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Company

Blue Ridge Bank · 17 hours ago

Director of Fraud Operations and Investigations

United States

Full-time

Remote

Lead/Staff, Director/Executive

15+ years exp

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BankingBookkeeping and Payroll

Comp. & Benefits

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Responsibilities

Develop and implement effective, sustainable and repeatable fraud detection and prevention strategies to ultimately safeguard the financial interests of the bank and its customers.

Responsible for all GL accounts used to track fraud losses and recoveries, working directly with business line leaders and financial accounting to be the SME for tracking and reporting fraud trends, losses, recoveries, to all levels of management.

Works with financial accounting to determine an appropriate fraud loss annual budget based on internal and external trends, ensuring the Bank has mitigating controls in place to ensure budget is not exceeded.

Lead a team of fraud investigators, coordinate with various departments, and utilize advanced tools and technologies to identify and mitigate potentially fraudulent activities across multiple channels.

Analyze fraud trends and patterns to continuously improve overarching fraud prevention and detection strategies.

Conduct or manage risk assessment engagements to identify potential vulnerabilities through all channels.

Review account activities, taking appropriate measures to minimize risk and loss, while complying with card rules and banking federal regulations.

Oversee the creation and review of fraudulent cases and resolve problems or troubleshoot issues related to card transactions utilizing systems or tools.

Oversee real-time monitoring of transactions and account activities to detect suspicious patterns or anomalies promptly and mitigate fraud and financial risks.

Provide SME insight into process fraud detection queues and user authentication services.

Protect the bank and its customers by minimizing fraud loss, risk exposure and by providing efficient customer service both to internal and external customers.

Develop team that monitors account activity and places outbound calls and/or accepts inbound calls when appropriate.

Remain up-to-date with industry trends and changes in fraud tactics

Leads Fraud Management Committee, prepares and presents regular reports on fraud trends, incidents, and mitigation efforts to senior management, relevant committees, and Board

Oversee investigations into suspected fraudulent activities, collaborating with internal teams, law enforcement, and external partners as necessary.

Stay abreast of technological advancements in fraud prevention tools and techniques, implementing relevant solutions to enhance fraud detection capabilities.

Analyze data from various sources to identify trends, patterns, and potential risks associated with fraud.

Provide strategic direction and oversight while supervising, mentoring, and guiding a team of fraud analysts and investigators, ensuring high performance, growth, and collaboration within the team

Collaborate with other departments to develop a holistic approach to fraud prevention and detection, providing internal and external customer training

Ensure that all fraud prevention activities comply with relevant laws, regulations, and industry best practices.

Identify areas for process enhancement and recommend changes to streamline fraud prevention and detection procedures and maximize efficiency

Provides solutions and support for compromise/recovery efforts, process recommendations, and trends.

Qualification

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Risk ManagementFraud OperationsFinancial Crimes ComplianceFraud Prevention ProgramsFraud Detection SoftwareData Analytics ToolsCertified Fraud Examiner (CFE)Certified Anti-Money Laundering Specialist (CAMS)Fraud InvestigationsRegulatory ReportingFraud TypologiesProcess Improvement

Required

Minimum 15 years’ experience in risk management, financial crimes compliance, with focus on fraud operations, prevention, detection, investigations, building robust fraud programs, tracking and reporting of fraud losses to all levels of management, including the Board, and regulatory reporting.

Demonstrated experience with successfully building and leading a fraud prevention and detection investigations team.

Demonstrated experience being the responsible individual for all GL accounts related to fraud losses and recoveries for effectively managing the Bank’s fraud budget.

Excellent written and verbal communications skills, attention to detail and strong time management skills.

Strong understanding of various fraud types (e.g., identity theft, account takeover, payment fraud) and the tools/methods used to perpetrate them.

Experience with fraud detection software, data analytics tools, and risk assessment methodologies.

Knowledge of the regulations which govern financial institutions.

Knowledge of federal, state, and local policies, laws, and regulations pertaining to investigating fraud.

Proactively finds opportunities to improve operational effectiveness.

Excellent judgment, initiative, and adherence to deadline.

Developed investigative skills - inquiry and analysis, data visualization, interviewing, testing, organization, and presentation (both written and verbal).

Excellent interpersonal skills and ability to interact with branch and business unit personnel in a mature and professional manner and apply feedback on work product from supervisor(s).

Highly responsive, independent, critical thinker.

Demonstrate a thorough understanding of fraud investigations processes and tools, and Suspicious Activity Reporting regulatory requirements.

Proven experience working collaboratively and effectively with the ability to work with multiple stakeholders and internal teams.

Expert-level understanding of laws related to fraud investigations, Breach of Warranty and Hold Harmless process, claims management, and chargeback rules, and ID Theft – Red Flags Rule requirements.

Strong understanding of fraud typologies in financial institutions.

Strong leadership skills: ability to direct staff and workflows in accordance with bank standards and practices.

Strong sense of urgency and accountability; ability to execute in a high-pressure and time-sensitive environment.

Experience leading a team within detection Strong bank regulatory knowledge including Reg E, Reg Z, Reg CC, UDAAP, KYC, and FACTA.

Demonstrated ability to rapidly absorb and synthesize data to form an accurate understanding of context and issues and make strategic and tactical recommendations to business partners.

Demonstrated ability to identify complex business challenges and manage effective solutions.

Willingness to travel within the Blue Ridge footprint of Virginia and North Carolina.

Ability to work all branch hours.

Ability to work within a team environment.

Ability to manage multiple priorities and tasks with the skills to adapt to changes in a fast-paced environment.

Capable of supporting quick changing priorities while maintaining oversight of established priorities.

Continuous seeker of process improvements and efficiency gains.

Ability to communicate efficiently and effectively with all levels of employees.

Must be able to use good judgement and identify situations that require internal and/or external escalation, including the ability to communicate with law enforcement at all levels.

Possesses qualities as a self-starter and independent worker.

Preferred

Certified Fraud Examiner (CFE), Certified Anti-Money Laundering Specialist (CAMS), and/or Certified AML and Fraud Professional (CAFP) certification preferred or willingness to obtain within a specified time.