Director of Fraud Operations

2 months ago

El Monte, United States East West Bank Full time

We are currently seeking a Director of Fraud Operations to join our Centralized Operations Group and will lead the strategic direction for fraud prediction, prevention and remediation at East West Bank. Responsibilities of this role include executing the bank’s strategy direction, achieving bank’s risk appetite goals and objectives, and executing the first line fraud risk management program which includes all fraud related functions including generating high risk fraud alerts, working fraud alerts, researching fraud activity, and investigating and recovering items confirmed as fraud. This role will require significant collaboration with key functional departments across the bank to minimize and mitigate fraud risk for the bank and our customers.

Additionally, this role is responsible for the leadership, support, execution, and on-going development of the Risk & Operations department and it includes leading fraud detection, claims, fraud investigations and fraud strategists to ensure fraud risks are mitigated, operational efficiencies are maximized, and that the fraud program complies to all regulatory and compliance standards.


  • Implement the Fraud Risk Management Program and ensure adherence to Bank Fraud Policies:
  • Ensure appropriate fraud management controls and monitoring processes are in place, including key performance indicators, fraud analysis framework, and reporting.
  • Assess the fraud risks faced by the bank through the implementation of a fraud risk assessment and prevention and detection processes.
  • Ensure appropriate action plan is in place to address weaknesses and mitigate fraud risk.
  • Fraud SME and fraud oversight responsibility for new product launches, new system and tool evaluations, and day to day operations
  • Continuously research and stay abreast of industry best practices including identification of new threats and mitigations strategies.
  • Minimize fraud losses, fraud scams, and first party fraud cases through effective fraud prevention and detection strategies and sound operational practices.
  • Oversee internal fraud training programs, and customer training programs to ensure foundational fraud prevention and identification measures are in place.
  • Partner with BSA team to ensure fraudulent/suspicious applications are vetted for fraud activity (id theft, traditional fraud, first party fraud).
  • Utilize industry contacts to obtain fraud benchmarking information, and best practices, and aid in investigation efforts and fraud recoveries.
  • Oversee vendor relationships and ensure service levels, and performance standards are met for all outsourced functions related to fraud.
  • Fraud Operations and Investigations:
  • Lead fraud operations to ensure the team is effective and efficient mitigating fraud losses to the Bank and its customers.
  • Lead investigation initiatives with identified and measurable milestones and goals, including regular, comprehensive reporting to inform key leaders of efforts relating to each initiative.
  • Ensure fraud investigations result in optimized recoveries, and that all regulatory and internal fraud reporting is completed timely and accurately.
  • Deliver verbal and written briefings to internal partners and key leaders regarding identified issues and findings relating to each initiative as needed.
  • Participate in, and execute, ongoing fraud risk assessments within operational business units – monitor areas of perceived potential risk and assess the materiality of risks.
  • Ownership and maintenance responsibilities for all fraud procedures, and related documentation to systems, processes, staffing for all fraud related activities.
  • Provide support regarding any internal fraud investigation matters as required.
  • Fraud Strategy and Analytics
  • Partner with second line of defense on data analysis to identify trends and ensure fraud strategy is effective in detecting and preventing loss to the Bank and it’s customers (including non-customers).
  • Leverage fraud strategists to react to real-time events that require immediate actions to mitigate exposure/loss to Bank.
  • Ensure all fraud monitoring strategies have effective measurement controls, validations, and optimization processes in place.
  • Lead, coach, and develop a team of direct reports.
  • Responsible for ensuring the team is verse in fraud related matters including case investigations.
  • Ensure all fraud functions have primary & back-up staff designations.
  • Provide training and coaching on related matters where needed.
  • Maintain a team that can appropriately execute on fraud program for the bank.
  • Develop & execute on expanded support structure with team in Asia.


  • Bachelor’s degree in criminal justice, Finance, Business Administration, or related field, preferred.
  • 7+ years banking experience required, including fraud operations with a heavy focus on retail banking.
  • 7+ years leading or influencing people preferred.
  • Demonstrated knowledge/experience and understanding federal/state laws and regulations relating to bank fraud, check and debit card rules and compliance is required.
  • Strong working knowledge of bank products, services, bank systems and transaction types.
  • Familiarity with automated fraud transaction monitoring systems.
  • Strong interpersonal skills; comfortable interacting with team members of all levels.
  • Strong communication and presentation skills to senior-level staff; ability to communicate complex analyses into technical and non-technical terms (written and verbally) with this audience.
  • Ability to take initiative and work independently under tight timelines.
  • Strong team collaboration skills.
  • Ability to effectively manage multiple projects and priorities simultaneously.
  • Fluent (read, write, speak) in Mandrin/Cantonese strongly preferred.



Compensation

The base pay range for this position is USD $200,000.00/Yr. - USD $280,000.00/Yr. Exact offers will be determined based on job-related knowledge, skills, experience, and location.

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