Consumer Product Strategy Analyst III

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 performing more complex analysis and modeling to minimize loss exposure and negative impacts to the customer experience. Key responsibilities include utilizing a variety of systems such as Excel, SAS, SQL, Tableau, and other relational data bases to provide analytical support on strategies, ensure goals are met, and propose policy and procedural changes within segmentation structures to produce optimal results. Job expectations include evaluating data to assess potential fraud risk and create mitigation strategies.

The Alert Prioritization Analytics team within the Client Protection Organization is looking for experienced analytical professionals to join our growing team.  We are focused on driving operational and process efficiency to protect the accounts of our clients and minimize both client disruption and fraud loss.  Analysts will have the opportunity to gain exposure to just about all products across Consumer and Small Business, including application fraud, digital money movement like Zelle, account take over, credit and debit cards.  

We are tasked with developing mitigation strategy and tactics spanning first party fraud, third party fraud and scams. Implementation opportunities will span fraud rule changes, policy modifications, queue sequencing optimization and issuance of digital client communication through text, email and push channels. We are looking for smart, energetic candidates with strong technical backgrounds, a great sense of urgency and an excellent approach to teamwork.  We do not require you to have a background in fraud, and while this is advantageous, we can teach you what you need to know as long as you have the right technical skills.

You will be responsible for performing more complex analysis and modeling for multiple products with the goal of maximizing client experience while minimizing risk and operating expenses.  Focus areas will be:

• Developing complex, repeatable queries to extract data and uses multiple databases to acquire statistical and financial data. 

• Develop insightful portfolio monitoring to track both fraud attack risks and performance changes due to strategic implementations. 

• Assess fraud performance tradeoffs through the modification of fraud alert volume review sequencing and policy changes.

• Utilize portfolio trends to propose policy/procedural changes within segmentation structure to produce optimal results. 

•  Build relationships and drive business initiatives across various Client Protection strategies, policy, operations and technology areas. Participates in the rollout of machine learning/AI tools developed to improve performance and monitoring of our operational and strategy performance.

• Drive and support funded technology projects across applicable LOBs, including new product launches, client contact capability enhancements and machine learning based insights. 

• Duties primarily include the regular use of discretion, independent judgment, the ability to communicate with multiple levels of management and the utilization of core leadership behaviors. 

• Proactively managing fraud risk by urgently responding to immediate threats while keeping an eye toward future risks, vulnerabilities, and changes to the fraud landscape.

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

Skills:

• Business Analytics

• Business Intelligence

• Data Quality Management

• Fraud Management

• Monitoring, Surveillance, and Testing

• Collaboration

• Data Visualization

• Oral Communications

• Problem Solving

• Written Communications

• Analytical Thinking

• Critical Thinking

• Data and Trend Analysis

• Innovative Thinking

• Research

Required Qualifications:

•    2+ years of risk analysis, strategy development, or related experience
•    Basic understanding of 1st and 3rd party fraud, scams and/or mules
•    2+ years of SQL/SAS Coding knowledge and/or experience

•    Proven ability to make data-based decisions to drive business results
•    Ability to build and maintain relationships with line of business leaders and multiple stakeholders throughout the organization
•    Strong written and oral communication skills
•    Ability to manage multiple projects in a complex and rapidly-changing environment
•    Ability to work independently as well as part of a team
•    Excellent time management skills
•    Intellectually curious and willing to dive into complete issues\problems and solve

Desired Qualifications:

•    2+ years of risk analysis, strategy development, or related experience
•    2+ years of SQL/SAS Coding experience
•    2+ years of fraud/fraud detection experience and/or 2+ years of 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
•    Bachelor’s degree, ideally in a quantitative discipline such as mathematics, statistics, economics, business, engineering, finance or operations research
•    Experience with Python and usage of more advanced analytical, visualization and data extraction tools (H2O, HUE, Pig, Spark, Hive, Tableau) is strongly preferred
 

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NY - New York - 1114 Avenue Of The Americas - Grace (NY1544)

Pay and benefits information

Pay range

$79,700.00 - $118,900.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.