Fraud Analytics and Innovation Senior Analyst - Digital Fraud & Scam

Bank of America; Chicago (IL); On-site; USD 100,000 - 134,000; Full time

Benefits offered by this job

Competitive benefits

Job summary

Bank of America is seeking an analytics professional in Chicago (IL) to minimize fraud losses and protect customers’ experiences. You will leverage Excel, SAS, SQL, Tableau and related databases to analyze data, propose policy changes, and support strategy development for multiple money movement products.

The role emphasizes advanced data analysis, collaboration with senior leaders, and opportunities to apply machine learning techniques while maintaining high standards of risk management and

Qualifications

• 2+ years of analytical experience; payment background preferred.
• Proficient in SAS or SQL and Excel.
• Strong quantitative and analytical skills.
• Ability to communicate with executive leadership with professionalism.

Responsibilities

• Perform complex analyses of financial models, market data, and portfolio trends to improve performance.
• Use Excel, SAS, SQL, Tableau to provide analytical support and drive strategy.
• Evaluate data to assess fraud risk and develop mitigation strategies.
• Lead reporting and BI efforts; participate in ML initiatives and policy changes.

Skills

Analytical thinking

Executive communication

Team collaboration

Problem solving

Education

Bachelor's degree in a quantitative discipline

Tools

SAS

SQL

Excel

Tableau

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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Summary:

This job is responsible for performing more complex analysis and modeling to minimize fraud 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/procedural changes within segmentation structures to produce optimal results. Job expectations include evaluating data to assess potential fraud risk and creating mitigation strategies. Responsible for performing more complex analysis and strategy development for multiple money movement products with the goal of maximizing profits and asset growth and minimizing risk and operating losses and/or other financial and marketing exposures.

Responsibilities:

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. Utilizes 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. Evaluates data to assess potential fraud risk and creating mitigation strategies. Proposes policy/procedural changes within segmentation structures to produce optimal results. Recommends ways to help the business achieve desired outcomes and make informed business decisions using data analysis outputs. Leads the coordination of the production of product performance reports and updates for senior management. Develops complex program models to extract data and uses multiple databases to acquire statistical and financial data. Support biometrics capability enhancements and strategy design. Build and develop logic for strategy. Utilizes portfolio trends to propose strategy and policy changes within segmentation structure to produce optimal results. Role would also include project scope leadership where candidate would be responsible for providing fraud requirements, testing, and development of strategies. Excels at risk/reward trade off. Participates in the rollout of leading-edge machine learning technology. 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.

Required Qualifications:

• 2+ years of analytical experience (Payment background preferred)
• Proficient in SAS or SQL and Excel
• Strong quantitative, critical thinking, and analytical skills
• Ability to communicate and interact with a high degree of professionalism with executive level personnel across the business
• Ability to work independently as well as part of a virtual team
• Innovative mindset with the ability to challenge the status quo
• Ability to proactively identify, analyze, and improve upon existing processes for optimization and to meet deadlines

Desired Qualifications:

• 3+ years of fraud experience
• Bachelors degree in a quantitative discipline such as mathematics, statistics, operations research, finance, or business
• Advanced analytical and quantitative skills with demonstrated ability in using data and metrics to identify root causes
• Basic understanding of 1st and 3rd party fraud (claims to charge-off timing, chargeback recovery rights, etc.)

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

Work Schedule:

Shift: 1st shift (United States of America) Hours Per Week: 40 Pay Transparency details US - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110)

Pay and Benefits Information:

Pay range $100,000.00 - $133,600.00 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.

Privacy Statement:

https://careers.bankofamerica.com/en-us/privacy-notice

Company Culture:

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!

Partnering Locally:

Learn about some of the ways Bank of America is making a difference in the communities we serve.

Global Impact:

Learn about the six areas that guide Bank of America’s efforts to help make financial lives better for customers, clients, communities and our teammates.

Opportunity and Inclusion:

Each employee brings unique skills, background and opinions. We see opportunity and inclusion as our platform for innovation and a key component in our success.

Values:

Learn about our four values that represent what we believe.

Pay Transparency:

https://careers.bankofamerica.com/en-us/pay-transparency