Supervisor, Fraud Detection & Investigation

The Supervisor, Fraud Detection & Investigations is responsible for the detection of fraud on cardholder (debit and credit) accounts and merchants' portfolios.

Purpose of Role:
 
The Supervisor, Fraud Detection & Investigations is responsible for the detection of fraud on cardholder (debit and credit) accounts and merchants’ portfolios through the management and motivation of a team of security professionals undertaking investigations of incidents uncovered with a view of recovery of 25% to 30% of gross losses through chargeback and litigation. The incumbent makes recommendations on current and future strategies to mitigate fraud exposure based on experience to the Fraud and Risk Manager. The Supervisor also manages the AML monitoring and unusual activity reporting to Head Office, working with the Cards compliance team to reduce the risk levels within the business and manages the relationship with law enforcement agencies / bodies regionally. The incumbent may also deputises for the Manager, Cards Fraud & Risk as required.
 
Key Activities

• Oversight of acquiring volume $1 billion and issuing volumes of $500 million to achieve annual write offs of < $850,000 This involves building and maintaining detection processes that capture every transaction that passes through CIBC issuing and acquiring portals with assessment of the incremental risk to the business.
• Manages work queues for fraud management systems and compromised cards to ensure timely identification of any suspicious activity on the portfolio by assigning work packages to analysts and ensuring efficient staffing distribution for issuing and acquiring respectively. Through spot checks and reviews ensures that customer disruption is kept to a minimum through timely completion of queues with feedback provided to prevention analyst on ineffective rules.
• Manages investigations of all criminal fraudulent activity against the card and merchant services products and remediates weaknesses. This will involve examining documents, conducting interviews, visiting merchant premises, engaging law enforcement. For example this may involve visiting merchants that may have been compromised and looking at the sales information and employee schedules and observing the merchant operations and sometimes working with the police and immigration to determine the movement of certain groups and giving guidance to the junior investigators but on more sensitive cases, e.g. internal fraud to carry out the actual investigation.
• Produces accurate management information on the productivity and effectiveness of the security team to allow management to make strategic decisions on staffing levels and hours for fraud monitoring team  This will involve collating data from Visa Risk Manager and the PowerCard fraud tool and fraud trends as published by the prevention analyst in to a weekly deck.
• Builds processes to identify incidents that could indicate money laundering and report such findings to the Fraud & Risk Manager and the Compliance team, for example, identifies incidents / trends where persons are using / abusing payment providers to undertake illegal activities (funnel money across borders for non-arm’s length transactions), then working with the vendors and Card Operations to develop / create reports that identify / isolate the idiosyncrasies of the transactions.
• Assists the Fraud and Risk Manager in the adjudication of merchant applications from a business risk and credit risk perspective. Undertakes periodic reviews as required ensuring continued reduction and maintenance of fraud to sales ratios for merchant portfolio through the identification of negative behaviours that lead to chargebacks and non-credit losses.
• Maintains relationships with local law enforcement, security service providers, and other external parties to ensure alacrity in dealing with cases involving FCIB and to procure intelligence regarding the operations of illicit groups operating across the region.  This will involve providing subject matter expert guidance on non-bank cases and providing training at law enforcement events and various police training sessions across the region.
• Ensures that security procedures and measures of relevant schemes / associations are kept up to date and adhered to by keeping up to date with industry journals and passing all best practices on to the team and ensuring that procedures and performance plans are appropriately updated.
• Identifies and closes skills gaps and training needs in the team by effective counselling, training, coaching and use of personal development plans.

 
Knowledge/Skills Required:
 

• In depth knowledge of card association security rules and key mandates, e.g. EMV & PCI
• Understanding of neural networks
• Knowledge of operational aspects of the card business
• Familiarity with loss management policies & procedures
• Knowledge of the Bank’s main systems ICBS, CMS, ABT and Credit Card Systems
• Office suite with emphasis on Excel & Microsoft Access
• Knowledge of investigative practices and process.

• Highly analytical
• Highly proactive and responsive to change
• Innovative
• Highly customer oriented
• Skilled communicator to be able to communicate decisions (especially declines) in a manner to easily convey Head Office point of view whilst achieving buy-in where possible, of submitter.
   

 Experience Required:

• At least five years’ banking experience in a retail or card environment
• Experience in staff management and motivation
• Bachelor’s degree in banking & finance an asset but not essential
• At least three years in a card centre environment working with both issuing and acquiring
• 3 years’ risk management experience.

You will be required to work outside the normal business hours on a shift basis (inclusive of public holidays). You may be rostered to work on staggered schedules to meet business demands.

Position reports to: Manager, Fraud & Risk