Director of Fraud

Location: MD - Silver Spring

Description

 

Job Description

 

 

Position: Director Fraud                                            Reports To:  SVP of Financial Services

Location:    Silver Spring or Remote                             Department: ONE VIP  

FLSA:         Exempt                                                       Station: N/A         

 

Mandate To oversee, lead and manage the “fraud” operations associated with the ONE VIP Card Program, both cardholder identify verification (CIP) and transactional fraud.

           

 

Main Responsibilities:

  • SAR & Monitoring
  • Fraud (CIP)
  • Fraud (Transactional)
  • Black List
  • Manage third party parties for performance
  • Interpret analytics and reporting to optimize customer experience, revenue and cost control
  • Ensure compliance with PCI and other applicable regulations
  • Support ONE VIP in achieving goals and financial performance targets
  • Support other functions; Technology, Finance, Legal, Marketing as required
  • Support investigations and responses to subpoenas and complaints as required
  • Support SVP of Financial Services as required
  • Plan for cost optimization and insourcing / outsourcing as required
  • Build a team as required

 

 

Objectives (by Responsibility)

 

SAR & Monitoring

  • Decision and respond to Escalations received from third party service providers, relevant to CIP or Fraud, in a timely manner, in accordance with policies, ensuring optimal customer experience and compliance.

Fraud (CIP)

  • Ensure that CIP policies are followed correctly, ensuring compliance with BSA/AML, Bank, OFAC laws and regulations.  Evolve and optimize CIP procedures and policies, to maximize customer experience, pass rate and compliance.

Fraud (Transactional)

  • Decision and respond to Escalations received from third party service providers, relevant to transactional Fraud, in a timely manner, in accordance with policies, ensuring optimal customer experience, compliance and minimal financial exposure.  Monitor for patterns, detect and stop fraud.  Use learnings to optimize fraud controls and mitigate fraud losses. Maintain fraud losses at a minimum and at a best in industry standard.

Black List

  • Maintain Black Lists to block fraudulent actors using known fraud data elements.

Manage third party parties for performance

  • Manage third party partners to optimize fraud (both CIP & Transactional) service performance, customer experience, compliance and cost optimization, whilst mitigating financial exposure.

Interpret analytics and reporting to optimize customer experience, revenue and cost control

  • Utilize reporting and analytics to understand and optimize card program performance in terms of customer experience, revenues and cost reduction.

Ensure compliance with PCI and other applicable regulations

  • Ensure all operations are performed according to industry best practices, corporate policies and in compliances with external regulations, internal policies and our contractual obligations.

Support ONE VIP in achieving goals and financial performance targets

  • Contribute to the team and program to achieve annual goals and financial performance targets.

Support other functions; Technology, Finance, Legal, Marketing as required

Support investigations and responses to subpoenas and complaints as required

Support SVP of Financial Services and perform other duties as required

Plan for cost optimization and insourcing / outsourcing as required

Build a team as required

 

 

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions:

 

  • 6+ years of Open Loop Prepaid Card experience, across the full prepaid value chain, with a demonstrable track record of achievements. Specific experience gained with Program Managers and Issuing Processors preferred. Specific experience with General Purpose Reloadable Cards preferred.
  • Demonstrable knowledge of Prepaid Card best practices and industry norms.
  • Demonstrable track record of leadership and management in technology and open loop prepaid card operations.
  • Knowledge of different prepaid value chain service providers and relevant strengths/ weaknesses.
  • Demonstrable experience in the areas of Fraud, SAR, CIP/KYC, Black Lists and prepaid operations in general.
  • Diverse working knowledge of bank related laws (federal and state) and regulations, PCI, Reg E, BSA, AML/ATF, CIP, Fraud, identity theft, network operating rules and settlement.
  • Knowledge of Visa DPS Processing Platform advantageous.
  • Customer centric with excellent service experience to all customers (external and internal) and ability to instill this passion in others.
  • “Roll-up-your sleeves” entrepreneurial approach desired.  Ability to plan strategically and act tactically.
  • Ability to get involved and accomplish results, demonstrating subject matter expertise and competence without the need for either direction or a large support team.
  • Ability to prioritize work and manage multiple concurrent responsibilities in a professional and timely manner. Ability to adapt/respond quickly to change/new information.
  • Excellent interpersonal skills (tactfulness, cooperation, courteousness and customer friendliness) are necessary to represent Urban One in a positive manner.  Must have a proven track record of effectively working in cross-functional teams, communicating effectively with the vendors/partners, customers, and internal teams.
  • Excellent written communication skills with demonstrated ability to write communications clearly, concisely and effectively, with attention to detail.
  • Excellent verbal communication skills with the demonstrated ability to effectively present information to customers and management.
  • Excellent planning, organizational and analytical skills with attention to detail and accuracy.
  • Ability to maintain confidentiality and handle sensitive information.
  • Ability to work independently as well as collaboratively within a team environment.

 

 

 

 

 

Education and/or Experience

Bachelor’s degree in Engineering, Technology, Business or Finance is preferred; otherwise, must have a combination of applicable education and experience. Have strong computer skills with a proficiency in MS Word, Excel, PowerPoint, Project and Outlook.

 

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* Professionalism is described as being consistently appropriate in all situations and at all times.

*Competence is defined as using “effectiveness and efficiency” in equal measure at all times.

 

We are an Equal Opportunity Employer





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