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Fraud Manager

4 months ago

Webster, United States The Ladders Full time
It's fun to work in a company where people truly BELIEVE in what they're doing

We're committed to bringing passion and customer focus to the business.

Position Summary

The Fraud Manager at Wellby is responsible for developing, implementing, and managing effective fraud prevention and detection strategies to safeguard the financial interests of the credit union and its members. The incumbent will lead a team of fraud analyst and investigators, coordinate with various departments, and utilize advanced tools and technologies to identify and mitigate potentially fraudulent activities across multiple channels.

Principle Duties and Responsibilities
  • Demonstrate willingness and ability to exhibit Wellby Core Values every day.
  • Work purposefully and is driven to provide the best internal and external member experience.
  • Implement overarching fraud prevention and detection strategies tailored to the credit union's unique risk profile and member base.
  • Provide strategic direction and oversight while supervising, mentoring, and guiding a team of fraud investigators, ensuring high performance, growth, and collaboration within the team.
  • Foster fraud awareness throughout the credit union by conducting training sessions and workshops.
  • Conduct regular risk assessments to identify emerging fraud threats and vulnerabilities, adjusting strategies as needed to address evolving risk and industry trends.
  • Oversee real-time monitoring of transactions and account activities to detect suspicious patterns or anomalies promptly and mitigate fraud and financial risks.
  • Lead investigations into suspected fraudulent activities, collaborating with internal teams, law enforcement, and external partners as necessary.
  • Stay abreast of technological advancements in fraud prevention tools and techniques, implementing relevant solutions to enhance fraud detection capabilities.
  • Analyze existing processes to identify potential gaps and vulnerabilities in fraud prevention measures, utilizing thorough data analysis and risk assessment techniques.
  • Formulate comprehensive recommendations for resolving identified process gaps, integrating best practices and innovative solutions to enhance fraud detection and mitigation efforts.
  • Implement approved action plans using a structured change management strategy, ensuring seamless integration of new processes and technologies while minimizing disruption to operations and maintaining regulatory compliance.
  • Prepare and present regular reports on fraud trends, incidents, and mitigation efforts to senior management and relevant committees.
  • Collaborate with other departments such as Risk Management, Compliance, IT, Lending, and Retail to develop a holistic approach to fraud prevention.
  • Ensure that all fraud prevention activities comply with relevant laws, regulations, and industry best practices.
  • Maintain all business affairs of both internal and external members confidentially.
  • Maintain the highest levels of integrity and professionalism.
  • Perform related duties and special requests as assigned, including representation on Credit Union project teams.
Knowledge, Skills, and Abilities (KSA)
  • Knowledge of Wellby's organizational functions and general operating policies and procedures.
  • Knowledge of the regulations which govern financial institutions.
  • Knowledge of federal, state, and local policies, laws, and regulations pertaining to investigating fraud.
  • Knowledge of human behavior and performance.
  • Knowledge of general office procedures and practices, business English, spelling, punctuation, and arithmetic.
  • Skilled in Microsoft Office Suite (e.g., Excel, Power Point, Word)
  • Skilled in investigative and analytical skills, including documenting findings to support account reviews.
  • Skilled in troubleshooting and resolving highly complex fraudulent problems.
  • Skilled in operating computer equipment and general machines such as personal computer, copier, projection equipment, audio/video, Microsoft Teams, Zoom Video Communications, and adding devices.
  • Ability to identify discrepancies and problems.
  • Ability to explain information in understandable language so that others will understand. Must be able to exchange accurate information in these situations.
  • Ability to execute complex investigations, deep dives, and special projects in a timely manner while communicating recommendations and findings to management and other stakeholders.
  • Ability to multi-task, maintain accuracy, and meet deadlines in a fast-paced, high-volume environment.
  • Ability to efficiently understand and follow oral and written instructions, perform routine duties without close supervision, and establish and maintain effective working relationships with other team members.
  • Ability to communicate clearly and concisely, orally and in writing.
  • Ability to coordinate several concurrent activities simultaneously.
Supervisory Responsibilities
  • The team member does have supervisory responsibilities.
Complexity & Scope of Work
  • The team member will ensure policies, procedures, and programs are consistently administered, aligned with organizational goals, and compliant with professional standards.
  • The team member performs routine and generally related tasks without supervisory direction.
  • Tasks may occasionally have to be coordinated, integrated, and/or prioritized.
  • Courses of action are determined by established procedures and/or the their leader
  • The team member's work is reviewed periodically for accuracy, completion, and compliance with the policies and procedures.
  • The team member uses independent judgment in making decisions.
Physical Demands & Work Environment
  • The physical demands and work environment characteristics described here represent those that must be met by a team member to perform the essential functions of this position successfully. Reasonable accommodations may enable individuals with disabilities to perform essential functions.
  • To perform this job successfully, the team member is frequently required to remain in a stationary position 50% of the time. Daily movements include sitting, standing, reaching, and grasping; operating computers and other office equipment; moving about the office; and attending possible onsite and offsite meetings.
  • The team member must be able to exchange information in person, in writing, and via telephone. Some degree of stress results from contact with management and other team members.
  • The ability to observe details at close range (within a few feet of the observer).
  • Must be able to occasionally lift items weighing up to 25 pounds across the office and load them onto shelves for various needs.
  • The noise level in the work environment is usually moderate.
  • Work involves the typical risks and discomforts associated with an office environment but is usually in an adequately cooled, heated, lighted, and ventilated area.
Minimum Qualifications
  • Bachelor's degree in Risk Management, Criminal Justice, Finance, Business Administration, or a related field is required.
  • Minimum five (5) years of relevant work experience in fraud prevention, detection, or investigation within the financial industry, with a successful fraud mitigation track record.
  • Minimum three (3) years of managerial experience overseeing complex systems and workflow.
  • Minimum three (3) years in supervisory or management roles, demonstrating adept leadership in team development and management.
  • Certified Fraud Examiner (CFE), Certified Anti-Money Laundering Specialist (CAMS), and Certified Risk Professional (CRP) preferred.
  • 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.
  • Conflict resolution and negotiation skills through appropriate persuasion and genuine empathy.


For All Candidates

This is a Full-Time, Salary (exempt) role.

Wellby is an equal opportunity and affirmative action employer and gives consideration for employment to qualified applicants without regard to race, color, religion, sex, national origin, age, disability, genetic information, sexual orientation, gender identity or expression, pregnancy, veteran status or any other legally protected characteristic. If you'd like more information about your EEO rights as an applicant under the law, please contact Human Resources.

Wellby provides equal opportunity to qualified individuals with disabilities and disabled veterans. If you need a reasonable accommodation, please email [redacted] or call [redacted] for assistance.

Disclaimer
The statements herein are intended to describe the general nature and level of work being performed by team members and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified. Furthermore, they do not establish a contract for employment and are subject to change at the discretion of the Company.