Job Description:
Title “Director – Fraud Surveillance”
The Purpose of Your Role:
As a Team Leader Fraud Surveillance, you will be responsible for leading a team tasked with preventing financially motivated criminals from causing significant financial exposure to the firm. The team is tasked with vetting fraud detection output, and all aspects of responding to fraud incidents. Our environment is fast-paced and requires frequent changes in how we operate based on the latest criminal tactics. As the leader of this team, the candidate will have the opportunity to influence how we react to these changes and coach a team of highly motivated fraud analysts. You will also drive innovation and engage leadership stakeholders, learn from failures while celebrating success. You are committed to developing your own expertise and knowledge to ensure you bring the latest thinking to your role. You will be crucial to identify suspected frauds and assess the impacts of fraud incidents and accountable to meet Incident process and communication.
The Team:
Fraud Surveillance is part of Risk’s Financial Intelligence Unit (FIU) and plays a critical, role in the protection of Fidelity assets from account takeover, account owner fraud and Identity theft. Fraud Surveillance Analysts are working together with FIU’s Cyber Fraud Fusion Center and Investigation Teams as well as business partners across the enterprise.
The Value You Deliver:
- Accountable to build capability for customer account Fraud and Fraud Surveillance (Money Movement, Financial Fraud), manage team and influence global leadership stakeholders.
- Assess Fraud analytics to identify fraud trends / patterns, investigate suspected fraud and assess impact and leadership communication. Review business transaction behavior to identify suspected frauds. Fraud incidents caused due to (not limited to):
- Financial Transaction Fraud
- Third party transfer
- ACH, Wire transfer
- Debit & Credit card Fraud
- Account Takeover Fraud
- Account Owner Fraud
- Liaise with detection and analytics teams to help build out data models needed for fraud analytics.
- Capacity planning, Talent Development and Building team to enable 24X7 fraud prevention.
- Ensure closure of action points from fraud Investigations and present the Incident summary, learnings, new controls and process improvements to the management.
- Ensure fraud policies, processes and systems are aligned with changing regulatory and business need.
- Enable capability to monitor and build appropriate alerting / reporting for emerging fraud attacks.
- Enable automation of fraud identification & incident closure processes.
- Obtaining and monitoring reports from Audit, Collections, Customer Service, Finance, Credit, Risk, and Customer Complaints to identify red flags/ early warning signals of fraud
- Enable conducting periodic reviews of key processes and systems to identify gaps in terms of fraud and operational risk, and suggest controls to address the same
- Conduct investigations of customer frauds, including Root Cause Analysis and suggest measures to strengthen existing processes and systems
- Ability to build incident/case summary and present to leadership stakeholders
- Work with the Detection team to build & deploy fraud rules in production; and, to review adequacy of controls to mitigate fraud at the design stage
- Accountable for the strategic build-out of the fraud incidents metrics on a regular basis and continuous improvement
- Give feedback to Design fraud risk dashboards, identify high-risk areas & parameters, and resolve the same with relevant teams.
- Influencing operational efficiencies, policies & procedures
Required Skills:
- SME in setting up US Financial Surveillance capability, assessing financial frauds impacts
- Identify suspected Fraud from Login, Money movement, trading and business transactions.
- SME to detect Account Take Over, Identity theft and account owner frauds, identify Debit and credit card frauds, Third party money transfer frauds, Crypto currency fraud, suspicious financial activities
- You have very strong analytical, Critical thinking, communication and leadership skills
- Sound understanding of US Bank operations, financial operations, payments, money movement processes, and the fraud trends and controls.
- A total of 15 years of experience working in roles with responsibilities and a minimum of 5-7 years Fraud detection and Surveillance and additionally US Bank operations experience is preferred.
- Ability to communicate effectively with stakeholders and senior management, including Board Committee members, both verbally and in written presentations.
- Ability to balance risk, potential impact, resourcing, business drivers, and timelines
- Strong understanding of / ability to interpret regulatory requirements for financial services
The Expertise We’re Looking for:
- · Prior experience managing people preferred
- · Previous Risk/Supervisory/Compliance/Fraud/Anti-Money Laundering experience a plus
- · Detailed knowledge of brokerage and institutional operations
- Must have US Bank fraud operations expertise
How Your Work Impacts Organization:
Fidelity is rated as one of the most trusted brands in the US Financial industry and “Enterprise Cyber Security (ECS)” is one of the key contributors. Protecting customers’ assets is amongst the top priorities of Fidelity and ECS is entrusted with engaging initiatives to protect Fidelity’s information against diverse cyber threats. It’s a dynamic organization with a highly experienced and competent team with organization & operations aligned with NIST Cyber Security Framework. The team is focused on managing both classical as well evolving risk areas through an optimal combination of People, Process and Technology. Its operations span across the globe to have 24*7 protections to Fidelity’s assets.
Location: Chennai
Shift timings: Mostly Business as Usual, few times you will work during weekend and off Business hours for escalation.
Certifications:
Category:
Information TechnologyCompany overview
At Fidelity, we are passionate about making our financial expertise broadly accessible and effective in helping people live the lives they want! We are a privately held company that places a high degree of value in creating and nurturing a work environment that attracts the best talent and reflects our commitment to our associates. We are proud of our diverse and inclusive workplace where we respect and value our associate for their unique perspectives and experiences. For information about working at Fidelity, visit FidelityCareers.com. Fidelity Investments is an equal opportunity employer.
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Join us
At Fidelity, you’ll find endless opportunities to build a meaningful career that positively impacts peoples’ lives, including yours. You can take advantage of flexible benefits that support you through every stage of your career, empowering you to thrive at work and at home. Honored with a Glassdoor Employees’ Choice Award, we have been recognized by our employees as a top 10 Best Place to Work in 2024. And you don’t need a finance background to succeed at Fidelity—we offer a range of opportunities for learning so you can build the career you’ve always imagined.
Fidelity's working model blends the best of working offsite with maximizing time together in person to meet associate and business needs. Currently, most hybrid roles require associates to work onsite all business days of one assigned week per four-week period (beginning in September 2024, the requirement will be two full assigned weeks).
We invite you to Find Your Fidelity at fidelitycareers.com.
Fidelity Investments is an equal opportunity employer. We believe that the most effective way to attract, develop and retain a diverse workforce is to build an enduring culture of inclusion and belonging.
Fidelity will reasonably accommodate applicants with disabilities who need adjustments to participate in the application or interview process. To initiate a request for an accommodation, contact the HR Accommodation Team by sending an email to [email protected], or by calling 800-835-5099, prompt 2, option 3.
At Fidelity, we value honesty, integrity, and the safety of our associates and customers within a heavily regulated industry. Certain roles may require candidates to go through a preliminary credit check during the screening process. Candidates who are presented with a Fidelity offer will need to go through a background investigation and may be asked to provide additional documentation as requested. This investigation includes but is not limited to a criminal, civil litigations and regulatory review, employment, education, and credit review (role dependent). These investigations will account for 7 years or more of history, depending on the role. Where permitted by federal or state law, Fidelity will also conduct a pre-employment drug screen, which will review for the following substances: Amphetamines, THC (marijuana), cocaine, opiates, phencyclidine.
Benefits that adapt to everything life sends your way
Medical, accident, and life insurance
National Pension System with employer contribution
Family health services
Childcare allowance
Fidelity is invested in you
Committed to Professional Development
At Fidelity, we are constantly adapting to the changing needs of our customers, new technologies, and better ways of working. And we empower our employees to do the same, with an emphasis on developing skills and connections that will help propel you forward in your career while being able to make an impact for Fidelity’s customers around the world.
We offer a wide range of options for professional development including online, in-person, and mentor driven solutions. Special interest and networking groups are also part of our culture of empowerment, personal and professional enrichment, diversity and inclusion, and knowledge sharing.
Continuing Education & Training
- Assess, build, and align your development plan through resources like our skill-building classroom and online courses.
- Video-based training for technology, leadership, management & more.
- Ongoing skills development and coaching opportunities.
- Paid training with a facilitator who is dedicated to your onboarding and will track and evaluate your progress, giving you strategies to improve.
- A range of talent development programs to support career mobility.
Mentoring
- Utilize the skills of experienced leaders to enrich your career.
- Dedicated mentors to help you grow into new areas of Fidelity’s business as you develop new skills.
- An open atmosphere of knowledge sharing and collaboration.
- Opportunities to pay it forward, sharing the knowledge you develop and as you help others define how they want their career to take shape.
Our Commitment to Diversity and Inclusion
"Fidelity believes in, and is committed to, fair and equitable treatment for every associate and customer, and to creating a safe and respectful environment, in which everyone is treated with kindness, compassion and respect." Abby Johnson | Chairman and CEO Fidelity Investments
At Fidelity, we are committed to building an enduring culture of inclusion and belonging that will attract, develop and retain a diverse workforce.
Fidelity’s ten affinity groups are self-organized groups of employees with common interests in areas such as race, ethnicity, gender or sexual orientation, or who share similar interests based on similar sets of experiences.
These Employee Resource Groups and Special Interest Groups are models of inclusion for Fidelity. They’re also a powerful form of engagement and development and can provide a pathway to visible leadership roles. Our affinity groups make a large contribution on the business, helping to ensure our products and services are delivered in a welcoming and equitable environment.
- Over 22K employees participate in an affinity group.
- Over 1,400 affinity group members volunteered for Fidelity Cares in 2020.
- 74% increase in affinity group memberships over the last three years.
Giving Back to Our Communities
Throughout Fidelity, you’ll find a genuine commitment to social responsibility – where we strive to make an impact for customers, while also making an impact on the world.
Fidelity Cares
- Provides associates with opportunities to actively volunteer and share their talents.
- Hosts numerous company-wide volunteer events (in-person and virtual).
- Partners with nonprofit organizations to support our local communities.
- More than 12,000 associates donate time annually – from interns to SVPs.
- Impact includes refurbishing schools, donating books and supplies, and teaching financial literacy.
Fidelity Charitable®
- Created to make it easy for people to support charitable organizations they care about.
- Helped deliver $7.3 billion in donor-recommended grants to charity in 2019.
- Supported more than 300,000 unique charities around the world.
- Since its inception, more than $42 billion has been given to public charities.
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