Credit Risk Strategy Analyst III – Consumer Vehicle Lending

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 

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. Manage and perform strategic analyses to improve portfolio risk, profitability, origination and performance analysis, and operational performance for the Consumer Vehicle Lending channel, including Core and Flow channels. Responsibilities may include reviewing variances to projections or forecasts for credit losses and loan balance liquidation at the vintage level. 

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.

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

• Conducting analyses to develop underwriting/credit policies and strategies to optimize credit decisions and profitable growth while controlling credit risk

• Present ideas, recommendations and project results to senior leadership team and business partners

• Responsible for UCRA and Intake form development, includes writing requirements, reviewing system design specifications, approving test results and actively participating in the change process from start to end.

• Work with Technology and Operations to design and execute the strategy implementation

• Monitor strategy performance for enhancements, read test/control results, and identify opportunities to continuously optimize underwriting/credit criteria

• Responsible for documentation development, including writing system requirements

• Actively participating in design meetings and guiding credit strategy changes which may include being a part of negotiations for the FLOW channel. 

• Support implementation, testing and training of Credit Strategy changes for Consumer Products.

• Participate and possibly provide data or analytical input for audits, credit review or government exams.

 Required Skills:

• 3+ Years in a Financial Business Setting, Risk Management or Risk/Marketing Analytics type functional role.

• Expertise in MS Office for excel and PowerPoint.

• Experience with a programming language preferably SAS, Python, SQL, Tableau

• Ability to develop quantitative output using appropriate tools (ex. SAS, FICO Analyzer, Knowledge Seeker) against numerous large data-sets for identifying and optimizing key business metrics of credit default risk, prepayment risk or collateral recovery risk with a proven ability to interpret results and communicate findings candidly and crisply to senior leadership.

• Ability to independently manage and defend quantitative analytics with sound documentation of assumptions, limitations, conclusions and recommendations.

• Ability to independently drive strategic improvements while adhering to and successfully navigating established governance routines.

• Ability to effectively analyze origination concentrations and trends, optimize profit of new application volume within expected risk tolerances, and proactively identify opportunities to support existing or new business strategies.

• Ability to translate analytics into well-written business requirements, complete a Universal Change Risk Assessment (UCRA), and usher that change through system implementation including UAT support and procedures development.

• Proactive with intellectual curiosity towards the business and data trends. Willing to take the next step or ability to predict the next step with little direction and oversight.

• Strong working knowledge of the process and tools used for development, validation, implementation and documentation of scoring toolkits

• Passionate self-starter who is highly motivated to help the organization achieve its goals and thrives in fast-paced and highly dynamic environment

• Must be decisive, a team-player, client focused, creative, strategic, and be a thoughtful risk-taker

• Excellent verbal and written communication skills, particularly technical writing and organizational skills

• A passion for learning and using data to derive trends, detect risks, and execute strategy projects

• Demonstrates a strong understanding of credit risk strategies, financial drivers, and credit operations with proven problem-solving skills

• Effective project management and organizational skills; ability to collaborate, manage, and expand relationships across the organization and with all levels of management

Desired Skills:

• Bachelor's degree and/or Master's degree in a quantitative discipline is preferred.

• A solid working knowledge of statistical and/or financial analyses and the proven ability to apply that knowledge to business data and strategies.

• An understanding of general financial concepts (IRR, ROE, ROA, RAS, RANIM, RAM, etc.) and an understanding of credit/collateral based concepts such as FICO credit scores, LTV%, accept/reject, term, DTI/PTI.

• Logically solve problems in an expedient manner.

• Proven history of using good planning and process management skills, able to run several analytical projects independently at the same time and prioritize within given guidelines.

• Very strong written and verbal communication skills.  Strong negotiation skills.

• Ability to manage across multiple functional areas as well the ability to influence others at all levels of the organization and external partners.

• Positive attitude towards change and ability to think out of the box to solve business questions.

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:

Hours Per Week: