Fraud Detection Supervisor supervises fraud detection associates in their effort to detect possible customer fraud. Leads cross-functional initiatives to proactively detect and prevent fraud from occurring. Being a Fraud Detection Supervisor researches, documents, and implements best practices in the industry with regard to fraud detection. Leads the most challenging and complex fraud investigations. Additionally, Fraud Detection Supervisor requires a bachelor's degree. Typically reports to a manager or head of a unit/department. The Fraud Detection Supervisor supervises a group of primarily para-professional level staffs. May also be a level above a supervisor within high volume administrative/ production environments. Makes day-to-day decisions within or for a group/small department. Has some authority for personnel actions. Thorough knowledge of department processes. To be a Fraud Detection Supervisor typically requires 3-5 years experience in the related area as an individual contributor. (Copyright 2024 Salary.com)
Purpose/Duties:
Responsible for investigating digital financial crimes committed against Achieva Credit Union. Continuously works to understand and mitigate losses to ensure the highest level of loss avoidance and reduction. Monitors and manages a variety of reports/alerts and escalates issues as warranted to management. Investigations include the tasks of complying with regulatory requirements, examining, detecting and investigating digital financial crimes activity, interviewing members, and suspects, gathering evidence, and working with law enforcement. Apply critical thinking to identify, research, and correct Account discrepancies, errors, and possible fraud trends. Access multiple reporting tools to complete, review, and update account records, ensuring and maintaining data integrity. Dedication to developing strong relationships with co-workers, management and other departments. Work with the VP of Risk Management and BSA staff to improve investigations, analyses and identifying control and procedural issues.
Key Results Area:
Review and analyze digital activity flagged by the credit unions fraud monitoring systems to determine if further investigation or action is necessary
Gather and analyze reports, records and information from internal and external resources to facilitate investigations
Utilize multiple technologies and sound judgment to examine account activity and detect potentially fraudulent activity
Correspond with internal and external entities regarding members, accounts, and transactions to validate relevant information
Engage with other financial institutions and financial crimes units to confirm fraud, identify common suspects and emerging trends
Recommend analytic and procedural efficiencies and improvements to the VP of Risk Management
Identify and analyze current trends to develop preventive strategies
Perform investigative practices (conduct interviews, compile documentation and evidence, maintain extensive notes in Verafin, develop initial and ongoing investigative reports in Verafin), complete accurate and timely Suspicious Activity Reports (SARs), and refer investigations to appropriate level law enforcement agency (locally, state, federal) for assistance and prosecution.
Research, evaluate and identify control deficiencies/violations that contribute to the fraud, and make recommendations to enhance controls
Ensure quality, uniformity and compliance with regulations throughout Achieva Credit Union footprint and adhere to standard operating procedures for Risk Management.
Work collaboratively with other departments to recommend solutions that impact performance, risk, losses and threats to the organization
Responsible for upholding all credit union ethical standards
Represents the credit union in a courteous and professional manner
Perform other essential job functions as required or assigned.
Minimum Education Required:
Previous Experience:
Required Skills:
Benefits:
Achieva Credit Union is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to status as a protected veteran or a qualified individual with a disability, or other protected status, such as race, religion, color, national origin, sex, age.
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