Fraud Strategy, Money Movement Manager

Fraud Strategy, Money Movement Manager

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• Location 81 Wyman Street, Waltham, MA, 02451, United States

• Base Pay $150,000.00 - $210,000.00 / Year

• Job Category BSA

• Employee Type FT Exempt

Description

POSITION: Fraud Strategy Money Movement Manager

Position Summary:

At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being. We are committed to exceeding expectations and having a strong commitment to diversity. The Fraud Strategy Money Movement Manager plays a key role in supporting the Bank’s balancing of fraud risk with growth while also contributing to broader strategy development, data science and policy functions. This role is ideal for a versatile fraud fighting professional who can balance multiple priorities with hands-on involvement in the money movement strategy development of a community and digital banking environment.

This position partners closely with Product, Treasury, Consumer, Operations, BSA and Risk to ensure accurate, timely, and well-executed money movement fraud risk strategies. Ownership of consumer digital money movement strategies for Cambridge Savings Bank as well as its digital offering Ivy Bank is within this role’s scope.

Key Result Areas :

• Digital Transactional Money Movement Risk Strategy

o Build, monitor, report on and maintain the Bank’s transactional money movement fraud risk strategies.

o Select & monitor appropriate data sources and models to power the Bank’s money movement fraud risk strategies.

o Maintain the policy and procedure documentation regarding transactional money movement risk strategy.

o Partner with Operations, BSA and Risk teams to manage fraud and transaction volumes.

o Work with Product teams on feature development.

• Consumer Money Movement Limit Strategy

o Build, monitor, report on and maintain the Bank’s money movement limit strategies for daily and monthly amounts.

o Select & monitor appropriate data sources and models to power the Bank’s money movement limit strategies.

o Maintain the policy and procedure documentation regarding money movement limit strategy.

o Partner with Operations, BSA and Risk teams to manage the limit strategy appropriately within fraud loss goals, operational constraints and volume forecasts.

o Work with Product teams on feature development.

• Data, Controls & Process Improvement

o Construct and maintain fraud loss forecasting on existing account portfolios.

o Owner of transactions and money movement limit data pertaining to fraud.

o Support data governance and integrity initiatives in partnership with IT, Data, and Finance.

• Cross-Functional Collaboration

o Create and maintain accurate fraud strategy change documentation.

o Collaborate with Treasury on account valuation.

o Collaborate with internal and external teams to understand portfolio activity and emerging risks.

o Collaborate with Marketing’s Customer Journey team in balancing customer experience with fraud fighting initiatives.

o Represent the Bank at industry functions as subject matter expert.

o Support external audits, internal audits, and regulatory exams as requested.

o Backs up the acquisition fraud risk management function.

o Collaborates the acquisition fraud risk management function to create a trained back up.

o Consumer products will be the primary focus. Small business and commercial may receive attention from time to time.

o Provide ad hoc fraud analysis as needed.

• Perform additional duties as required.

Qualifications:

• Bachelor’s degree in a quantitative or quantitative business-related field.

• 10+ years of experience in financial services

• 5-7 years of experience in consumer money movement fraud strategy.

• Experience in a bank, fintech or financial institution strongly preferred.

• Working knowledge of “what is fraud”.

• Solid understanding of how fraud risk management works with the business to balance risk and reward.

• Able to write and execute query language code in SQL, R or Python (SAS is not and will not be an option).

• Advanced Excel skills (data analysis, pivot tables, forecasting, modeling).

• Experience with core banking, transactional risk management and fraud fighting software platforms.

• Strong attention to detail and accuracy.

• Ability to manage multiple responsibilities in a deadline-driven environment.

• Analytical mindset with the ability to interpret fraud, customer experience, financial and credit data.

• Strong communication skills—able to explain financial concepts clearly to non-Fraud Strategy partners.

The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities, the inclusion of which would be in conformity with the major purpose of this job.

Location: Hybrid/Waltham, MA Salary Range: $150,000 – $210,000

The reasonably estimated salary for this role at Cambridge Savings Bank ranges from $150,000 – 210,000. Cambridge Saving Bank will determine actual compensation for the role based on factors including, but not limited to, the successful candidate’s skills, qualifications, and experience. In addition, Cambridge Savings Bank offers a wide range of comprehensive and inclusive employee benefits for full-time roles including healthcare, parental planning, mental health benefits, performance bonus opportunities, a 401(k) plan and match, flexible time off, and others.

Visa Sponsorship: Cambridge Savings Bank is unable to sponsor or take over sponsorship of an employment visa for this role at this time.

About Cambridge Savings Bank:

Cambridge Savings Bank (https://www.cambridgesavings.com/) is a full-service banking institution with over $7 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. To learn more about how we 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.