The role will monitor all processes, features, and systems to prevent and detect fraud. Manage fraud investigations, and escalate observations (when appropriate). Additionally, seek to strengthen fraud risk management and safeguard the product from current and emerging fraud trends.
- Provide governance and strategic oversight to fraud the product risk management program.
- Coordinate the development and review of policies, procedures, and processes to support fraud risk.
- Collaborate with business partners to ensure fraud controls are considered as part of risk management activities, incorporated into product or service risk profiles, adequately designed, and operating effectively.
- Develop and monitor fraud mitigation strategies for all types of fraud.
- Deploy fraud control measures and systems rules.
- Conduct fraud investigations, internal investigations and liaison with law enforcement.
- Monitor customer transactions using alert systems to identify fraudulent activity such as account take over, friendly fraud, theft, counterfeit and similar other risks.
- Leads cross-functional initiatives to proactively detect and prevent fraud from occurring; research and document current procedures and processes that impact fraud.
- Lead the development and implementation of fraud risk management strategies based on customer behaviors.
- Work with the product and technology teams to enhance existing fraud tools and assess the impact and feasibility of new solutions.
- Coordinate enterprise-wide training efforts, and implementation of Fraud related projects and initiatives, including communication of significant concerns, fraud threat intelligence, emerging trends, and regulatory guidance.
Relevant Decisions of the Role:
- Approval of strategy to detect and prevent fraudulent transactions.
- Sign-off of fraud protocols & procedures for fraud incidents.
- Escalation of fraud observations to Senior Management, risk management, and regulators.
- Definition of fraud control measures and system rules.
Role Contribution Complexities:
- Establishing high-standard controls, procedures and strategy to mitigate fraud risks.
- Collaborating with payments processor on the effective detection of fraudulent activities.
- Monitoring and managing risk incidents effectively.
- Collaborating with multidisciplinary teams to implement fraud controls within the product design.
- Bachelor’s degree in economics, accounting, or in another business related discipline.
- 7+ years of experience.
- Experience in a law enforcement field.
- Math Skills.
- Communication Skills.
- Leadership Skills.