Consumer Product Strategic Analyst III/US Card Secured and Student Credit Strategies

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 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 and procedural changes within segmentation structures to produce optimal results.

Job expectations include evaluating data to assess potential fraud risk and create mitigation strategies; risk/reward tradeoffs while developing line increase and graduation strategies. This position is an individual contributor role responsible for support of strategies and data within Credit and Underwriting. 

Responsibilities:

• Recommends ways to help the business achieve desired outcomes and make informed business decisions using data analysis outputs
• Performs complex analysis of financial models, market data, financial data, and portfolio trends to understand product performance and improve portfolio risk, profitability, performance forecasting, and operational performance
• Leads coordination of the production of product performance reports and updates for senior management
• Lead trend analysis, forecasting, and performance updates to senior management.
• Leverage analytical knowledge to identify deficiencies and provide recommendations for process improvement.
• Achieve desired business outcomes by performing analysis of portfolio performance trends to improve portfolio risk, profitability, performance forecasting, and operational performance.
• Work closely with Credit Risk, Underwriting, Product, Pricing, Business Controls and Compliance partners to execute Credit Strategy Development and Management; and identify, address, and resolve issues.
• In partnership with Business Enablement team, lead the strategy design for decision engine changes.
• Routinely investigate and provide guidance to internal partners on escalations and complex issues
• Diving into complex data structures across multiple LOB to quickly acquire an in depth knowledge and demonstrate impact in a timely manner.
• Developing comprehensive strategy simulation monitoring of automated strategies to evaluate health of data and strategies
• Package findings for socialization with Strategies, Business Enablement, Legal, Risk, Compliance and senior leaders which articulates associated risks and recommendations
• Remain flexible and juggle multiple complex work streams at a time
• Foster a strong network for collaboration
• Completing account/application reviews when needed to evaluate monitoring outputs to determine if observations are confirmed findings vs. false positives
• Strong analytical skills are required with extensive experience manipulating large data sets using SQL and SAS.
• The candidate should possess the ability to independently drive improvements and proactively consult with partners to identify business needs and solutions.
• Responsible for supporting projects and initiatives within US Consumer Card Credit Strategies
• Leverage data to develop line increase and graduation strategies which balance the risk/reward equation
• Complete ad hoc analysis and monitoring for existing strategies
• Assist with the implementation of strategic changes and enhancements

Required Qualifications:

• 2+ years programming and analytics experience with SAS/SQL, Excel, Access, Word, and PowerPoint
• 2+ year’s experience using database software and analytical/reporting tools, such as SAS, SQL, DB2 to access large relational databases
• Demonstrates a strong understanding of credit risk strategies, financial drivers, and credit operations with proven problem-solving skills
• Knowledge of the core credit platforms utilized in consumer and small business banking
• Understanding of statical functions (e.g. standard deviations) and tools for development, validation, implementation and documentation of credit risk and/or marketing business strategies and scoring toolkits
• Must be decisive and client focused, a team player, creative, strategic, and be a thoughtful risk-taker
• Intermediate to advanced knowledge of MS Office (Excel, Word, and PowerPoint)
• Knowledge of credit policies and procedures for consumer or small business lending
• A passion for learning and using data to derive trends, detect risks, and execute strategy projects
• Excellent presentation, communication and organizational skills; ability to collaborate, manage and expand relationships across the organization and with all levels of management

Desired Qualifications:

• Bachelor’s or Master’s degree preferred in mathematics, statistics, computer science, engineering, economics, finance, or a related quantitative discipline or equivalent experience
• Strong understanding of credit strategies, how they are executed, and how decisioning data is passed downstream for analysis. 
• Expertise regarding the relationships and processes between credit strategies and strategy execution teams is highly desired
• Previous work experience in strategies and/or strategy execution, support of consumer or small business lending involving the use of credit bureau information
• Previous experience in developing credit risk strategies or models preferred

Skills:

• Business Analytics
• Business
• Data Quality Management
• Fraud Management
• Monitoring, Surveillance, and Testing
• Collaboration
• Data Visualization
• Oral Communications
• Problem Solving
• Written Communications
• Analytical Thinking
• Critical Thinking
• Data and Trend Analysis
• Innovative Thinking
• Research

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NY - New York - 1114 Avenue Of The Americas - Grace (NY1544)

Pay and benefits information

Pay range

$79,300.00 - $120,700.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.