ID Theft Fraud Strategist - UMB Bank
Kansas City, MO
About the Job
Duties & Responsibilities
This position will report directly to the Manager, Fraud Strategy and Analytics and will be responsible for the control and management of ID theft fraud risk within the bank’s fraud program. The ID Theft Fraud Strategist develops and implements fraud rules and strategies to effectively control risk associated with Account Takeovers, Fraudulent Applications, online banking scams, risk payments (‘PayFloat’ strategies), and failed authentication. This role requires a blend of analytical expertise, strategic thinking, and collaboration with cross-functional teams stay ahead of emerging ID Theft fraud trends.
Key Responsibilities:
Ownership of ID Theft Fraud Mitigation Strategies
+ Supports UMB’s protection against multi-product, multi-channel payment ID Theft fraud risk across various lines of business (Consumer, Commercial, Institutional Banking). These payment types/channels will include Card (Debit and Credit), Check and Deposits, Digital Online Banking (Transfers, Bill Pays), Wire, ACH, Mobile, Realtime / Instant payments.
Fraud Detection and Analysis
+ Ensure fraud tools, risk models, solutions are effective in proactively identifying and detecting frauds associated with stolen identities, synthetic identities, and ‘True Name’ identities (‘Credit Abuse’ cases) at the origination stage, as well as post-booking ID fraud and first-party abuse (including Credit Card ‘Bust Out’, OLB Scams.
+ Conduct detailed investigations and reporting on new account origination fraud, first-party abuse cases, stolen or synthetic ID fraud along with similar cases. Work closely with the Director, Fraud Operations to implement appropriate changes to procedures/processes to maximize efficiency and effectiveness of the team.
Strategy Development
+ Gather and analyze data on first-party alerts/cases worked by the team of fraud analysts in order to understand the effectiveness of processes and identify the opportunities to develop better tactical approaches, greater agent expertise, and more suitable fraud detection solutions. Work with the Director, Fraud Operations to assist and support in the implementation of new fraud processes related to ID theft.
Performance Monitoring
+ Investigate fraud trends and losses to identify opportunities to improve effectiveness of fraud strategies and make required changes in a timely manner. Monitor performance of fraud rules post implementation to ensure results/performance are within expectation. Report ID theft fraud performance and metrics monthly to business leads.
+ Support the analysis and assessment of external vendors performance (including monitoring of existing vendor SLAs etc.).
Governance and Compliance
+ Ensure compliance with all regulatory requirements. Works closely with product partners to identify new product fraud risks and develop/implement appropriate controls and safeguards to effectively mitigate risk.
Collaboration and Communication
+ Communicates regularly with peer banks and industry organizations to maintain awareness of industry risks and trends related to financial fraud and in particular ID Theft, synthetic IDs and customer impersonations.
+ Must stay current with UMB’s fraud policies and procedures. Furnishes and delivers professional presentations and fraud-performance reports at various forums and committees to multiple levels of leadership.
Support/Champion ID Theft Fraud Initiatives
+ Must be familiar with principles of project management. Support new initiatives to ensure fraud risk gaps are identified and addressed.
+ Must be able to deliver to stringent timelines consistently.
+ Other duties as assigned.
Knowledge & Skills
_MINIMUM:_
+ Solid understanding of ID Theft and First-Party fraud, and the strategies and tools to control such fraud risk (ATO, ID Theft, Synthetic, ‘Credit Abuse’/ ‘Bust Outs’)
+ Strong analytical problem-solving skills with ability to evaluate business problems and find optimal solutions.
+ Excellent verbal and written communication skills
+ Demonstrates knowledge of report building and presentation of analysis results
+ Demonstrates ability to work proactively & collaboratively in a team environment.
+ Demonstrates ability to manage time and meet deadlines.
+ Demonstrates ability to work proactively & collaboratively in a team environment.
+ Implementation of KPIs/KRIs (metrics) to measure fraud performance.
+ Reporting software expertise (MS Power BI)
_PREFERRED:_
+ Working knowledge of Processor platforms (TSYS, FDR, FIS, others) tools/solutions
+ Experience with industry fraud tools and risk models (FICO, LexisNexis, others)
+ Experience creating Business Requirement Documents
+ Experience in User Acceptance Testing
+ Advanced knowledge of data analytics and visualization tools (Power BI; RapidMiner)
Requirements
_MINIMUM:_
+ College graduate
+ Minimum of 2 years’ experience in an ID Theft fraud strategy role within a Lending institution
+ 4 years direct experience managing financial fraud linked to ID theft and synthetic identities.
_PREFERRED:_
+ 6+ years fraud management experience covering Card and ‘non card’ (Deposits, Check, Digital/Online Banking) fraud detection.
Work Environment
+ Normal office environment
Supervision/Management: Individual contributor managing strategies to combat ID theft / customer impersonation fraud risk.
Compensation Range:
$57,760.00 - $124,170.00
_The posted compensation range on this listing represents UMB’s standard for this role, but the actual compensation may vary by geographic location, experience level, and other job-related factors. In addition, this range does not encompass the full earning potential for this role. Please see the description of benefits included with this job posting for additional information_
UMB offers competitive and varied benefits to eligible associates, such as Paid Time Off; a 401(k) matching program; annual incentive pay; paid holidays; a comprehensive company sponsored benefit plan including medical, dental, vision, and other insurance coverage; health savings, flexible spending, and dependent care accounts; adoption assistance; an employee assistance program; fitness reimbursement; tuition reimbursement; an associate wellbeing program; an associate emergency fund; and various associate banking benefits. Benefit offerings and eligibility requirements vary.
Are you ready to be part of something more?
You're more than a means to an end—a way to help us meet the bottom line. UMB isn't comprised of workers, but of people who care about their work, one another, and their community. Expect more than the status quo. At UMB, you can expect more heart. You'll be valued for exactly who you are and encouraged to support causes you care about. Expect more trust. We want you to do the right thing, no matter what. And, expect more opportunities. UMBers are known for having multiple careers here and having their voices heard.
_UMB and its affiliates are committed to inclusion and diversity and provide employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex (including gender, pregnancy, sexual orientation, and gender identity), national origin, age, disability, military service, veteran status, genetic information, or any other status protected by applicable federal, state, or local law. If you need accommodation for any part of the employment process because of a disability, please send an e-mail to_ _talentacquisition@umb.com_ _to let us know the nature of your request._
_If you are a California resident, please visit our_ Privacy Notice for California Job Candidates (https://p1.aprimocdn.net/umb/cdbf5f22-8f7a-43b9-bd03-b09f014a39c3/Privacy_Notice_for_California_Candidates_Original_file.pdf) _to understand how we collect and use your personal information when you apply for employment with UMB._
_Who we are_
We are more than a company. We are advisors, consultants, problem solvers, friends, community members, experts, and we are here to help you make the best of every moment with a financial foundation that can help you succeed.
Learn more about UMB's vision (https://p1.aprimocdn.net/umb/8cf58ce2-e9d6-4621-b60a-b09f01638943/UMB_Tuce_Book_Original_file.pdf)
Check out the road to a career at UMB
This position will report directly to the Manager, Fraud Strategy and Analytics and will be responsible for the control and management of ID theft fraud risk within the bank’s fraud program. The ID Theft Fraud Strategist develops and implements fraud rules and strategies to effectively control risk associated with Account Takeovers, Fraudulent Applications, online banking scams, risk payments (‘PayFloat’ strategies), and failed authentication. This role requires a blend of analytical expertise, strategic thinking, and collaboration with cross-functional teams stay ahead of emerging ID Theft fraud trends.
Key Responsibilities:
Ownership of ID Theft Fraud Mitigation Strategies
+ Supports UMB’s protection against multi-product, multi-channel payment ID Theft fraud risk across various lines of business (Consumer, Commercial, Institutional Banking). These payment types/channels will include Card (Debit and Credit), Check and Deposits, Digital Online Banking (Transfers, Bill Pays), Wire, ACH, Mobile, Realtime / Instant payments.
Fraud Detection and Analysis
+ Ensure fraud tools, risk models, solutions are effective in proactively identifying and detecting frauds associated with stolen identities, synthetic identities, and ‘True Name’ identities (‘Credit Abuse’ cases) at the origination stage, as well as post-booking ID fraud and first-party abuse (including Credit Card ‘Bust Out’, OLB Scams.
+ Conduct detailed investigations and reporting on new account origination fraud, first-party abuse cases, stolen or synthetic ID fraud along with similar cases. Work closely with the Director, Fraud Operations to implement appropriate changes to procedures/processes to maximize efficiency and effectiveness of the team.
Strategy Development
+ Gather and analyze data on first-party alerts/cases worked by the team of fraud analysts in order to understand the effectiveness of processes and identify the opportunities to develop better tactical approaches, greater agent expertise, and more suitable fraud detection solutions. Work with the Director, Fraud Operations to assist and support in the implementation of new fraud processes related to ID theft.
Performance Monitoring
+ Investigate fraud trends and losses to identify opportunities to improve effectiveness of fraud strategies and make required changes in a timely manner. Monitor performance of fraud rules post implementation to ensure results/performance are within expectation. Report ID theft fraud performance and metrics monthly to business leads.
+ Support the analysis and assessment of external vendors performance (including monitoring of existing vendor SLAs etc.).
Governance and Compliance
+ Ensure compliance with all regulatory requirements. Works closely with product partners to identify new product fraud risks and develop/implement appropriate controls and safeguards to effectively mitigate risk.
Collaboration and Communication
+ Communicates regularly with peer banks and industry organizations to maintain awareness of industry risks and trends related to financial fraud and in particular ID Theft, synthetic IDs and customer impersonations.
+ Must stay current with UMB’s fraud policies and procedures. Furnishes and delivers professional presentations and fraud-performance reports at various forums and committees to multiple levels of leadership.
Support/Champion ID Theft Fraud Initiatives
+ Must be familiar with principles of project management. Support new initiatives to ensure fraud risk gaps are identified and addressed.
+ Must be able to deliver to stringent timelines consistently.
+ Other duties as assigned.
Knowledge & Skills
_MINIMUM:_
+ Solid understanding of ID Theft and First-Party fraud, and the strategies and tools to control such fraud risk (ATO, ID Theft, Synthetic, ‘Credit Abuse’/ ‘Bust Outs’)
+ Strong analytical problem-solving skills with ability to evaluate business problems and find optimal solutions.
+ Excellent verbal and written communication skills
+ Demonstrates knowledge of report building and presentation of analysis results
+ Demonstrates ability to work proactively & collaboratively in a team environment.
+ Demonstrates ability to manage time and meet deadlines.
+ Demonstrates ability to work proactively & collaboratively in a team environment.
+ Implementation of KPIs/KRIs (metrics) to measure fraud performance.
+ Reporting software expertise (MS Power BI)
_PREFERRED:_
+ Working knowledge of Processor platforms (TSYS, FDR, FIS, others) tools/solutions
+ Experience with industry fraud tools and risk models (FICO, LexisNexis, others)
+ Experience creating Business Requirement Documents
+ Experience in User Acceptance Testing
+ Advanced knowledge of data analytics and visualization tools (Power BI; RapidMiner)
Requirements
_MINIMUM:_
+ College graduate
+ Minimum of 2 years’ experience in an ID Theft fraud strategy role within a Lending institution
+ 4 years direct experience managing financial fraud linked to ID theft and synthetic identities.
_PREFERRED:_
+ 6+ years fraud management experience covering Card and ‘non card’ (Deposits, Check, Digital/Online Banking) fraud detection.
Work Environment
+ Normal office environment
Supervision/Management: Individual contributor managing strategies to combat ID theft / customer impersonation fraud risk.
Compensation Range:
$57,760.00 - $124,170.00
_The posted compensation range on this listing represents UMB’s standard for this role, but the actual compensation may vary by geographic location, experience level, and other job-related factors. In addition, this range does not encompass the full earning potential for this role. Please see the description of benefits included with this job posting for additional information_
UMB offers competitive and varied benefits to eligible associates, such as Paid Time Off; a 401(k) matching program; annual incentive pay; paid holidays; a comprehensive company sponsored benefit plan including medical, dental, vision, and other insurance coverage; health savings, flexible spending, and dependent care accounts; adoption assistance; an employee assistance program; fitness reimbursement; tuition reimbursement; an associate wellbeing program; an associate emergency fund; and various associate banking benefits. Benefit offerings and eligibility requirements vary.
Are you ready to be part of something more?
You're more than a means to an end—a way to help us meet the bottom line. UMB isn't comprised of workers, but of people who care about their work, one another, and their community. Expect more than the status quo. At UMB, you can expect more heart. You'll be valued for exactly who you are and encouraged to support causes you care about. Expect more trust. We want you to do the right thing, no matter what. And, expect more opportunities. UMBers are known for having multiple careers here and having their voices heard.
_UMB and its affiliates are committed to inclusion and diversity and provide employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex (including gender, pregnancy, sexual orientation, and gender identity), national origin, age, disability, military service, veteran status, genetic information, or any other status protected by applicable federal, state, or local law. If you need accommodation for any part of the employment process because of a disability, please send an e-mail to_ _talentacquisition@umb.com_ _to let us know the nature of your request._
_If you are a California resident, please visit our_ Privacy Notice for California Job Candidates (https://p1.aprimocdn.net/umb/cdbf5f22-8f7a-43b9-bd03-b09f014a39c3/Privacy_Notice_for_California_Candidates_Original_file.pdf) _to understand how we collect and use your personal information when you apply for employment with UMB._
_Who we are_
We are more than a company. We are advisors, consultants, problem solvers, friends, community members, experts, and we are here to help you make the best of every moment with a financial foundation that can help you succeed.
Learn more about UMB's vision (https://p1.aprimocdn.net/umb/8cf58ce2-e9d6-4621-b60a-b09f01638943/UMB_Tuce_Book_Original_file.pdf)
Check out the road to a career at UMB
Source : UMB Bank