Fraud Risk Manager

Responsible for performing the necessary functions to manage the credit union’s fraud prevention efforts. This position plays a pivotal role in safeguarding the financial interests of our members by identifying, assessing and mitigating fraud risks across all credit union channels. Development of staff in accordance with management expectation and maintaining a robust prevention program with minimal member impact is expected.

Major Duties and Responsibilities

• Oversees the process for investigation and processing of fraudulent, illegal, or improper activities by responsible parties and the prevention and recovery of losses caused by such activities. Develop investigative strategies and techniques to identify, evaluate, and prevent fraud. Maintain records of investigations and provide updates to management, regulators and law enforcement as needed.
• Hire, coach and lead a cohesive, highly trained staff whose priority is compliance with management and industry expectations. Conscientiously assigns performance objectives, offers year-round performance feedback, and conducts timely performance discussions and reviews. Ensure that team has the support and tools they need to meet organizational objectives.
• Responsible for managing, administering, and enhancing all aspects of fraud monitoring systems, including making sure that appropriate parameters are in place to mitigate fraudulent activity with minimal member impact. Monitoring systems include both system reporting and automated fraud monitoring software.
• Continually assesses existing fraud mitigation rules and processes to identify potential gaps and recommends changes to existing strategies or programs to mitigate loss.
• Maintains a keen understanding of credit union products and services including plastic cards, ITM, ACH, draft and wire processing, BillPay, internal and external transfers, real-time payment channels and person to person transactions, etc.
• Assists in supporting daily operations related to fraud management, including review of alerts, department chat, email notifications, and requests for service. Capture, record, analyze and refine fraud activity metrics into developed database.
• Participate in trade groups, forums and industry training to uncover additional fraud mitigation solutions implemented by industry leaders.
• Liaises and communicates with teams, departments and leaders to ensure they are adequately informed and aware of fraud detection and prevention best practices.
• Must comply with all company policies and procedures, applicable laws, and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.
  
  

Experience
A minimum of three years of similar or related experience including preparatory experience. Experience developing, proposing, implementing and monitoring fraud mitigation rules in a financial institution. Preferred minimum of one year in a leadership role. 

Education/Certifications/Licenses
Bachelor's Degree

Interpersonal Skills
A significant level of trust, credibility and diplomacy is required. In-depth dialogue, conversations and explanations with customers, direct and indirect reports and outside vendors can be of a sensitive and/or highly confidential nature. Communications may involve motivating, influencing, educating and/or advising others on matters of significance. Typically includes subject matter experts as well as first level to middle managers.

ADA Requirements
Physical Requirements
Is able to bend, sit, and stand in order to perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs. Must be capable of climbing / descending stairs in an emergency situation. Must be able to operate routine office equipment including computer terminals and keyboards, telephones, copiers, facsimiles, and calculators. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours or travel off site whenever required or requested by management. Must be capable of regular, reliable and timely attendance.

Working Conditions
Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.

Mental and/or Emotional Requirements
Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to complete basic mathematical calculations, spell accurately, and understand computer basics. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.