Fraud Analyst - Banking Sector

Team Member

Job Description:

About Us

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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Global Business Services

Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.

Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.

In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.

Process Overview*

Fraud Prevention & Detection includes various sub-processes that involve in reducing loss exposure by reviewing events that are determined to be fraudulent to the Bank or our customers. The process begins with the receipt of an alert triggered by a fraud strategy. Fraud analyst perform reviews of events that are alerted into queues based on rules created by our Strategies partners. The incumbent will take appropriate action based on transaction and other customer/account activity, and document the findings for subsequent efforts to contact the customer and resolve the fraud concern.  Process ends when the event is either confirmed valid or confirmed fraud and remediation steps are completed.

Job Description*

The analysts make complex decisions based on research, extensive job experience, judgment, following established procedures and guidelines and utilizing multiple systems and tools. Review debits and validate credits to checking and savings accounts. This is to ensure no fraud is being committed.  Deposit Detection reviews the entire relationship, call maker bank for fund availability if required to make sure our customers are not victims of fraudulent activity.  If fraud is detected we take all necessary precautions to stop the activity while avoiding impact to our customers.

Responsibilities*

The primary responsibility is to review potential fraud alert which is out sorted by fraud filters to protect our customers from fraud while also protecting the bank’s assets.

•            The fraud analyst would require to document the research conducted to support the decision taken on alert

•            The associate will be expected to complete a targeted number of decisions per hour, as well as be measured on decision accuracy.

•            This position requires achievement of productivity and fraud prevention goals, while ensuring compliance with policies and procedures as well as applicable regulatory requirements.

Requirements*

Education*

University Degree (preferably B.Com)

 Certifications If Any

Experience Range*

0-2 years of total experience in financial or other industry

 Foundational skills*

Basic knowledge of bank’s products and services

• Basic knowledge of fraud detection
• Decent Communication skills both verbal or written
• Working knowledge of MS Office with good keyboard/typing skills, and ability to navigate multiple system applications.
• Computer literate with typing speed of 30-40 WPM with 98% Accuracy
• Strong analytical skills.

 Desired skills

Basic knowledge of bank’s products and services

• Basic knowledge of fraud detection
• Decent Communication skills both verbal or written
• Working knowledge of MS Office with good keyboard/typing skills, and ability to navigate multiple system applications.
• Computer literate with typing speed of 30-40 WPM with 98% Accuracy
• Strong analytical skills

Work Timings*

Process operates : shift timing – 7:30 AM to 4:30 PM 

Job Location*

GGM

Experience Level

Mid Level