Role:The Manager - Fraud & Loss Prevention is responsible for protecting the Credit Union's assets by leading enterprise-wide fraud prevention, detection, investigation, dispute, and loss prevention activities. This position develops and maintains fraud-related policies, procedures, controls, monitoring, and response protocols; oversees investigations and claims; and uses data, analytics, technology, training, and cross-functional partnerships to reduce financial and operational losses. The Manager ensures fraud and loss prevention activities are timely, well documented, compliant, member-focused, and aligned with the Credit Union's risk appetite and strategic objectives.
Essential Functions & Responsibilities:E
Fraud and Loss Prevention Strategy: • Lead the Credit Union's enterprise-wide fraud and loss prevention strategy and operating framework.
• Establish policies, procedures, controls, performance standards, and escalation protocols to reduce fraud and operational losses.
• Assess emerging threats and recommend changes to systems, processes, controls, training, and member education.
• Partner with business units to strengthen fraud prevention and detection across products, channels, and operations.
• Prepare reports and recommendations for executive management and applicable committees.
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Fraud Detection, Monitoring, and Controls: • Monitor trends involving identity theft, account takeover, scams, card, check, deposit, payment, loan application, and digital banking fraud.
• Oversee fraud monitoring, alert review, case prioritization, and escalation processes.
• Evaluate and improve preventive and detective controls, rules, thresholds, workflows, and quality standards.
• Use data, analytics, automation, artificial intelligence, and other technology to identify patterns and improve fraud detection.
• Conduct root-cause reviews and implement corrective actions following fraud events or control failures.
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Fraud Investigations and Loss Recovery: • Oversee the investigation, documentation, escalation, and resolution of suspected or confirmed fraud.
• Ensure investigations are thorough, timely, objective, and supported by complete case documentation and evidence.
• Coordinate recovery efforts related to fraudulent transactions and operational losses, including collaboration with financial institutions, payment networks, insurers, law enforcement, legal counsel, and service providers, as appropriate.
• Ensure suspicious activity and other reportable matters are escalated to the appropriate authority in accordance with Credit Union policy.
• Track fraud attempts, prevented and confirmed losses, recoveries, investigations, and control effectiveness.
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Disputes, Claims, and Regulatory Compliance: • Oversee fraud-related dispute and claims processes and ensure timely, accurate, and member-focused resolution.
• Maintain procedures for investigations, documentation, provisional credits, adjustments, recoveries, determinations, and member communications.
• Ensure compliance with applicable laws, regulations, payment network rules, contractual requirements, and Credit Union policies.
• Monitor regulatory and payment network developments and implement required procedural, control, training, and system changes.
• Coordinate with Compliance, Legal, Internal Audit, Risk Management, and service providers on audits, examinations, complaints, and corrective actions.
• Maintain complete records supporting disputes, fraud investigations, regulatory reporting, and audits.
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Leadership and Department Management: • Hire, train, schedule, coach, and evaluate assigned employees.
• Establish department goals, procedures, controls, training, service standards, and performance expectations.
• Maintain a skilled team capable of managing fraud alerts, investigations, disputes, claims, and loss prevention activities.
• Evaluate and implement technology supporting fraud detection, case management, reporting, workflow, and loss prevention.
• Promote accountability, collaboration, innovation, continuous improvement, ethical decision-making, and respectful member treatment.
• Partner with Information Technology, Information Security, Compliance, Risk Management, Operations, Lending, Data and Analytics, and vendors to strengthen fraud prevention and response.
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Performs other job-related duties as assigned.Performance Measurements:1.
Fraud Loss Performance: Maintain fraud and other operational loss metrics within budget and strategic plan expectations
2.
Prevention and Detection: Reduce fraud exposure through effective controls, monitoring, investigations, technology, analytics, employee training, and member education.
3.
Investigation Quality and Timeliness: Ensure fraud alerts and cases are investigated, documented, escalated, and resolved accurately and within established standards.
4.
Disputes and Claims: Ensure fraud-related disputes and claims are resolved accurately, timely, consistently, and in compliance with applicable requirements.
5.
Recovery Results: Maximize recovery related to fraudulent transactions and operational losses while maintaining appropriate documentation and controls.
6.
Regulatory and Policy Compliance: Ensure fraud prevention, investigations, disputes, claims, reporting, and loss recovery activities comply with applicable laws, regulations, payment network rules, contractual requirements, and Credit Union policies.
7.
Technology and Process Improvement: Use technology, reporting, analytics, automation, and process improvement to strengthen fraud prevention, detection, case management, and loss mitigation.
8.
Team, Member Service, and Management Reporting: Maintain a capable team, provide timely and respectful service, and keep management informed of material fraud risks, trends, losses, control concerns, and improvement opportunities.
9.
Team and Vendor Performance: Maintain a capable internal team and effectively manage vendor performance, accountability, communication, and issue resolution.
10.
Member Service and Management Reporting: Provide timely, accurate, respectful service and keep management informed of material risks, trends, vendor issues, operational concerns, and improvement opportunities.
Knowledge and Skills:Experience
Five years to eight years of similar or related experience.
Education
(1) A bachelor's degree, or (2) achievement of formal certifications recognized in the industry as equivalent to a bachelor's degree (e.g., information technology certifications in lieu of a degree).
Interpersonal Skills
A significant level of trust, discretion, and diplomacy is required. The position involves extensive personal contact with members, employees, management, vendors, attorneys, regulators, and other external parties, often regarding sensitive financial or personal matters.
The Manager must be able to motivate, influence, coach, and train others; build effective relationships; resolve conflicts; communicate difficult decisions; and promote cooperation among internal departments and external service providers.
Regulatory and Compliance Responsibilities
The Manager is responsible for understanding, adhering to, and complying with applicable laws and regulations and the Credit Union's policies and procedures, including requirements related to:
- Bank Secrecy Act and Anti-Money Laundering;
- Fraud prevention and suspicious activity reporting;
- Consumer protection and fair lending;
- Loan servicing and collections;
- Electronic payments and payment disputes;
- Privacy and protection of member information;
- Vendor and third-party risk management; and
- Records retention and regulatory examination requirements.
The Manager is responsible for reporting suspicious activity, suspected fraud, compliance concerns, control weaknesses, and other reportable matters to the appropriate authority in accordance with Credit Union policies and procedures
Other Skills
A strong knowledge of financial crimes, fraud schemes, and applicable laws and regulations is required. High energy level, comfortable performing multifaceted projects in conjunction with day-to-day activities. Proven leadership experience with the ability to mentor and develop team members. Strong communication skills, both written and verbal, with the ability to present to senior management and the board.
Strong time management; ability to manage multiple workloads with successful results; ability to work independently; organizational skills, excellent verbal and written communication skills, listening skills, Excellent analytical and problem-solving skills with the ability to interpret complex data; above average interpersonal skills; above average computer skills (E.g., Proficiency in fraud detection software and data analysis tools). The Manager is responsible for understanding, adhering to, and complying with applicable laws and regulations and the Credit Union's policies and procedures, including requirements related to:
• Bank Secrecy Act and Anti-Money Laundering;
• Fraud prevention, financial crimes, and suspicious activity reporting;
• Electronic payments, payment disputes, and payment network rules;
• Consumer protection and fair treatment;
• Privacy and protection of member information;
• Information security and identity theft prevention;
• Vendor and third-party risk management; and
• Records retention and regulatory examination requirements.
The Manager is responsible for reporting suspicious activity, suspected fraud, compliance concerns, control weaknesses, and other reportable matters to the appropriate authority in accordance with Credit Union's Bank Secrecy Act and Anti-Money Laundering policies and procedures.
Strong knowledge of financial crimes, fraud schemes, fraud prevention and detection practices, investigative methods, dispute and claims processes, and applicable laws and regulations is required.
Proven leadership experience with the ability to mentor and develop team members.
Strong written and verbal communication skills, including the ability to present to senior management and the board.
Excellent analytical and problem-solving skills with the ability to interpret complex data, identify patterns, assess risk, and recommend practical controls.
Strong organization, time management, judgment, discretion, collaboration, and interpersonal skills.
Proficiency with fraud detection software, case management tools, data analysis, reporting, and standard business applications.
Physical Requirements
Essential functions of this position may be performed while standing or sitting. The employee is regularly required to talk and hear and to use hands to finger, handle, or feel objects and controls. The employee may occasionally be required to walk, reach with hands and arms, stoop, kneel, or bend.
The employee may occasionally lift and/or move up to 50 pounds. Specific vision abilities required include close vision and the ability to work with computer screens and written documentation.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Work Environment
This is a hybrid / remote position. Currently, in-office expectations are Tuesdays and Wednesdays each week with the remainder of the week working remote. Employees are expected to come into the office to work as required by leadership, which may include days outside of Tuesdays and Wednesdays based on need.
This job description is not a complete statement of all duties and responsibilities comprising the position. Duties, responsibilities, reporting relationships, and performance expectations may be revised as organizational needs change.. 
