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GENERAL SUMMARY:
Reporting to the BSA Officer, the Fraud Risk Manager will manage the Bank’s fraud prevention efforts to ensure adequate measures are in place to detect fraud attempts against the Bank and prevent those losses from occurring. In addition, the Fraud Risk Manager will oversee a team of Fraud analysts, manage daily workloads, and provide insight into the process, policies, and procedures.
Reporting to the BSA Officer, the Fraud Risk Manager will manage the Bank’s fraud prevention efforts to ensure adequate measures are in place to detect fraud attempts against the Bank and prevent those losses from occurring. In addition, the Fraud Risk Manager will oversee a team of Fraud analysts, manage daily workloads, and provide insight into the process, policies, and procedures.
PRINCIPAL DUTIES AND RESPONSIBILITIES:
Fraud Risk Manager will:
Act as a point of contact for the BSA Officer and the team of Fraud analysts to manage and escalate fraud issues.
Manage the Bank’s fraud prevention efforts, reviewing daily alerts generated by the Bank’s transaction monitoring systems and ensuring adequate measures are in place to detect fraud attempts against the Bank and prevent those losses from occurring. Make recommendations to adapt or create new fraud prevention rules and oversee upgrades of failed or obsolete systems as appropriate.
Manage the Bank’s fraud related cases involving Bank or customer loss seeing them through to completion. Provide notification to the required team members throughout the Bank of the status of each case as appropriate. Maintain detailed records of instances of fraud with supporting documentation.
Prepare and file all Suspicious Activity Reports on behalf of the Bank ensuring accuracy and timely filing within the guidelines dictated by FinCEN. Maintain detailed records of all SAR filings with supporting documentation in an organized and efficient manner.
Participate and present fraud program updates to senior leadership committees
Identify emerging risks and threats and specify potential areas for operational and analytic improvements.
Monitor fraud controls and procedures to improve customer experience, fraud detection effectiveness, and operational cost.
Drive the implementation of productivity improvements and tool enhancements to identify fraud more effectively.
Work with operational risk, internal audit and compliance along with control standard and process owners to identify and evaluate the effectiveness of application fraud controls.
Perform ad hoc analyses as required
