Fraud Data Analyst

About the position

Develops, assesses, manages, implements and communicates fraud detection, prevention and control initiatives and strategies to protect the company from financial and reputational losses incurred through fraudulent activities. Analyzes transaction patterns and fraud trends to develop effective and dynamic anti-fraud strategies based on fraud types and customer segments. Manages rule life cycle including performance analysis and reporting. Examines past and current fraud trends, running data reports and analyzing results in order to implement effective fraud mitigation strategies. Applies validation processes to fraud rules. Performs 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 to 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 the business requirements and the expected outcome always aligned with the reduction of fraud.
• Models and frames scenarios that are meaningful in the fraud reduction arena.
• Provides on-going 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 on a regular basis 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 an open and ongoing collaboration and communication with the front-line fraud detection team.
• Obtains feedback and incorporates their 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 deemed necessary to the Operational Risk Committee in order to assess, reduce, eliminate or control any current or prospective risks to the company from violations of, or nonconformance with, laws, rules regulations, prescribed practices, internal policies and procedures or ethical standards.
• Maintains knowledge of bank fraud trends and card associate rules and regulations.
• Each team member is expected to be aware of risk within their functional area.
• 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

• Financial institution experience, preferably fraud.
• Heavily data focused.
• Modern cloud experience.
• Familiarity with Python and R.
• Graduate degree.