Fraud Strategy, Money Movement Manager

Cambridge Savings Bank•Waltham, MA

1d•Hybrid

About The Position

The Fraud Strategy Money Movement Manager supports Cambridge Savings Bank in balancing fraud risk with growth and contributes to strategy development, data science, and policy functions. The role owns consumer digital money movement strategies for Cambridge Savings Bank and its digital offering, Ivy Bank, in a community and digital banking environment. It partners closely with Product, Treasury, Consumer, Operations, BSA, and Risk to develop and execute accurate, timely money movement fraud risk strategies. Consumer products are the primary focus, with occasional attention to small business and commercial products. The manager builds, monitors, reports on, and maintains transactional money movement fraud risk and consumer money movement limit strategies. Responsibilities also include selecting and monitoring data sources and models, maintaining strategy policies and procedures, forecasting fraud losses, supporting data governance and integrity, and improving controls and processes. The role contributes to cross-functional work, audit and regulatory support, industry engagement, and ad hoc fraud analysis. It also backs up the acquisition fraud risk management function and helps create a trained backup. The position is hybrid in Waltham, Massachusetts, or remote for an exceptionally qualified candidate. The salary range is $150,000–$210,000. Cambridge Savings Bank offers full-time employees comprehensive benefits, including healthcare, parental planning, mental health benefits, performance bonus opportunities, a 401(k) plan and match, and flexible time off. The bank is unable to sponsor or take over sponsorship of an employment visa for this role.

Requirements

Bachelor’s degree in a quantitative or quantitative business-related field.
10 or more years of experience in financial services.
5–7 years of experience in consumer money movement fraud strategy.
Working knowledge of fraud.
Solid understanding of how fraud risk management works with the business to balance risk and reward.
Ability to write and execute query language code in SQL, R, or Python; SAS is not an option.
Advanced Excel skills, including data analysis, pivot tables, forecasting, and modeling.
Experience with core banking, transactional risk management, and fraud-fighting software platforms.
Strong attention to detail and accuracy.
Ability to manage multiple responsibilities in a deadline-driven environment.
Analytical mindset and ability to interpret fraud, customer experience, financial, and credit data.
Strong communication skills, including the ability to explain financial concepts clearly to non-Fraud Strategy partners.

Nice To Haves

Experience in a bank, fintech, or financial institution is strongly preferred.

Responsibilities

Build, monitor, report on, and maintain the Bank’s transactional money movement fraud risk strategies.
Select and monitor data sources and models used to power money movement fraud risk strategies.
Maintain policy and procedure documentation for transactional money movement risk strategy.
Partner with Operations, BSA, and Risk teams to manage fraud and transaction volumes.
Work with Product teams on feature development.
Build, monitor, report on, and maintain money movement limit strategies for daily and monthly amounts.
Select and monitor data sources and models used to power money movement limit strategies.
Maintain policy and procedure documentation for money movement limit strategy.
Partner with Operations, BSA, and Risk teams to manage limit strategies within fraud loss goals, operational constraints, and volume forecasts.
Construct and maintain fraud loss forecasting for existing account portfolios.
Own transactions and money movement limit data pertaining to fraud.
Support data governance and integrity initiatives with IT, Data, and Finance.
Create and maintain accurate fraud strategy change documentation.
Collaborate with Treasury on account valuation.
Collaborate with internal and external teams to understand portfolio activity and emerging risks.
Work with Marketing’s Customer Journey team to balance customer experience with fraud-fighting initiatives.
Represent the Bank at industry functions as a subject matter expert.
Support external audits, internal audits, and regulatory exams as requested.
Back up the acquisition fraud risk management function and collaborate with that function to create a trained backup.
Provide ad hoc fraud analysis as needed.
Perform additional duties as required.