Cons Prod Strategy Mgr II - Digital Money Movement - Fraud Strategy

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 Summary:

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 join the digital commerce fraud strategy team. This is an exciting opportunity given the constantly evolving nature of digital adoption and attacks in marketplace as well as in money movement. The incumbent will be responsible for managing a team focused on fraud and scam prevention strategies for key digital money movement channels. 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.     

As a Fraud Strategy Manager with the Client Protection organization, you will capitalize on technical abilities and strategic thinking to solve business challenges and seek opportunities for improvement.  You will join a team of fraud professionals who are dedicated to stopping criminals and protecting customers.  In the role you will spend time analyzing difficult problems as we try to stay one step ahead of the fraudsters.   You will develop complex defenses designed to minimize the impact to good customers while maximizing fraud loss avoidance.  You will work across multiple partner organizations and represent our team as a subject matter expert.  We are looking for someone with strong communication skills, sound business judgement, results oriented with a track record of thriving in a fast-paced entrepreneurial environment.     

Job Responsibilities:

• Develop and implement robust third-party fraud and scam detection program rooted in digital space to safeguard the organization against financial fraud.
• Provide recommendations on mitigation efforts, ensuring monitors are in place, and will self-create initiatives as needed.
• 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.
• Ensuring proper risk controls are deployed, while adhering to best practices.
• Provide oversight on defect reviews of 3rd party/scam loss cases to identify any gaps in Fraud strategy and/or procedural adjustments. 
• Providing fraud requirements, testing, and development of strategies for new project and e