Fraud Operations Director

Community Bank, N.A.; City of Albany (NY); On-site; USD 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a Program Manager to lead their Fraud Programs. This role involves developing and implementing strategies to combat fraud across various banking channels. You will oversee investigations, collaborate with departments, and ensure compliance with regulations. The ideal candidate will possess strong leadership, analytical, and communication skills, with extensive experience in financial crime. Join a company that values its employees and offers competitive compensation, great benefits, and opportunities for professional growth in a supportive environment.

Benefits

11 Paid Holidays

Paid Vacation

Medical Insurance

Vision Insurance

Dental Insurance

401K with Generous Match

Pension

Tuition Reimbursement

Banking Discounts

Qualifications

• 8-12 years of experience in financial crime/fraud investigations.
• Expert level experience in bank fraud detection and identity theft.

Responsibilities

• Lead and oversee daily operations of the fraud department.
• Analyze fraud trends and develop mitigation strategies.
• Collaborate with law enforcement for information exchange.

Skills

Leadership Skills

Analytical Skills

Communication Skills

Fraud Detection

Fraud Management Software

Organizational Skills

Education

BS or BA Degree in Fraud/Financial Crime

Related Professional Work Experience

Tools

Fraud/AML Software

Verafin FRAML

Job description

Overview

At Community Financial System, Inc. (CFSI), we are dedicated to providing our customers with friendly, personalized, high-quality financial services and products. Our retail division, Community Bank, N.A., operates more than 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts. Beyond retail banking, we also offer wealth management, investment management, insurance and risk management, and benefit plan administration.

Just as our employees are committed to helping our customers manage their finances, we're committed to our employees. After all, they make it happen for our customers every day.

To ensure our people can enjoy long and successful careers here at CFSI, we offer competitive compensation, great benefits, and professional development and advancement opportunities. As an equal-opportunity workplace and affirmative-action employer, we celebrate and support a diverse workplace for the benefit of all: our employees, customers and communities.

Responsibilities

A program manager responsible for developing, implementing, and administering the Bank's Fraud Programs. This position oversees the process for investigation and reporting of fraudulent or illegal activities as well as the prevention and recovery of losses resulting from such activities. They will work with various lines of business to develop policies and procedures to monitor for, and defend against all types of fraud. This includes, but is not limited to, checks, deposits, new accounts, online accounts, loans, account take overs, elder financial exploitation, online banking, etc. Collaboration with fraud and security staff in other departments may be necessary, including Information Security staff and management. Oversight of the fraud program will include all types of fraud and financial crime, in all areas of the organization. This position requires expertise in fraud typologies, intervention and prevention strategies, forward looking strategic planning, and policy/program development. This position will analyze fraud trends, develop mitigation strategies, and deploy creative solutions to manage fraud losses and support business growth.

Essential Responsibilities:

• Lead and oversee daily operation of fraud department, ensuring all department objectives, initiatives, and metrics are met or exceeded.


• Supervise writing, reviewing, and submission of required regulatory reports, including suspicious activity reports (SARs).


• Comply with, and stay informed of, all policies and procedures, as well as federal and state laws applicable to the job.


• Maintain proficient knowledge of banking rules and regulations, including but not limited to, the Bank Secrecy Act (BSA), USA Patriot Act, UCC, FACT Act, and OFAC.


• Effectively manage all incoming communications regarding fraudulent or potentially fraudulent activity received via multiple channels from internal departments, customers, law enforcement and banks.


• Review fraudulent activity for the detection and prevention of potential fraud utilizing multiple systems in the areas of; Wires, ACH, Card, Check and Online Banking Takeover events.


• Develop, supervise, and retain key talent. Ensure individuals have the skills, product knowledge, and tools needed for fraud mitigation efforts.


• Maintain close liaison with law enforcement, and other financial institution investigators to expedite exchange of information and elicit their assistance


• Lead the fraud management process with the right balance of customer and risk focus with a goal of mitigating bank losses while not losing sight of unnecessary customer friction.


• Develop, update, and implement, as appropriate, fraud mitigation and investigation procedures and educational materials for internal and external customers.


• Collaborate with other departments to guarantee seamless implementation and support of policies and procedures


• Responsible for the Bank's fraud monitoring, reporting and KPI's to meet the required Board and Management oversight expectations.


• Establish and maintain Fraud Risk Assessment; identify risk exposures, controls and tolerances, as well as assist operational units to establish proper controls


• Proactively identify, research, and recommend policy and procedure changes to reduce costs, streamline operations and/or increase efficiency.


• Track financial industry fraud trends, adapts accordingly, and establish mitigating solutions.


• Analyze datasets to identify trends, detect anomalies, and develop strategies to mitigate future fraud losses.


• Develop and deliver high-quality intelligence products using all available data sources.


• Collaborate with Systems Administrator to conduct ongoing evaluation and improvement of BSA/AML/Fraud monitoring system to increase efficiency and productivity.


• Identify innovative strategies and systems to enhance the organizations overall fraud management.


• Maintain proficient knowledge of, and demonstrate ongoing compliance with all laws and regulations applicable to this position, ensure ongoing adherence to policies, procedures, and internal controls, and meet all training requirements in a timely manner


• Other duties as assigned.

Supervisory Responsibilities:

Directly supervises fraud staff. Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.

Qualifications

Education, Training and Requirements:

• BS or BA degree with course work in fraud/financial crime preferred or related professional work experience and degree.


• All applicants must be 18 years of age or older

Skills:

• Strong leadership, management, organizational and communications skills. Ability to communicate verbally and in writing in a thorough and professional manner. Exceptional analytical skills, including the ability to proactively research and understand new and existing regulations, guidance, UCC requirements, and legal cases. An ability to use technology to manage function, including strong PC skills, utilization of Fraud/AML software, and other fraud software solutions. An ability to work independently while supporting a team environment. Experience working in an environment that requires confidentiality, proper handling of sensitive information and the ability to work independently. Some travel and a valid driver's license are required for this position. A desire to stay current with industry and fraud environment and seek out developmental opportunities.

Experience:

• Eight to twelve years of experience in financial crime/fraud investigations, including management/supervisory experience. Expert level experience in bank fraud detection, including check and deposit fraud, account take-over, on-line account opening, loan and indirect lending fraud, and identity theft. Experience with financial crime management software is a must, Verafin FRAML experience a plus.

Other Job Information

Compensation: Commensurate with experience plus potential for annual merit increase. In addition to your competitive salary, you will be rewarded benefits including: 11 paid holidays, paid vacation, Medical, Vision & Dental insurance, 401K with generous match, Pension, Tuition Reimbursement, Banking discounts and the list goes on!

Physical Requirements:

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. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee may be required to stand, walk or sit. Use hands and fingers, handle or feel, reach with hands or arms, and speak and hear. The employee may occasionally be required to lift and or move up to 25 pounds. Specific vision abilities required by this job include close vision, and the ability to focus.

The Company is an Affirmative Action, Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex (including pregnancy, sexual orientation and gender identity), national origin, citizenship status, age, disability, genetic information, veteran status, or any other characteristic protected by applicable federal, state or local law.



The Company will make reasonable accommodations for qualified individuals with a disability. If you have a physical or mental impairment and would like to request an accommodation with respect to the application process, please contact the Human Resources Department.