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!
Enterprise Job Description:
This job is responsible for performing more complex analysis and modeling to minimize 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 and procedural changes within segmentation structures to produce optimal results. Job expectations include evaluating data to assess potential fraud risk and create mitigation strategies.
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
LOB Specific Information:
Position is responsible for performing more complex analysis 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. Extracts 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.
This role is a Fraud Forecasting & Reporting Analyst who will lead efforts to develop/build loss forecasts, provide loss performance updates and commentary for loss packages, outline and communicate the drivers of the forecasts, and partner with key stakeholders to understand recent trends, initiatives, and issues that impact the forecasts.
Responsibilities:
▪ Provide short and long term loss forecasting in addition to analysis on both historical and projected performance
▪ Responsible for developing, evaluating, and recommending new methods to improve forecasting accuracy
▪ Develop fraud forecast models leveraging inputs and drivers
▪ Ability to interpret financial results extracting trends to provide valuable insights to the business and Senior Management
▪ Partner /Collaborate with finance and key stakeholders on the communication of forecast drivers, impacts, loss performance, and reconciliation
▪ Prepare, distribute, and consolidate weekly, monthly, quarterly fraud loss packages
Required Qualifications:
- 2+ years of fraud experience and/or 2+ years of analytical /financial experience
- Strong financial knowledge and understanding of fraud loss drivers
- Outstanding quantitative, critical thinking, analytical, and communication skills
- Confidence with finance and accounting concepts
- Communicate effectively with others, demonstrating leadership and strong interpersonal skills
- Ability to present, lead, support, and influence senior management and business stakeholders
- Innovation mindset with the ability to challenge the status quo
- Ability to prioritize and handle multiple projects at the same time
- Ability to proactively identify, analyze, and improve upon existing processes for optimization and to meet deadlines
- Advanced analytical and quantitative skills with demonstrated ability in using data and metrics to identify root causes
- Strong Excel/Reporting experience
Desired Qualifications:
- Bachelor's degree in Finance, Accounting, Economics (or related discipline)
- MBA or graduate level work in finance, accounting, and/or business management is preferred
- Payment card /Retail Bank Finance background preferred)
- Basic understanding of 1st and 3rd party fraud (claims to charge-off timing, chargeback recovery rights, etc.)
- Strong knowledge of programming language (i.e. SAS or SQL) and experience with e-Ledger and Enterprise GL tools (EPM)
- Advanced analytical and quantitative skills with demonstrated ability in using data and metrics to identify root causes
- Experience developing/coaching associates and leading teams
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
$82,100.00 - $125,600.00 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.
