Fraud Operations Officer I

Overview

Reports to: Fraud Operations & Investigations Manager

 

Functions Supervised: Fraud prevention, investigation, and claims resolution.

 

Primary Functions: Responsible for the daily supervision of the Fraud Operations department including the completion of daily work distribution, investigation and claims resolution. Responsible for the development and coaching of Fraud Operations team members. Maintain effective processes, standards, reporting, and recommendations to balance mitigation efforts against acceptable service levels.

 

Duties and Responsibilities:

Supervise staff to ensure the distribution and timely completion of fraud claims, daily tasks, queues and reports to reduce losses where possible.

Ensure alert penetration rates, service level agreements, alert/case inventory, and production quality align with risk tolerance thresholds established by Fraud Strategy & Analytics, as well as executive leadership.

Assist with escalated fraud claims involving ACH, Pre-authorized drafts, altered check, forged endorsements, unauthorized third party transfers, elder fraud, identity theft or other fraud issues.

Maintain case files and work with law enforcement, adult protection agencies, and financial institution contacts for fraud related investigations.

Ensure timely and accurate reporting of suspicious activity as required by the Bank Secrecy Act.

Assist in the preparation of monthly miscellaneous, bonded and un-bonded claims charge off recommendations.

Assist with the preparation and filing of insurance claims and the coordination of reimbursements from the bonding companies and other parties.

Communicate with members and internal departments to relay crucial information relating to fraud trends and escalated situations.

Assist with the development of strong processes and procedures; ensure accurate and up to date documentation as changes occur.

Assist with the personnel functions within the department including staffing, training, evaluating performance, employee morale, and policy compliance.

Perform other duties as assigned.

Qualifications

Education: Bachelor's degree in Business Administration, Criminal Justice or related field.

 

Creditable Experience in Lieu of Education: Three years of experience in the area of financial institution operations or financial crimes investigation of which at least two years should be in a comparable management position.

 

Experience/Skills: Ability to resolve problems and function with minimal supervision. Thorough familiarity with banking and financial regulations. Strategic and tactical analysis skills as well as the ability to exercise discretionary judgment. Sound oral and written communications skills. Process-driven with the capability to design and implement solutions for increased efficiency and management oversight.

 

Tenure: Assignment to the Fraud Operations Officer I (Category 09), or Fraud Operations Officer II (Category 08) position will be determined by the candidate's education or experience. Advancement requires management recommendation and will be based on the candidate's certifications and/or performance.

 

Compensation

Starting base salary will be determined based on candidate experience, qualifications, education, and applicable local or state wage requirements, and will fall within the range provided below. In accordance with our Salary Administration policy, new hire base salaries generally fall between the minimum and midpoint of the listed range.

Salary Pay Range: 08

$79,989 - $132,798 annually

Salary Pay Range: 09

$69,557 - $112,677 annually Benefits

• Short-term and long-term incentives
• Comprehensive medical, dental and vision insurance plan that has HSA and FSA options
• 401(k) plan with a 5% match
• Employee Assistance Program (EAP)
• Life and disability coverage
• Voluntary cash benefits for accident, hospitalization and critical illness
• Tuition Reimbursement
• Generous leave programs to include Paid Time Off accrual, Paid Sick Leave, Paid Holidays
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