Fraud Analytics and Innovation Senior Analyst (Vendor Onboarding and Innovation)
Charlotte, North Carolina;Richmond, Virginia; Plano, Texas; Chandler, Arizona; Jacksonville, Florida; Newark, Delaware; Phoenix, Arizona
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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 fraud 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/procedural changes within segmentation structures to produce optimal results. Job expectations include evaluating data to assess potential fraud risk and creating mitigation strategies.
We are seeking a detail-oriented analyst that will support our Vendor Innovation Projects to join our Fraud Strategic Enablement (FSE) team at Bank of America. This role will support the team that leads the evaluation, onboarding, and ongoing management of new and existing third-party vendors specializing in fraud detection and prevention solutions. The ideal candidate will leverage strong project management skills to help coordinate and assess vendor capabilities, performance, pricing, market positioning, while collaborating with SMEs on due diligence, internal approvals, and enterprise wide communication. This position plays a critical role in the firms growth while ensuring compliance in a fast-paced environment.
Our team, Fraud Strategic Enablement, is tasked with driving the strategy, design, and execution of the next-generation of fraud controls to protect our clients. We are investing heavily in new capabilities and have built a strong team of seasoned fraud leaders and industry experts to lead the programs. We are looking for a process oriented team member who can coordinate and support project teams that lead the analysis to optimize the deployment and efficacy of new and emerging fraud technologies.
Responsibilities:
Develop detailed checklist to facilitate the review and onboarding of fraud vendors including the following:
Stakeholder requirements / matrix
Project Plans
Requirements documentation
Vendor debriefs and assessment
Document and navigate internal governance reviews for vendor approvals (including proof of concepts), collaborating with legal, compliance, procurement, and IT teams to secure necessary endorsements and documentation.
Help conduct fraud-specific analytical assessments of vendors, analyzing their tools, efficacy in detecting fraudulent activities, and alignment with Bank of America standards.
Partner with SMEs and leadership to continuously monitor and recommend new and emerging fraud technologies and assess their potential impact to Bank of America.
Support the end-to-end vendor evaluation and onboarding process, including initial screening, RFP/RFI coordination, and contract negotiation support.
Research and analyze top vendors in the fraud prevention space, identifying emerging trends, strengths, weaknesses, and opportunities through market intelligence.
Develop and maintain dashboards for tracking vendor evaluations and on-boarding including performance metrics, onboarding timelines, and key risk indicators using tools like Tableau, Power BI, or Excel.
Evaluate vendor pricing models, perform cost-benefit analysis, and benchmark against industry standards to ensure competitive and value-driven selections.
Socialize vendor status updates, preparing status reports, presentations, and communications for key Client Protection and Bank of America stakeholders in fraud, risk, and executive leadership.
Monitor ongoing vendor relationships, flagging issues related to performance, fraud incidents, or contractual obligations, and recommending remediation strategies.
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This position is not eligible for sponsorship.*
Required Qualifications:
3 years experience in in vendor management, third-party risk, fraud analysis, or procurement, preferably in banking or financial services
Excellent communication and presentation skills
Proficiency in dashboard and project reporting tools
Experience managing competing priorities
Ability to understand the information needs of business users and senior leaders and build to those specifications with minimal direction
Knowledge of vendor due diligence frameworks, bank regulatory compliance, and/or vendor contract principles.
Excellent communication and interpersonal skills for socializing information across teams; strong organizational abilities to manage multiple vendor processes simultaneously
Ability to work independently while collaborating in a team-oriented environment
Desired Qualifications:
3 - 5 years experience in in vendor management, third-party risk, fraud analysis, or procurement, preferably in banking or financial services
Experience in major banks or financial institutions with a focus on fraud prevention
Familiarity with agile/lean methodologies for process improvements
Background in vendor market research and/or competitive intelligence in the FinTech/Bank Vendor space
Knowledge of multiple bank products and/or channels (e.g. Credit, Debit, Digital, Call Center, etc.)
Advanced Excel Skills for financial models and trend analysis
SQL and/or SAS coding ability
B.A./B.S in Business, Finance, Risk Management, Information Technology, Engineering or related field
Skills:
Analytical Thinking
Business Analytics / Project Management
Fraud Management
Problem Solving
Artificial intelligence / Machine Learning
Innovative Thinking
Presentation Skills
Risk Management
Oral and Written Communications
For internal employees; participation in a work from home posture does not make you ineligible to post.
Shift:
1st shift (United States of America)
Hours Per Week:
40
Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
To view the "Know your Rights" poster, CLICK HERE (https://www.eeoc.gov/sites/default/files/2023-06/22-088\EEOC\KnowYourRights6.12.pdf) .
View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.pdf) .
Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy ("Policy") establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.
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. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank's required accommodation request process before your first day of work.
This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.
