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.
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Job Summary:
Conceptualize, design and implement fraud and/or claims prevention strategies; understand and quantify risks associated with new or proposed process or procedural changes, new products or programs, or changes in business conditions. Document and implement industry best practices; lead cross-functional initiatives within the fraud and/or claims Space. Work with internal clients to understand, quantify and balance the relationship between revenue, cost and losses (risk vs. reward) and establish communication forums with internal clients and business partners.
Job Responsibilities:
The Digital Fraud Policy Sr. Strategist will support efforts to identify fraud prevention opportunities and solutions. The candidate will be responsible for developing and documenting fraud policies across Digital products. Selected candidate will also collaborate and partner with key stakeholders in product, strategy, servicing, detection, authentication, operations, and claims.
The responsibilities include:
- Review and understand the latest fraud trends and recommend solutions to mitigate losses
- Evaluate incoming claims and high dollar defects to identify gaps/opportunities
- Summarize and complete write ups on high dollar defect accounts
- Document and evaluate existing/new fraud policies
- Understand internal systems and processes to understand how they interact in order to identify opportunities to reduce fraud losses
- Monitor reports to identify risks/trends
- Support fraud projects and initiatives
- Lead the partnership with product teams to drive strategic discussions around business performance, initiatives, and emerging threats
- Champion AND challenge the fraud policies that are used to manage fraud risk in order to optimize the balance between client experience, risk, and reward
- Take the initiative to use your expertise to find opportunities and issues, develop ideas on how to fix them, and then make it happen!
Who are we looking for?
- Thought leaders and self-starters who can take ownership for their space AND help us shape the broader strategy and approach
- Ability to build relationships and work across the organization
- Ability to think like a business owner (What is important to our product's success)... and a crook (how could I beat this?)
- Bonus points for prior product, fraud, risk, or analytic experience
Required Qualifications:
- 2+ years of Fraud/risk management experience
- Advanced PowerPoint and Excel skills
- Excellent written, verbal, and interpersonal communication skills
- Self-motivated and possess the ability to work in a fast paced environment and deliver action results quickly
- Ability to engage across lines of business and with senior level executives
- Experience with design and implementation of new processes and/or products
- Experience with developing policy and/or technology requirements for initiatives
Desired Qualifications:
- Functional knowledge of multiple products and/or channels (e.g. Credit, Debit, Digital, Call Center, etc.)
- Experience in Six Sigma, Lean, Agile, JIRA
- Basic technical skills in SAS/SQL
Skills:
- Business Process Analysis
- Change Management
- Policies, Procedures, and Guidelines Management
- Process Design
- Process Simplification
- Business Case Analysis
- Customer Experience Improvement
- Performance Management
- Presentation Skills
- Technical Documentation
- Collaboration
- Critical Thinking
- Executive Presence
- Hiring and Onboarding
- Process Mapping
Shift:
1st shift (United States of America)
Hours Per Week:
40