Consumer Product Strategy Manager II

4 weeks ago

Boston, United States Bank of America Full time

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 leading a group of team leaders and employees who develop strategies and drive analytics to understand portfolio risk, increase profitability, and optimize operational performance. Key responsibilities include setting strategic priorities for the team, identifying trends, and leading efforts to maximize risk versus return for the business unit. Job expectations include using data and analytics to solve complex problems, coaching employees, and partnering across technology, product, and risk leadership to drive performance.

Client Protection is looking for an experienced analytical leader to manage the deposit fraud strategies team.  In this role, you will be responsible for fraud prevention strategies to defend the bank against first party fraud. Responsibilities will include, working across multiple lines of business; partnering with product, technology, operations, vendors, and others; responsibility for the overall first party fraud loss line; and evaluating various internally developed and vendor provided machine learning tools to maximize client experience while managing fraud most effectively.    

Responsibilities:

• Establishes department-wide strategies and oversees portfolio trend analysis, forecasting, and risk/control performance.
• Leads innovation by identifying and championing large scale initiatives that improve the risk management, profitability, and control oversight of risks for the business unit.
• Identifies business trends based on economic and portfolio conditions and communicates findings to senior management.
• Coaches employees on best practices for structuring complex problems, performing analysis, and communicating the results and implications of their work.
• Builds and maintains strategic relationships with peers and counterparts across product, technology, and business control functions.

• Develop and implement robust first party detection strategies to safeguard the organization against financial fraud.

• Lead a team of fraud analysts in the identification, investigation, and mitigation of fraud activity.

•Collaborate with cross-functional teams to integrate fraud detection measures into existing systems and processes.

• Stay abreast of industry trends, emerging threats, and technological advancements to continuously enhance fraud prevention methodologies.

•Analyze data and conduct investigations to identify patterns, trends, and anomalies indicative of potential fraud.

• Identifying new sources of data (internal or vendor-provided) that can enrich our existing detection processes, be added to our decision systems, and allow for new detection strategies to be developed.  Will require close coordination with partners in Fraud Technology.

• Drive the development of new models designed to detect fraud activity.

Managerial Responsibilities:
This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

  • Diversity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company D&I goals.
  • Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.
  • Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.
  • Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.
  • People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
  • Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.
  • Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.
  • Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.

Required Skills:

•  At least 8 year of experience in analysis.

• 5+ years of experience managing analytical fraud teams.

• 5+ years of experience in SAS or SQL querying.

• The candidate should be familiar with data querying techniques in SAS and SQL.  Familiarity with other programming languages such as Python, R or Java.  Knowledge of data extraction tools such as Hive or HUE will be useful.

• Ability to work in a fast-paced, dynamic environment is critical.  Must have exceptional organizational, project management and controls environment skills.

• Outstanding critical thinking, and analytical skills.

• Proven communication skills in describing complex issues to inform strategic insights and decision.

• Ability to present, lead, support, and influence senior management and business stakeholders.

• Innovation mindset with the ability to challenge the status quo.

• Leadership and management skills, including development of teams and individuals.

Desired Skills:

• Fraud decision engine management experience highly preferred.

• Strong preference prior experience working in financial services, particularly fraud or cyber security.

Skills:

  • Analytical Thinking
  • Business Analytics
  • Data Mining
  • Fraud Management
  • Business Process Analysis
  • Critical Thinking
  • Influence
  • Relationship Building
  • Strategy Planning and Development
  • Business Case Analysis
  • Issue Management
  • Leadership Development
  • Process Performance Measurement
  • Recruiting

Shift:

1st shift (United States of America)

Hours Per Week:

40

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