Fraud Analytics and Innovation Lead Analyst

Bank of America • Newark, NJ

8d • Onsite

About The Position

At Bank of America, this role supports the company’s purpose of helping make financial lives better through responsible growth, collaboration, and an inclusive culture. The company describes an in-office culture that supports collaboration, engagement, and career development, with flexibility based on role responsibilities and business needs.

The Fraud Analytics and Innovation Lead Analyst performs complex analysis to improve portfolio risk, profitability, forecasting, and operational performance. The role leads the development, implementation, and optimization of fraud strategies for payment card tokenization channels, aiming to minimize fraud losses while protecting customer experience. It analyzes trends involving digital wallets, card-on-file merchants, token provisioning, authentication, and token-based transactions, and works with Fraud Strategy, Digital, Operations, Payment Network, and other business partners.

The analyst uses SQL, SAS, Tableau, and relational databases to analyze fraud trends, assess strategy performance, identify emerging risks, and develop mitigation strategies. The position also creates fraud strategies and recommends policy and procedural enhancements. It is a first-shift role based in Chicago, Illinois, with a stated schedule of 40 hours per week. The position is eligible for an annual discretionary incentive plan and benefits, including paid time off.

Requirements

• At least 3 years of strategy creation experience and/or fraud experience.
• At least 3 years of SQL and/or SAS coding experience.
• Experience analyzing large datasets and identifying actionable insights.
• Ability to identify opportunities for improvement and work independently with minimal direction.
• Ability to work in a fast-paced, dynamic environment.
• Strong analytical, problem-solving, and communication skills.

Nice To Haves

• B.A./B.S. in Computer Science, Data Science, Statistics, Mathematics, Engineering, Finance, or a related field.
• Advanced degree in a quantitative discipline.
• Fraud strategy experience supporting payment cards, digital payments, tokenization, authentication, or account takeover.
• Understanding of digital wallet ecosystems, including device wallets and network tokenization.
• Familiarity with data visualization tools, preferably Tableau.
• Proficiency coding in SQL, SAS, and/or Python.
• Experience with Hadoop, Hive, Impala, or similar big data environments.
• Understanding of statistical methods and performance measurement.
• Excellent communication and presentation skills.
• Experience presenting recommendations and results to senior leaders.

Responsibilities

• Lead the creation, implementation, and maintenance of fraud strategies and controls designed to detect and prevent tokenization-related fraud.
• Analyze fraud trends, customer behavior, transaction activity, and token lifecycle data to identify emerging threats and opportunities.
• Conduct root cause analysis of fraud losses and control breakdowns.
• Develop and implement fraud mitigation strategies.
• Monitor strategy performance and recommend enhancements to improve fraud detection and reduce customer friction.
• Evaluate data to assess fraud risk and develop actionable recommendations.
• Recommend policy and procedural changes to optimize fraud performance.
• Use SQL, SAS, Tableau, and other relational databases to analyze fraud trends, evaluate strategy performance, identify emerging risks, and develop mitigation strategies.
• Work with Fraud Strategy, Digital, Operations, Payment Network, and other business partners.

Benefits

• Benefits eligibility.
• Access to paid time off.
• Annual discretionary incentive plan eligibility; awards are based on individual performance and behaviors, line-of-business or group performance and contributions, and overall company success.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: No Education Listed