Fraud Analytics and Innovation Senior 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 Description:
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.

LOB Specific Information:

This role is responsible for performing advanced analytics, modeling, and strategy development to minimize fraud loss exposure, including risks associated with Reward Points redemption fraud, while mitigating impacts to the customer experience. Key responsibilities include leveraging tools such as Excel, SAS, SQL, Tableau, and other relational databases to support fraud strategies, evaluate operational performance, ensure business objectives are met, and recommend policy and procedural enhancements. The role requires analyzing complex data sets to identify fraud risks, assess emerging threats, and develop effective mitigation strategies that drive optimal business outcomes.

 

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. 

Other responsibilities include:

• Creation, implementation, and maintenance of rules and capabilities designed to detect Reward Point Redemption fraud
• Deriving actionable insights from complex data
• Build and develop logic for strategy
• Utilizes portfolio trends to propose strategy and policy changes within segmentation structure to produce optimal results.
• Working closely with internal and external partners to understand limitations and opportunities for improvement
• 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
  

Required Qualifications:

• 2+ years of analytical experience (Payment card /Retail Bank background preferred)
• Proficient in SAS/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:

• Bachelor’s degree in mathematics, statistics, operations research, finance, business, or a related quantitative field
• 3+ years of fraud experience
• Basic knowledge of first- and third-party fraud, including claims-to-charge-off timing and chargeback recovery rights
• Fraud management
• Monitoring, surveillance, and testing
• Advanced analytical skills, including using data and metrics to identify root causes
• Business analytics
• Data quality
• Problem-solving and critical thinking
• Innovation and research
• Written/Verbal communication
• Collaboration 

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

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.