Consumer Product Strategy Analyst III – Loss and Expense Forecasting

Bank of America
Published
April 26, 2021
Location
Jacksonville, FL
Category
Job Type

Description

Job Description:
Responsibilities:

Responsible for performing more complex analysis and modeling for multiple products with the goal of maximizing profits and asset growth and minimizing risk and operating losses and/or other financial and marketing exposures. Develops complex program models to extract data and uses multiple databases to acquire statistical and financial data. Utilizes portfolio trends to propose policy/procedural changes within segmentation structure to produce optimal results. Excels at risk/reward trade off. Build relationships with external agencies. Participates in the rollout of company-wide pilot programs developed as a result of programmed models. Duties primarily include the regular use of discretion, independent judgment, the ability to communicate with multiple levels of management and the utilization of core leadership behaviors. SAS and/or MicroStrategy experience preferred; 2-5 years’ experience preferred.

Responsibilities include:

  • Lead efforts to rebuild the 1st and 3rd party fraud loss forecasts, provide loss performance updates and commentary for loss packages, outline and communicate the drivers of the forecasts, and partner with key stakeholders to understand recent trends, initiatives, and issues that impact the forecasts.
  • Provide short and long term loss forecasting in addition to analysis on both historical and projected 1st and 3rd party fraud loss performance
  • Responsible for developing, evaluating, and recommending new methods to improve forecasting accuracy.
  • Develop/build fraud forecast models leveraging inputs and drivers to improve accuracy
  • Ability to interpret financial results extracting trends to provide valuable insights to the business and Senior Management
  • Assist in providing ongoing financial support to the product and loss finance teams
  • Identify and lead initiatives to continuously improve, automate, and scale forecasting processes and methodologies
  • Partner /Collaborate with finance and key stakeholders on the communication of forecast drivers, impacts, loss performance, and reconciliation
  • Prepare, distribute, and consolidate weekly, monthly, quarterly fraud loss packages
  • Identify and implement improvements with recurring monthly reporting and adhere to all deadlines
  • Manage the efforts of others as needed

Required to work from the primary work location listed when not in remote operating stance.

Initially you may be required to work from home and/or remotely in this role:

  • Internet Service Provider at home (no public WiFi or Internet)(high speed internet access and a secure or password-protected internet connection)
  • Sufficient room to set up a laptop, monitor, keyboard and mouse
  • Comfortable space to work for a full shift
  • Quiet, private and SECURE space in which to work

Required Skills & Experience:

  • 5+ years of fraud experience and/or  5+ years of analytical /financial experience (Payment card /Retail Bank Finance background preferred)
  • Outstanding quantitative, critical thinking, and analytical skills
  • Confidence with finance and accounting concepts
  • Ability to work with and communicate effectively with others, demonstrate leadership, and possess strong interpersonal skills
  • Ability communicate and interact with a high degree of professionalism with executive level personnel across the business
  • 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
  • Ability to prioritize and handle multiple projects at the same time
  • Ability to proactively identify, analyze, and improve upon existing processes for optimization and to meet deadlines

Desired Skills & Experience:

  • Bachelor's degree in Finance, Accounting, Economics (or related discipline)
  • MBA or graduate level work in finance, accounting, and/or business management
  • Advanced analytical and quantitative skills with demonstrated ability in using data and metrics to identify root causes
  • Basic understanding of 1st and 3rd party fraud (claims to charge-off timing, chargeback recovery rights, etc.)
  • Proven strong analytical and communication skills
  • Experience leading teams
  • Strong financial knowledge and understanding of fraud loss drivers
  • Strong knowledge of programming language (i.e. SAS or SQL) and experience with e-Ledger and Enterprise GL tools (EPM)   

Shift:

1st shift (United States of America)

Hours Per Week: 

40

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