Fort Bragg Federal Credit Union · 1 day ago
VP Compliance & Fraud Risk
Fayetteville, NC
Full-time
Onsite
Mid, Senior Level
5+ years expFort Bragg Federal Credit Union is seeking a VP of Compliance and Fraud Risk who will be responsible for developing and implementing comprehensive compliance and fraud risk management strategies. This pivotal role involves safeguarding the financial interests of members by identifying, assessing, and mitigating fraud and compliance risks across all credit union operations.
BankingFinanceFinancial ServicesInsuranceNon Profit
Responsibilities
Develop and execute the credit union's compliance and fraud risk management strategy, aligning it with the overall risk management framework and organizational goals
Develop and maintain robust fraud prevention and detection policies, procedures, and controls in compliance with industry regulations and best practices
Lead a team of fraud analysts and support specialists, providing direction, coaching, and mentorship to ensure effective fraud prevention and response
Oversee the implementation of advanced fraud detection tools and technologies. Lead investigations into complex and high-profile fraud cases, coordinating with law enforcement agencies as necessary
Prepare regular and ad-hoc reports for executive management and regulatory authorities, summarizing compliance issues and deficiencies, fraud incidents, losses, trends, and mitigation efforts
Develop and deliver fraud awareness and prevention training programs for employees and members to enhance vigilance and awareness
Disseminates information, reviews disclosures, answers questions, and be a subject matter expert for the credit union on all compliance-related issues
Assesses risk potential of current procedures and assists with instituting new procedures that minimize loss exposure. Oversees the implementation of regulatory changes
Ensure that all fraud prevention and detection activities are in compliance with industry regulations, laws, and credit union policies
Oversee relationships with third-party vendors providing compliance and fraud detection services, ensuring their effectiveness and compliance with contractual agreements
Leads all fraud and non-fraud dispute research and investigations, across all products and channels (e.g., ACH, ATM, branch, call center, card, check, digital banking platform, P2P, wire)
Coordinates with card vendor to identify debit card fraud trends, oversee process to write new card fraud rules, test rules, and execute rules to prevent debit card fraud while maintaining a low false positive ratio
Serves as the ID Theft/Red Flag Administrator
Builds and optimizes rules and metrics used in fraud detection software to identify suspicious member transactions
Oversee the monitoring and analysis of various credit union reports for risk to include but not limited to: identity theft, check fraud, anti-money laundering, debit card transactions, and credit card transactions
Provide input regarding any compliance/risk management concerns relevant to proposed and current products and services offered by the credit union
Monitor, communicate and report developing trends and changes in regulatory compliance, risk management, and fraud trends
Reviews and updates policies and procedures for compliance with regulations as well as safeguarding all credit union assets
Collaborate with other departments to ensure compliance risk assessments are integrated into business strategies
Qualification
Required
Bachelor's degree in finance, risk management, business, or a related field or a combination of equivalent experience and education
In-depth knowledge of fraud detection technologies, industry trends, and regulatory requirements
Strong analytical and problem-solving skills
Exceptional leadership and team management abilities
Excellent communication and interpersonal skills
Detail-oriented with a commitment to accuracy and data integrity
Ability to handle sensitive and confidential information with discretion
Previous banking or credit union experience, specifically in a compliance or risk management capacity
5+ years of progressive experience in compliance and fraud risk management, with at least 2 years in a leadership role
Knowledgeable of credit union's strategic goals, including member and product growth, and able to balance this with fraud mitigation and compliance
Ability to demonstrate experience and aptitude in leading, motivating and managing team members
Ability to collaborate with other departments and third-party vendors
Ability to demonstrate planning, organization, strategic, and drive-for-results
Ability to demonstrate excellent oral and written communication skills and strong interpersonal skills
Knowledge of fraud-related laws and regulations
Knowledge of core banking systems, card processors, and fraud detection analytics software
Skilled in strong analytical, statistical, problem-solving, and database management skills
Ability to lead in an action oriented, results-driven approach
Preferred
CFE, CFCS, or CAFP certification highly desired
Benefits
Excellent health benefits
401 (k) plan with company match
Discretionary profit-sharing contributions
Relocation assistance
Company
Fort Bragg Federal Credit Union
Fort Bragg Federal Credit Union's field of membership is open to the following: • Persons who live, worship, work (or regularly conduct business in) or attend school and other legal entities in Cumberland, Harnett, Hoke, Lee, Moore, Robeson, or Scotland County, NC.
51-200 employees
Funding
Current Stage
Growth StageLeadership Team
John Tyson
Executive Vice President / CFO
R Neal Spivey
Chief Lending Officer
Recent News
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