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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. 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
Team reviews accounts for potential fraud based on various indicators and decision on whether accounts to be kept active or closed are made using various applications. The incumbent will require to review account activity for fraud risk indicators, apply analytical judgment to determine potential customer impact and appropriate fraud risk mitigation. Individual to take either no action or close or refer the alert basis the review and also document the findings for further course of action.
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)
Experience Range 2-4 years of total experience in Fraud Detection & Prevention
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 +8% 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 +8% Accuracy
Strong analytical skills.
Work Timings
6:30 PM to 3:30 AM
Weekend Working
Job Location - MUM
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. 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
Team reviews accounts for potential fraud based on various indicators and decision on whether accounts to be kept active or closed are made using various applications. The incumbent will require to review account activity for fraud risk indicators, apply analytical judgment to determine potential customer impact and appropriate fraud risk mitigation. Individual to take either no action or close or refer the alert basis the review and also document the findings for further course of action.
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)
Experience Range 2-4 years of total experience in Fraud Detection & Prevention
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 +8% 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 +8% Accuracy
Strong analytical skills.
Work Timings
6:30 PM to 3:30 AM
Weekend Working
Job Location - MUM
💡 Quick Summary
Seeking a career-building opportunity? The Team Member position is now open for candidates interested in the Bank Jobs sector. This role in Mumbai offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.
