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Fraud Detection Associate

Company: Sumitomo Mitsui Banking Corporation
Location: White Plains
Posted on: June 4, 2021

Job Description:


The Fraud Detection Associate will report to the Anti-Fraud Manager assisting the 1st Line of Defense (1st LoD) to support SMBC'S Enterprise Wide, Anti- Fraud Risk Management Program.

In this function, they should be able to demonstrate the ability to independently review potential and real time fraud incidents for evaluating the circumstances of a known or perceived Fraud Incident in addition to predict and prevent fraudulent activity within the bank.

They will be responsible for following up on all open incidents to Identify red flags and fraud schemes. They will also review legacy incident data to determine fraud trends, evaluate fraud risk assessments to identify control gaps at the entity level, gather data to determine root cause and problem trends, liaison with relationship managers, 2nd LoD and other key stakeholders and generate ad-hoc and formal reports describing the incident and its ultimate conclusion.

The Associate role will be focused on assisting the VP Fraud Manager in the day to day operational activities of the 1st LoD. Additionally, they will assist with the execution and key aspects of the fraud risk assessment.

The scope of the First line of defense is to ensure the integrity of the organization, including being responsible for assessing, controlling, and mitigating risks in regard to fraud.

The Detection Associate will work closely with internal support teams such as: Financial Intelligence Unit (FIU), Controllers Team, BCDAD Operations, Legal, Risk, PDAD Planning, and Security (SOC) they will interact with various teams within Operations to communicate, understand and deter fraud against the Bank and its Customers.

This role requires the ability to conduct in-depth research of complex situations, use subject matter disciplines to solve difficult problems, execute various risk mitigation efforts and provide clear documentation of all findings.


  • Monitor Actimize Fraud, follow up on fraud incidents, mitigates potential fraud losses, performing root cause analysis, identify lessons learned, and educating employee and customers to raise fraud awareness.
  • Develop strong, collaborative relationships with key internal stakeholders to strategically develop, proactive anti-fraud responses to achieve the performance objective to mitigate risk.
  • Help enhance current 1st LoD procedures and coordinate first level alert reviews to identify potential fraud events. Escalate and liaise with Operations Management, Corporate Risk & Fraud Departments (2nd Line of Defense), and Audit (3rd Line of Defense) to ensure alignment.
  • Identify teams across multiple channels and organizations by assisting with the further development of common processes, alert monitoring, incident management response and reporting.
  • Assist the VP of ANTI-Fraud with developing, executing action plans for resolving the most common causes for dispute, through collaboration with operations, finance, compliance, external partners, etc.
  • Define and implement an organizational plan to manage this team while meeting the business needs, responding to changing fraud trends, driving efficiency and ensuring effective fraud alert management.
  • Responsible for ensuring all alerts are triaged timely and escalated to Compliance for further investigation, if necessary


Required Skills:

  • People management experience in operations or fraud team.
  • Superior analytical, critical thinking and decision-making skills.
  • Ability to manage conflict and challenge payment teams' processes and controls.
  • Ability to deal with ambiguity and define approaches to bring un-focused issues to resolution.
  • Strong communication and influencing skills.
  • Strong sense of ownership and accountability for work.
  • Excellent problem-solving skills.
  • Self-starter, ability to work with limited supervision.

Required Experience:

  • High school diploma or GED with a minimum of 7 years of dispute, fraud, compliance, operations and/or supervisory experience.
  • Experience in the evaluation, analysis and optimization of operational processes.
  • Bachelor's degree in a relevant business discipline and/or experience in Finance, Banking, Insurance or similar businesses is preferred.

Keywords: Sumitomo Mitsui Banking Corporation, White Plains , Fraud Detection Associate, Other , White Plains, New York

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