What are the responsibilities and job description for the Fraud Manager position at Border Bank?
The Fraud Manager may be located at any Border Bank located in Coon Rapids, Thief River Falls, Roseau, Middle River, International Falls, Greenbush, Clearbrook, Baudette, and Badger, Minnesota or Fargo, North Dakota.
The Fraud Manager is responsible for developing, implementing, and overseeing the Bank's fraud prevention, detection, and investigation efforts. This role requires expertise in identifying fraud schemes, managing fraud-related risks, and ensuring compliance with regulatory requirements. The Fraud Manager will collaborate with internal teams, external partners, and law enforcement to safeguard the bank's assets and maintain customer trust.
Fraud Manager Accountabilities:
Fraud Prevention and Detection:
- Design, implement, and oversee the general fraud prevention program for the Bank.
- Implement and maintain the fraud detection and monitoring software along with the Anti-Money Laundering/Combatting the Financing of Terrorism (AML/CFT) Officer with a focus on general fraud risk allowing the AML/CFT Officer to focus on fraud related to the Bank Secrecy Act.
- Monitor transaction and account activity across multiple channels for fraud and suspicious activity patterns.
Fraud Investigation and Case Management:
- Lead investigations and suspected fraud cases, working with internal departments and staff to gather information.
- Manage end to end fraud case workflow, documentation, investigation, reporting and closure of cases.
- Collaborate with law enforcement and regulatory agencies if needed or requested.
- Refer any cases that result in a Suspicious Activity Report (SAR) to the AML/CTF Officer for review and filing.
Policy Develop and Risk Management:
- Develop and enforce fraud prevention policies, procedures, and best practices.
- Conduct regular fraud risk assessments and develop mitigation strategies for high-risk areas with a specific focus on Red Flags Identification policy, procedures, and risk assessment.
- Stay informed on new fraud schemes, industry trends, and regulatory items.
Data Analysis:
- Analyze fraud data and key risk indicators to identify trends and recommend fraud prevention measures.
- Prepare regular reports for Sr. Management on activity, rates, case outcomes, and losses.
- Track and measure effectiveness of program.
Collaboration and Cross Department Coordination:
- Work closely with other departments to develop integrated fraud detection solutions.
- Ensure new products and services are designed with adequate fraud prevention measures.
- Is a member of the Enterprise Risk Committee (ERM).
Training:
- Develop training programs for staff on fraud identification, detection tools, and best practices.
- Foster a collaborative, fraud aware culture across the Bank.
Fraud Manager Education and Experience:
- Bachelor's degree in a related field or completion of equivalent specialized training.
- 5 years of experience in fraud management, financial crimes, or training in a related position.
Border Bank Employee Benefits:
- Paid Time Off & Paid Holidays
- Childbirth Recovery Leave & Parental Leave
- Health, Dental, & Vision Insurance
- Flexible Spending Account HSA Employer Contribution
- 401(k) Employer Match
- Bank paid Life Insurance & Long-Term Disability
- Globe Life - Accidental Injury Insurance, Heart and Stroke Insurance, Cancer Insurance, Intensive Care Insurance
- Colonial Life - Hospital Indemnity Insurance, Critical Illness Insurance, Cancer Insurance, Accident Insurance, Life Insurance, Disability Insurance
- Employee Assistance Programs (EAP)
- Wellness Dollars
- Verizon Discount
- Border Bank Gear
- Education Assistance and more!
Applications will be accepted until the Fraud Manager position is filled.
Salary : $80,000 - $120,000
