Fraud Risk Manager

Job Summary: As a Fraud Risk Manager, you will play a crucial role in the development, implementation, monitoring, and continuous improvement of transaction/authorization fraud risk strategies to detect, prevent, and mitigate fraud related to credit card transactions and authorizations. You should have a strong background in fraud risk management, data analysis, regulatory compliance, and understanding of the credit card product. To excel in this role, you should be highly organized, detail-oriented, and thrive in a collaborative, positive team environment.

Job Responsibilities

• Develop and implement fraud detection and prevention strategies for credit card transactions.
• Monitor and analyze transaction data to identify suspicious activities and potential fraud. Analyze large transaction datasets to identify trends, patterns, and insights that drive business decisions.
• Collaborate with internal teams to design and enhance fraud detection systems and tools.
• Conduct risk assessments and develop risk mitigation plans.
• Stay updated on the latest fraud trends, techniques, and regulatory requirements.
• Prepare and present reports on fraud trends and mitigation efforts to senior management. Become adept at explaining monitoring results, reporting, and demonstrating functionality to both technical and non-technical audiences.
• Address specific aspects of problems within a clearly defined scope or area.
• Show proficiency in technical skills and a solid understanding of business principles, including the rationale behind projects.
• Gain familiarity with commonly used data fields, tables, and views, focusing on developing a broad awareness of data.
• Collaborate with IT and other cross-functional teams to ensure the successful implementation of transaction fraud strategies.

Required Qualifications, capabilities, and skills

To excel in this role, candidates must demonstrate the ability to perform each essential duty satisfactorily. The following qualifications are representative of the knowledge, skills, and abilities required:

• Educational Background: A bachelor’s degree in a quantitative discipline such as mathematics, statistics, engineering, computer science, economics, or any other field that emphasizes numerical analysis and data interpretation. A master’s degree is preferred.
• Professional Experience: 3 years of work experience in transaction/authorization fraud risk management in the credit card industry.
• Technical Proficiency: Advanced skills in Excel, SQL, and Python/R.
• Communication Skills: Strong verbal and written communication abilities, with the capacity to clearly convey complex concepts and ideas in both oral and written presentations. This includes anticipating and addressing potential obstacles prior to implementation.
• Adaptability: Flexibility in managing changing priorities, project scopes, and deadlines.
• Familiarity with regulatory requirements related to fraud prevention and data security.
• Excellent analytical, problem-solving, and decision-making skills.
• Ability to work independently and as part of a team.
• Professional certifications such as Certified Fraud Examiner (CFE) are a plus.
• Knowledge of Payment Card Industry Data Security Standard (PCI DSS) compliance is preferred.
• Familiarity with Visa DPS Risk Service Manager, Visa Advanced Authorization, Falcon and other fraud risk scoring systems are preferred.

Physical Demands:

• Must be able to constantly remain in a stationary position.
• The person in this position needs to occasionally move about inside the office to access file cabinets, office machinery, etc.
• Constantly operates a computer and other office productivity machinery, such as a calculator, copy machine, and computer printer.
• Occasionally it may require light lifting up to 20 pounds.

Work Environment:

• Office environment.
• Occasional travel may be required.

This job description reflects management’s assignment of essential functions; and nothing in this herein restricts management’s right to assign or reassign duties and responsibilities to this job at any time.