Team Member
6 months ago
**Overview (Bank overview, GBS India overview, Function Overview)**
Bank of America is one of the world’s leading 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.
We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.
We are a part of the Global Business Services which delivers technology and operations capabilities to all Bank of America lines of business (LOB) and enterprise functions.
Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.
- BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.
**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**
DFD 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**
Computer literate with typing speed of 30-40 WPM with 98% Accuracy
Strong analytical skills.
**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
- 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
- Computer literate with typing speed of 30-40 WPM with 98% Accuracy
- Strong analytical skills
**Work Timings**
Shift Timings : 6: 30 AM to 3:30 PM & 10:30AM to 7:30PM
Weekly Off : Split off
**Job Location**
MUM
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