Manager- Chennai-Bank Of America-6-9 - TimesJobs.com

Bank of America; Chennai District; On-site; INR 12,00,000 - 18,00,000; Full time

Job summary

A leading financial services institution is seeking a professional based in Chennai for a role involving fraud model validation. The ideal candidate will have an advanced degree in a quantitative discipline and 6-9 years of relevant analytics experience. Responsibilities include developing model approval documentation, conducting validations, and supporting automation initiatives. This position offers a dynamic work environment focused on reducing losses and enhancing customer protection.

Benefits

Competitive benefits

Opportunities for learning and growth

Flexible work environment

Qualifications

• 6 to 9 years of relevant analytics experience, including model risk management.
• Experience in model development and fraud analytics preferred.
• Proficient in SAS or SQL; knowledge of Python/PySpark preferred.

Responsibilities

• Develop approval documentation for new fraud scores and algorithms.
• Conduct periodic model validations and monitor performance metrics.
• Communicate model performance trends to partnering teams.

Skills

Analytics Experience

Model Risk Management

SAS

SQL

Python/PySpark

Visualization Software (Tableau)

Education

Advanced degree in Statistics/Mathematics/Computer Science/Engineering

Technical certifications in SAS, SQL

Tools

SAS

SQL

Python

Tableau

Job description

Overview

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.

We are devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being. Bank of America believes in flexibility to support our employees, with a multi-faceted approach depending on the role.

Working at Bank of America offers opportunities to learn, grow, and make an impact, with the power to make a difference. Join us!

Global Business Services

Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions through a centrally managed, globally integrated delivery model and globally resilient operations. It is recognized for flawless execution, sound risk management, operational resiliency, operational excellence, and innovation. In India, we operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.

Process Overview

Driving reduced losses and customer friction by performing model validation work on a portfolio of fraud models. This role supports the Consumer Client Protection organization, and you will partner with vendors, independent model risk management, technology, and business strategy teams to document, deploy, and assess performance of fraud models used to reduce losses and minimize customer disruption.

Responsibilities

• Work with vendors and internal modeling partners to develop approval documentation for new fraud scores and algorithms, including a comprehensive write-up on model construction, testing and validation, methodology, sampling, and performance.
• Conduct periodic model validations on scores, monitoring metrics such as precision, recall, rank ordering, and other metrics to ensure models perform well and do not deteriorate.
• Partner with Strategies teams to communicate model performance and trends, providing insights where scores are deteriorating or underperforming to support appropriate adjustments.
• Collaborate with Model Risk Management (MRM) to close out follow-up items on partially/conditionally approved models.
• Form strategic partnerships with MRM to develop best practices for fraud model governance that balance rapid deployment with internal and regulatory concerns.
• Develop dashboards and MIS to show model performance, trends, and potential issues.
• Support automation initiatives within the team and target automation of repetitive tasks.

Requirements

Education

• Advanced degree, preferably in Statistics/Mathematics, Computer Science, Engineering or other quantitative discipline from a premier institute
• Certifications (If Any): Technical certifications in SAS, SQL preferred

Foundational skills

• 6 to 9 years of relevant analytics experience, with around 2 years in model risk management; experience in model development and fraud analytics is preferred
• Experience in SAS or SQL is required; knowledge of Python/PySpark strongly preferred. Experience with data extraction tools like Hive, HUE, or Pig is beneficial
• Proficiency with visualization software (Tableau) and presentation software (PowerPoint)
• Excellent communication and organizational skills; ability to think creatively and drive initiative

Desired skills

• Bachelors degree in a quantitative discipline; postgraduate degree is a plus
• U.S. financial services experience is preferable
• Understanding of Fraud, Compliance, or Risk domains is preferable

Shift Timings

11:30 AM to 8:30 PM

Location

Chennai

Learn more about this role

• Job Function: IT Software — Software Products & Services
• Industry: Banking, Financial Services & Insurance (Banking - Retail, Corporate, Co-operative)