Fraud Manager
Reporting to the VP of Risk and Compliance, this critical mid-level leader is responsible for the end-to-end management of fraud prevention, detection, and investigation.
The right individual must be able to balance strategic oversight with hands-on technical investigation. As the Fraud Manager you will oversee the credit union's strategies to mitigate financial loss and protect member assets from internal and external threats. This role involves managing a team of specialists to monitor suspicious activity across various channels, including ACH, wires, digital banking, and plastic cards. The manager ensures full compliance with federal regulations such as the Bank Secrecy Act (BSA)/CIP, OFAC, Anti-Money Laundering (AML), and Regulation E.
GFA Salary Range: Commensurate with experience - $67,021, &83,776, $100,531.
Essential Functions and Responsibilities:
- Develop and maintain relationships with law enforcement and fraud prevention organizations.
- Investigate and assist law enforcement with fraud cases.
- Identify and implement process improvements to enhance fraud prevention and streamline internal procedures.
- Identify opportunities to improve detection techniques while balancing member experience and fraud risk.
- Conduct quality assurance reviews to ensure compliance with policies and procedures.
- Participate in fraud/loss prevention and security training sessions.
- Assess and recommend procedures to minimize loss exposure.
- Complete all required Bank Secrecy Act training and stay current on BSA policies, including identifying and reporting suspicious activity.
- Oversee the filing of Suspicious Activity Reports (SARs) in accordance with regulations.
- Manage and coach BSA and Fraud department staff, optimizing processes and ensuring performance standards are met.
- Review, develop, and implement procedures to ensure compliance with relevant laws and regulations, including the Bank Secrecy Act and Patriot Act.
- Monitor AML/BSA/OFAC compliance platforms and fine-tune parameters for optimal results.
- Ensure timely management of AML and fraud alerts, SARs, fraud cases, and regulatory filings.
- Foster positive relationships with business units and support departments.
Supervisory and Management Responsibilities:
- Supervise and evaluate department staff, including performance management, training, and workflow management.
- Promote a positive, cooperative work environment and uphold a professional image.
- Work collaboratively and cross functionally with all Credit Union departments.
- Maintain department records and reports and support credit union goals through effective cost and policy management.
- Ensure compliance with internal controls, policies, and regulations.
Knowledge and Skills:
- 5+ years of BSA/AML or fraud detection/investigation experience in a financial institution, regulatory, or law enforcement setting with also, 3+ years in a supervisory role.
- Bachelor’s degree is desirable and in addition, professional certifications such as CAMS or CFE preferred.
- Proficiency in fraud case management systems, e.g., Verafin preferred
- Proficiency in Microsoft Windows, Outlook, Word, and Excel
- Strong analytical, problem-solving, and communication skills
- Ability to manage multiple priorities and deadlines in a fast-paced environment
- Knowledge of credit union law, regulations, and operational procedures
GFA offers competitive wages and an excellent benefits package which includes: medical, dental, vision, STD, LTD, Life, 401K with match and more. For more information visit our careers page.
GFA is an equal opportunity employer. Federal Law prohibits discrimination against employees or applicants with respect to race, religion, color, sex, national origin, age, genetic information or disability.
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