Corporate Title: Exempt – Fraud Officer

Department: Technology Department

Reports to: Senior Vice President, Information Technology

COMPANY BACKGROUND:
Carver Bancorp, Inc. (NASDAQ: CARV) the holding company for Carver Federal Savings Bank, is a federally chartered institution with approximately $650 million in assets and 125 employees. The Bank was chartered in 1948 to address the banking needs of middle income and underserved communities in New York City. Carver operates 7 full-service branches in the New York City boroughs of Brooklyn, Queens and Manhattan. The Bank provides commercial real estate and small business loans and a range of complementary bank products and services.Position Summary
The Fraud Officer is responsible for the proper oversight of Carver Federal Savings Bank Fraud Risk Management Program approved by the Board of Directors to detect, prevent, and deter fraud or possible fraud that is an essential part of the safe and sound operations of the Bank.

Responsibilities

Fraud Officer:Serve as the Bank’s primary point of contact to fraud prevention and detective measures. This entails:

• Analyzes customer account activity though the utilization of transactional fraud, check scoring, ATM and POS scoring, core system, and report research tools to ensure the Bank maintains a high level of loss avoidance and a low level of risk due to fraudulent activity within the Bank’s customer base.
• Assists in the process of safeguarding Bank assets and minimizes operating losses and exposure to loss through effective loss analysis and prevention procedures.
• Performs ongoing risk assessments to determine areas of heightened risk for possible fraud and adequacy of the Bank’s detective and control environment.
• Provides quality service to Bank customers and business partners through the utilization of fraud and research tools in an efficient manner.
• Develop and maintain daily processing checklists and logging processes.
• Performs strategic analysis of fraud trends and patterns, manages system configurations, and provides subject matter expertise on industry “best practices” to prevent fraud.
• Understands the digital delivery channels as it relates to products and services offered by the Bank and the corresponding security strengths and weaknesses, including proficient knowledge and understanding of customer authentication methods, transactional risk scoring, core system configuration and risk mitigation methodologies and requirements.
• Reviews and analyzes risk activity on alerted accounts to determine potential fraud related to items such as checks or ACH items processed, debit cards, kiting, new accounts to determine application and data validity, and researches suspect account activity and takes appropriate action such as, but not limited to, restricting or closing accounts to prevent fraudulent financial transactions to mitigate loss to the Bank and its customers in accordance with established rules and Bank policies and procedures.
• Implements account relationship closure to avoid continued loss, determines whether holds or account restrictions may need to be placed against accounts through analysis of the account relationship and the probability of loss to the Bank, and assists in the determination if a Suspicious Activity Report (SAR) should be filed with Financial Crimes Enforcement Network (FinCEN).
• Develops, reviews, and analyzes custom fraud reports, validating suspected items against established rules, identifies problems and presents written solutions ensuring accuracy and validity of information, compiles data, and maintains necessary records and files to ensure efficient and consistent reporting of all suspicious investigations, and defines and documents business requirements, processes and methodologies needed to develop and support fraud prevention systems.
• Develops best practices and processes for fraud scoring rules, strategies, and other business improvements to help reduce fraud activity and chargebacks.
• Evaluates the adequacy and effectiveness of policies, procedures, processes and internal controls, reviews and analyzes findings to determine level of risk, drafts corrective action plans and assists in managing change to prevent/mitigate risk, and performs risk analysis and modeling as a precursor to building financial crimes strategies and models that directly impact operating losses and indirectly impact credit losses.
• Partners with Information Technology to identify data sources and develop processes and reporting for capturing required data.
• Works with various Bank personnel and law enforcement authorities in researching and investigating suspicious events, maintains centralized fraud incident response reports, and develops and maintains a working relationship with state and federal law enforcement agencies.
• Assists with the development, implementation, and monitoring of fraud prevention initiatives including concentration analysis and establishment of exposure limits.
• Assists in comprehensive self-testing, independent third party and regulatory audits, makes necessary preparations for such audits or exams, assists in the coordination of responses to external auditors and regulatory examiners, and ensures deficiencies identified from such audits and examinations are corrected.
• Conducts fraud and suspicious activity training presentations and exercises with all Bank personnel, including material presented to employees during the new hire orientation process.
• Responds to inquiries or refers inquiries to the appropriate department or person and exhibits the necessary follow through with customers and/or staff involved.
• Processes, solves, and answers complex customer transactions, problems, or inquiries.
• Assures compliance with all Bank policies, procedures and processes, and all applicable state and federal banking laws, rules, and regulations, and adheres to Bank Secrecy Act (BSA) responsibilities that are specific to the position.

Secondary Duties: The position of Fraud Officer performs duties specific to the position and other functions as assigned.

Supervisory Responsibility: The position of Fraud Officer is not responsible for the supervision of any employee(s).

Qualifications/Requirements

The requirements listed below are representative of the knowledge, skill and/or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.

• Bachelor’s degree from a four-year college or university, or ten years of related experience and/or training, or the equivalent combination of education and experience. Work related experience should consist of an in-depth background in financial institution operations, security or information security, or legal areas involving investigations or fraud prevention. Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be applicable to the financial industry, or regulatory or law enforcement agency.

• Intermediate experience, knowledge, and training in all Bank operational terminology.

• Knowledge of related state and federal banking compliance regulations, Bank operational policies and procedures, and the Bank’s products and services.

• Advanced knowledge of regulations pertaining to suspicious customer activity, including preparation, and filing of SARs.

• Advanced knowledge and ability to detect and identify various white-collar crimes, general fraud, and money laundering schemes using various fraud prevention controls and monitoring systems.

• Proven ability to effectively train and instruct others in a formal classroom or one-on-one environment.

• Ability to read, analyze and interpret general business periodicals, professional journals, and technical procedures.

• Excellent organizational and time management skills.

• Advanced skills in computer terminal and personal computer operation, host computer system, word processing, spreadsheet, and specialty software programs.

• Advanced ability with report writing utilities, with the ability to develop historical reports sourced from bank core systems, utilizing data warehouse reporting tools. (Jack Henry Card Connect Analytics, and IBM Cognos)

• Exceptional verbal, written and interpersonal communication skills with the ability to apply common sense to carry out instructions and instruct others, train personnel, write reports, correspondence, and procedures, speak clearly to customers and employees.

• Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.

• Ability to work with no supervision while performing duties.