Senior Fraud Policy Strategist – Vice President recruitment
Overview
Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States , serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, nearly 18,700 ATMs and award-winning online banking with nearly 29 million active users. Following the acquisition of Merrill Lynch on January 1, 2009 , Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries. Bank of America Corporation stock is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
Job Description
This role is new to Asia Pacific and would be the first on the team to be based in either Singapore or Hong Kong. This role will be reporting into Fraud Monitoring team in the US.
Conceptualize, design and implement fraud prevention strategy; understand and quantify risks associated with new or proposed process or procedural changes, new products or programs, or changes in business conditions. Document and implement industry best practices; lead cross-functional initiatives to prevent fraud. Work with internal clients to understand, quantify and balance the relationship between revenue, cost and fraud losses (risk vs. reward) and establish fraud communication forums with internal clients and business partners.
- Lead and/or participate in cross-functional initiatives that target fraud gap closures and loss reduction.
- Work with business partners (risk, product, operations, policy and technology) to ensure a balanced risk reward perspective across channels.
- Create in-depth product / country assessments to identify fraud gaps in Treasury Management Products.
- Represent Fraud Monitoring team on Global Product projects and initiatives that impact business as usual activities and may result in new processes and procedures.
- Lead projects to close fraud exposure.
- Provide ongoing reporting and recommendations to leadership team.
- Provides risk mitigation recommendations to senior and executive leaders.
- Ability to drive long term solutions, complimented by short term initiatives, while understanding the need to balance and access any immediate needs or events with minimal interruption to business.
- Ability to adapt to change and manage multiple tasks efficiently.
Responsibilities
- Responsible for integration and implementation of fraud monitoring recommendations and act as liasion within line of business segments to ensure fraud polcy perspective is represented in all segment and servicing strategy processes and policies.
- Prepare and present Fraud Prevention material to internal and external audiences including Sales, Operations, external organizations and BAC clients to expand Fraud knowledge base and provide best paractices to mitigate fraud threats.
- Drive improvements for fraud policies/processes across Large Corporate, Commercial and Treasury Management through collaboration and fraud mitigation efforts.
- Understand and quantify risks associated with new or proposed process or procedural changes, new products or programs, or changes in business conditions.
Requirements
- College Degree
- Self motivated with the capacity to work independently
- Ability to deepen partner relationships while integrating fraud monitoring into initiatives and processes
- Requires knowledge of fraud mitigation techniques
- Superior judgment and analytical skills, and excellent communication skills
- Ability to impact and influence within lob and channels
- History of sound decision making
- Analytics and business data reporting experience
- Solid Treasury product business acumen
Desired Skills and Experience
• Process Design Fundamentals- Green Belt
• End to End cross LOB project management experience
• Compliance/ Operational Risk
• Market knowledge, especially for Singapore, Hong Kong and China