Fraud Analytics and Innovation Senior Leader at Ghr

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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

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 managing a group of team leaders and employees who develop strategies and drive analytics to understand portfolio risk, increase profitability, and optimize operational performance. Key responsibilities include setting strategic priorities for the team, identifying trends, and leading efforts to maximize risk versus return for the business unit. Job expectations include using data and analytics to solve complex problems, coaching and developing employees, and partnering across technology, product, and risk leadership to drive performance.

The Emerging Risk Fraud Strategies is looking for an experienced analytical leader to join our team as a strategies lead for our digital and money movement portfolios. This is an exciting opportunity given the constantly evolving nature of digital adoption and attacks in marketplace as well as in money movement.

As a Fraud Strategy Manager with the Client Protection organization, you will capitalize on technical abilities and strategic thinking to solve business challenges and seek opportunities for improvement.  You will join a team of fraud professionals who are dedicated to stopping criminals and protecting customers.  In the role you will spend time analyzing difficult problems as we try to stay one step ahead of the fraudsters.   You will develop complex defenses designed to minimize the impact to good customers while maximizing fraud loss avoidance.  You will work across multiple partner organizations and represent our team as a subject matter expert.  We are looking for someone with strong communication skills, sound business judgement, results oriented with a track record of thriving in a fast-paced entrepreneurial environment. In this role, you will be expected to look through significant quantities of data to identify and stop fraud. Responsibilities will include fraud loss plan ownership, strategy development, building out a controls culture, and evaluating various internally developed and vendor provided machine learning tools to most effectively maximize client experience while managing fraud.

LOB Responsibilities:

• Establishes department-wide strategies and oversees portfolio trend analysis, forecasting, and risk/control performance

• Leads innovation by identifying and championing large scale initiatives that improve the risk management, profitability, and control oversight of risks for their business unit(s)

• Identifies business trends based on economic and portfolio conditions and communicates findings to senior management

• Coaches employees on best practices for structuring complex problems, performing analysis, and communicating the results and implications of their work

• Builds and maintains strategic relationships with peers and counterparts across product, technology, and business control functions

• Development of new fraud strategies using statistical and analytical techniques and other quantitative methods. Goal will be to identify and mitigate new and emerging fraud threats in money movement tools channels.

• Identifying new sources of data (internal or vendor-provided) that can enrich our existing fraud detection processes, be added to our decision systems, and allow for new detection strategies to be developed. Will require close coordination with partners in Fraud Technology. Be an SME for all data related questions.

• Provide recommendations on mitigation efforts, ensuring monitors are in place, and will self-create initiatives as needed.

• Analyze data and conduct investigations to identify patterns, trends, and anomalies indicative of potential fraud

• Monitor Strategy performance and Optimization of existing detection strategies to determine areas where rules can be adjusted to decline fewer false positives and improve the ROI and overall performance of our fraud strategies.

• Collaborate with cross-functional teams to integrate fraud detection measures into existing systems and processes.

• Collaborate with various internal and external network partners and industry peers on multiple aspects encompassing, network guidelines, best practices, trends countermeasures, collective actions etc.

• Development of both ad-hoc and more standardized reporting (MIS)

• Be an Automation champion to streamline repetitive tasks across the team.

• Perform Deep dive analytics to help drive strategies. 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.

• Build a strong and effective controls structure to ensure comprehensive monitoring and ensuring proper risk controls are deployed, while adhering to best practices.

• Continue to elevate strategy operations excellence

• Stay abreast of industry trends, emerging threats, and technological advancements to continuously enhance fraud prevention methodologies.

• Lead, conceptualize and execute varied analytics endeavors aimed at identifying new trends, gaps , vulnerabilities and potential risk exposure areas.

• Drive the development of new models designed to detect fraud activity.

• Provide oversight on defect reviews of 3rd party/scam loss cases to identify any gaps in Fraud strategy and/or procedural adjustments

Required Qualifications:

• 5+ years of experience in analysis

• 5+ years of experience in SAS or SQL querying.

• 3+ years of fraud experience

• The candidate must be at an advanced to expert level in SAS, SQL and Autosys.

• Familiarity with other programming languages such as Python, R or Java.

• Ability to work in a fast-paced, dynamic environment is critical. Must have exceptional organizational, project management and controls environment skills.

• Outstanding critical thinking, and analytical skills

• Proven communication skills in describing complex issues to inform strategic insights and decision

• Ability to present, lead, support, and influence senior management and business stakeholders

• Innovation mindset with the ability to challenge the status quo

• Leadership and management skills, including development of teams and individuals

Desired Qualifications:

• An advanced degree is preferred, but lesser levels of education with the appropriate skills and experience will be considered as well.

• Knowledge of data extraction tools such as Hive or HUE will be useful.

• Fraud decision engine management experience highly preferred.

• Prior team management experience highly preferred.

• Strong preference working in financial services, particularly fraud or cyber security.

Skills:

• Analytical Thinking

• Business Analytics

• Business Process Analysis

• Data Mining

• Fraud Management

• Business Case Analysis

• Critical Thinking

• Influence

• Relationship Building

• Strategy Planning and Development

• Issue Management

• Leadership Development

• Process Performance Management

• Recruiting

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

For internal employees; participation in a work from home posture does not make you ineligible to post

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), US - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100)

Pay and benefits information

Pay range

$180,000.00 - $246,000.00 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. Apply Now