Manager
Job Description:
About Us
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!
Global Business Services
Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.
Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence, and innovation.
In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.
Process Overview
Driving reduced losses and customer friction by performing model validation work on a portfolio of fraud models
This role supports the Consumer Client Protection organization, and you will partner with vendors, independent model risk management, technology, and business strategy teams to document, deploy, and assess performance of fraud models used to reduce losses and minimize customer disruption.
Responsibilities
The role will be responsible for several key areas:
- Work with vendors and internal modeling partners to develop approval documentation for new fraud scores and algorithms. This will include a comprehensive write-up on how the models are built, testing and validation work done, methodology, sampling, performance, etc.
- Conduct periodic model validations on scores, looking for key metrics such as precision, recall, rank ordering of score performance, detection of PSI and other metrics as needed to ensure models are performing well and not deteriorating, which could lead to unexpected fraud losses
- Partner with our Strategies teams to communicate model performance and trends, including providing key insights into areas where scores are deteriorating or underperforming, so appropriate adjustments can be made to prevent unexpected losses
- Work with our partners in Model Risk Management (MRM) to close out any follow-up items on partially/conditionally approved models
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- Form strategic partnerships with MRM to develop best practices for fraud model governance that satisfy both the need for quick deployments to mitigate risks, but also our internal and regulatory concerns
- Develop dashboards and MIS to show model performance, trending, and potential issues
- Support automation initiatives within the team and try to automate repetitive tasks
Requirements
Education
- Advanced degree, preferably in Statistics/Mathematics, Computer Science, Engineering or other quantitative discipline from a premier institute
- Certifications If Any
- Technical certifications in SAS, SQL preferred
Experience : 5 - 7 years
Foundational skills*
- Experience in SAS or SQL is required. Knowledge of Python/PySpark is strongly preferred. Should also have experience with other data extraction tools like Hive, HUE, or Pig.
- Proficiency with visualization software such as Tableau and presentation software such as PowerPoint
- Excellent communication and organizational skills
- Ability to think outside the box and excellent drive/desire to dig in, learn and make a difference
Desired skills
- Bachelor's degree preferably in a quantitative discipline such as mathematics, statistics, engineering, computer science, finance, or business. Post graduate degree is a plus.
- U.S financial services experience preferable
- Understanding of business domains like Fraud/Compliance/Risk preferable
Shift Timings: 11 30 AM to 8 30 pm
Location: Mumbai/ Gandhinagar / Chennai / Hyderabad
Perks and Benefits
Health and Wellness
- FSA
- HSA
- Health Insurance
- Dental Insurance
- Vision Insurance
- Life Insurance
- Short-Term Disability
- Long-Term Disability
- Pet Insurance
- Mental Health Benefits
Parental Benefits
- Non-Birth Parent or Paternity Leave
- Birth Parent or Maternity Leave
- Adoption Assistance Program
- Adoption Leave
- Family Support Resources
Work Flexibility
Office Life and Perks
Vacation and Time Off
- Leave of Absence
- Personal/Sick Days
- Paid Holidays
- Paid Vacation
- Sabbatical
- Volunteer Time Off
Financial and Retirement
- 401(K) With Company Matching
- 401(K)
- Financial Counseling
Professional Development
- Tuition Reimbursement
- Internship Program
- Associate or Rotational Training Program
- Mentor Program
- Access to Online Courses
Diversity and Inclusion