Fraud Prevention Officer

Full Time

Madison-Davis Client


The Fraud Risk Management Officer (aka the “Fraud Officer”) will be responsible for monitoring fraud prevention and detection, daily disposition of fraud alerts, measuring fraud risk management firm wide, and assisting the FVP & Compliance Officer (aka “Compliance Department Executive) with governance of the Bank’s anti-fraud program via ongoing risk assessment and timely escalation to the Bank’s Board of Directors. The Fraud Officer will have direct responsibility for the coordination and communication of fraud investigations, trend analysis and training both internally (of employees and contractors) and externally (of customers).

The Fraud Officer will assist with investigations conducted as a result of business-line referrals to the BSA Department or the Internal Audit Department, assist with collection efforts for cases charged off due to fraud, coordinate contact with law enforcement where appropriate, resolve daily fraud alerts and will maintain an ongoing log of active cases to ensure investigations are timely resolved. The Fraud Officer will assist the Compliance Department Executive with preparing reports on fraud trends for the Board of Directors, and conduct periodic training on internal controls, various hot topics and common fraud scams as needed. The Fraud Officer will be the primary liaison for all fraud-related investigations.


Fraud Officer: Serve as the Bank’s primary point of contact to fraud prevention and detective measures. This entails:

Daily disposition of fraud alerts

  • Providing periodic training of employees, contractors and senior executives and communicating fraud trends /scams and anti-fraud policies and procedures as well as educating customer-facing employees on how to identify potential fraud victims
  • Assisting the Legal and Compliance departments with law enforcement efforts by accepting responsibility as the Bank’s primary liaison between the Bank and law enforcement for filing suspicious activity reports and other claims when suspects have been identified and Suspicious Activity Reporting is necessary.
  • Assisting all business-lines with completing referrals to BSA Department and participating in fraud investigations (which may be conducted by the BSA Department or Internal Audit Department depending on the subject/fraud offense
  • Assisting the Compliance Department Head with periodic risk analysis and periodic reporting to the board, or board designated committee. Examples of effective board reports are those that contain the following information such that patterns, risk level and/or losses may be effectively measured:
    • Exception reports, unusual card activity, unauthorized transactions, file maintenance reports, fee waiver analysis, and employee surveillance processes [account monitoring, system access patterns], and overrides. The Fraud Officer is expected to work with the Bank’s Deposit Operations Director to ensure this activity is monitored and reports are available for analysis.
    • Data analytics (e.g., loss data analysis, transactions, fee waivers, interest forgiven, charge-offs, errors, and consumer complaint data). The Fraud Officer is expected to collaborate with the Compliance and Information Technology Departments to obtain these data.
    • Monitoring and analysis of civil and criminal subpoenas received by the bank or information requests under section 314 of the USA PATRIOT Act. The Fraud Officer is expected to liaise with the BSA Department and Legal Department to monitor these data.
    • Monitoring and analysis of Bank Secrecy Act report filings by the bank related to fraud. The Fraud Officer is expected to liaise with the BSA Officer to monitor this data.
    • Monitoring of news and other information concerning civil and criminal lawsuits. The Fraud Officer is expected to liaise with the Bank’s General Counsel to monitor this activity for reporting.
    • Information from Exit Interviews for departing employees; the fraud officer is expected to liaise with the Human Resources Department Executive to evaluate the usefulness of any relevant information extracted from exit interviews and determine the need for ongoing periodic background checks of existing employees.
  • Preparation of a Customer Education Program of fraud risks to augment customer awareness and reduce the risk of customers becoming victims of fraud. The Fraud Officer is expected to collaborate with the Compliance Department Executive to develop this program and determine its frequency.
  • Liaise with the Information Technology Director to ensure a sound information security system


  • Articulate with excellent written and verbal skills
  • Ability to make sound judgments with limited information
  • Proficient with Word and Microsoft Excel
  • Extremely detail oriented
  • Able to think beyond the task at hand, inquisitive
  • Able to multi-task
  • At least 10 years of banking experience or fraud and planning and project management experience
  • Experience analyzing and investigating fraudulent, illegal, or improper activities that could cause losses to or claims against a financial institution.
  • Some experience acting as a liaison to local, state, and federal law enforcement agencies on matters relating to fraudulent, illegal or improper transaction or a comparative 4-year degree or Fraud Certification is required.

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