Payment Fraud Manager

Job Details

Description

The Payments Fraud Manager plays a key role in supporting the bank’s fraud monitoring program, assisting with implementation and management of debit card fraud tools, analysis of and management of card fraud losses. This position is responsible for conducting quality control reviews and monitoring activities related to debit card fraud and instant payment fraud incidents. The Payments Fraud Manager role is responsible for effectively overseeing fraud detection, mitigation, and recovery strategies while ensuring compliance applicable regulations, staying abreast of industry developments and emerging fraud trends, and benchmarking bank performance against industry standards.

Essential Functions

• Research external fraud trends to proactively address potential fraud risks to the bank.
• Analyzes data and monitors key fraud metrics to optimize bank fraud losses.
• Demonstrates proficiency in fraud monitoring and case management.
• Monitor daily alerts from the bank’s EFT processor and potential unusual or suspicious activity.
• Monitoring customer reports, disputes, and other indicators of fraud patterns to communicate fraud prevention rule design requests to the bank’s EFT fraud provider.
• Actively monitors the banks custom fraud ruleset for performance and optimization.
• Participates in quarterly MasterCard Threat Scan fraud rule testing to ensure gaps in fraud performance are minimized.
• Identify and implement changes related to fraud monitoring systems, processes, and fraud strategies.
• Supervise department staff and outstanding card dispute workflows to ensure time-sensitive functions are meeting department standards and compliance requirements, escalate outstanding items as necessary.
• Monitor monthly debit card fraud losses.
• Understands faster payments and other electronic payments such as person to person and account to account payments and fraud risks associated with those platforms.
• Works with bank fraud tools to mitigate losses from faster payment initiatives.
• Maintain a working knowledge of the bank’s policies and procedures.
• Management of fraud case management with the bank’s EFT processor.
• Provide feedback to Director of Digital Banking for potential control weaknesses, policy or procedure enhancements and/or ongoing system management/modifications.
• Provide cross-training to staff on software and fraud processes.
• Provide assistance to bank staff with Fraud-related inquiries and research.
• Supports quarterly Visa and MasterCard reporting.
• Assures compliance with all Bank policies, procedures and processes, and all applicable banking laws, rules, and regulations that are specific to the position.
• Follows policies and procedures; completes administrative tasks correctly and on time, including mandatory Bank Regulatory and Mastercard Trainings.