Director of Fraud Management, Cambridge Savings Bank, Waltham, MA
Cambridge Savings Bank -
Waltham, MA,
US
Director of Fraud Management
Date Posted: 2024-05-08
Job description
POSITION: Director of Fraud Management
Summary:
At Cambridge Savings Bank, our purpose is to have apositive impact on our customers, employees, and community's financialwell-being. We are committed to exceeding expectations and having a strongcommitment to diversity and inclusion. TheDirector of Fraud Management operateswithin the first line of defense and is directly accountable to lead the CSBFraud Management function, in alignment with the Enterprise Risk and FraudManagement Framework. This role reports to the Director of Business RiskManagement and works collaboratively with the BSA, Enterprise Risk Management,Legal, and Compliance teams as well as key Business leaders to ensure Fraudrisk is appropriately managed, escalated and reported.
Key Result Areas:
Qualifications:
The above descriptioncovers the most significant major responsibilities but does not exclude otheroccasional responsibilities and accountabilities the inclusion of which wouldbe in conformity with the major purpose of this job.
Location:
Hybrid/Waltham, Massachusetts
About Cambridge Savings Bank:
Cambridge Savings Bank is a full-service banking institution with over $6 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. In March 2023, Kroll Bond Rating Agency affirmed CSB's investment-grade rating, reinforcing the bank's position as a reliable business lender. To learn more about how CSB can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370
Cambridge Savings Bank is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We are a VEVRAA Federal Contractor.
#LI-Hybrid
Summary:
At Cambridge Savings Bank, our purpose is to have apositive impact on our customers, employees, and community's financialwell-being. We are committed to exceeding expectations and having a strongcommitment to diversity and inclusion. TheDirector of Fraud Management operateswithin the first line of defense and is directly accountable to lead the CSBFraud Management function, in alignment with the Enterprise Risk and FraudManagement Framework. This role reports to the Director of Business RiskManagement and works collaboratively with the BSA, Enterprise Risk Management,Legal, and Compliance teams as well as key Business leaders to ensure Fraudrisk is appropriately managed, escalated and reported.
Key Result Areas:
- Lead and execute the Bank's Fraud Risk Management Strategy, ensuring thesafety and security of the Bank and its Clients financial transactions
- Develop and execute comprehensive fraud prevention, detection,investigation, and recovery strategies; ensure that appropriate processes,procedures and controls are in place to minimize fraud loss. Fraudinvestigations may include collaboration with law enforcement agencies asnecessary.
- Lead, mentor, and empower a team of fraud professionals toeffectively identify, escalate, and manage fraud-related incidents.
- Perform root cause analysis and develop corrective action plans forlarge fraud losses.
- Establish expectations, ownership, and accountability forcontinuous process improvement among fraud operations process and controlowners.
- Reporting and Analysis: Provide reporting on fraud trends, incidents,and key metrics to CSB executive management and other key stakeholders
- Communication and Training: Act as central point of contact betweenthe Fraud Risk Governance and Business Units to ensure communication of fraudrisk related protocols and other information.
- Risk and Compliance: Adhere to Enterprise Risk & Fraudframeworks, policies and standards, and report and escalate exceptions tofacilitate business line corrective actions. Ensure that fraud management processes complywith applicable state and federal regulations. Execute self-assessments relatedto fraud processes, risks, controls, and quality assurance testing.
- Continuous Monitoring: monitor all sources of fraud risk existingwithin Operations and externally. Engage in research, peer networking, andexperience to anticipate critical fraud risk issues.
- Perform additional duties as required.
Qualifications:
- Bachelor's degree preferred.
- 5 years of Financial Services experience.
- 5 years of Fraud and Risk Management experience.
- CFE, CFCI, CAMS, CFCS or other industryaccreditation preferred.
- Strong understanding of Fraud Operations and core banking systems (fraud,loan, deposits, payments and digital) and the business processes they support.
- Successful track record in managing complex fraud incidents,including investigations, root cause analysis, and implementation ofcorrective action plans.
- Excellent communication skills, including an ability to influencestakeholders across the organization, to speak effectively in small andlarge-group settings.
- Strong attention to detail in a fast-paced work environment.
- Demonstrated leadership experience, either through directleadership or coaching / mentoring roles.
The above descriptioncovers the most significant major responsibilities but does not exclude otheroccasional responsibilities and accountabilities the inclusion of which wouldbe in conformity with the major purpose of this job.
Location:
Hybrid/Waltham, Massachusetts
About Cambridge Savings Bank:
Cambridge Savings Bank is a full-service banking institution with over $6 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. In March 2023, Kroll Bond Rating Agency affirmed CSB's investment-grade rating, reinforcing the bank's position as a reliable business lender. To learn more about how CSB can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370
Cambridge Savings Bank is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We are a VEVRAA Federal Contractor.
#LI-Hybrid