Company: Bank of America

About Company : 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.

Company Website: www.bankofamerica.com

Positions: Team Member

Job Location: Hyderabad, Telangana

Experience: 0 – 2 years

Salary: Best In Industry

Qualification: Graduation in any stream

Job Description:

The process involves working on claims/disputes raised by Bank of America customers or other Financial Institutions in regards to any potential fraud committed towards them. The team works on different sub-processes involving different guidelines and different mode of payments (Checks, Wire and ACH) which necessitates on completing all possible remediation actions to recover funds for our customers, initiating temporary credits if eligible, sending Fraud statements, providing interest to the accounts after a claim completion and to assist other Financial Institutions in their attempt for any recoveries. This work does not involve interface with the customer.

• Associates receives claims from the Check fraud initiation team and other financial institutions which are disputed by the customers.
• The primary process involves verifying the disputes with the transactional history and the authorization documents of the customers to utilize the best available remediation technique for fund recoveries and to apply any defenses possible against the dispute. This also includes providing temporary credits to the customers, putting hold on disputed checks to prevent further usage and documenting the suspects
• Sending Introductory Letters and Fraud Statements to the customers within the set turnaround time.
• Submitting request for interest adjustment after the completion of claim.
• Setting up claims for other Financial Institutes.
• Determine the best course of action for the Customer and the Bank.

Responsibilities

• Investigate the claim to identify potential fraud on the claims and look for available options for fund recovery or denial if applicable.
• Should have strong understanding of the internal policies, procedures, Check guidelines to dispute resolution and regulatory requirements when reviewing Customer accounts
• Adherence to the SLA’s – productivity, turn-around-time, and accuracy.
• Should be flexible in working multiple functions
• Able to read and understand the Checks and accounts.
• Perform review of the claims in various applications as per guidelines.
• Delivering high-quality work which should be Customer focused and self-directed as any error in the processing would lead to financial loss to Bank and may result in a regulatory impact.
• Eye for details and must be procedure focused to adhere to the Policy guidelines.
• To be proactive in highlighting any discrepancies and incorrect processing’s.
• Must be quick learner to adapt to new systems and procedural change.

Skills:

• Fundamental understanding on Debit Cards
• Good Communication Skills(both written and oral)
• Strong analytical skills
• Detail oriented
• Proven Problem Solving Skills
• Self-motivated and results orientated

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