Fraud Prevention Manager

Responsible for managing the Fraud Prevention Department. Manages the organization’s fraud prevention program which encompasses the implementation of processes, strategies, systems and policies to detect and prevent fraud as it relates to monetary and non-monetary transactions; to reduce, eliminate or control any current or prospective risk of losses and reputation.Responsibilities:Fraud PreventionResponsible for the management and direction of the fraud prevention department to ensure the Bank has a program in place to prevent and detect fraud that originates both externally and internally.Form partnerships with business units to ensure that new or modifications to products, policies, processes, channels and systems do not increase business fraud risk and are adequate for foreseeable threats and trends. Support the business units in the implementation of fraud preventive technology controls and methodologies that reduce risk and therefore minimizing fraud lossesEffectively manage new and existing third-party vendor relationships for the implementation of fraud prevention controls, monitoring and reporting of fraudulent activities.Stay abreast of existing, new and emerging fraud trends as they relate to financial institutions and develop strategies to protect the organization from these initiatives.Direct the implementation and improvement of fraud prevention and deterrent controls and fraud prevention strategies to mitigate and deter the risk of fraudulent activities with both new and current Bank processes and systems.Communicate to Sr. Management fraud prevention strategies and emerging and existing fraud trends to assist in strategic decision-making process. Deliver presentations for Sr. Management, Board of Directors and Committee’s as needed.Responsible for establishing the fraud prevention framework, policies, procedures and methodologies.Fraud MonitoringEnsure that the adequate infra-structure (dashboards, systems, etc) is in place to properly detect and manage fraud activities, exposures, analysis of fraudulent patterns and implementation of preventive solutions.Responsible for leading the research, selection and implementation of Fraud Management System enhancements, convergences and implementations necessary to oversee the monitoring of transactions for suspicious and/or fraudulent activity.Oversee the process of development, documentation, validation and implementation of fraud models, methodologies and tools to prevent and timely detect fraud.Fraud InvestigationsOversee the investigation of fraud cases, supporting interaction with Law Enforcement and other financial institutions with the objective of recovery of funds, criminal prosecutions when possible and identification and recommendation of control processes for prevention of recurring frauds.Work closely with Corporate Security to support the investigations of suspected fraudulent perpetrators.Fraud AnalyticsIdentify and quantify optimization of opportunities through the development of statistical/data modeling.Conducts advanced data analysis and highly complex designs algorithm.Applies advanced statistical and predictive modeling techniques to build, maintain, and improve fraud reduction controlsLeads discovery processes with stakeholders to identify the business requirements and the expected outcome always aligned with the reduction of fraud.Provides on-going tracking and monitoring of performance of the rules behaviors and fraud models.Other:Oversee the analysis of fraud loss data and recommend policy or procedural changes based on analysis of trends and other findings.Ensure preventive measures are carried out to fully comply with current rules, regulations and internal policies relating to risks pertaining to BSA, USA Patriot Act, OFAC and other AML related issues.All department management aspects such as personnel matters, evaluations, performance metrics, etc.To identify, evaluate, monitor and make any recommendation deemed necessary to their respective Risk Management Committee in order to assess, reduce, eliminate or control any current or prospective risks to earnings or capital arising from violations of, or nonconformance with, laws, rules, regulations, prescribed practices, internal policies and procedures or ethical standards.Works directly with third party providers and oversee relationships with third party vendorsMinimum Education and/or Certifications Requirements:Bachelor's Degree in Management, Business Administration, IT, or equivalent experience in Banking Operations and Technology. Master's Degree preferred.Minimum Work Experience Requirements:7 to 10 years related experience in the Banking industry. Intellectual knowledge needed to evaluate emerging trends and bank operations for implementation of appropriate controls in the prevention of fraud.Technical and/or Other Essential Knowledge:Knowledgeable and competent in assessing, controlling and managing fraud risks, with experience in risk exposure identification, risk evaluation, and risk control. Additionally, candidate must have a thorough understanding of technology and its integration with the Bank’s operating environment. Excellent analytical skills, especially numerical, mathematical and statistical.Strong interpersonal and leadership skills to develop effective partnerships internally and externally. Excellent presentation skills and public speaking experience are needed to clearly communicate all aspects of the unit goals, objectives, strategies and status. Analytical skills to provide the ability to communicate complex ideas clearly. Excellent time management skills needed to balance multiple priorities and implement timely fraud prevention strategies. Previous experience with Internet and MS Office Skills, including MS Word Advanced, MS Excel Advanced, MS PowerPoint Advanced, MS Project Advanced and MS Visio Advanced required.Proficiency and fluency in Spanish and English preferred.