Director of Fraud Detection

Summary:

The Director Fraud is responsible for oversight for the Credit Unions fraud detection and Investigation team that performs end-to-end investigations of fraud, including, alerts, cases, and regulatory reporting of fraud related financial crimes activities throughout the enterprise.

Qualifications & Education:

Bachelors Degree
Minimum six years leading or influencing people required
Minimum six years experience in risk management, financial crimes compliance, with focus on fraud prevention, detection, investigations, building robust fraud programs, tracking and reporting of fraud losses to all levels of management, including regulatory reporting required
Certified Fraud Examiner (CFE) required
Demonstrated experience with successfully building and leading a fraud detection and investigations team
Excellent written and verbal communications skills, attention to detail and strong time management skills
Strong understanding of various fraud types (e.g., identity theft, account takeover, payment fraud) and the tools/methods used to perpetrate them
Experience with fraud detection software, data analytics tools, and risk assessment methodologies
Developed investigative skills - inquiry and analysis, data visualization, and interviewing
Excellent interpersonal skills and ability to interact with branch and business personnel in a mature and professional manner and apply feedback on work product from supervisor(s)
Demonstrate a thorough understanding of fraud investigations processes and tools, and Suspicious Activity Reporting regulatory requirements
Expert-level understanding of laws related to fraud investigations, Breach of Warranty and Hold Harmless process, claims management, and chargeback rules, and ID Theft Red Flags Rule requirements
Strong bank regulatory knowledge including Reg E, Reg Z, Reg CC, FACTA & KYC.
Demonstrated ability to rapidly absorb and synthesize data to form an accurate understanding of context and issues and make strategic and tactical recommendations to business partners

Job Duties:

Develop and implement effective, sustainable and repeatable fraud detection and prevention strategies to ultimately safeguard the financial interests of the credit union and its members
Lead a team of fraud investigators, coordinate with various departments, and utilize advanced tools and technologies to identify and mitigate potentially fraudulent activities across multiple channels
Analyze fraud trends and patterns to continuously improve overarching fraud prevention and detection strategies
Conduct or manage risk assessment engagements to identify potential vulnerabilities through all channels
Oversee the creation and review of fraudulent cases and resolve problems or troubleshoot issues utilizing systems or tools
Provide SME insight into process fraud detection queues and user authentication services
Protect the Credit Union and its Members by minimizing fraud loss, risk exposure and by providing efficient customer service both to internal and external customers
Develop team that monitors account activity and places outbound calls and/or accepts inbound calls when appropriate
Remain up-to-date with industry trends and changes in fraud tactics
Leads Fraud Management meetings, prepares and presents regular reports on fraud trends, incidents, and mitigation efforts to senior management
Oversee investigations into suspected fraudulent activities, collaborating with internal teams, law enforcement, and external partners as necessary
Analyze data from various sources to identify trends, patterns, and potential risks associated with fraud
Provide strategic direction and oversight while supervising, mentoring, and guiding a team of fraud analysts and investigators, ensuring high performance, growth, and collaboration within the team
Develop and implement fraud awareness education, prevention, best practices, detection and response programs by method of formal training and through various platforms.