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 Summary:
This job is responsible for managing 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 and developing employees, and partnering across technology, product, and risk leadership to drive performance.
We are seeking a visionary Senior Fraud Strategy Leader to join our Fraud Strategic Enablement team within Client Protection at Bank of America. This role is pivotal in helping to shape the Bank’s fraud prevention strategy and investment roadmap by building /leading the program to develop strategic insights into global fraud trends (particularly AI-driven). This role will be required to be able to develop structured, industry-level assessments of risks and solutions in line with what you would expect from top-tier strategy consultants or leading research firms like Gartner. In addition to driving this proactive strategic assessment, this leader will also have accountability for selecting and driving the evaluation and testing of promising industry fraud prevention and detection tools. This is a fantastic opportunity for an experienced, strategic leader to have a direct impact on the forward-looking fraud risk management strategy at one of the world’s largest banks. This position demands a blend of strategic thinking, deep fraud expertise, and executive-level influence.
Responsibilities:
- Establishes department-wide strategies and oversees portfolio trend analysis, forecasting, and risk/control performance
- Leads innovation by identifying and championing large scale initiatives that improve the risk management, profitability, and control oversight of risks for their business unit(s)
- Identifies business trends based on economic and portfolio conditions and communicates findings to senior management
- Coaches employees on best practices for structuring complex problems, performing analysis, and communicating the results and implications of their work
- Builds and maintains strategic relationships with peers and counterparts across product, technology, and business control functions
- 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
- Coaches and mentors peers to improve proficiency in a variety of systems and serves as a subject matter expert on multiple business and technical-related topics
- Supports execution of large scale projects, such as platform conversions or new project integrations, by conducting advanced reporting and drawing analytics based insights
- Leverage industry insights, news articles, vendor relationships, and hands-on research to developing an ongoing assessment of global fraud trends, emerging risks from AI, and how these will likely impact clients and the Bank. Create and share across the enterprise a structured framework around these risks using consulting-style frameworks and assessments.
- Monitor Regulatory and Industry Developments: Stay ahead of evolving regulations, threats, and industry research, translating these into actionable strategies.
- Analyzing vendor roadmaps and R&D pipelines to identify how their capabilities can proactively address evolving threats like synthetic identities, account takeover via deepfakes, or supply chain fraud in a post-quantum era.
- Internally, lead knowledge-sharing programs such as executive workshops, fraud strategy forums, and innovation labs to disseminate cutting-edge insights across departments, fostering a culture of continuous learning and proactive risk awareness.
- Lead the selection and evaluation of promising 3rd party solutions:
- Use strategic assessment, industry intelligence, and hands on discussions and evaluations with vendors to develop a clear framework for evaluating existing vendor solutions and their applicability to emerging risks. Drive assessments and consensus on which solutions are worth further exploration and evaluation / pilots. Lead pilot programs for cutting-edge solutions while ensuring alignment with ethical AI practices and privacy standards.
- Conducting comprehensive vendor due diligence and RFP (Request for Proposal) processes, evaluating offerings from leading fraud detection providers against criteria such as scalability, innovation potential, integration feasibility, and cost-effectiveness.
- Lead Vendor Evaluations and Strategic Partnerships: Lead the assessment and selection of external vendors and technology partners to enhance the bank's fraud prevention capabilities, including
- Facilitating proof-of-concept (POC) trials and pilot implementations to test vendor solutions in real-world scenarios, measuring performance against key metrics like false positive rates, detection accuracy, and adaptability to regulatory changes
Required Qualifications:
- 10+ years in fraud strategy, risk management, or related fields within financial services, consulting, or research environments.
- Bachelor's degree in Business, Engineering, Finance, Computer Science, or a related field
Desired Qualifications:
- Master's degree (e.g., MBA) or equivalent professional certifications preferred.
- Proven track record in executive-level strategy roles at a tier 1 consulting firm, or a major Financial Services institution.
- Deep expertise in fraud trends, including cyber threats, insider risks, and emerging technologies.
- Strong analytical skills with proficiency in data modeling, scenario planning, and strategic frameworks.
- Executive Level Influence: Ability to collaborate internally and externally at the executive and expert-levels to develop new insights, socialize impacts, and build advocacy and awareness.
- Ability to navigate ambiguity in a complex environment, balancing strategic vision with tactical execution.
Skills:
- Strategic Thought Leadership
- Business Analytics
- Data and Trend Analysis
- Fraud Management
- Problem Solving
- Artificial intelligence / Machine Learning
- Innovative Thinking
- Statistical Design of Experiments and Solution Testing
- Presentation Skills
- Risk Management
- Oral and Written Communications
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
Shift:
1st shift (United States of America)
Hours Per Week:
40