Fraud Product Owner
- Develop, implement, and manage first line fraud product strategy and practice to ensure comprehensive coverage of internal and external fraud. Ensure adequacy of coverage for end-to-end processes that span multiple businesses.
- Understand upcoming threats and formulate fraud risk strategies and design and develop solution in partnership with technology organization to mitigate the risk
- Actively engage assigned units, subsidiary and affiliates to ensure that the fraud risk practice is balanced, comprehensive and a transparent reflection of CNB compared to risk appetite.
- Work directly with the leadership team to embed an understanding of the fraud risk profile and risk appetite into strategic decision making; challenge decision making that contradicts profile and risk appetite.
- Requirement Gathering and Analysis: Collaborate with stakeholders, including fraud analysists, risk managers and technology teams to gather requirements for fraud detection and prevention systems. Analyze and prioritize requirements based on business impact and feasibility
- Translate requirements into detailed specifications and design fraud prevention and detection solutions. Create a roadmap for system enhancements and new features considering both short term goals and long term vision
- Design the solution and build requirement for tool to support the reporting of fraud risk profiles, analysis and exposures to the Executives, Senior Management and RBC on a regular basis. Reporting should include existing and emerging areas of risk, implications for operational risk appetite, and the ability of the risk management and control infrastructure to support business activities.
- Quality Assurance and Testing: Collaborate with the quality assurance teams to define test plans and ensure the effectiveness of fraud detection algorithms and systems. Conduct user acceptance testing to validate the functionality and performance of the developed solutions
- Identify requirements for deep dive, initiate or lead deep dive assessments in the bank, as required.
- Participate in committees or associated governance/review activities on key business initiatives ensuring that existing and emerging fraud risks for new products, processes and transformational initiatives are identified.
- Bachelor's Degree or equivalent
- Minimum 8 years in a combination of fraud risk management and designing fraud strategy to mitigate the risk
- Minimum 6 years banking/financial services and/or technology industry experience.
- Minimum 5 years of experience in designing the fraud prevention products with Financial institutes or tech industry
- Expert knowledge of Fraud Risk Management frameworks, policies and practices
- Strong leadership skills
- Proven business knowledge within the assigned Platform
- Strategic mindset, with excellent knowledge and understanding of banking/financial services
- Highly developed ability for conceptual thinking
- Excellent communication and presentation skills
- Well developed impact and influence skills
- Proven track record of building strong relationships across business functions
- Law enforcement or investigative background
- Experience in cybercrimes, financial fraud investigations, trading or sales fraud investigations
- Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
- Generous 401(k) company matching contribution
- Career Development through Tuition Reimbursement and other internal upskilling and training resources
- Valued Time Away benefits including vacation, sick and volunteer time
- Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
- Career Mobility support from a dedicated recruitment team
- Colleague Resource Groups to support networking and community engagement
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
*Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications. careers.cnb.com accepts applications on an ongoing basis, until filled.
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