This position within Retail Payment System (RPS) will identify opportunities to reduce credit and debit card fraud loss expense and improve efficiency and efficacy of the supporting RPS business line functions.
It will execute a strategic fraud mitigation plan using continuous improvement principles to identify trends, complete fraud risk assessments, evaluate vendor solutions and implement internal controls.
Process mapping and enhancements to call center functions and procedures will be completed to drive expense reductions.
Leading financial cost-benefit analysis and vendor management are critical for delivery of identified solutions.
• Develop and implement strategic solutions to combat Account takeover, Card not present, Fraud account applications, Counterfeit cards and Lost/Stolen types of fraud.
• Responsible for managing, monitoring and coordinating fraud risk management projects for credit, debit, and commercial card products.
• Proactively identifying trends or developments that may materially impact business goals and targets.
• Predicts the level of fraud risk, develops policies and procedures used to evaluate and control fraud risk and analyzes the potential profit/loss impact on the assigned product line of changes in risk management strategies.
• Review operations processes and identify improvement opportunities.
• Evaluate risk mitigation vendor capabilities including establishing vendor solution performance objectives and conduct Request for Proposal (RFP) evaluation cycles.
• Complete financial impact analysis and business case development.
• Bachelor's or master's degree, or equivalent work experience
• Seven to ten years of experience in fraud risk management activities
• Prefer a degree in a quantitative field such as economics, statistics, operations research, business analytics, financial mathematics or industrial engineering
• Four or more years of experience using SAS, R, or SQL in operational or financial reporting.
• Strong analytical skills relative to evaluating fraud prevention infrastructure and forecasting fraud loss trends
• Thorough knowledge of fraud, strategic planning, and banking operations preferred, but not required
• Basic project management skills
• Experience in process mapping, lean management and/or continuous improvement cycles preferred
• Effective verbal and written communications skills
• Comprehensive to expert level of knowledge of all departmental data sources, and of fraud risk and operations management associated with the product lines
• Proficient to expert computer skills, especially Microsoft Office applications including Excel experience
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