Senior Risk Analyst

3 weeks ago

Belfast, United Kingdom Bank of America Full time

Job Overview

This position is tasked with conducting advanced analyses aimed at enhancing portfolio risk management, profitability, performance forecasting, and operational efficiency for consumer financial products, including credit card services. The primary responsibilities involve leveraging expertise across various business and technical domains to independently drive strategic enhancements, manage large-scale initiatives, and execute key projects. This role requires collaboration with business partners within the Line of Business and associated teams, including Risk and Product divisions.

The successful candidate will be part of the Workforce Strategy, Forecasting and Performance, Reporting & Diagnostics Re-Design team. This group is dedicated to delivering proactive strategic guidance for Client Protection, facilitating insightful reporting and analytics, effective workforce management, and financial forecasting accompanied by business narratives. The individual will spearhead efforts to reconstruct fraud loss forecasts, provide updates on loss performance, articulate the drivers behind the forecasts, and engage with key stakeholders to comprehend recent trends and issues impacting these forecasts.

Key Responsibilities:

  • Conducts sophisticated analyses of financial models, market data, and portfolio trends to assess product performance and enhance portfolio risk, profitability, and operational efficiency.
  • Mentors and coaches colleagues to elevate their proficiency in various systems, serving as a subject matter expert in multiple business and technical areas.
  • Analyzes economic and portfolio conditions to identify business trends and communicates insights to senior leadership.
  • Supports the execution of large-scale projects, such as platform migrations or new project integrations, through advanced reporting and analytics-driven insights.
  • Provides both short-term and long-term loss forecasting, alongside analyses of historical and projected fraud loss performance.
  • Develops, assesses, and recommends innovative methods to enhance forecasting accuracy.
  • Constructs fraud forecasting models utilizing key inputs and drivers to boost precision.
  • Interprets financial results to extract trends, delivering valuable insights to the business and senior management.
  • Offers ongoing financial support to product and loss finance teams.
  • Identifies and leads initiatives aimed at continuously improving, automating, and scaling forecasting processes and methodologies.
  • Collaborates with finance and key stakeholders to communicate forecast drivers, impacts, loss performance, and reconciliation.
  • Prepares, distributes, and consolidates regular fraud loss reporting packages.
  • Implements enhancements in recurring monthly reporting while adhering to all deadlines.

Required Qualifications:

  • Bachelor's degree in Finance, Accounting, Economics, or a related field.
  • Minimum of 5 years of experience in fraud analysis and/or analytical/financial roles, preferably within Payment Card or Retail Banking Finance.
  • Exceptional quantitative, analytical, and critical thinking abilities.
  • Strong understanding of finance and accounting principles.
  • Excellent communication skills with the ability to engage effectively with others, demonstrate leadership, and exhibit strong interpersonal skills.
  • Professional demeanor when interacting with executive-level personnel across the organization.
  • Proven ability to present, lead, support, and influence senior management and business stakeholders.
  • Innovative mindset with a willingness to challenge existing practices.
  • Leadership and management capabilities, including team and individual development.
  • Ability to prioritize and manage multiple projects simultaneously.
  • Proactive in identifying, analyzing, and enhancing existing processes for optimization and timely delivery.

Desired Qualifications:

  • MBA or advanced studies in finance, accounting, or business management is preferred.
  • Advanced analytical and quantitative skills with a demonstrated ability to utilize data and metrics to identify root causes.
  • Basic understanding of 1st and 3rd party fraud dynamics.
  • Proven strong analytical and communication skills.
  • Experience in leading teams.
  • Comprehensive financial knowledge and understanding of fraud loss drivers.
  • Proficiency in programming languages such as SAS or SQL, along with experience in e-Ledger and Enterprise GL tools.

Skills:

  • Analytical Thinking
  • Business Analytics
  • Data and Trend Analysis
  • Fraud Management
  • Problem Solving
  • Collaboration
  • Innovative Thinking
  • Monitoring and Testing
  • Presentation Skills
  • Risk Management
  • Data Visualization
  • Regulatory Compliance
  • Issue Management
  • Oral and Written Communication

Shift:

1st shift (United States of America)

Hours Per Week: 40

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