Fraud Prevention Officer

Vast Bank is looking to hire a Fraud Prevention Officer

About Vast Bank

Since February of 1982, we've been a financial institution that has served customers in Northeast Oklahoma and beyond. Our deep roots in the community and commitment to personal service have enabled us to grow alongside our customers, creating conveniences and solutions to fit unique problems and lifestyles. For over 40 years, we've built a legacy on personal service, flexibility, strength, and integrity. Now, with bold leadership and a renewed commitment to customer-centricity, we're aiming higher for the next 40 years. New ideas, strong partnerships, and modern technology will accompany a winning culture to deliver more control and a surprisingly easy banking experience.

We're a company that believes in taking care of the people who make working here possible. In addition to competitive compensation, we offer a leading employee benefit package:

• Comprehensive benefits package & 401(k) match
• Professional development- opportunities for advancement!
• Tuition assistance
• Transit reimbursement
• Paid time off
• &more!

Summary Of Role 

The Fraud Prevention Officer is responsible for developing, overseeing, and executing the Bank’s fraud prevention and fraud risk management program across all traditional banking channels, digital platforms, and high-risk customer segments. This role provides leadership in fraud strategy, monitoring, investigations, system optimization, and emerging risk identification. The Officer partners with BSA/AML, Information Security, Payments, Operations, Digital Banking, Risk, and business-line teams to ensure strong preventive controls, timely detection, and effective response to fraud threats impacting customers and the Bank. 

Major Duties and Responsibilities 

• Manages and coordinates fraud prevention, mitigation, and investigation efforts across all payment rails, including ACH, wires, checks, card transactions, real-time payments, digital channels, and Fair Access Banking products. 

• Leads the Bank’s annual and ongoing Fraud Risk Assessment process. 

• Identifies high-risk transactions, emerging fraud schemes, suspicious activity patterns, and threats across customer segments. 

• Conducts timely and thorough investigations, implements appropriate controls, and collaborates with business lines and law enforcement (local, state, and federal) when warranted. 

• Ensures appropriate recovery efforts are executed and documented. 

• Implements and manages fraud detection and prevention tools and technologies used across payments and Fair Access Banking channels. 

• Recommends and deploys corrective actions in response to identified high-risk events, losses, customer impacts, and control gaps. 

• Tracks fraud and payments-industry trends, regulatory changes, and threat intelligence to inform risk mitigation strategies. 

• Prepares clear and timely fraud trend analyses, investigation summaries, payment fraud dashboards, and loss reports. 

• Continuously enhances fraud-risk management efforts, identifying opportunities to reduce fraud risk while supporting compliant and fair customer access to banking services. 

• Supports Fair Access Banking by ensuring fraud controls and decisioning align with nondiscriminatory practices, consumer protection laws, and equitable access principles. 

• Develops, updates, and implements fraud-mitigation procedures, investigation protocols, and educational materials for internal and external stakeholders. 

• Delivers training and guidance to staff, management, and cross-functional teams on fraud prevention, payment-fraud typologies, fraud-tool usage, and Fair Access Banking requirements. 

• Handles all fraud-related inquiries, incidents, and escalations, including communication with customers to gather information, provide guidance, and support resolution. 

• Serves as a subject matter resource for complex fraud, payment-risk, and Fair Access Banking issues, ensuring consistent and compliant interpretation of risk-monitoring and reporting expectations. 

• Maintains a strong working knowledge of fraud risk management frameworks, payment-system rules, and applicable laws and regulations (e.g., Reg E, UDAAP, BSA/AML, Fair Access Banking requirements). 

• Ensures all fraud-prevention and investigation work is completed in accordance with federal and state regulations, bank policies, and industry best practices. 

• Must comply with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.  

Knowledge & Skills 

Experience 

• 10  years of experience in fraud prevention, financial crimes, payments risk, or related investigative roles within a financial institution. 

• Strong understanding of payment systems (ACH, wires, checks, cards, RTP), fraud typologies, and digital-banking risk. 

• Working knowledge of regulatory requirements including Reg E, UDAAP, BSA/AML, and Fair Access Banking principles. 

Education/Certifications/Licenses 

Bachelor’s degree in Business, Finance, Criminal Justice, or related field; or equivalent work experience. 

Interpersonal Skills 

A significant level of trust and diplomacy is required to be an effective subject matter expert in the position. In-depth dialogues, conversations and explanations with customers, direct and indirect reports and outside vendors of a sensitive and/or highly confidential nature is a normal part of the day-to-day experience. Communications can involve motivating, influencing, educating and/or advising others on matters of significance. 

Role Important Behavioral Skills 

• Strong communication skills to develop good working relationships and to promote cooperation and compromise among various departments. 

• Display the ability to research and comprehend a high level of knowledge in current and developing regulations. 

• Ability to develop and maintain effective working relationship at all levels by proactively participating and contributing to a positive work environment, controlling emotions and temperament, and exhibiting courteous, respectful, and professional behavior. 

• Ability to quickly adapt to changing environments, processes, and technologies. Technological ability and willingness to work remotely from home as required. 

• Strong organizational skills.  

• Ability to maintain composure under pressure or adverse circumstances, using effective strategies for managing personal stress. 

• Ability to maintain personal and work direction when faced with ambiguity. 

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 a 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 the highest level of discretion on both internal and external confidential matters. 

EEO StatementIt is the policy of Vast Bank to afford equal opportunity in all phases of employment without regard to an individual’s race, color, creed, religion, gender, national origin, age, disability, marital status, ancestry, sexual orientation, unfavorable military discharge for qualified individuals with disabilities, and for qualified disabled veterans and veterans of the Vietnam era, to the extent required by applicable local, state and federal law.