Financial Crimes Fraud Manager

Summary: The Fraud Manager is responsible for leading and overseeing the organization's fraud prevention, detection, and investigation activities. This includes developing and implementing fraud risk management strategies, managing a team of fraud specialists, and collaborating with other departments to minimize fraud losses and protect the organization's assets.

Essential Duties and Responsibilities:

Leadership & Strategy:

• Develop and implement a comprehensive fraud risk management framework.
• Establish fraud detection and prevention policies, procedures, and controls.
• Set departmental goals and objectives aligned with the overall organizational strategy.
• Stay abreast of industry trends, emerging fraud schemes, and regulatory changes.
• Oversee the selection, implementation, and optimization of fraud detection tools and software.
• Manage vendor relationships related to fraud prevention and detection (e.g., AI Oasis, Fiserv).

Team Management:

• Supervise and mentor a team of fraud specialists.
• Provide guidance, training, and performance feedback to team members.
• Delegate tasks and responsibilities effectively.
• Foster a collaborative and high-performing team environment.

Fraud Operations:

• Oversee daily fraud detection and investigation activities.
• Analyze fraud trends and patterns to identify vulnerabilities and develop mitigation strategies.
• Ensure timely and thorough investigation of suspicious activities.
• Collaborate with internal and external stakeholders (e.g., law enforcement, other financial institutions) as needed.
• Prepare and present reports on fraud losses, trends, and key performance indicators to senior management.

Collaboration & Training:

• Work closely with other departments (e.g., Compliance, Operations, IT) to integrate fraud risk management into their processes.
• Develop and deliver fraud awareness training programs for employees and members.
• Contribute to the development and enhancement of internal controls to mitigate fraud risks.

Compliance & Audit:

• Ensure compliance with relevant regulations and industry standards (e.g., Regulation E).
• Assist with internal and external audits related to fraud prevention and detection.

Supervisory Responsibilities:

Directly supervises 2-4 employees in the Department. Manages and carries out supervisory responsibilities in accordance with the Credit Union’s policies, procedures and applicable laws and regulations. Responsibilities include interviewing, hiring, and training employees; planning, assigning, directing and evaluating work; conducting performance appraisals; rewarding and disciplining employees; addressing complaints and resolving problems. Shares responsibility for excellence in customer/member service through staffing, training, coaching, and leading by example.

• Bachelor's degree in finance, accounting, criminal justice, or a related field.
• 5 years of experience in fraud prevention, detection, and investigation, preferably in the financial services industry.
• Proven experience in leading and managing a team.
• Relevant certifications (e.g., Certified Fraud Examiner (CFE)) are highly desirable.