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Frontwave Credit Union · 1 month ago

Fraud Manager (Onsite)

Oceanside, CA

Full-time

Onsite

Mid, Senior Level

$93K/yr - $139K/yr

5+ years exp

Frontwave Credit Union is a member-owned not-for-profit financial institution serving multiple counties in California. The Fraud Manager oversees the fraud operations, managing prevention, detection, investigation, and recovery of fraud across all channels while providing strategic leadership for the fraud program.

CreditFinanceFinancial Services

Responsibilities

Oversees and directs fraud prevention, mitigation, and investigative operations, including the identification of high-risk transactions and emerging threats, analysis and resolution of suspicious activity, execution of thorough investigations, implementation of effective controls, and facilitation of fund recovery

Manages the Fraud team, implements strategies to mitigate fraudulent activity, and ensures adherence to financial regulatory requirements

Maintains collaborative business partnerships with all business units to understand and improve core business activities, products, and transactions

Serves as a trusted advisor throughout the organization by supporting Frontwave’s fraud prevention initiatives and advancing key business objectives

Prepares, reviews, and files SARs promptly with the required agencies. Maintains processes and reporting to ensure regulatory compliance for SAR review and filing

Maintains a current and in-depth knowledge of BSA, AML, OFAC, and all related regulations

Provides effective and considerate feedback to investigators while seeking to understand how to best assist operations in building and maintaining high quality investigations

Serves as a subject matter expert on fraud and optimizes Frontwave’s approach to these areas across the organization

Delivers valuable insights and fraud mitigation recommendations in support of business goals

Advises on day-to-day fraud matters and serves as an expert resource for internal stakeholders, and provides risk-based advice, drives operational efficiency, manages, and thinks cross functionally

Evaluates data to determine efficiencies via technologies, tools, and/or process improvements

Works with internal and external auditors, consultants, and regulatory examiners in connection with their review of the fraud program

Ensures related Policies, Procedures, and practices are examined for compliance with law and regulation and are updated, as necessary

Serves as the business owner for all fraud-related systems, providing continual oversight and conducting risk assessments to ensure alignment with Frontwaves' fraud management strategy and risk tolerance

Builds and maintains fraud related systems such as Verafin and BioCatch to ensure system optimization, rule management, and configuration

Additional duties, as requested or assigned

Qualification

Fraud prevention expertiseBSA/AML/OFAC knowledgeLeadership experienceFraud-related systems managementAnalytical skillsCommunication skillsProblem-solving skillsTeam collaboration

Required

Undergraduate degree or international equivalent

Minimum of 5 years banking experience, with at least 3 years of leadership experience with proven expertise in direct fraud mitigation

Demonstrated experience with building or maintaining fraud related systems

Strong process and problem-solving skills at both strategic and functional levels

Expertise in direct fraud prevention, BSA/OFAC regulations, and a broad understanding of concepts, principles, and procedures relevant to financial institutions

Highly organized and able to multi-task and manage multiple projects and competing priorities without sacrificing accuracy or efficiency

Sufficient knowledge to resolve and answer complex fraud questions

Proficient at finding inconsistencies, detecting patterns, and communicating concerns

Excellent communication and diplomacy skills, both verbal and written

Collaborative and team-based approach

Strong decision making and investigative skills, analytical skills as well as problem-solving, and critical-thinking skills

Understanding of how fraud and business units collectively integrate within the AML/BSA/OFAC functions, with the objective to provide oversight and guidance to complex issues that may require analysis of alternative solutions, while considering the business impact to all areas involved

Adheres to all relevant regulations, laws, and company policies, especially those related to the Bank Secrecy Act, Anti-Money Laundering, and Suspicious Activity Report filing

Monitors transactions for suspicious activities, accurately documents and reports as required by law and by Policy

Ensures compliance through ongoing training and collaboration with the compliance team

Maintains thorough records and assists in audits to address any deficiencies