FRAUD OPERATIONS OFFICER

POSITION DESCRIPTION

POSITION TITLE: Fraud Operations Officer

DEPARTMENT: Risk Management

LEVEL: 109

FLEXIBLE WORK PROGRAM ELIGIBILITY CODES: Hybrid Work (HW)

FUNCTION:

Under the supervision of the FVP BSA/AML Officer and the VP Security Officer assists in the operational administration of the Security program while maintaining compliance with the mandates of the Bank Protection Act in the area of crime prevention/detection and investigations. Works in conjunction with the Security Officer to ensure processes and procedures are in place to manage and mitigate day-to-day fraud operational risks.

RESPONSIBILITIES:

1. Works with Management to develop and maintain an effective risk-based fraud program, including appropriate internal controls to mitigate the Bank's fraud risks. Upholds the Bank's "culture of compliance."

1. Research and analyze suspected activity involving patterns of customer behavior by using various applications, third-party software, and reports.

1. Demonstrate strong investigative/analytical skills and be able to formulate and clearly articulate a supportable rationale behind the decisions of alerted activity while complying with departmental procedures. Escalate cases to the VP Security Officer as warranted.

1. Conduct comprehensive investigations, review customer data by verifying transactions through activity review or customer contact to reduce any potential monetary loss to the Bank and the customer. Ensure case management systems are updated appropriately.

1. Perform data-driven analysis across multiple delivery channels to identify vulnerabilities and/or proactively determine potential issues or areas of improvement.

1. Monitor submissions made to Security/Fraud workflow in Salesforce to ensure cases are clearly and accurately documented and tasks are performed timely according to regulatory requirements and Bank procedures

1. Assist in the set up and completion of the Suspicious Activity Report (SAR), which includes a detailed analysis of the transaction activity, and compiling appropriate supporting documentation and a comprehensive SAR narrative. Work with the BSA Department on research related to ongoing reporting.

1. Provide telephone and email support for the department in relation to criminal investigations and inquiries. Conduct interviews with customers and employees involving suspicious transactional activity.

1. Monitor systems activities to generate daily, weekly, and/or monthly reports identifying trends and or potential fraud activities. Ensure management is informed of all fraud-related activities and any significant concerns and provide appropriate mitigation plans.

1. Process Bank to Bank requests in an effort to collect funds related to fraud cases.

1. Utilize ChexSystems to report fraudulent and charge-off activity. Reconcile charge-off reports to general ledger and the data management system (Salesforce).

1. Assist in the tuning and optimization of Bank's Fraud software by monitoring potentially suspicious patterns of activity, recommend changes to rules, parameters, and thresholds to ensure continued effectiveness.

1. Stays abreast of fraud risks associated with new or changed products/services to facilitate proactive mitigation of identified risks.

1. Assist the VP Security Officer and Chief Risk Officer with preparation of fraud statistics for management reporting.

1. Create management reports and assist with preparing Board Reports within area of responsibility including fraud cases.

1. Interact with other bank investigators and industry peers in subjects related to fraud intelligence and fraud investigations.

1. Assist in updating the Security/Fraud Program and related reporting requirements to the Board of Directors and management.

1. Support fraud prevention by assisting in the development and delivery of training.

1. Perform monthly reconciliation of departmental GL accounts.

1. Provide reports and other requested items to auditors and regulators as needed.

1. Embraces the Bank's commitment to Solutions by seeking and recognizing opportunities to refer new business to different areas of the Bank, BayCoast Financial Services, BayCoast Insurance, Plimoth Investment Advisors, BayCoast Mortgage Company, LLC, and Priority Funding.

GENERAL

1. Maintains highly confidential information and may be required to perform confidential investigations into suspected internal and external fraudulent activity.
2. Embraces Bank's credo.
3. Assumes additional responsibilities as requested.

Knowledge/Skills/Experience Requirements:

• Bachelor's degree or its equivalent through specialized coursework and training. Certificates in Fraud Prevention or related areas a plus.
• At least 5 years of related experience within bank fraud; or equivalent combination of education and experience. Working knowledge of banking laws and regulations.
• Experience conducting complex and diverse Bank fraud investigations. Ability to conduct research and investigations using various sources including the ability to analyze data using fraud detection software.
• Ability to interface with other bank investigators and industry peers in subjects related to fraud intelligence and fraud investigations. Ability to communicate effectively with representatives from various lines of business and key stakeholders.
• Strong banking operations knowledge including various banking functions.
• Excellent analytical and problem-solving skills, written and verbal communications skills, attention to detail and strong time management skills.
• Ability to work independently, as well as collaboratively, within a team environment.
• Working knowledge of MS Office products, including Outlook, PowerPoint, Word, Excel, and fraud automated software-Verafin.

Equipment Used:

General office equipment

Physical/Work Condition Requirements:

In the performance of respective tasks and duties, the employee is expected to successfully perform the essential functions of the position. Reasonable employee accommodation for physical or mental disabilities will be considered on a case-by-case basis. While performing duties the employee is required to sit, talk, hear, lift up to 20 lbs., and may be required to work evenings and/or weekends, attend remote meetings and/or travel.