Wealth Management Fraud & Claims - Sr. Fraud Analyst

94-1687665 Bank of America, National Association; Pennington (NJ); On-site; USD 33,000 - 43,000; Full time

Job summary

Bank of America, National Association’s Merrill Wealth Management division seeks a Fraud & Claims Associate to handle complex customer situations related to fraudulent activity. You will respond to inbound calls, initiate and update fraud claims, and work with clients to restore confidence while protecting assets.

The role requires attention to detail, strong problem-solving, and the ability to navigate multiple systems to resolve disputes across credit, debit, checks, and online transfers for

Qualifications

• 1+ years of fraud servicing or call center experience.
• Has strong analytical and organizational skills and demonstrates the ability to solve complex problems by reviewing related information
• Demonstrates a strong sense of urgency and can work in a fast-paced, risk-aware environment with focus on client experience
• Displays passion, integrity, commitment and drive to deliver a positive service that improves clients’ financial lives
• Understands how life events affect a client’s financial situation and can advise solutions and resolve complex problems
• Commitment to excellent attendance with reliability and flexibility including weekends and holidays
• Dependable team-player attitude and ability to handle calls immediately
• Communicates effectively and confidently with all clients to improve their financial lives
• Able to engage with clients while navigating multiple screens and build rapport
• Comfortable receiving ongoing feedback and coaching
• Ability to learn and adapt to new information and technology platforms
• Minimum intermediate level of proficiency with computers and current technology

Responsibilities

• Handle inbound calls from clients, branch offices, banking centers, and internal associates.
• Research and resolve reports of suspected fraudulent activity.
• Initiate and update fraud and billing disputes across wealth banking products.
• Assist with triage related to Executive Escalations and Incident Response fraud activities.
• Review and document suspected fraud with accurate data captured during client interactions.
• Follow processes and guidelines to do what is right for clients and the bank, compliant with laws.
• Assist clients and internal partners with banking claim inquiries, initiation and updates.

Skills

Customer Focus

Data Collection

Due Diligence

Issue Management

Oral Communications

Active Listening

Adaptability

Attention to Detail

Policies, Procedures & Guidelines

Written Communications

Business Acumen

Collaboration

Critical Thinking

Job description

Job Description:

Merrill Wealth Management is a leading provider of comprehensive wealth management and investment products and services for individuals, companies, and institutions. Merrill Wealth Management is one of the largest businesses of its kind in the world specializing in goals-based wealth management, including planning for retirement, education, legacy, and other life goals through investment advice and guidance.

Merrill’s Financial Advisors and Wealth Management Client Associates help clients pursue the life they envision through a personal relationship with their advisory team committed to their needs. We believe trust comes from transparency. Our trusted advisory teams are equipped with access to the investment insights of Merrill coupled with the banking convenience of Bank of America.

At Merrill, we empower you to bring your whole self to work. We value diversity in our thoughts, business, and within our employees and clients. Our Wealth Management team represents an array of different backgrounds and bring their unique perspectives, ideas and experiences, helping to create a work community that is culture driven, resilient, results focused and effective.

Job Description:

This job is responsible for handling complex and escalated customer situations regarding possible fraudulent account activity. Key responsibilities include receiving inbound calls and takes appropriate action requiring accuracy on complex transactions. Job expectations include performing functions related to research and resolution of fraudulent activity, service support, and delivering practical, innovative solutions to clients while focusing on retention and re-establishing client confidence.

Wealth Management Fraud & Claims associates will handle inbound calls from clients, branch offices, banking centers, and various internal associates. They will also be responsible for the claim initiation and status updates of various fraud and billing disputes, on our clients’ bank accounts. Associates will handle a wide variety of claim types including but not limited to: credit card, debit card, ATM, check fraud, ACH, and online wire transfers for wealth banking products.

Responsibilities:

• Services banking products with high-risk activity to maximize approval of legitimate transactions, minimize client impact at the point of sale, identify fraudulent activity and restrict account activity
• Assists Fraud Strategy partners with development of new tactics by facilitating controlled tests and simulations within the production environment
• Tests existing customer facing capabilities (credit, debit, transactions, deposit activity, and online activities) for unknown vulnerabilities resulting in potential fraudulent exploitation and unplanned loss
• Participates in triage related to Executive Escalations & Incident Response fraud activities
• Reviews and investigates reports of suspected fraudulent activity with accurate recording of data captured during client interactions
• Follows established processes and guidelines in daily activities to do what is right for clients and the bank, adhering to all applicable laws and regulation
• Assist clients and internal partners with banking claim and suspicious alert inquiries, initiation and updates

Required Qualifications:

• 1+ years of fraud servicingor call center experience.
• Has strong analytical and organizational skills and demonstrates the ability to solve complex problems by reviewing related information
• Demonstrates a strong sense of urgency and is able to work in a fast-paced, ever-changing environment with a strong focus on risk mitigation and client experience.
• Displays passion, integrity, commitment and drive to deliver a positive, differentiated service that improves our clients’ financial lives
• Fully understands how life events can impact a client’s financial situation and is prepared to actively advise solutions and analyze/resolve complex client problems through creative solutions
• Commitment to excellent attendance with proven reliability and can adhere to the agreed upon work schedule
• Dependable team-player attitude with an understanding that calls must be handled immediately, including weekends and holidays
• Communicates effectively and confidently with all clients to make their financial lives better
• Ability to engage with clients while navigating multiple screens – begin a conversation, anticipate what questions a client will have, actively share information using plain language, build rapport, and handle objections
• Comfortable receiving ongoing performance feedback and coaching
• Ability to learn and adapt to new information and technology platforms
• Minimum of an intermediate level of proficiency with computers and current technology

Desired Qualifications:

• Experience in a call center or a financial/banking center
• Fraud Detection and Prevention
• Credit Risk

Skills:

• Customer and Client Focus
• Data Collection and Entry
• Due Diligence
• Issue Management
• Oral Communications
• Active Listening
• Adaptability
• Attention to Detail
• Policies, Procedures & Guidelines
• Written Communications
• Business Acumen
• Collaboration
• Critical Thinking

Shift:

1st shift (United States of America)

Hours Per Week:

40

Pay Transparency details

US - NJ - Pennington - 1400 American Blvd - Princeton Place At Hopewell Bldg. 4 (NJ2140)

Pay and benefits information

Pay range

$24.04 - $31.25 hourly pay, offers to be determined based on experience, education and skill set.

Predictable pay

This role is compensated with a base salary and is not incentive eligible.

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.