Fraud Analytics and Innovation Lead Analyst

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 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, independently driving strategic improvements, large-scale projects, and initiatives. Job expectations include working with business counterparts within the line of business and partner organizations (e.g.,. Risk, Product, etc.).

This job is responsible for leading the development, implementation, and optimization of fraud strategies designed to minimize fraud loss exposure and reduce impacts to the customer experience across payment card tokenization channels. A fraud strategy professional who combines strong data analysis skills with strong analysis skills and can turn fraud trends into practical strategies that reduce losses while protecting the customer experience. As payment card tokenization continues to expand across digital wallets, card-on-file merchants, and emerging payment channels, fraudsters continue to evolve their tactics targeting token provisioning, authentication, and token-based transactions. The selected candidate will work closely with Fraud Strategy, Digital, Operations, and Payment Network partners to identify opportunities to strengthen controls, reduce fraud losses, and improve customer experience.

Key responsibilities include utilizing a variety of systems, such as SQL, SAS, Tableau, and other relational databases, to analyze fraud trends, evaluate strategy performance, identify emerging risks, and develop mitigation strategies. Job responsibilities include fraud strategy creation and recommending policy & procedural enhancements.

Responsibilities:

• Lead the creation, implementation, and maintenance of fraud strategies and controls designed to detect and prevent tokenization-related fraud.

• Analyze fraud trends, customer behavior, transaction activity, and token lifecycle data to identify emerging threats and opportunities.

• Conduct root cause analysis of fraud losses and control breakdowns.

• Develop and implement fraud mitigation strategies.

• Monitor strategy performance and recommend enhancements to improve fraud detection and reduce customer friction.

• Evaluate data to assess fraud risk and develop actionable recommendations.

• Recommend policy and procedural changes to optimize fraud performance.

Required Qualifications:

• 3+ years of strategy creation experience and/or fraud experience.

• 3+ years of SQL and/or SAS coding experience.

• Experience analyzing large datasets and identifying actionable insights.

• Ability to identify opportunities for improvement and work independently with minimal direction.

• Ability to work in a fast-paced, dynamic environment.

• Strong analytical, problem-solving, and communication skills.

Desired Qualifications:

• B.A./B.S. in Computer Science, Data Science, Statistics, Mathematics, Engineering, Finance, or related field.

• Advanced degree in a quantitative discipline.

• Fraud strategy experience supporting payment cards, digital payments, tokenization, authentication, or account takeover.

• Understanding of digital wallet ecosystems including device wallets and network tokenization.

• Familiarity with data visualization tools, preferably Tableau.

• Proficiency coding in SQL, SAS, and/or Python.

• Experience with Hadoop, Hive, Impala, or similar big data environments.

• Understanding of statistical methods and performance measurement.

• Excellent communication and presentation skills.

• Experience presenting recommendations and results to senior leaders.

Skills:

• Business Intelligence

• Data Quality Management

• Fraud Management

• Monitoring, Surveillance, and Testing

• Fraud Strategy Development

• Collaboration

• Data Visualization

• Oral Communications

• Problem Solving

• Written Communications

• Analytical Thinking

• Critical Thinking

• Data and Trend Analysis

• Innovative Thinking

• Research

• Stakeholder Management

• Risk Assessment

• Digital Payments Knowledge

• Tokenization Fraud Strategy

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

$148,900.00 - $167,200.00 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.