VP, Fraud Prevention - Patelco Credit Union

About Patelco Credit Union:

Patelco Credit Union is a not-for-profit credit union with a purpose to build financial health and wellbeing for our members. Since 1936, Patelco has grown from $500 in assets to over $9 billion in assets and is the 7th largest credit union in California with branches throughout Northern California.

 

We are here for our members throughout all their stages of life. Meeting them with the products and services to help them plan purposefully for their futures and to secure our life-long partnership as their trusted financial advocate. As one team, we are all committed to delivering service, empowering financial literacy, creating products, and providing new technology for our members.

 

We believe that work should be rewarding, challenging, and enjoyable. We’re dedicated to creating a positive and supportive culture where our team members can thrive. If you’re looking to use your skills and knowledge to make a difference in our members’ lives, Patelco could be the perfect fit for you.

Overview:

We’re here to help people in communities throughout Northern California build financially healthy lives. We do this by being attentive and partnering with our members to understand what is financially best for them. We thrive on change, and we put people first. If you’re looking to use your skills and knowledge to make a difference in the lives of others, we look forward to hearing from you.

 

The Opportunity

Fraud in the financial services industry continues to increase with more in-depth and complex fraud schemes. Addressing and mitigating these ever-increasing risks require forward thinking and strategic assessment on how to predict the next possible fraud scheme and prevent/limit fraud losses. Patelco is seeking a Vice President of Fraud Prevention to develop and oversee our overall fraud prevention and protection strategy, ensuring that Patelco appropriately balances fraud prevention, detection, and loss/root cause analysis. This position interacts with senior management, business managers, and other credit union disciplines to understand business operations and dynamics, and analyze, monitor, and manage fraud related events and mitigate fraud risks.

Responsibilities:

• Refine, develop, and execute fraud prevention strategies that that anticipates trends, variances, and requirements, develops action plans, measures and analyzes results, initiates corrective action, and minimizes impacts to members and the credit union.
• Collaborate with senior leadership to evaluate and mature Patelco’s enterprise fraud framework. Update and improve controls on existing products. Identify and implement appropriate controls for all new products, with the objective of minimizing losses while maintaining excellent member experience. Identify vulnerabilities and develop effective fraud prevention controls throughout the member lifecycle.
• Create a culture of awareness around risk and fraud prevention systems to educate and empower team members across Patelco to assist in implementation and risk mitigation.
• Minimize net fraud losses and exposure across all credit union operations and functions utilizing effective and best in class prevention and detection strategies.
• Continuously monitor and assess the performance of the fraud detection and prevention programs including the false positive rates. Oversee the implementation of business logic and fraud detection system rules to reduce fraud losses as well as patterns that produce false positive results. Ensure the development of streamlined and effective process to minimize fraud.
• Strengthen, engage, develop, and coach Patelco’s Fraud team, including assessment of teams' ability to achieve goals while demonstrating and upholding Patelco’s values.
• Maintain strong awareness of industry trends and effectively communicate to credit union leadership and team members, as appropriate.
• Drive collaboration across the credit union to enable fraud prevention including building partnerships with cybersecurity, digital payments and delivery.
• Develop and maintain working relationships with multiple state and federal regulatory bodies to anticipate and react to new or changed regulations. Develop those arguments that best explain the credit union’s approach to fraud prevention.
• Perform other duties as assigned

Qualifications:

• Bachelor's degree and other technical field or equivalent work experience.
• Minimum ten years of experience in leading multiple elements of fraud operations including prevention, detection, and claims & investigation.
• Minimum of five years’ experience in the financial services industry.
• Minimum ten years’ experience engaging, developing and motivating teams to deliver results.
• Certified Financial Crime Specialist certificate (“CFCS”) and /or Certified Fraud Examiner (“CFE”) preferred.
• Demonstrated experience balancing fraud/organizational risk while optimizing member experience.
• Leadership experience building a team and motivating cross-functional groups to perform above their own expectations and perceived limits.
• Strong empathy for employees, members AND a passion for growth and development.
• Effectively lead in a changing business landscape while managing within the organization’s risk tolerance.
• Demonstrate solid judgment, problem solving, and independent decision-making.
• Adopt proactive, not reactive, approaches and offer creative solutions while striving for continuous improvement.
• Partner with senior leaders of the credit union in problem identification, solution design, and program execution.
• Gather and skillfully analyze information and make recommendations to business partners.
• Effectively communicate internally and externally; collaborate with senior management, committees, and other financial institutions to create and deliver communications and presentations.

Target Base Pay:

$225,000 - $245,000 / year

Compensation at Patelco:

Please note that the salary information is a general guideline only. Patelco Credit Union considers factors such as (but not limited to) scope and responsibilities of the position, candidate's work experience, education/training, key skills, internal peer equity, as well as market and business considerations when extending an offer. We offer a competitive total rewards package including a wide range of medical, dental, vision, financial, and other benefits.

We Offer:

Physical Health:

• Exceptional Medical, Dental, Vision, and Life Insurance benefits
• Onsite fitness center at HQ and rewards for completing wellness related activities 

Financial Health:

• Competitive compensation packages with bonus opportunity
• 401(k) with 3% Safe Harbor and 5% employer match
• Discounts on loan products
• Tuition reimbursement

Emotional Health:

• Employee Assistance Program (EAP)
• PTO for part-time and full-time positions
• Paid holidays

Personal Development:

• On-the-job training and skills development
• Internal transfer opportunities for career growth
• Volunteer work

Flexible work arrangements available for specific positions

 

Patelco Credit Union is an Equal Opportunity Employer including individuals with disabilities and protected veterans

 

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