Fraud Prevention Manager

Overview

This role is responsible for combining the disparate fraud-prevention efforts in the company into a cohesive fraud prevention program. You will be responsible to identify all entry points for fraudulent transactions into the company environment, analyzing the extent of the fraud, and recommending prevention/remediation efforts. You will manage and oversee the fraud policies and procedures for online and phone transactions and payment processing. In this role you will work to protect the company from fraud losses while ensuring the best possible customer experience in the process. This will include driving fraud mitigation strategies and best practices, tracking and monitoring data for high-risk activity, limiting the volume of transactions impacted due to fraud decisions and the level of false positives. The scope of responsibility will include our full ecosystem. You will be responsible for defining and implementing digital fraud analytics and operational priorities; and for propagating fraud-prevention strategies throughout the organization, including software development and payment processing. This person will assume the role of subject matter expert for e-commerce fraud-related topics.

Required Skills:

• Prior work experience working in technical and financial services environments
• Working knowledge of financial institution fraud schemes (i.e. identity theft, elder financial exploitation, vendor fraud, etc.)
• Ability to conduct research by leveraging multiple internal and external systems
• Experience with fraud detection Behavior Analytics tool highly preferred.
• Certified Fraud Examiner (CFE), or equivalent professional certification, preferred
• Prior work experience conducting financial fraud investigations, analysis of suspicious financial transactions or banking/investment operations strongly preferred
• Solid analytical and organization skills
• Good communications skills and ability to communicate in a clear and concise professional manner, tailored to the appropriate audience; including both verbal and written communications.
• Ability to lead and work collaboratively within a business unit team and have strong influencing skills.
• Must be a self-starter and keen to explore new solutions

Job Responsibilities:

• Own fraud analytics, data oversight and reporting, including event response
• Collaborate with data analytics colleagues in other departments to leverage fraud data modeling and analytics to ensure effectiveness of our decision engine and third party-tools, remain informed on the latest fraud tactics and sophistication, mitigate fraudulent activities, lower review rates and false cancels, manage customer impact, and adapt to meet changing business needs
• Identify decision engine gaps and areas for improvement; analyzing data to identify the root cause of issues as they arise
• Collaborate with departments across the company to reduce fraud and chargebacks
• Work with cross-functional teams to develop reporting needed to assess the performance trends of fraud in the organization in order to ensure effectiveness, identify areas of opportunity and share actionable insights. Ensure appropriateness, accuracy, and timeliness of reporting.
• Identify data sources and data gaps, while working to define solutions to capture these sources of data most effectively and accurately
• Drive recommendations and best practices for fraud mitigation rules and tactics, custom by brand and product.
• Develop strategies to improve chargeback analytics and response functions.
• Manage the day-to-day relationships with third-party fraud prevention tool/technology vendors
• Identify operational gaps and areas for improvement; analyzing operations data to identify the root cause of issues as they arise.
• Review end-to-end process, deliver automation, reduce overhead and manual dependencies for fraud mitigation
• Develop and implement a set of fraud KPIs and develop monthly reporting against the KPIs to inform executive leadership and other operational centers of the prevalence of fraud in company environment, and progress made against fraud prevention
• Ensure adherence to all SLAs and modification of strategies (short-term and long-term) to continue to optimize fraud KPIs across approval rates, review rates, time in queue and fraud rates.
• Accurately and thoroughly documents case comments and all investigative steps in compliance with department procedures and standards.
• Conducts complex investigations without supervision

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