Description:
Role Accountability
At Allegacy, there’s a common thread that runs through all of us. It’s our commitment to doing right and our promise to members to always do the right thing for their wellbeing. Every employee in our organization is accountable for living out our brand in meaningful ways as our promise motivates our beliefs, our behaviors and the benefits we share together. In order to achieve this state of success, this position will be responsible for ensuring that fraud losses are kept to a minimum by overseeing timely alert review, case completion and appropriate actions to prevent, mitigate or recover fraud losses.
Nature and Scope
This leadership role within the Fraud Department reports to the Director of Account Management Services and is responsible for overseeing fraud prevention, detection and investigative operations. The Fraud Manager serves as a working leader, supervising the fraud team while also personally handling complex fraud cases, monitoring alert queues and ensuring timely and accurate case resolution. This position requires in-depth knowledge of fraud schemes, investigative practices and the systems that support fraud monitoring and reporting, including Verafin, Visa Risk Manager and other analytics platforms.
The Fraud Manager collaborates closely with BSA/AML, Compliance, Investigations, Operations, Card Services, IT and front-line teams to ensure accurate documentation, timely escalation and adherence to regulatory expectations. The role is heavily involved in system configuration, rule adjustments, optimization of alert workflows and staff training to ensure efficient and effective fraud operations. The Fraud Manager regularly interacts with internal stakeholders across all departments as well as external partners such as law enforcement, vendors, system specialists and fraud-prevention networks.
This position ensures the effective operation of the credit union’s fraud-related processes, supports compliance with applicable regulations and contributes to the strategic goals of the AMS team by minimizing fraud risk and losses. Success in this role requires strong leadership, investigative expertise, analytical capability and the ability to drive continuous improvement while fostering a high-performance culture within the Fraud Department.
Specific Accountabilities
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Deliver exceptional member service to every member, every time by ensuring employees deliver consistently high quality service to both internal and external members that is in alignment with our Brand Culture.
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Ensure thorough understanding of expectations and consistently exhibit Allegacy shared values.
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Provide daily leadership, coaching and performance management for the Fraud Team to ensure accurate, timely and high-quality fraud operations.
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Monitor fraud alert queues, case aging and workload distribution to ensure timely review, investigation, escalation and closure.
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Actively work complex fraud cases, alerts, disputes, and account reviews as a working manager, ensuring high investigative accuracy and sound decision-making.
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Maintain expertise in fraud detection systems such as Verafin and Visa Risk Manager, including rule adjustments, system functionality, workflow optimization and staff training.
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Conduct in-depth analysis of transactional activity, data trends and operational patterns to detect and prevent fraudulent activity before losses occur.
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Prepare and deliver weekly, monthly, quarterly, and ad hoc fraud reports for AMS Leadership, Senior Management and the Board.
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Develop, implement and maintain fraud policies, procedures, writing instructions and training documents to ensure consistent and compliant operations.
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Lead ongoing improvement initiatives to strengthen fraud prevention practices, reduce operational gaps and enhance the member experience.
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Coordinate with BSA/AML, Compliance, Risk Management, Operations, Card Services, IT and external partners to support investigations and effective risk mitigation.
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Ensure accurate documentation of fraud cases, investigative steps, evidence and outcomes in accordance with audit and regulatory requirements.
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Oversee PTO scheduling, training needs and staffing levels to maintain adequate departmental coverage and operational continuity.
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Evaluate and recommend new fraud tools, system enhancements and technology solutions to increase detection accuracy and reduce losses.
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Serve as the primary point of escalation for high-risk or complex fraud situations requiring advanced judgment or coordination with law enforcement or external partners.
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Maintain strong working relationships with external vendors, fraud networks, law enforcement agencies and other credit unions or industry groups.
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Perform other duties as assigned to support departmental needs and evolving fraud-prevention priorities.
Requirements:
Knowledge, Skills and Abilities
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Advanced knowledge of fraud prevention, detection and investigation practices within financial institutions
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Strong understanding of fraud schemes, trends, regulations and industry best practices
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In-depth knowledge of fraud monitoring and case management systems (e.g., Verafin, Visa Risk Manager)
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Strong analytical skills with the ability to interpret complex data, identify patterns and apply critical thinking
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Advanced communication skills.
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Proficient computer skills, including fraud software, data analytics tools and core banking systems
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Ability to manage multiple tasks, deadlines, alert queues and shifting priorities in a fast-paced environment
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Advanced problem-solving abilities with sound judgment in high-risk decision-making situations
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High personal integrity, professionalism and reliability when handling sensitive or confidential information
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Strong interpersonal skills with the ability to listen, collaborate and respond effectively to internal and external partners
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Eligibility to be bonded
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Ability to create and implement strategies to reduce fraud risk and loss exposure
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Ability to provide guidance, coaching and support to the Fraud Department and other operational areas
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Proficiency in developing long-term fraud-prevention strategies aligned with organizational goals
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Ability to manage and resolve critical fraud situations effectively and with urgency
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Advanced skills in utilizing technology, analytics platforms and industry tools to enhance fraud detection and operational efficiency
Education and Experience
Bachelor’s degree preferred, especially in finance, business, criminal justice, cybersecurity, risk management or a related field
Associate degree acceptable with 7+ years of relevant fraud, risk or financial-crime experience
Minimum of 5–7 years of hands-on fraud investigation, fraud operations or financial crimes experience in a financial institution
Minimum of 2–4 years of supervisory or team-lead experience, preferably within fraud, risk or investigations
Past experience in a credit union or other financial institution strongly preferred
Experience working with fraud detection systems such as Verafin, Visa Risk Manager, or similar
Experience in a customer-service–focused environment preferred
Experience collaborating with BSA/AML, Compliance, Risk Management or Law Enforcement preferred
Experience with legal processes related to fraud cases, subpoenas, affidavits, law enforcement coordination or recovery efforts is a plus
Professional certifications (e.g., CFE, CAMS, AFIP) are preferred but not required
