Fraud Manager
Position Summary Responsible for fraud investigations and oversight of thework performed in the Fraud DepartmentServes as the Red Flags for ID TheftOfficer and carries out related duties as outlined in section 615(e) of theFair Credit Reporting Act (FCRA)Actively carries out the fraud awareness trainingin the bankCollaborates with appropriate business partners and local, stateand federal authorities to ensure fraudulent matters are identified timely andfraud losses are minimized or avoidedResponsible for tracking and timely communication on all fraud cases tothe BSA Department on all investigative matters which create the need for a SARto be filed within the regulatory timeframeThe Board of Directors appoints the Red Flagsfor ID Theft OfficerEssential Duties andResponsibilities (Other duties may be assigned.
) 1Oversees the Bank'sFraud Risk Management Program to detect, prevent, and deter fraud or potentialfraud that is an essential part of the safe and sound operations of the Bank2Analyzes anddecisions customer account activity via alerts generated through the Bank'santi-money laundering system3Maintains anawareness of the trends in fraudulent activity and reviews Bank procedures tomaintain a high level of loss avoidance and low level of risk across the bank'scustomer base4Provides an annual fraud, security and red flags for IDtheft reports to Board of Directors5Performs ongoing risk assessments to determine areasof heightened risk for possible fraud and adequacy of the Bank's controlenvironment6Performs strategic analysis of fraud trends,management control configurations, and provides subject matter expertise on industrybest practices to prevent fraud7Input and update all fraud and/or investigative casesinto the AML monitoring software so proper and timely Suspicious ActivityReports (SARs) may be submitted timely to the Bank Secrecy Act (BSA) Officer8Reviews and analyzes risk activity onalerted accounts to determine potential fraud related to items such as checks orACH items processed, credit or debit cards, kiting, new accounts or creditapplications to determine application and data validity, and makesrecommendations to banking office personnel to mitigate KM1 loss to the Bank and its customers inaccordance with established rules and Bank policies and procedures9Build, maintain and execute fraud awareness trainingfor all employees of the organizationTrainall new employees as part of the orientation process10Work with law enforcement, worthless check units, andMagistrate's Court as needed to identify fraudsters, combat fraud, and recoverlosses11Report to Branch Administration any fraud trends attributedto a specific branch location, branch employee, or branch process12Performs strategic analysis of fraudtrendsProvide subject matter expertiseon industry best practices to prevent fraud13Understands the digital delivery channel as it relatesto products and services offered by the Bank and the corresponding securitystrengths and weaknesses, including proficient knowledge and understanding ofcustomer authentication requirements14Analyzes customer account activity using availabletools to ensure the Bank maintains a high level of loss avoidance and a lowlevel of risk due to fraudulent activity within the Bank's customer base; assistsin the process of safeguarding Bank assets and minimize operating losses andexposure to loss through effective loss analysis and prevention procedures15Work closely with BSA Officer on possible accountrelationship closure to avoid continued loss; determines whether holds oraccount restrictions may need to be placed against accounts through analysis ofthe account relationship and the probability of loss to the Bank; assists inthe determination if a Suspicious Activity Report (SAR) should be filed withFinancial Crimes Enforcement Network (FinCEN)16Reviews and analyzes fraud reports,validating suspected items against established rules; identifies problems andpresents written solutions ensuring accuracy and validity of information; compiles data, and maintains necessary records andfiles to ensure efficient and consistent reporting of all suspiciousinvestigations; defines and documents business requirements, processes andmethodologies needed to develop and support fraud prevention systems17Gives input on fraud detection filters in varioussystems including Verafin and Intercept18Evaluates the adequacy and effectiveness of policies,procedures, processes and internal controls; reviews and analyzes findings todetermine level of risk; drafts corrective action plans and assists in managingchange to prevent/mitigate risks that directly impact operating losses19Assists in self-testing, independent third party andregulatory audits; makes necessary preparations for such audits or exams;assists in the coordination of responses to external auditors and regulatoryexaminers; ensures deficiencies identified from such audits and examinationsare corrected20Assures compliance with all Bank policies, proceduresand processes, and all applicable state and federal banking laws, rules andregulations related to fraud; adheres to Bank Secrecy Act (BSA)responsibilities that are specific to the position21Provides a positive role in the development and growthof assigned department staff through excellent communication skills, bothverbal and written, along with strong delegation skills to assure a highly cross-trainedstaff22Responds to inquiries or refers inquiries to theappropriate department or person, and exhibits the necessary follow-throughwith staff and co-workers23Conducts fraud and suspicious activity trainingpresentations and exercises with all Bank personnel, including materials presentedto employees during new hire orientation24Completes administrative tasks correctly and on time;supports the Bank's goals and values; and benefits the Bank through outsideactivitiesSecondary Duties The position of FraudManager performs duties specific to the position and other functions asassignedQualifications oBachelor's degree, or a minimum of 5-years related fraudinvestigation experience, or an equivalent combination of education andexperienceoAdvanced knowledge of regulations pertaining to suspiciouscustomer activity, including preparation and filing of SARs oAdvanced knowledge and ability to detect and identifyvarious white-collar crimes, general fraud, and money laundering schemes using variousfraud prevention controls and monitoring systemsoEffective oral and written communication skillsoAbility to speak effectively before groups ofemployees of organizationoAbility to compute basic to moderately complex mathcalculationsoBasic problem-solving and analytical skillsAbility to interpret a variety ofinstructions furnished in written, oral, diagram, or schedule formoProficiency in using personal computers and office products(e.
g.
, Word, Excel, Adobe)oEffective time management skills oAbility to deal with complex problems involving multiplefacets and variables in non-standardized situationsFIRST COMMUNITY BANK (SC) is an EEO employer - M/F/Vets/Disabled Recommended Skills Adobe Analytical Auditing Bank Secrecy Act Business Requirements Communication Estimated Salary: $20 to $28 per hour based on qualifications.
) 1Oversees the Bank'sFraud Risk Management Program to detect, prevent, and deter fraud or potentialfraud that is an essential part of the safe and sound operations of the Bank2Analyzes anddecisions customer account activity via alerts generated through the Bank'santi-money laundering system3Maintains anawareness of the trends in fraudulent activity and reviews Bank procedures tomaintain a high level of loss avoidance and low level of risk across the bank'scustomer base4Provides an annual fraud, security and red flags for IDtheft reports to Board of Directors5Performs ongoing risk assessments to determine areasof heightened risk for possible fraud and adequacy of the Bank's controlenvironment6Performs strategic analysis of fraud trends,management control configurations, and provides subject matter expertise on industrybest practices to prevent fraud7Input and update all fraud and/or investigative casesinto the AML monitoring software so proper and timely Suspicious ActivityReports (SARs) may be submitted timely to the Bank Secrecy Act (BSA) Officer8Reviews and analyzes risk activity onalerted accounts to determine potential fraud related to items such as checks orACH items processed, credit or debit cards, kiting, new accounts or creditapplications to determine application and data validity, and makesrecommendations to banking office personnel to mitigate KM1 loss to the Bank and its customers inaccordance with established rules and Bank policies and procedures9Build, maintain and execute fraud awareness trainingfor all employees of the organizationTrainall new employees as part of the orientation process10Work with law enforcement, worthless check units, andMagistrate's Court as needed to identify fraudsters, combat fraud, and recoverlosses11Report to Branch Administration any fraud trends attributedto a specific branch location, branch employee, or branch process12Performs strategic analysis of fraudtrendsProvide subject matter expertiseon industry best practices to prevent fraud13Understands the digital delivery channel as it relatesto products and services offered by the Bank and the corresponding securitystrengths and weaknesses, including proficient knowledge and understanding ofcustomer authentication requirements14Analyzes customer account activity using availabletools to ensure the Bank maintains a high level of loss avoidance and a lowlevel of risk due to fraudulent activity within the Bank's customer base; assistsin the process of safeguarding Bank assets and minimize operating losses andexposure to loss through effective loss analysis and prevention procedures15Work closely with BSA Officer on possible accountrelationship closure to avoid continued loss; determines whether holds oraccount restrictions may need to be placed against accounts through analysis ofthe account relationship and the probability of loss to the Bank; assists inthe determination if a Suspicious Activity Report (SAR) should be filed withFinancial Crimes Enforcement Network (FinCEN)16Reviews and analyzes fraud reports,validating suspected items against established rules; identifies problems andpresents written solutions ensuring accuracy and validity of information; compiles data, and maintains necessary records andfiles to ensure efficient and consistent reporting of all suspiciousinvestigations; defines and documents business requirements, processes andmethodologies needed to develop and support fraud prevention systems17Gives input on fraud detection filters in varioussystems including Verafin and Intercept18Evaluates the adequacy and effectiveness of policies,procedures, processes and internal controls; reviews and analyzes findings todetermine level of risk; drafts corrective action plans and assists in managingchange to prevent/mitigate risks that directly impact operating losses19Assists in self-testing, independent third party andregulatory audits; makes necessary preparations for such audits or exams;assists in the coordination of responses to external auditors and regulatoryexaminers; ensures deficiencies identified from such audits and examinationsare corrected20Assures compliance with all Bank policies, proceduresand processes, and all applicable state and federal banking laws, rules andregulations related to fraud; adheres to Bank Secrecy Act (BSA)responsibilities that are specific to the position21Provides a positive role in the development and growthof assigned department staff through excellent communication skills, bothverbal and written, along with strong delegation skills to assure a highly cross-trainedstaff22Responds to inquiries or refers inquiries to theappropriate department or person, and exhibits the necessary follow-throughwith staff and co-workers23Conducts fraud and suspicious activity trainingpresentations and exercises with all Bank personnel, including materials presentedto employees during new hire orientation24Completes administrative tasks correctly and on time;supports the Bank's goals and values; and benefits the Bank through outsideactivitiesSecondary Duties The position of FraudManager performs duties specific to the position and other functions asassignedQualifications oBachelor's degree, or a minimum of 5-years related fraudinvestigation experience, or an equivalent combination of education andexperienceoAdvanced knowledge of regulations pertaining to suspiciouscustomer activity, including preparation and filing of SARs oAdvanced knowledge and ability to detect and identifyvarious white-collar crimes, general fraud, and money laundering schemes using variousfraud prevention controls and monitoring systemsoEffective oral and written communication skillsoAbility to speak effectively before groups ofemployees of organizationoAbility to compute basic to moderately complex mathcalculationsoBasic problem-solving and analytical skillsAbility to interpret a variety ofinstructions furnished in written, oral, diagram, or schedule formoProficiency in using personal computers and office products(e.
g.
, Word, Excel, Adobe)oEffective time management skills oAbility to deal with complex problems involving multiplefacets and variables in non-standardized situationsFIRST COMMUNITY BANK (SC) is an EEO employer - M/F/Vets/Disabled Recommended Skills Adobe Analytical Auditing Bank Secrecy Act Business Requirements Communication Estimated Salary: $20 to $28 per hour based on qualifications.
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