Fraud Operations Lead
Key Responsibilities:
1.Monitoring and investigation:
- Oversee transaction and account activity monitoring using specialized fraud detection platforms.
- Review fraud alerts, investigate suspicious activities, and identify fraudulent behavior based on customer behavior, transaction patterns, and system signals.
- Ensure timely and accurate classification and escalation of high/medium/low-risk fraud cases.
2. Technical proficiency and data analysis:
- Lead the fraud monitoring rule configuration and testing (UAT), including review, customization, and post-go-live tuning.
- Work with vendors and internal stakeholders to ensure alignment on fraud detection logic, system integration, and performance optimization.
- Continuously analyze the performance of fraud detection tools and recommend data-driven enhancements to improve their efficiency and effectiveness.
- Leverage data analysis techniques to identify patterns, anomalies, and trends in fraud cases to enhance detection and prevention efforts.
- Use data visualization tools to create dashboards and reports that provide actionable insights for fraud operations and decision-making.
- Provide expertise in data interpretation to support automation initiatives, focusing on reducing manual intervention in fraud case investigations.
3. Team & Process Management
- Define the fraud operation SOPs, train and guide junior fraud ops team members assign backups and ensure system capability knowledge transfer.
- Contribute to resource planning and team development.
4. Collaboration and communication:
- Communicate findings effectively and escalate potential fraud cases to the appropriate stakeholders, including Compliance, Risk Management, and Law Enforcement, as necessary.
- Collaborate closely with internal teams, such as Customer Service and IT, to address and resolve fraud-related issues promptly.
- Liaise with internal teams to manage fraud issues swiftly and thoroughly. Report and escalate complex fraud cases to Compliance or authorities when required.
Others
- Maintain accurate and detailed records of fraud cases, investigations, actions taken, and outcomes in compliance with regulatory standards.
- Provide support during audits, regulatory examinations, and fraud-related inquiries by preparing documentation and responding to inquiries as required.
Qualifications:
- Bachelor's degree in Finance, Business Administration, Criminal Justice, or a related field.
- At least 7-10 years of experience in fraud prevention, detection, and investigation within the banking or financial services industry, with a strong understanding of banking operations.
- In-depth knowledge of fraud typologies, detection techniques, and industry best practices. Familiarity with fraud prevention tools, software, and analytics platforms.
- Strong analytical and problem-solving skills, with the ability to interpret complex data and trends to make informed decisions.
- Excellent communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams and external stakeholders.
