Fraud Analytics and Innovation Senior Analyst (Vendor Onboarding and Innovation)

Bank of America • Charlotte, NC

85d • Remote

About The Position

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! This job is responsible for performing more complex analysis and modeling to minimize fraud 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/procedural changes within segmentation structures to produce optimal results. Job expectations include evaluating data to assess potential fraud risk and creating mitigation strategies. We are seeking a detail-oriented analyst that will support our Vendor Innovation Projects to join our Fraud Strategic Enablement (FSE) team at Bank of America. This role will support the team that leads the evaluation, onboarding, and ongoing management of new and existing third-party vendors specializing in fraud detection and prevention solutions. The ideal candidate will leverage strong project management skills to help coordinate and assess vendor capabilities, performance, pricing, market positioning, while collaborating with SMEs on due diligence, internal approvals, and enterprise wide communication. This position plays a critical role in the firms growth while ensuring compliance in a fast-paced environment. Our team, Fraud Strategic Enablement, is tasked with driving the strategy, design, and execution of the next-generation of fraud controls to protect our clients. We are investing heavily in new capabilities and have built a strong team of seasoned fraud leaders and industry experts to lead the programs. We are looking for a process oriented team member who can coordinate and support project teams that lead the analysis to optimize the deployment and efficacy of new and emerging fraud technologies.

Requirements

• 3 years experience in vendor management, third-party risk, fraud analysis, or procurement, preferably in banking or financial services.
• Excellent communication and presentation skills.
• Proficiency in dashboard and project reporting tools.
• Experience managing competing priorities.
• Ability to understand the information needs of business users and senior leaders and build to those specifications with minimal direction.
• Knowledge of vendor due diligence frameworks, bank regulatory compliance, and/or vendor contract principles.
• Excellent communication and interpersonal skills for socializing information across teams; strong organizational abilities to manage multiple vendor processes simultaneously.
• Ability to work independently while collaborating in a team-oriented environment.

Nice To Haves

• 3 - 5 years experience in vendor management, third-party risk, fraud analysis, or procurement, preferably in banking or financial services.
• Experience in major banks or financial institutions with a focus on fraud prevention.
• Familiarity with agile/lean methodologies for process improvements.
• Background in vendor market research and/or competitive intelligence in the FinTech/Bank Vendor space.
• Knowledge of multiple bank products and/or channels (e.g. Credit, Debit, Digital, Call Center, etc.).
• Advanced Excel Skills for financial models and trend analysis.
• SQL and/or SAS coding ability.
• B.A./B.S in Business, Finance, Risk Management, Information Technology, Engineering or related field.

Responsibilities

• Develop detailed checklist to facilitate the review and onboarding of fraud vendors including the following: Stakeholder requirements / matrix, Project Plans, Requirements documentation, Vendor debriefs and assessment.
• Document and navigate internal governance reviews for vendor approvals (including proof of concepts), collaborating with legal, compliance, procurement, and IT teams to secure necessary endorsements and documentation.
• Help conduct fraud-specific analytical assessments of vendors, analyzing their tools, efficacy in detecting fraudulent activities, and alignment with Bank of America standards.
• Partner with SMEs and leadership to continuously monitor and recommend new and emerging fraud technologies and assess their potential impact to Bank of America.
• Support the end-to-end vendor evaluation and onboarding process, including initial screening, RFP/RFI coordination, and contract negotiation support.
• Research and analyze top vendors in the fraud prevention space, identifying emerging trends, strengths, weaknesses, and opportunities through market intelligence.
• Develop and maintain dashboards for tracking vendor evaluations and onboarding including performance metrics, onboarding timelines, and key risk indicators using tools like Tableau, Power BI, or Excel.
• Evaluate vendor pricing models, perform cost-benefit analysis, and benchmark against industry standards to ensure competitive and value-driven selections.
• Socialize vendor status updates, preparing status reports, presentations, and communications for key Client Protection and Bank of America stakeholders in fraud, risk, and executive leadership.
• Monitor ongoing vendor relationships, flagging issues related to performance, fraud incidents, or contractual obligations, and recommending remediation strategies.

What This Job Offers

• Job Type: Full-time
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree