Fraud Strategies Analyst- Consumer Product Strategic Analyst III

Bank Of America Corporation Charlotte , NC 28201

Posted 2 months ago

Job Description:

The Emerging Fraud Strategies Group within the Client Protection Organization is looking for experienced analytical professionals to join our growing application fraud team.

We are looking for smart, energetic candidates with strong technical backgrounds, a great sense of urgency and an excellent approach to teamwork. We do not require you to have a background in fraud, and while this is advantageous, we can teach you what you need to know as long as you have the right technical skills.

Roles will include some of the following work, depending on the specific job/team:

  • Development of new fraud strategies using statistical and analytical techniques with the goal of being able to identify and mitigate new and emerging fraud threats with an eye toward maximum fraud prevention and reducing false positives and negative client experience

  • Build and optimize data-driven, analytically based fraud rule strategies which could encompass application fraud, digital money movement products, device authentication strategy, etc.

  • Successful candidate will work across diverse channels, products, and fraud types to build strategies for optimal authentication that balances effectiveness, coverage, customer experience, and resource constraints.

  • Partnering with technology and business partners to implement new technology and new products, ensuring fraud risks are controlled

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

  • 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

  • Analysis of our fraud models to assess performance and effectiveness and making recommendations to continue using or redevelop these models

  • Data science type work including advanced strategy development, machine learning, and other quantitative work

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

If you think you have what takes, and want to join a fun, dynamic group that is solving critical problems, please apply!

Enterprise Role Overview

Responsible for performing more complex analysis and modeling for multiple products with the goal of maximizing profits and asset growth and minimizing risk and operating losses and/or other financial and marketing exposures. Develops complex program models to extract data and uses multiple databases to acquire statistical and financial data. Utilizes portfolio trends to propose policy/procedural changes within segmentation structure to produce optimal results. Excels at risk/reward trade off. Build relationships with external agencies. Participates in the rollout of company-wide pilot programs developed as a result of programmed models. Duties primarily include the regular use of discretion, independent judgment, the ability to communicate with multiple levels of management and the utilization of core leadership behaviors. SAS and/or MicroStrategy experience preferred; 2-5 years experience preferred.

Required Skills & Experience

  • Minimum of 2 years of analytical experience, with emphasis on strategy building, modeling, authentication controls or other quantitative work

  • 2+ years demonstrating proficiency with SAS and SQL

  • Superior communication skills, and comfort presenting work to team members as well as senior executives

  • Great organizational skills and project management skills

Desired Skills & Experience

  • Bachelor's degree preferred

  • Inquisitive, curious mindset able to work autonomously with limited direction

  • Experience in financial services is very helpful, with preference to fraud, credit, cyber security, decision management, fraud and/or authentication controls or marketing analytics

  • Familiarity with predictive modeling tools such as SAS Enterprise Miner or Knowledge Studio

  • Strong PowerPoint skills to create clear presentations

  • Adaptability and ability to thrive in a dynamic environment

  • Intellectual curiosity and strong urge to figure out the "whys" of a problem and come up with creative solutions

  • Ability to think like a criminal and proactively find gaps in our fraud strategies and controls


1st shift (United States of America)

Hours Per Week:


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Bank Of America Corporation