Consumer Credit Strategy Analyst III page is loaded
Consumer Credit Strategy Analyst III
Apply locations Belfast Plano Charlotte Newark Newark time type Full time posted on Posted 3 Days Ago job requisition id 25021591
Job Description:
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.
This position is an individual contributor role responsible for support of strategies and data within Credit and Underwriting. The individual will serve as the Consumer Vehicle Lending Strategies Pillar Leader, responsible for managing day to day control monitoring, partnering with Strategies to develop new monitoring routines to validate underwriting strategies and lender decisions are working as expected. The centralized oversight by this individual will evaluate existing monitoring routines for potential enhancements, ensure proper escalation and resolution when unexpected outcomes are observed.
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
* Evaluating route cause/gaps
* 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
* Ability to enhance monitoring scripts to weed out 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 Authorizations Strategies
* Leverage data to develop Authorization strategies which balance the risk/reward equation
* Complete ad hoc analysis and monitoring for existing strategies
* Assist with the implementation of Authorization 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
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Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure. Please review the resume writing and interviewing tips provided below to help prepare you for your next career opportunity.
Regardless of the position you are interested in, the starting points to building your resume are the same:
1.Determine the job or types of jobs you want to do and research their responsibilities and qualifications.
2.Think about why you can do the job and make a list of your skills that are relative to the job.
3.Identify experiences or accomplishments that show your proficiency in the skills required for the job.
4.Summarize your abilities, accomplishments and skills into a brief, concise document.
Considerations when writing a resume
•Do be brief. Resumes should be 1-2 pages in length.
•Do be upbeat and active in your wording.
•Do emphasize what you have done clearly and concretely.
•Do be neat and well organized.
•Do have others proofread and critique your resume. Spell check. Make it error free.
•Do use high quality, white or light colored 8½ x 11 paper. Use a laser printer if possible.
•Don't be dishonest, always tell the truth about yourself in the most flattering light.
•Don't include salary history or requirements.
•Don't include references.
•Don't include accomplishments that do not support your professional goals.
• Don't include anything that isn't relevant. (For example, don't mention your fondness for swimming unless you want to work on the water.)
•Don't use italics, underlining, shadows or other fancy treatments.
Seven steps to a successful interview
1.Anticipate –Put yourself in the interviewer's position. What do you believe the interviewer is most interested in? Why do you think you have been invited to interview?
2.Research –What are the primary functions of the line of business? What are the success factors for the job? Is there a job description available?
3.Assess –Think about your skills, abilities, knowledge, interests, traits, values and accomplishments. Match them to what you know about the job. Consider which ones you should highlight.
4.Prepare Answers –Think about what the interviewer may ask, determine what the best answer is and write it down.
5.Prepare Questions – Interviewing is a two-way street. By asking thoughtful questions, you communicate your interest and learn a lot about the job. Choose two or three questions to ask your interviewer. Avoid asking a lot of questions about vacation time or breaks.
6.Practice – It may seem awkward, but it is the best way to come across well in an interview. Practice your own "great responses" with others or in front of a mirror until you appear relaxed and at ease.
7.Follow-up – Send a brief follow-up letter to the interviewer. Keep in mind that the many job searchers will not send a follow-up letter. Sending one can become a competitive advantage.
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