Fraud Analytics and Innovation Senior Analyst

Bank of America • Fort Worth, TX

1d • $100,000 - $133,600 • Onsite

About The Position

At Bank of America, the Fraud Analytics and Innovation Senior Analyst performs advanced analysis, modeling, and strategy development to minimize fraud loss exposure while mitigating negative effects on the customer experience. The role focuses on risks associated with Reward Points redemption fraud and supports fraud strategies by evaluating operational performance, business objectives, and complex data sets to identify fraud risks and emerging threats. It develops mitigation strategies and recommends policy and procedural enhancements that support optimal business outcomes.

The analyst uses Excel, SAS, SQL, Tableau, and other relational databases to derive actionable insights, build strategy logic, and create, implement, and maintain rules and capabilities for detecting Reward Point Redemption fraud. The position works with internal and external partners, uses portfolio trends and analytical outputs to inform business decisions, and helps ensure strategies meet their goals. The role is based at Bank of America Tower Chicago in Chicago, Illinois, with a stated first shift and a 40-hour workweek. Bank of America describes its culture as in-office, with flexibility based on role responsibilities and business needs.

Requirements

• At least 2 years of analytical experience; payment card or retail banking experience is preferred.
• Proficiency in SAS, SQL, and Excel.
• Strong quantitative, critical-thinking, and analytical skills.
• Ability to communicate and interact professionally with executive-level personnel across the business.
• Ability to work independently and as part of a virtual team.
• Innovative mindset and ability to challenge the status quo.
• Ability to proactively identify, analyze, and improve existing processes for optimization and meet deadlines.

Nice To Haves

• Bachelor’s degree in mathematics, statistics, operations research, finance, business, or a related quantitative field.
• At least 3 years of fraud experience.
• Basic knowledge of first- and third-party fraud, including claims-to-charge-off timing and chargeback recovery rights.
• Fraud management knowledge.
• Monitoring, surveillance, and testing knowledge.
• Advanced analytical skills, including using data and metrics to identify root causes.
• Business analytics knowledge.
• Data quality knowledge.
• Problem-solving and critical-thinking skills.
• Innovation and research skills.
• Written and verbal communication skills.
• Collaboration skills.

Responsibilities

• Perform complex analysis of financial models, market data, financial data, and portfolio trends to understand product performance and improve portfolio risk, profitability, forecasting, and operational performance.
• Create, implement, and maintain rules and capabilities designed to detect Reward Point Redemption fraud.
• Derive actionable insights from complex data.
• Build and develop logic for strategy.
• Use portfolio trends to propose strategy and policy changes within segmentation structures.
• Work with internal and external partners to understand limitations and opportunities for improvement.
• Use Excel, SAS, SQL, Tableau, and other relational databases to provide analytical support for strategies and ensure goals are met.
• Evaluate data to assess potential fraud risk and create mitigation strategies.
• Recommend policy and procedural changes within segmentation structures.
• Recommend ways to help the business achieve desired outcomes and make informed decisions using data analysis outputs.

Benefits

• Industry-leading benefits.
• Access to paid time off.
• Resources and support for employees.
• Eligible to participate in the annual discretionary incentive plan, with awards 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