Fraud Operations & Investigations Lead

Melville, NY

Posted: 07/02/2018 Employment Type: Direct Hire Job Category: Risk Job Number: 49
Job Synthesis and Description

The primary responsibility of the NY Fraud Operations and Investigations Team Lead is to work in a cross-functional capacity within the Corporate Fraud Division to detect, prevent, investigate and recover financial fraud. The lead will perform detailed monitoring of moderate to complex account activity and client behavior analyses that includes High Risk online banking, wires, ACH (receiving and origination), Check, debit/ATM, and other fraud, while ensuring compliance with regulatory and operational policies including but not limited to Regulation E, CC, GG, V, the FCRA, FACT Act, Bank Secrecy Act, NACHA, Visa Operating Rules and the Banks policies. The Lead will be responsible for providing leadership and oversight, including coaching and mentoring, to a team of Fraud Analysts/Investigators in NY and serve as a subject matter expert for the NY Fraud Team.

Specific Responsibilities
  • Provide leadership, mentoring and coaching to a team of Fraud Analysts/Investigators as needed to effectively apply the processes designed to prevent, detect, investigate and recover certain types of financial fraud, such as check fraud, wire fraud, online take overs, elderly exploitation, plastic card fraud, ACH fraud and other types of fraud.
  •   Analyze and monitor daily reports/alerts generated to detect fraudulent card, check, ACH, wire transfer, malware and online banking activity and take the appropriate action according to policies and procedures.
  • Process and analyze customer fraud claims including check fraud and Electronic Funds Transfer (EFT) according to regulatory guidelines, NACHA, Visa Operating Rules and bank policy and procedures.
  • May recommend changes to current processes, responsibilities and procedures to  effectively mitigate possible fraud.
  • Use internal and external resources to obtain forensic evidence for investigative purposes when reviewing fraud detection reports or investigating cases.
  • Thoroughly manage alerts and cases according to existing procedures ensuring accurate and detailed documentation and adherence to the Suspicious Activity Reporting recommendation procedures.
  • Ensure investigations and resolutions comply with applicable laws, Bank policy, and industry leading practices to reduce the Bank' s exposure to civil litigation.
  • Adhere to all designated timeframes, manage workflows to the specified deadlines and complete responsibilities effectively, accurately and timely.
  • Serve as a branch support for unusual, suspected/confirmed fraud, or undesirable activity.
  • Will perform general account handling functions such as; close account determination, holds, restraints, etc.
  • Contact and effectively communicate with customers, peers, front-line and Management, as needed via multiple channels (phone, email, secure messages) to validate information and confirm authorization of transactions (wires, debit card, etc.) or other account activity.
  • Conduct root cause analysis on fraud events to identify emerging fraud trends and provide recommendations to Management for proper response to threats taking into consideration client impact.
  • Identify improvement opportunities and provide recommendations to Management to modify detection techniques without negatively affecting client experience or fraud exposure.
  • Thoroughly manage alerts and cases according to existing procedures ensuring accurate and detailed documentation.
  • Complete all job related training in a timely manner and attend seminars or continuing education, as directed. Remain current with arising fraud trends and activities by attending networking workshops and/or training.
  • Perform any other assignments as directed by Management.
Key Requirements
  • Must be knowledgeable of Regulations/Acts that pertain to the job functions which include, but are not limited to; Regulations E, CC, GG and V; the FCRA, FACT Act, Bank Secrecy Act; NACHA and Visa Operating Rules.
  • Must have experience in the areas of fraud detection of plastic card/ACH fraud, Identity Theft, check fraud, wire fraud, online banking fraud, bank operations and other related fraud.
  • Must have experience with the recovery rights for various types of check fraud (altered, forged and endorsement) and EFT claims (ACH and Debit/ATM) and wire recalls processing.
  • Must specialize in bank operations with experience in fraud prevention, detection, investigation and recovery.
  • EDUCATION and/or EXPERIENCE: College degree preferred. 7+ work experience in similar setting with financial fraud exposure. 7+years of bank operations and financial fraud prevention and detection experience preferred. Strong understanding of financial transactions and financial fraud is required.
fraud, fraud risk, fraud investigations

Spencer Knibbe
Managing Partner

Spencer is the Founder and Managing Partner of MBK Search, LLC - an executive search firm that specializes in the governance, risk, compliance, and cybersecurity market space. Prior to founding MBK, Spencer was Head of Operational Risk at Bridgewater Associates. Before moving to Bridgewater, Spencer was the Head of Risk for ICAP, Plc covering the Americas Region. He started his career in venture capital as an investment associate.

Spencer graduated from Harvard University in 2001 and resides in Ridgefield, CT with his wife and two sons.

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