Fraud Data Analyst Program Manager

About the position

The position involves developing, assessing, managing, implementing, and communicating fraud detection, prevention, and control initiatives and strategies to protect the company from financial and reputational losses incurred through fraudulent activities. The role requires analyzing transaction patterns and fraud trends to create effective anti-fraud strategies based on various fraud types and customer segments. Responsibilities include managing the rule life cycle, performance analysis, and reporting, as well as examining past and current fraud trends to implement effective fraud mitigation strategies. The position also involves applying validation processes to fraud rules and performing trend analytics using valid transaction and fraud data to identify patterns and make recommendations for improved controls.

Responsibilities

• Analyzes and interprets complex data to formulate problem statements and concise conclusions regarding underlying risk dynamics, trends, and opportunities related to fraudulent activities.
• Identifies and establishes key risk indicators and metrics.
• Builds fraud models and provides statistical input for the development and implementation of transactional fraud modeling strategies, policies, plans, and programs.
• Develops custom reports and conducts fraud trending to detect trends and assist in setting fraud policy.
• Creates reporting based on a large volume of data and identifies fraud trends based on specific transaction attributes and historical transaction data.
• Identifies, analyzes, and resolves complex issues using various fraud tools, applications, and systems.
• Develops, implements, and improves comprehensive fraud detection strategies and authorization decision rules that balance fraud loss reduction, costs, and customer experience.
• Communicates fraud trends and portfolio performance to executive management.
• Provides summaries and detailed analysis of findings, potential risks, and proposed action plans to address identified issues, including recommendations regarding the implementation of additional security measures based on findings.
• Develops, implements, and monitors account and portfolio level trends in the Life Cycle Management of Fraud and Risk.
• Leads discovery processes with line-of-business stakeholders to identify business requirements and expected outcomes aligned with fraud reduction.
• Models and frames scenarios that are meaningful in the fraud reduction arena.
• Provides ongoing tracking and monitoring of performance of the rules behaviors and fraud models.
• Acts as a senior resource and subject-matter-expert in the development, tuning, and calibration of transaction monitoring rules used for detecting fraudulent activity across the bank.
• Conducts trend analysis across all measurable system results to establish thresholds and parameter settings.
• Performs pilot projects to analyze and establish new algorithms and rules and ensures rules are reviewed regularly based on the level of risk and that the systems are appropriately optimized.
• Leads the design and deployment of enhancements and fixes to the fraud model as needed.
• Ensures sound risk coverage, adequate quantitative model assessment and validation, and data quality completeness and integrity.
• Supports all review and audit functions.
• Creates a model inventory list and ensures all models are reviewed.
• Prepares monthly, quarterly, and annual reports as it relates to changes made to strategies, their impact, and performance indicator results.
• Understands and leverages evolving analytical tools and technologies available that may be implemented to enhance work performance.
• Maintains open and ongoing collaboration and communication with the front-line fraud detection team.
• Obtains feedback and incorporates day-to-day experiences into proposed solutions to mitigate negative impact to customers.
• Works with line of business partners to develop fraud prevention initiatives that balance risk and customer service.
• Identifies, evaluates, monitors, and makes recommendations to the Operational Risk Committee to assess, reduce, eliminate, or control any current or prospective risks to the company from violations of laws, rules, regulations, prescribed practices, internal policies, and procedures or ethical standards.
• Maintains knowledge of bank fraud trends and card associate rules and regulations.
• Performs other related duties as required.

Requirements

• Bachelor's degree in computer science, applied mathematics, statistics, or a related discipline OR an equivalent combination of education and experience.
• Six years of financial services/banking/credit/debit card industry experience in a data analysis/data mining role.
• Strong analytical skills, including working with advanced data sets.
• Proficiency integrating and preparing large, and varied datasets.
• Proficiency in database concepts and managing data through the account lifecycle to include shifts in data lineage.
• Proficiency using Microsoft Office software applications, including advanced SQL, Excel, and Access.

Nice-to-haves

• Graduate degree