Fraud Detection Associate
Company: Sumitomo Mitsui Banking Corporation
Location: White Plains
Posted on: June 4, 2021
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
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
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
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
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
- Develop strong, collaborative relationships with key internal
stakeholders to strategically develop, proactive anti-fraud
responses to achieve the performance objective to mitigate
- 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
- 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
- Responsible for ensuring all alerts are triaged timely and
escalated to Compliance for further investigation, if
- People management experience in operations or fraud team.
- Superior analytical, critical thinking and decision-making
- 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.
- High school diploma or GED with a minimum of 7 years of
dispute, fraud, compliance, operations and/or supervisory
- Experience in the evaluation, analysis and optimization of
- Bachelor's degree in a relevant business discipline and/or
experience in Finance, Banking, Insurance or similar businesses is
Keywords: Sumitomo Mitsui Banking Corporation, White Plains , Fraud Detection Associate, Other , White Plains, New York
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