Fraud Manager

SCU Credit Union•Brockton, MA

3d•$85,000 - $105,000

About The Position

The Fraud Prevention Manager assists in developing, implementing, administering, and maintaining all aspects of the Fraud Department while ensuring compliance with applicable regulations and internal policies. The manager oversees Fraud and Senior Fraud Analysts, sets team goals aligned with Credit Union goals, and provides coaching, training, evaluations, and disciplinary action as needed. The role also provides fraud-prevention training across other business units. The manager investigates complex and escalated fraud and suspicious activity, monitors daily reports and documentation for potential fraud, tracks losses and recoveries, and prepares investigation and management reports. The role develops and maintains fraud prevention policies, procedures, and Standard Operating Procedures; maintains knowledge of relevant investigative techniques, laws, and regulations; uses and maintains the Verafin system; interacts with members reporting fraud; and works with Compliance and law enforcement on investigations and regulatory reporting.

Requirements

Bachelor’s degree from a four-year college or university, or three to five years of related experience and/or training, specifically in compliance.
Ability to analyze data and provide recommendations and/or resolutions to mitigate risk.
Ability to analyze and resolve problems.
Proficiency with Microsoft Office, including Outlook, PowerPoint, Access, Excel, and Word.
Ability to read, analyze, and interpret business periodicals, professional journals, technical procedures, and governmental regulations.
Ability to write reports, business correspondence, and procedure manuals, and to present information effectively and respond to questions.
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, and percentages.
Ability to define problems, collect data, establish facts, and draw valid conclusions.
Ability to interpret technical instructions in mathematical or diagram form and work with abstract and concrete variables.
Ability to analyze and convert raw data into cohesive, presentable data.

Nice To Haves

Experience with Verafin.

Responsibilities

Manage Fraud Analysts, including coaching, training, evaluating, and taking disciplinary action as needed.
Set team goals that align with the Credit Union’s goals.
Train other business units on how to minimize fraud.
Investigate complex fraudulent activity.
Maintain current knowledge of investigative fraud techniques, Bank Secrecy Act requirements, anti-money laundering laws, privacy laws, NCUA regulations, state and federal laws, and investigation and security incident policies and procedures.
Use and maintain the Verafin system and technology to proactively analyze and detect fraudulent activity.
Compile reports for management on the status of current investigations.
Track fraud events, including losses and recoveries, and provide management reporting.
Develop, maintain, and implement policies and procedures to detect and prevent fraudulent activity.
Ensure procedures are clearly documented in Standard Operating Procedures.
Interact with members reporting fraudulent activity as needed.
Review escalated suspicious activity and support further review and regulatory reporting.
Review suspicious documentation submitted for new accounts and loans.
Review daily HELOC advance, ACH Origination, large transaction, Red Flag tracking, and ChexSystems Sentry Service reports for potential fraud.
Assist the Compliance department in compiling information and narratives to determine whether a SAR should be filed.
Liaise with law enforcement agencies on fraud investigations and filing police reports.