Consumer Product Strategy Analyst III

Company: Disability Solutions
Location: Newark
Posted on: November 14, 2024

Job Description:

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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!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.As the digital landscape evolves, so too do the methods employed by criminals to perpetrate financial fraud. Money mules, individuals who unknowingly or knowingly facilitate illicit financial transactions, pose a significant threat to financial institutions. This role requires a strategic thinker with the ability to develop a deep understanding of money mule tactics and the ability to create innovative solutions to detect and prevent such activities.Responsibilities: - Strategy Development: Develop and implement comprehensive strategies to identify, prevent, and mitigate money mule activities. Stay abreast of emerging trends and tactics employed by money mules to ensure the effectiveness of detection strategies. - Data Analysis: Leverage data analytics tools and techniques to analyze large datasets, identify patterns, and uncover indicators of money mule activity. Develop predictive models and scoring mechanisms to prioritize potential cases. - Risk Assessment: Conduct risk assessments to identify vulnerabilities in the organization's systems and processes that may be exploited by money mules. Develop mitigation strategies to address these risks. - Collaboration: Collaborate with various departments, including compliance, fraud investigations, and operations, to ensure effective coordination and information sharing regarding money mule activities. - Reporting: Prepare regular reports on money mule detection efforts, including key performance indicators, trends, and recommendations for improvement.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 managementSkills:
  • 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
  • ResearchThis position is not eligible for sponsorship.It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.Required Qualifications:- 2+ years of SAS/SQL coding ability- Intermediate Excel and PowerPoint capability- Intermediate data science skills and working understanding of statistics and accuracy metrics- Excellent communication and presentation skills- Ability to interact effectively and build relationships with business partners at all levels- Proficiency in framing problems and developing impactful solutions with minimal oversight- Experience in managing competing prioritiesDesired Qualifications:- Fraud and/or Claims background with focus on Account Takeover a plus- Understanding of advanced data analytics and modeling techniques- Functional knowledge of multiple products and/or channels (e.g. Credit, Debit, Digital, Call Center, etc.)- Master's degree in a relevant field. - Certification in fraud examination or risk management. - Experience in the financial services industry.- Knowledge of anti-money laundering regulations.- Familiarity with developing Tableau dashboards- Experience presenting to senior leaders- Experience with hypothesis testing and/or feature prioritization.Shift:1st shift (United States of America)Hours Per Week: 40Pay Transparency detailsUS - NY - New York - 1114 Avenue Of The Americas - Grace (NY1544)Pay and benefits informationPay range$79,700.00 - $118,900.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.

Keywords: Disability Solutions, Newark , Consumer Product Strategy Analyst III, Professions , Newark, Delaware