Fraud Analytics and Innovation Senior Analyst - Digital Fraud Strategies

Bank of America · Boston, MA · 5 days ago

Business DevelopmentFull-time

About the role

This job is responsible for performing more complex analysis and modeling to minimize fraud loss exposure and negative impacts to the customer experience. This role will support Emerging Risk Fraud Strategies primarily in Digital products; Zelle/Wires/BillPay. Responsible for creating fraud strategies and ensuring proper risk controls are deployed adhering to best practices. Team member will provide recommendations on mitigation efforts, ensuring monitors are in place, self-create initiatives as needed.

Responsibilities

Recommends ways to help the business achieve desired outcomes and make informed business decisions using data analysis outputs
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
Leads coordination of the production of product performance reports and updates for senior management
Analyze complex data to provide insights into incoming and loss trends or identify potential problems
Develop adhoc reporting
Identify process improvements and efficiencies via data analysis
Deliver accurate metrics related to fraud and claim activity
Validate the integrity and quality of data required for performing analysis
Partner with claims, policy, strategy, and product teams to deliver data insights and analysis that inform critical decisions and help achieve goals
Conducting defect reviews of 3rd party fraud loss cases to identify any gaps in Fraud strategy and/or procedural adjustments
Strategy performance tracking and rule optimization on recurring basis
Developing and validating fraud variables utilized in strategies
Project management: providing fraud requirements, testing, and development of strategies (includes network mandates, Product team support, and internal projects)

Required Qualifications

3+ years of fraud experience and/or 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

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.)
Proven strong analytical and communication skills

Skills