Director - Fraud Surveillance

Job Description:

Title "Director - Fraud Surveillance"

The Purpose of Your Role:

As a Team Leader Fraud Surveillance, you will be responsible for leading a team tasked with preventing financially motivated criminals from causing significant financial exposure to the firm. The team is tasked with vetting fraud detection output, and all aspects of responding to fraud incidents. Our environment is fast-paced and requires frequent changes in how we operate based on the latest criminal tactics. As the leader of this team, the candidate will have the opportunity to influence how we react to these changes and coach a team of highly motivated fraud analysts. You will also drive innovation and engage leadership stakeholders, learn from failures while celebrating success. You are committed to developing your own expertise and knowledge to ensure you bring the latest thinking to your role. You will be crucial to identify suspected frauds and assess the impacts of fraud incidents and accountable to meet Incident process and communication.

• Accountable to build capability for customer account Fraud and Fraud Surveillance (Money Movement, Financial Fraud), manage team and influence global leadership stakeholders.
• Assess Fraud analytics to identify fraud trends / patterns, investigate suspected fraud and assess impact and leadership communication. Review business transaction behavior to identify suspected frauds. Fraud incidents caused due to (not limited to):
  • Financial Transaction Fraud
  • Third party transfer
  • ACH, Wire transfer
  • Debit & Credit card Fraud
  • Account Takeover Fraud
  • Account Owner Fraud
• Liaise with detection and analytics teams to help build out data models needed for fraud analytics.
• Capacity planning, Talent Development and Building team to enable 24X7 fraud prevention.
• Ensure closure of action points from fraud Investigations and present the Incident summary, learnings, new controls and process improvements to the management.
• Ensure fraud policies, processes and systems are aligned with changing regulatory and business need.
• Enable capability to monitor and build appropriate alerting / reporting for emerging fraud attacks.
• Enable automation of fraud identification & incident closure processes.
• Obtaining and monitoring reports from Audit, Collections, Customer Service, Finance, Credit, Risk, and Customer Complaints to identify red flags/ early warning signals of fraud
• Enable conducting periodic reviews of key processes and systems to identify gaps in terms of fraud and operational risk, and suggest controls to address the same
• Conduct investigations of customer frauds, including Root Cause Analysis and suggest measures to strengthen existing processes and systems
• Ability to build incident/case summary and present to leadership stakeholders
• Work with the Detection team to build & deploy fraud rules in production; and, to review adequacy of controls to mitigate fraud at the design stage
• Accountable for the strategic build-out of the fraud incidents metrics on a regular basis and continuous improvement
• Give feedback to Design fraud risk dashboards, identify high-risk areas & parameters, and resolve the same with relevant teams.
• Influencing operational efficiencies, policies & procedures

• SME in setting up US Financial Surveillance capability, assessing financial frauds impacts
• Identify suspected Fraud from Login, Money movement, trading and business transactions.
• SME to detect Account Take Over, Identity theft and account owner frauds, identify Debit and credit card frauds, Third party money transfer frauds, Crypto currency fraud, suspicious financial activities
• You have very strong analytical, Critical thinking, communication and leadership skills
• Sound understanding of US Bank operations, financial operations, payments, money movement processes, and the fraud trends and controls.
• A total of 15 years of experience working in roles with responsibilities and a minimum of 5-7 years Fraud detection and Surveillance and additionally US Bank operations experience is preferred.
• Ability to communicate effectively with stakeholders and senior management, including Board Committee members, both verbally and in written presentations.
• Ability to balance risk, potential impact, resourcing, business drivers, and timelines
• Strong understanding of / ability to interpret regulatory requirements for financial services

• • Prior experience managing people preferred
• • Previous Risk/Supervisory/Compliance/Fraud/Anti-Money Laundering experience a plus
• • Detailed knowledge of brokerage and institutional operations
• Must have US Bank fraud operations expertise