Cons Prod Strategic Analyst IV

Bank of America; Newark (NJ); On-site; USD 80,000 - 120,000; Full time

Job summary

An established industry player is seeking an experienced data scientist to join their Fraud Prevention and Detection team. This role involves tackling complex data science projects to combat financial crime using advanced analytical techniques and graph databases. You will collaborate with various internal partners to develop solutions aimed at reducing fraud losses and enhancing client experiences. If you are passionate about data analytics and have a knack for problem-solving in a dynamic environment, this position offers a unique opportunity to make a significant impact in the financial sector.

Qualifications

• 4+ years of experience in data and analytics required.
• Proficient with SQL and one of SAS, Python, or Java.
• Model development experience leveraging machine learning.

Responsibilities

• Conduct complex analysis to improve portfolio risk and performance.
• Develop and tune graph algorithms for fraud detection.
• Collaborate with teams to deploy advanced analytical solutions.

Skills

Analytical Thinking

Business Analytics

Data and Trend Analysis

Fraud Management

Problem Solving

Collaboration

Innovative Thinking

Monitoring, Surveillance, and Testing

Presentation Skills

Risk Management

Data Visualization

Interpret Relevant Laws, Rules, and Regulations

Issue Management

Oral Communications

Written Communications

Education

Bachelor’s degree

Tools

SQL

SAS

Python

Java

H2O

Job description

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities, and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing, and rewarding performance, and how we make an impact in the communities we serve.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:
This job is responsible for performing more complex analysis aimed at improving portfolio risk, profitability, performance forecasting, and operational performance for consumer products and related divisions, such as credit cards. Key responsibilities include applying knowledge of multiple business and technical-related topics and independently driving strategic improvements, large-scale projects, and initiatives. Job expectations include working with business counterparts within the Line of Business and partner organizations including Risk and Product teams.

Fraud Prevention and Detection is looking for an energetic and inquisitive experienced data scientist to join our team and help us combat financial crime using graph databases. In this role, you will be expected to work on large and complex data science projects. Collaborating with internal strategy, technology, product, and policy partners to deploy advanced analytical solutions with the goal of reducing fraud losses, lowering false positive impacts, improving client experience, and ensuring the Bank minimizes its total cost of fraud.

Responsibilities:

• Link Analysis/Graph analytics to find and mitigate densely connected fraud networks.
• Developing and tuning graph algorithms to maximize detection of fraud.
• Work with software developers to create/enhance link analysis process for new fraud detection use cases, and assist with the generation, prioritization, and investigation of fraud rings.
• Coordinate with stakeholders and tech to deliver process end-to-end, be the gate keeper for issue tracking and remediation.
• Gather business requirements and translate to technical logic for script development, and design, create and monitor daily report/QA metrics for fraud detection process.
• Document and prepare attestation response for process and fraud strategy with governance team.
• Identify, track, and recommend opportunities for process improvement.
• Coach and mentor peers to improve proficiency in a variety of systems and serve as a subject matter expert on multiple business and technical-related topics.
• Identify business trends based on economic and portfolio conditions and communicate findings to senior management.
• Support execution of large-scale projects, such as platform conversions or new project integrations by conducting advanced reporting and drawing analytics-based insights.

Required Qualifications:

• A minimum of 4 years of experience in data and analytics is required.
• Must be proficient with SQL and one of SAS, Python, or Java.
• Critical problem-solving skills including selection of data and deployment of solutions.
• Proven ability to manage projects, exercise thought leadership and work with limited direction on complex problems to achieve project goals while also leading a broader team.
• 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.
• Model development experience leveraging supervised and unsupervised machine learning (regression, tree-based algorithms, neural networks).
• Expertise handling and manipulating data across its lifecycle in a variety of formats, sizes, and storage technologies to solve a problem (e.g., structured, semi-structured, unstructured; graph; hadoop; kafka).

Desired Qualifications:

• Advanced Quantitative degree (Masters or PhD).
• 7+ years of experience; work in financial services is very helpful, with preference to fraud, credit, cybersecurity, or other heavily quantitative areas.
• Understanding of advanced machine learning methodologies including neural networks, ensemble learning like XGB, and other techniques.
• Proficient with H2O or similar advanced analytical tools.

Skills:

• Analytical Thinking
• Business Analytics
• Data and Trend Analysis
• Fraud Management
• Problem Solving
• Collaboration
• Innovative Thinking
• Monitoring, Surveillance, and Testing
• Presentation Skills
• Risk Management
• Data Visualization
• Interpret Relevant Laws, Rules, and Regulations
• Issue Management
• Oral Communications
• Written Communications

Minimum Education Requirement: Bachelor’s degree or equivalent work experience

Shift: 1st shift (United States of America)

Hours Per Week: 40