What are the responsibilities and job description for the Fraud Product Lead 1LOD position at City National Bank?
FRAUD PRODUCT LEAD 1LOD
WHAT IS THE OPPORTUNITY?
The 1LOD Fraud Strategy and Analytics – Product Owner is responsible for the oversight of activities at an enterprise level for fraud risk management at CNB. Fraud Strategy work across all City National Bank, subsidiaries, and to develop, design and implement consistent controls combating fraud ensuring a consistent approach. Provide direction and oversight driving a high level of performance, a superior client experience and sustainable value creation for RBC shareholders. Lead the transformation of Fraud Managements capabilities and processes continuing best in class solutions. Fraud Strategy is accountable for being the primary point of contact for each business segment and for monitoring strategies to prevent, detect, and minimize fraud losses.As Fraud Product Owner this will involve identifying the risk trends, envisioning fraud remediation solution in-house and vendor based to help target the problem and working with Fraud SME, Tech experts and Business stakeholders to design the best in class fraud surveillance products to help mitigate the risk. This will also involve identifying the Target solution for managing the fraud risk effectively and iteratively delivering solutions to develop towards the target state. The Fraud Product Owner should be able to determine the key performance indicators to help define and manage progress and demonstrating progress against the key KPIs by building effective solution. As part of this role the individual will work closely with the cross functional team including technology, business, operations, investigation to design vision, develop requirement and deliver effective fraud prevention solution.
What you will do
- Develop, implement, and manage first line fraud product strategy and practice to ensure comprehensive coverage of internal and external fraud. Ensure adequacy of coverage for end-to-end processes that span multiple businesses.
- Understand upcoming threats and formulate fraud risk strategies and design and develop solution in partnership with technology organization to mitigate the risk
- Actively engage assigned units, subsidiary and affiliates to ensure that the fraud risk practice is balanced, comprehensive and a transparent reflection of CNB compared to risk appetite.
- Work directly with the leadership team to embed an understanding of the fraud risk profile and risk appetite into strategic decision making; challenge decision making that contradicts profile and risk appetite.
- Requirement Gathering and Analysis: Collaborate with stakeholders, including fraud analysists, risk managers and technology teams to gather requirements for fraud detection and prevention systems. Analyze and prioritize requirements based on business impact and feasibility
- Translate requirements into detailed specifications and design fraud prevention and detection solutions. Create a roadmap for system enhancements and new features considering both short term goals and long term vision
- Design the solution and build requirement for tool to support the reporting of fraud risk profiles, analysis and exposures to the Executives, Senior Management and RBC on a regular basis. Reporting should include existing and emerging areas of risk, implications for operational risk appetite, and the ability of the risk management and control infrastructure to support business activities.
- Quality Assurance and Testing: Collaborate with the quality assurance teams to define test plans and ensure the effectiveness of fraud detection algorithms and systems. Conduct user acceptance testing to validate the functionality and performance of the developed solutions
- Identify requirements for deep dive, initiate or lead deep dive assessments in the bank, as required.
- Participate in committees or associated governance/review activities on key business initiatives ensuring that existing and emerging fraud risks for new products, processes and transformational initiatives are identified.
Must-Have*
- Bachelor's Degree or equivalent
- Minimum 8 years in a combination of fraud risk management and designing fraud strategy to mitigate the risk
- Minimum 6 years banking/financial services and/or technology industry experience.
- Minimum 5 years of experience in designing the fraud prevention products with Financial institutes or tech industry
Skills and Knowledge
- Expert knowledge of Fraud Risk Management frameworks, policies and practices
- Strong leadership skills
- Proven business knowledge within the assigned Platform
- Strategic mindset, with excellent knowledge and understanding of banking/financial services
- Highly developed ability for conceptual thinking
- Excellent communication and presentation skills
- Well developed impact and influence skills
- Proven track record of building strong relationships across business functions
- Law enforcement or investigative background
- Experience in cybercrimes, financial fraud investigations, trading or sales fraud investigations
Compensation
Starting base salary: $111,408 - $189,738 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
*To be considered for this position you must meet at least these basic qualifications
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Benefits and Perks
At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.'
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.'
ABOUT CITY NATIONAL
We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies.
Salary : $111,408 - $189,738
