Analyst, Ops Fraud Risk

LPL Financial•Tempe, AZ

4d•$26 - $43

About The Position

LPL Financial is hiring an Analyst for Fraud Risk within its Fraud Risk and AML Compliance business unit. Reporting to the Fraud Manager, the Analyst screens, identifies, and reports types of fraud to protect clients and advisors and comply with guidance and regulations from governing bodies including the OCC, SEC, FINRA, FinCEN, and OFAC. The Analyst primarily works independently while partnering with the team and colleagues in the financial intelligence unit (FIU), governance risk and compliance (GRC), service, trading, operations, risk, and other business areas. The role gathers, reviews, and analyzes data to assess reasonable cause, and escalates and manages fraud inquiries. It also organizes and archives collected data, supporting documentation and artifacts, due diligence checks, and case details.

Requirements

Bachelor’s degree in Business, Economics, Accounting/Finance, or equivalent experience is preferred.
One to three years of industry experience, preferably in fraud investigations.
High level of analytical and problem-solving skills.
Ability to multitask, work well under pressure, and deliver under tight deadlines.
Working knowledge of regulatory requirements, preferably AML or fraud.
Written and verbal communication skills, including the ability to present information with varying levels of detail and in appropriate forms for different audiences.
Strong judgment and experience escalating matters and recommending solutions.
Ability to adapt to changing priorities while maintaining attention to detail and quality assurance.

Nice To Haves

Professional licenses or certifications such as CFE or CAMS.
Experience with Equifax, LexisNexis, TransUnion, or other information security providers.

Responsibilities

Field and manage communications from financial advisors, service teams, and operational areas related to fraud and fraud prevention, with an emphasis on protecting information.
Create and maintain accurate case files for fraud investigations.
Work with internal and external partners to stop or reclaim fraudulent transactions.
Log, direct, and track reimbursements, reclaim, and recall amounts for fraud cases, and report monthly on case status and overall trends.
Carry out activities and duties in compliance with regulatory requirements, the Risk Management Framework, and internal LPL Financial policies and policy standards.
Develop, implement, monitor, and track performance of transactional- and account-level fraud event management, strategies, and mitigation tools, including monetary and non-monetary events.
Analyze risks, vulnerabilities, and market trends related to fraud; analyze large datasets to identify anomalies and commonalities.
Collaborate with other teams to deliver requirements for implementing new fraud strategies.
Monitor existing fraud models and strategies to ensure they meet false-positive and detection-rate criteria; explain variances, recommend remedial actions, and analyze customer, account, and transactional data to develop segmentation that improves fraud detection while minimizing impact to legitimate transactions.
Maintain and follow operational policies and procedures, create new guidelines to improve fraud identification and documentation, identify policy gaps or risks, and use technical skills to create reporting.
Collaborate with the team to implement management-sponsored and approved initiatives and projects.
Provide internal training on the Firm’s fraud prevention and awareness programs, policies, and procedures.