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Fraud Risk Manager

Location Medford, Massachusetts Req. Number210092-4 Category Administration, Management, Commercial Banking, Corporate Security, Corporate Full/Part Time F


The Fraud Risk Manager is accountable for monitoring and developing fraud risk strategies for Citizens Consumer Bank Deposit accounts. The risk manager will take the lead in the development of fraud processes, strategies and controls to mitigate fraud risk during the new account origination process while balancing customer experience, operational and product P&L impacts. Responsibilities include evaluation of new tools and processes to enhance detection, and reporting on overall Fraud losses and trends in addition to monitoring strategy performance. Reconcile numerous metrics and condense/summarize portfolio performance for our Executives and Business Partners.The incumbent will drive reductions in fraud application losses through effective rule and model management, analytics and partnership with Fraud Operations, Product team and external vendors.

Primary responsibilities include:

  • Monitor and develop fraud strategies, tools, processes, models and ensure that they deliver superior fraud detection while balancing approval rate and product P&L impacts. Explain variances and recommend remedial actions to all stakeholders.  Mine application data to develop segmentation to improve fraud detection and minimize impact to legitimate applications.

  • Strong partnership with vendors and Product team effectively managing the fraud controls for new-account application based on ROI

  • Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Risk Management Framework and internal Citizens Bank Policies and Policy Standards
  • Develop, implement, monitor and provide performance tracking of fraud strategies and fraud prevention tools and processes.
  • Conducts ongoing analysis to identify root cause of fraud trends and propose potential solutions
  • Effectively manages competing priorities of requests working under strict deliverables


Required Skills/Experience:

  • Bachelor’s degree in Operations Management, Mathematics, Statistics, Actuarial Sciences, Economics or other quantitative, business or technical discipline, or equivalent combination of education and business applied experience. Master’s degree preferred.

  • 5+ years of advanced analytics work experience preferably in Financial Services industry

  • Strong knowledge of the fraud management life cycle and industry trends

  • High proficiency with data extraction/mining tools (data processing and analysis) like SQL, SAS

  • Proficient with Microsoft Office applications; Advanced Excel. PowerPoint 

  • Strong problem solving and analytical skills

  • Excellent communications (oral and written), interpersonal / business partnering, and organizational skills

  • Strong knowledge of the fraud management life cycle and industry trends

  • Previous experience with managing fraud application risk at another financial institution is a plus

 Preferred Skills/Qualifications:

  • Strong knowledge of the fraud management life cycle and industry trends

  • Previous experience with managing fraud application risk at another financial institution is a plus

Hours and Work Schedule

Hours per week:  40

Work Schedule:  8:00am - 5:00pm, Monday - Friday


Why Work for Us

At Citizens, you'll find a customer-centric culture built around helping our customers and giving back to our local communities. When you join our team, you are part of a supportive and collaborative workforce, with access to training and tools to accelerate your potential and maximize your career growth.

Equal Employment Opportunity

It is the policy of Citizens to provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to race, color, ethnicity, religion, gender, pregnancy/childbirth, colleague or a dependent’s reproductive health decision making, age, national origin, sexual orientation, gender identity or expression, disability or perceived disability, genetic information, genetic characteristic, citizenship, veteran or military status, marital or domestic partner status, family status/parenthood, victim of domestic violence, or any other category protected by federal, state and/or local laws.

Equal Employment and Opportunity Employer/Disabled/Veteran