Consumer Product Strategy Analyst III - Fraud Detection Strategies

$79,700 - $118,900/Yr

Bank of America - Plano, TX

Full-time - Mid Level

Plano, TX

Credit Intermediation and Related Activities

About the position

The Consumer Product Strategy Analyst III - Fraud Detection Strategies at Bank of America is responsible for performing complex analysis and modeling to minimize loss exposure and enhance customer experience. This role involves utilizing various analytical tools to support fraud mitigation strategies, assess potential fraud risks, and propose policy changes to optimize results. The analyst will work closely with business and operations teams to develop and refine fraud policies, ensuring a balance between fraud risk management and operational costs.

Responsibilities

• 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 while monitoring future risks and vulnerabilities.
• Challenge the status quo to identify opportunities for refining fraud policies and procedures in collaboration with business and operations partners.
• Recommend strategies to help the business achieve desired outcomes based on data analysis.
• Perform complex analysis of financial models, market data, and portfolio trends to improve product performance and operational efficiency.
• Lead the production of product performance reports and updates for senior management.

Requirements

• 3+ years of risk analysis, strategy development, or related experience.
• 3+ years of SQL/SAS coding experience.
• Basic understanding of 1st and 3rd party fraud, scams, and/or mules.
• Strong written and oral communication skills.
• Ability to manage multiple projects in a complex and rapidly-changing environment.
• Excellent time management skills.
• Intellectually curious and willing to solve complex issues.

Nice-to-haves

• 2+ years of fraud detection experience and/or analytical/financial experience (Payment card/Retail Bank Finance background preferred).
• Proven track record of building and deploying fraud process and control changes.
• Advanced Excel capability.
• Experience with Python and advanced analytical tools (H2O, HUE, Pig, Spark, Hive, Tableau) is strongly preferred.

Benefits

• Paid time off
• Industry-leading benefits
• Access to resources and support for employees
• Annual discretionary award based on performance.