Consumer Product Strategy Analyst III - Fraud Model Governance Analyst

$79,700 - $118,900/Yr

Bank of America - Newark, DE

Full-time - Mid Level

Newark, DE

10,001+ employees

Credit Intermediation and Related Activities

About the position

The Consumer Product Strategy Analyst III - Fraud Model Governance Analyst 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 strategies, assess fraud risk, and propose policy changes to optimize results. The analyst will also develop technical documentation for models, collaborate with developers, and ensure compliance with model validation standards.

Responsibilities

• Recommends ways to help the business achieve desired outcomes and make informed business decisions using data analysis outputs
• 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
• Leads coordination of the production of product performance reports and updates for senior management
• Develops advanced technical documentation for internally- and vendor-developed models
• Works closely with developers to understand how the model works and provide effective challenge to methodology and ensure accuracy
• Partners with technology and model users to schedule deployments and plan for future model installations
• Works with independent model risk management, legal and compliance teams to ensure models are fully validated and approved for usage
• Produces analytics to ensure early model results are consistent with expectations
• Conducts regular model monitoring and shares performance results and analytical insights with model stakeholders and users
• Supports Bank policy for Artificial Intelligence models and ensures risks of using advanced techniques are identified and mitigated
• Tracks model changes after deployment and ensures appropriate documentation reflects any adjustments, patches or updates
• Drives model performance analytics above and beyond Model Risk Management policy requirements, including granular performance monitoring, early trend detection, root cause analysis, and gap analysis

Requirements

• A minimum of 3 years of experience in model validation or development is required
• Must be proficient with SQL and SAS
• Excellent technical writing skills
• Critical problem solving abilities including selection of data and deployment of solutions
• Excellent communication and influencing skills
• Thrives in fast-paced and highly dynamic environment
• Intellectual curiosity and strong urge to figure out the 'whys' of a problem and come up with creative solutions

Nice-to-haves

• Advanced Quantitative degree (Masters or PhD)
• 5+ years of experience working in model validation
• Experience in financial services (following SR-11-7 guidance is very desirable)
• Proficiency with Python and Tableau

Benefits

• Paid time off
• Industry-leading benefits
• Access to resources and support for employees