of building and deploying fraud process and control changes.
• Advanced Excel capability.
• Bachelor's degree in a quantitative discipline.
• Experience with Python and advanced analytical tools (H2O, HUE, Pig, Spark, Hive, Tableau).

Benefits

• Industry-leading benefits
• Access to paid time off
• Resources and support for employees
• Discretionary incentive eligibility
• Annual discretionary award based on performance