Fraud Prevention Officer

Fraud Officer

$100,000-$140,000

The Fraud Officer is responsible for the proper oversight of Carver Federal Savings Bank Fraud Risk Management Program approved by the Board of Directors to detect, prevent, and deter fraud or possible fraud that is an essential part of the safe and sound operations of the Bank.

Fraud Officer:
Serve as the Bank’s primary point of contact to fraud prevention and detective measures. This entails:

• Analyzes customer account activity through the utilization of transactional fraud, check scoring, ATM and POS scoring, core system, and report research tools to ensure the Bank maintains a high level of loss avoidance and a low level of risk due to fraudulent activity within the Bank’s customer base.
• Assists in the process of safeguarding Bank assets and minimizes operating losses and exposure to loss through effective loss analysis and prevention procedures.
• Performs ongoing risk assessments to determine areas of heightened risk for possible fraud and adequacy of the Bank’s detective and control environment.
• Provides quality service to Bank customers and business partners through the utilization of fraud and research tools in an efficient manner.
• Develop and maintain daily processing checklists and logging processes.
• Performs strategic analysis of fraud trends and patterns, manages system configurations, and provides subject matter expertise on industry "best practices" to prevent fraud.
• Understands the digital delivery channels as it relates to products and services offered by the Bank and the corresponding security strengths and weaknesses, including proficient knowledge and understanding of customer authentication methods, transactional risk scoring, core system configuration and risk mitigation methodologies and requirements.
• Reviews and analyzes risk activity on alerted accounts to determine potential fraud related to items such as checks or ACH items processed, debit cards, kiting, new accounts to determine application and data validity, and researches suspect account activity and takes appropriate action such as, but not limited to, restricting or closing accounts to prevent fraudulent financial transactions to mitigate loss to the Bank and its customers in accordance with established rules and Bank policies and procedures.
• Implements account relationship closure to avoid continued loss, determines whether holds or account restrictions may need to be placed against accounts through analysis of the account relationship and the probability of loss to the Bank, and assists in the determination if a Suspicious Activity Report (SAR) should be filed with Financial Crimes Enforcement Network (FinCEN).
• Develops, reviews, and analyzes custom fraud reports, validating suspected items against established rules, identifies problems and presents written solutions ensuring accuracy and validity of information, compiles data, and maintains necessary records and files to ensure efficient and consistent reporting of all suspicious investigations, and defines and documents business requirements, processes and methodologies needed to develop and support fraud prevention systems.
• Develops best practices and processes for fraud scoring rules, strategies, and other business improvements to help reduce fraud activity and chargebacks.
• Evaluates the adequacy and effectiveness of policies, procedures, processes and internal controls, reviews and analyzes findings to determine level of risk, drafts corrective action plans and assists in managing change to prevent/mitigate risk, and performs risk analysis and modeling as a precursor to building financial crimes strategies and models that directly impact operating losses and indirectly impact credit losses.
• Partners with Information Technology to identify data sources and develop processes and reporting for capturing required data.
• Works with various Bank personnel and law enforcement authorities in researching and investigating suspicious events, maintains centralized fraud incident response reports, and develops and maintains a working relationship with state and federal law enforcement agencies.
• Assists with the…