Fraud Manager

City First Bank N.A.•Los Angeles, CA

just now

About The Position

City First Bank N.A. is a mission-driven Community Development Financial Institution (CDFI) principally focused on a transformative impact in underserved, urban markets with the highest needs to drive equitable economic development. Our credit activities are purely commercial and focused on the following segments: Multifamily Affordable Housing, Not-for-Profit Finance, and Small Business Finance. As a depository and commercial lending provider with over $1.3 billion in bank assets as of December 31, 2024, our unified organization has over 100 employees in Washington DC and Los Angeles/Inglewood, CA. The Fraud Manager is responsible for the enterprise oversight, governance, and strategic direction of the Bank’s fraud risk management program across deposit and lending operations. This role provides second-line independent oversight, ensures alignment with regulatory expectations, and supports the Bank’s risk appetite, growth strategy, and mission objectives. The Fraud Manager oversees fraud risk assessments, fraud monitoring frameworks, investigations governance, loss mitigation strategies, and fraud analytics, while serving as a key advisor to senior leadership, the Board, and cross-functional partners.

Requirements

Bachelor’s degree in Criminal Justice, Finance, Business Administration, or a related field.
5+ years of experience in fraud investigations or related field, preferably within the banking, online banking, and /or financial services industry.
Strong understanding of BSA/AML compliance.
Strong analytical skills with the ability to interpret complex data and identify anomalies.
Knowledge of fraud schemes targeting community banks.
Understanding of regulatory expectations for fraud risk management and model governance.
Familiarity with fraud monitoring software and rule tuning.
Strong analytical and investigative skills.
Ability to provide effective challenge while maintaining collaborative relationships.
Strong report writing and Board-level presentation skills.
Detail-oriented with sound judgment and decision-making ability.

Responsibilities

Monitor and investigate check fraud (altered, forged, counterfeit), ACH and wire fraud, debit card fraud, account takeover, mobile deposit fraud, and identity theft.
Review high-risk transactions and exception reports.
Conduct root cause analysis on fraud losses and identify control weaknesses.
Provide independent challenge to first-line fraud decisions when appropriate.
Review loan files for identity misrepresentation, synthetic identities, income falsification, collateral misrepresentation, and early payment default indicators.
Perform post-funding fraud reviews.
Conduct targeted portfolio reviews when fraud risk indicators increase.
Monitor early payment default trends and emerging lending fraud risks.
Serve as subject matter expert for the bank’s fraud monitoring platforms.
Monitor and analyze alerts generated by fraud detection systems to identify trends and patterns.
Perform alert threshold tuning, rule calibration, false-positive analysis, and scenario effectiveness testing.
Conduct periodic model validations.
Recommend new fraud detection scenarios based on emerging threats.
Partner with IT and vendors to optimize system performance.
Maintain documentation supporting regulatory expectations for model governance.
Conduct and oversee complex fraud investigations, including transaction analysis, account reviews, and interviews as necessary.
Ensure complete and well-documented case files.
Prepare and/or assist with preparation of accurate and timely Suspicious Activity Reports (SARs).
Perform SAR quality control reviews and track regulatory filing deadlines.
Coordinate with law enforcement and regulatory agencies when appropriate.
Monitor fraud loss trends and recovery efforts.
Review account closures and charge-offs related to fraud.
Conduct periodic Fraud Risk Assessments covering deposit and lending operations.
Evaluate the adequacy of deposit controls, lending controls, identity verification procedures, and dual control processes.
Perform site surveys and recommend control and security enhancements.
Identify control gaps and track remediation efforts.
Assist in development and enhancement of fraud-related policies and procedures.