Fraud Management Specialist

Beem Credit Union • Burnaby, BC

47d • Remote

About The Position

The Fraud Management Specialist contributes to implementing, supporting, and
monitoring systems and processes related to fraud to promote the protection of
members, staff, and credit union assets. The incumbent partners with the
Compliance team, branches, and departments to monitor fraud exposure and impact
effectively and proactively, and to deliver fraud-related training; all
contributing to a superior member experience. Acts as a subject matter expert
and resource providing guidance on matters related to fraudulent activities and
risk management.

This role is eligible for remote work arrangements within British Columbia.

Requirements

• Minimum 3-5 years’ experience in the field of regulatory compliance.
• Solid knowledge and understanding of regulatory requirements, risk and fraud mitigation practices and policies.

Nice To Haves

• Post-secondary training/education in fraud prevention and investigations is an asset.
• Experience in a risk or regulatory related role within financial services is an asset
• Equivalent combination of the above may be appropriate

Responsibilities

• Conducts ongoing fraud monitoring including risk assessments and transaction and behaviour analysis
• Investigates incoming alerts from internal and external systems; supports fraud detection and prevention through oversight of partners and systems
• Conducts investigations relating to identified or suspected fraudulent and/or illegal activities, including interviewing related witnesses, members and employees maintaining evidence and preparing written case reports in a timely manner
• Supports Enterprise Risk and Compliance Management in investigations
• Liaises with law enforcement, justice system agencies and other financial institutions as part of investigations
• Complies with judicial requests including Production Orders and/or search warrants
• Actively pursues opportunities for recovery, restitution and/or arrest, ensuring all investigations are conducted in accordance with professional standards
• Provides support and advice to branch staff and partner departments in the development, application and administration of effective fraud mitigation processes and procedures
• Coordinates and maintains procedures related to fraud mitigation practices.
• Identifies areas of potential fraud risk exposure; recommends solutions
• Remains current on industry trends, education, products, technology, and relevant laws with respect to fraud
• Develops, implements, and maintains guidelines and procedures relating to fraud monitoring and reporting
• Prepares and files reports related to fraudulent transactions, such as Central 1 Fraud Alert System (FAS) & Enterprise Fraud Management (EFM) cases
• Prepares for approval by Enterprise Risk Management insurance claims related to fraudulent transactions such as Master Bond Loss claims through Stabilization Credit Union
• Prepares reports related to fraud trends and write-offs
• Supports the process and preparation of compliance and risk audits and related reports
• Understands and ensures compliance with regulatory reporting requirements and prepares and submits detailed case reports of real or suspected fraud and/or illegal transactions to the Compliance department for the potential preparation of regulatory reports, such as Suspicious Transaction Reporting to FINTRAC
• Proactively seeks ways to improve efficiencies with fraud related processes
• Supports data analytic solutions to identify emerging risks; brings forward innovative ideas to enhance fraud detection programs and support mitigation efforts
• Identifies training opportunities for areas relating to fraud knowledge and mitigation; recommends and assists with the development and delivery of internal and external training sessions on financial crime prevention
• Partners with Learning & Development to ensure staff fraud management training programs are relevant and current
• Supports branch operations as a point of contact for fraud related inquiries to ensure branch staff are supported; escalates inquiries as necessary
• Collaborates with other departments to direct fraud and fraud-related security issues to appropriate channels for investigation and resolution
• Remains active in investigative community and relevant associations to maintain and build strong working relationships in the industry
• Actively assists in identifying areas related to security-related risk exposure; recommends resolution to ensure overall credit union security.
• Supports broader Risk Management team as necessary in risk-related initiatives and processes

Benefits

• Extended health coverage, including mental health support.
• Dental care that keeps you smiling.
• Disability coverage for peace of mind.
• Take the time you need to relax, explore, or just catch up on life, with vacation and personal days.
• Generous RRSP contributions.
• In-house financial advice to help you plan ahead.
• Flexible options to add your own contributions.
• Free banking accounts.
• Special mortgage and lending rates.
• Preferred financial perks.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed