GENERAL SUMMARYResponsible to define and build fraud infrastructure and strategies across multiple products and channels and payments hub initiative. As the subject matter expert on deposit fraud and general payments fraud, develop data-driven fraud risk strategies, partner with cross-functional teams, and ensure compliance with fraud prevention requirements. Key responsibilities include monitoring fraud losses, improving core metrics, exploring innovative approaches, and managing process improvements to enhance efficiency and effectiveness.
DIRECT REPORTSNo direct reports.
ESSENTIAL FUNCTIONS- Assists the Deposit Fraud team to assess existing modern technologies and systems.
- Ensures Fraud Rules and Strategies are developed, implemented, and maintained to mitigate fraud loss while ensuring minimal client impact.
- Helps ensure the Bank complies with all internal and external policies and regulations related to fraud prevention.
- Assists the Deposit Fraud team in gap analysis, risk assessments, and producing internal and external fraud training/education material.
- Partners and collaborates with internal business partners to ensure Fraud Strategies align with the overall business goals.
- Serves as subject matter expert on deposit fraud across multiple products and channels for the department and other ILOD teams.
- Prepares and communicates department level reporting regarding volumes, effectiveness, and project updates, as needed.
- Partners with 2LOD Risk Management team to execute on the fraud risk policy and procedures.
- Identifies and suggests methods to prevent deposit-related losses, to recover funds and to mitigate losses.
- Collaborate with the department manager to manage and monitor process improvements and enhancements within area of responsibility, including evaluation of efficiency and effectiveness.
- Recommends measures to facilitate loss mitigation and prevention and to improve department processing efficiencies.
- Responsible for reporting internal fraud monitoring rule performance, KRIs, and KPIs.
QUALIFICATIONS- Education: College or Bachelot's degree or equivalent banking experience in a related field preferred.
- Experience: 5-7 + years related working experience in fraud strategy at a financial institution.
- Skills/Ability: Ability to work efficiently and independently with a high level of productivity. Demonstrate strong analytical, problem solving and client service skills. Strong understanding of financial fraud related regulations. Strong verbal and written communication skills, and the ability to communicate effectively with all levels of Bank personnel. Great knowledge of various computer software applications, including Word and Excel.
Pay Range: $94,700- $109,200
Learn more about us at cathaybank.com
Cathay Bank offers its
full-time employees a competitive benefits package which is a significant part of their total compensation. It is our goal to provide employees with a comprehensive benefits package to fit their needs which includes, coverage for medical insurance, dental insurance, vision insurance, life insurance, long-term disability insurance, and flexible spending accounts (FSAs), health saving account (HSA) with company contributions, voluntary coverages, and 401(k).
