What are the responsibilities and job description for the Fraud Operations Manager position at First Internet Bank?
About The Position
As the Fraud Operations Manager, you will lead the coordination of the day-to-day implementation and administration of all aspects of the Fraud Operations Program. This includes leading a team responsible for investigating and resolving fraud cases, disputes, and monitoring compliance with all Payments Operations laws and regulations, including NACHA and federal/FinCEN/US Treasury Bank Secrecy Act (BSA) regulations, the USA PATRIOT Act, Anti-Money Laundering (AML), and OFAC.
You will also responsible for working in a cross-functional capacity to detect, prevent, investigate, and recover financial fraud, protecting the assets of the Bank and its customers, as well as the training and development of staff regarding loss detection and prevention measures. In addition, you will also perform and oversee detailed monitoring of account activity and client behavior analyses, while ensuring compliance with regulatory and operational policies including but not limited to Regulation E, CC, GG, V, the FCRA, FACT Act, Bank Secrecy Act, NACHA, Visa Operating Rules, and the Bank’s policies. You will also be responsible for, in close collaboration with the Senior Vice President – Chief Risk Officer, assessing and implementing policies, procedures, and technology to optimize fraud prevention.
What You Will Do
We’re not just another bank and we’re not looking for just another employee. Since 1999, First Internet Bank has been dedicated to finding a better way to bank and doing things that have never been done before. Yes, we really were the first state-charted, FDIC insured bank to operate entirely online and we have been leading the way ever since.
We seek the game changers, the innovators…those who challenge the status quo because change really is the only constant. Ready to join a team of imaginative, driven individuals like you? It’s your career, you deserve to imagine more. Keep reading, we think you will like you what see.
Why Join Us?
Our success has been driven, in part, by four core competencies – customer focus, teamwork, adaptability and initiative. Collectively they define our actions and are at the heart of all we do. As a result, we’ve been fortunate to have been named numerous times as an Indianapolis Star Top Workplace and one of the Best Banks to Work For! Headquartered in downtown Fishers, our newly-built, state-of-the-art 175,000 square foot facility headquarters was designed with our team in mind and features an 18,000 square foot open air deck named “The Backyard”, with fire pits, covered pergola, waterfall and foliage to create a momentary escape from the work day. Beyond that, the onsite fitness center with the latest equipment and ergonomically-designed workstations help promote health and wellness. Have we mentioned free snacks, soft drinks and beer available on tap? Want more? How about unlimited volunteer time off and social events to bring us all together to have some more. Why just imagine more, take the “first” step and apply today.
Our benefits package includes the following and so much more:
If you are a California resident, you may be entitled to certain rights regarding your personal information. Additional information about our data collection practices and location specific notices is available on our privacy policy. Click
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c). Click
As the Fraud Operations Manager, you will lead the coordination of the day-to-day implementation and administration of all aspects of the Fraud Operations Program. This includes leading a team responsible for investigating and resolving fraud cases, disputes, and monitoring compliance with all Payments Operations laws and regulations, including NACHA and federal/FinCEN/US Treasury Bank Secrecy Act (BSA) regulations, the USA PATRIOT Act, Anti-Money Laundering (AML), and OFAC.
You will also responsible for working in a cross-functional capacity to detect, prevent, investigate, and recover financial fraud, protecting the assets of the Bank and its customers, as well as the training and development of staff regarding loss detection and prevention measures. In addition, you will also perform and oversee detailed monitoring of account activity and client behavior analyses, while ensuring compliance with regulatory and operational policies including but not limited to Regulation E, CC, GG, V, the FCRA, FACT Act, Bank Secrecy Act, NACHA, Visa Operating Rules, and the Bank’s policies. You will also be responsible for, in close collaboration with the Senior Vice President – Chief Risk Officer, assessing and implementing policies, procedures, and technology to optimize fraud prevention.
What You Will Do
- Implement fraud prevention strategies, policies, and procedures to mitigate risks associated with fraud.
- Apply industry-leading fraud prevention practices and technology to build robust fraud prevention processes.
- Oversee the analysis and monitoring of daily reports/alerts generated to detect fraudulent account activity; determine the appropriate action based on the analysis according to policies and procedures.
- Manage alerts and cases according to procedures to ensure there is accurate and detailed documentation for adherence to Suspicious Activity Reporting (SAR) procedures. Ensure investigations and resolutions comply with applicable laws, Bank policy, and industry leading practices to reduce the Bank's losses and financial crimes exposure.
- Continuously review and provide input on the ongoing tuning of alert thresholds and model configuration in the customer onboarding and transactional monitoring systems to ensure alerts are appropriately set and identity theft and fraudulent activity as expected; maintain and update documentation and justification of alert thresholds in accordance with procedures.
- Analyze fraud-related data, metrics, and reports to identify areas for improvement; Track performance of the program and provide regular updates to senior management.
- Collaborate with internal stakeholders to provide training and educational programs on fraud prevention, detection, and resolution to enhance awareness and knowledge across the organization.
- Develop and maintain relationships with external industry partners, law enforcement agencies, and professional networks to stay informed about new fraud techniques, threats, and collaborative opportunities.
- Obtain forensic evidence for investigative purposes when reviewing fraud detection reports or investigating cases by using internal and external resources.
- Conduct root cause analysis on fraud cases to identify emerging fraud trends and provide recommendations for proper response to threats, taking into consideration client impact.
- Identify improvement opportunities and provide recommendations to modify detection techniques without negatively affecting the client experience or fraud exposure.
- Perform other duties as assigned.
- Five or more years of dedicated fraud detection/investigation experience at a financial institution and/or financial services business.
- Experience in driving fraud prevention strategies, developing policies, and implementing payment fraud prevention technologies.
- Proficiency in using fraud detection and prevention tools, as well as data analysis software.
- Excellent critical thinking and problem-solving skills.
- Excellent communication and interpersonal skills to effectively collaborate with cross-functional teams, senior management, and external stakeholders.
- Ability to work in a fast-paced environment with professionalism, courtesy and tact.
- Excellent interpersonal, verbal and written communication skills.
- Fraud and payments certifications; CFE, FPP, AFPP credentials or equivalent are preferred.
- Professional office setting.
- Primarily sedentary position requiring long periods of time working at a computer.
- Must be able to move throughout the office and buildings to obtain or relay information.
- Must be able to perform the essential functions of the position with or without reasonable accommodation.
We’re not just another bank and we’re not looking for just another employee. Since 1999, First Internet Bank has been dedicated to finding a better way to bank and doing things that have never been done before. Yes, we really were the first state-charted, FDIC insured bank to operate entirely online and we have been leading the way ever since.
We seek the game changers, the innovators…those who challenge the status quo because change really is the only constant. Ready to join a team of imaginative, driven individuals like you? It’s your career, you deserve to imagine more. Keep reading, we think you will like you what see.
Why Join Us?
Our success has been driven, in part, by four core competencies – customer focus, teamwork, adaptability and initiative. Collectively they define our actions and are at the heart of all we do. As a result, we’ve been fortunate to have been named numerous times as an Indianapolis Star Top Workplace and one of the Best Banks to Work For! Headquartered in downtown Fishers, our newly-built, state-of-the-art 175,000 square foot facility headquarters was designed with our team in mind and features an 18,000 square foot open air deck named “The Backyard”, with fire pits, covered pergola, waterfall and foliage to create a momentary escape from the work day. Beyond that, the onsite fitness center with the latest equipment and ergonomically-designed workstations help promote health and wellness. Have we mentioned free snacks, soft drinks and beer available on tap? Want more? How about unlimited volunteer time off and social events to bring us all together to have some more. Why just imagine more, take the “first” step and apply today.
Our benefits package includes the following and so much more:
- Medical Dental, Vision Insurance
- 401(k) Retirement Plan with Generous Match
- Professional Development Reimbursement
- 3 Weeks Paid Vacation Plus Paid Holidays
- Paid Volunteer Time
- Business Apparel Allowance
If you are a California resident, you may be entitled to certain rights regarding your personal information. Additional information about our data collection practices and location specific notices is available on our privacy policy. Click
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c). Click
