Director Fraud

Brief Description

Join Our Team

For 70 years, Teachers Federal Credit Union has been committed to guiding members toward building a strong financial foundation today for a better tomorrow. Named one of America's Best-In-State Credit Unions by Forbes Magazine in 2022, Teachers has grown into one of the leading credit unions in the United States. As we broaden our national reach, we will continue to ensure that Teachers is a Best Place to Bank and a Best Place to Work. Teachers offers a variety of exciting career opportunities ranging from part-time and full-time staffers to executive leadership roles.

Summary

The Director Fraud is responsible for oversight for the Credit Unions fraud detection and Investigation team that performs end-to-end investigations of fraud, including, alerts, cases, and regulatory reporting of fraud related financial crimes activities throughout the enterprise.

Qualifications & Education

• Bachelor’s Degree
• Minimum six years leading or influencing people required
• Minimum six years’ experience in risk management, financial crimes compliance, with focus on fraud prevention, detection, investigations, building robust fraud programs, tracking and reporting of fraud losses to all levels of management, including regulatory reporting required
• Certified Fraud Examiner (CFE) required
• Demonstrated experience with successfully building and leading a fraud detection and investigations team
• Excellent written and verbal communications skills, attention to detail and strong time management skills
• Strong understanding of various fraud types (e.g., identity theft, account takeover, payment fraud) and the tools/methods used to perpetrate them
• Experience with fraud detection software, data analytics tools, and risk assessment methodologies
• Developed investigative skills - inquiry and analysis, data visualization, and interviewing
• Excellent interpersonal skills and ability to interact with branch and business personnel in a mature and professional manner and apply feedback on work product from supervisor(s)
• Demonstrate a thorough understanding of fraud investigations processes and tools, and Suspicious Activity Reporting regulatory requirements
• Expert-level understanding of laws related to fraud investigations, Breach of Warranty and Hold Harmless process, claims management, and chargeback rules, and ID Theft – Red Flags Rule requirements
• Strong leadership skills: ability to direct staff and workflows in accordance with credit union standards and practices
• Strong sense of urgency and accountability; ability to execute in a high -pressure and time-sensitive environment
• Experience leading a team within detection
• Strong bank regulatory knowledge including Reg E, Reg Z, Reg CC, FACTA & KYC.
• Demonstrated ability to rapidly absorb and synthesize data to form an accurate understanding of context and issues and make strategic and tactical recommendations to business partners
• Demonstrated ability to identify complex business challenges and manage effective solutions
  
  
  

Job Duties

• Develop and implement effective, sustainable and repeatable fraud detection and prevention strategies to ultimately safeguard the financial interests of the credit union and its members
• Lead a team of fraud investigators, coordinate with various departments, and utilize advanced tools and technologies to identify and mitigate potentially fraudulent activities across multiple channels
• Analyze fraud trends and patterns to continuously improve overarching fraud prevention and detection strategies
• Conduct or manage risk assessment engagements to identify potential vulnerabilities through all channels
• Oversee the creation and review of fraudulent cases and resolve problems or troubleshoot issues utilizing systems or tools
• Provide SME insight into process fraud detection queues and user authentication services
• Protect the Credit Union and its Members by minimizing fraud loss, risk exposure and by providing efficient customer service both to internal and external customers
• Develop team that monitors account activity and places outbound calls and/or accepts inbound calls when appropriate
• Remain up-to-date with industry trends and changes in fraud tactics
• Leads Fraud Management meetings, prepares and presents regular reports on fraud trends, incidents, and mitigation efforts to senior management
• Oversee investigations into suspected fraudulent activities, collaborating with internal teams, law enforcement, and external partners as necessary
• Analyze data from various sources to identify trends, patterns, and potential risks associated with fraud
• Provide strategic direction and oversight while supervising, mentoring, and guiding a team of fraud analysts and investigators, ensuring high performance, growth, and collaboration within the team
• Collaborate with other departments to develop a holistic approach to fraud prevention and detection
• Develop and implement fraud awareness education, prevention, best practices, detection and response programs by method of formal training and through various platforms.
• Create, defines, implements, or advises on relevant policies, procedures and practices that facilitate an effective fraud managed business environment around all services, products, and processes.
• Participates as a member of outside organizations and associations that focus on fraud issues and topics maintaining awareness of trends and threats.
• *Performs other duties as needed upon request by immediate supervisor
• *Performs duties inherent in the role of a Director
  
  
  

Benefits Of Joining The Teachers Team

We provide a competitive compensation and benefits package that includes, but is not limited to:

• Paid time off for vacation, personal days, and holidays
• Fully-funded pension plan
• 401(k) company contribution
• Teachers pays 100% Premium Coverage for Vision & Dental Care
• Tuition reimbursement is offered to full-time employees
• Exclusive employee discount of 0.96% APR on credit card loans and a 1.00% APR on all other loans through Teachers
  
  
  

The good faith range for this position is $131,000 - $165,000 annually. This range is an estimate, based on potential employee qualifications and operational needs. The salary may vary above and below the stated amounts, as permitted by applicable law.

All candidates will be subject to a background check, credit check, and drug test to determine employment eligibility.

To learn more about Teachers and to view a full list of our job opportunities please visit https://www.teachersfcu.org/about/careers

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