Fraud Manager

Description

Job Title: Fraud Manager

Department: Risk

Reports to: Director of Compliance

Hours per Week: 40 hrs./week Salary Exempt

Company Summary

Welcome to Financial Plus Credit Union (FPCU) – 'The Place where it’s Possible.'

At FPCU, we believe in the power of collaboration, embrace inclusivity as a strength, and are driven by a shared commitment to success. Our community-centered approach goes beyond financial services; it's about fostering connections and making a positive impact.

Join us, and be part of an environment that prioritizes wellness, encourages continuous learning, and opens doors to developing you into the person you want to be. Explore the opportunities that await you at FPCU – where you aren’t just making a living, but joining a PLACE where you can REACH your goals.

Position Summary

Responsible for the investigation of fraudulent, illegal or improper activities by internal or external means, and the prevention and recovery of losses sustained by such activities. Responsible for the assistance in supervision of the Risk and Fraud Department. This includes but is not limited to: managing, coaching, developing, implementing and providing continuous improvements to the support service processes, tasks, and responsibilities. The Fraud Manager would be responsible for managing an effective fraud prevention strategy and program to detect, prevent, and deter fraud or the threat thereof to safeguard the financial interests of the credit union and its members. The Fraud Manager provides expert guidance and oversight of fraud-related investigations involving the use of electronic/cyber systems, debit and credit cards, new accounts, account abuse, check forgery, elder abuse, suspected money laundering and check kiting, identity theft, and the like. The incumbent routinely analyzes fraud trends and creates reports outlining risks and mitigation strategies.

Essential Functions & Primary Responsibilities

• Educates Credit Union employees to identify and respond to potential fraud situations.
• Manages direct reports to maximize productivity, efficiency, and staff performance. Provides coaching, counseling, training, corrective action, and compliance with regulatory requirements and organizational mission, values, policies, and work rules. Appraises performance and provides recommendations for staff compensation, promotion, and termination, as appropriate. Ensures high performance, growth, and collaboration within the team.
• Develops, maintains and implements policies and procedures to detect and prevent the occurrence of fraudulent activity.
• Research and create necessary efficiencies within the department to prevent loss, mitigate risk and implement processes and procedures to execute required tasks more proficiently.
• Liaison with support departments to enhance synergy in operations. (HR, IT, Lending, Operations/Technology, Accounting)
• Responsible for the understanding of Compliance and regulations in relations to the NCUA and DIFS
• Works with the fraud team for completion of necessary forms for submitting claims to the insurance company. Provides documentation on non-insurable losses and initiates charge-off of items determined to be non-collectable
• Manage the fraud team in the processing of fraud claims and process restitution payments from court in a timely manner.
• Oversee the investigation of check fraud cases and electronic fraud cases, including prevention, detection and response.
• Facilitate the fraud ticketing systems to ensure compliance, prevention of loss and mitigation of risk and ensure the completion of member service requests from the credit union staff in a timely manner.
• Supervise the reconciliation of the fraud collections and recoveries general ledger for accounting.
• Prepare board report on behalf of the fraud department regarding fraud activity, losses and recoveries.
• Communicate/Correspond with law enforcement, make police reports when necessary, appear in court for subpoenas and any additional related fraud cases needing credit union representation.
• Direct, assess and oversee Verafin Alerts, and SAR filings when applicable.
• Provide SPARK! Member service, have strong communication skills (verbal and written) and be able to find solutions to difficult problems.
• Answer member questions, perform routine clerical duties, type standardized forms, research and operate office equipment.
• Liaison with Adult Protective Services for fraud perpetrated against the elderly and vulnerable
• Oversee elderly abuse training, education and responses to claims.
• Ensures compliance with all federal and state laws and regulations, including the Bank Secrecy Act, Patriot Act, and Office of Foreign Asset Controls, and should request legal interpretation as necessary. Must ensure subordinates are also compliant with such laws and regulations
• Perform other duties as assigned
  
  

Requirements

Education & Qualifications

• At least an Associate’s Degree in Business or similar related experience
• 3-5 years experience working with Fraud or in a similar capacity
• This position requires an understanding in basic computer skills including m365 suites
  
  

Skills And Abilities

• Strong analytical skills with the ability to make sound decisions
• Ability to manage time and workload independently through good organizational skills
• Strong attention to detail and accuracy
• Ability to adhere to internal policies as well as external policies and regulations set forth by DIFS
• Self-motivation with the ability to effectively prioritize work and accomplish tasks autonomously
• Ability to learn new tasks and processes quickly and efficiently
• Presents a positive and professional image to members through effective and courteous verbal and written communications
• Courtesy, tact, and diplomacy are essential elements of the job. Work involves much personal contact with others inside and/or outside the organization for purposes of giving or obtaining information, building relationships, or soliciting cooperation
• Ability to apply logical thinking to define problems, collect data, establish facts, and draw conclusions
• Ability to be mindfully flexible and willing to go with the flow
• Ability to deal with difficult concepts and complex variables
  
  

Physical Demands & Work Environment

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Sedentary work; sitting most of the time. Exerts up to 10+ pounds of force occasionally
• The noise level in the work environment is professional and typically moderate
  
  

This job Description is not a complete statement of all duties and responsibilities comprising this position.