Senior Manager, Fraud Strategy/Risk Analytics and Modeling

Your Opportunity

At Schwab, you're empowered to make an impact on your career. Here, innovative thought meets creative problem solving, helping us "challenge the status quo" and transform the finance industry together.

The Transaction Risk Interdiction & Detection (TRIAD) is a department within the Financial Crimes Risk Management Enterprise.

Our charter is to protect our client's and the firm's assets by preventing and mitigating fraud losses utilizing our various tools and vendor solutions such as Enterprise Risk Engine (Actimize), ThreatMetrix, OASIS, Visa Fraud Modeling, and other vendor Models.

TRIAD is responsible for creating strategies to interdict fraud perpetrated by criminals in our MoveMoney products and accounts - Wires, ACH, New Accounts, Visa transactions, Bank Bill Pay, Journals and other Schwab products used to move money to and from Schwab.

The team is responsible for reviewing historical transactions of known fraud, reviewing existing in house and vendor models used to score fraud, and to keep abreast of new, emerging threats.

The team also works closely with our model product owners, Schwab Model Review Oversight organization, Internal Audit teams, and our business stakeholders and in Banking and Brokerage operations to provide updates and metrics on ongoing fraud effectiveness in all of the previously mentioned Move Money products.

Responsibilities

• Assisting the Senior Team Manager in reviewing, maintaining, and enhancing our fraud strategies utilizing our models by reviewing known fraudulent transactions for patterns of potential criminal activity.
• Identifying potential account takeovers and the submission of fraudulent transactions in the Wires, Journal, ACH, Visa, and New Account product spaces.
• Querying transactions from our operational databases and the Schwab Big Query Cloud Datawarehouse using SQL and other BI tools to find the best logic to interdict fraud while maintaining our alert rate within specified operational SLA's.
• Working closely with the Team Manager to review their analysis of the data to identify patterns and logic that would be best suited for intercepting transactions that have a high enough risk profile.
• Responding to MRA and other Audit findings by providing the necessary data and write-ups to satisfy any remediation required.
• Reviewing historical transactions flowing through Enterprise Risk Engine (Actimize), check fraud model (OASIS), Bank Bill Pay, Visa, and New Account models using SQL to pull data from the databases to perform analysis to arrive at insights.
• Reviewing and understanding our current fraud strategies for Checks, Visa, New Account open, Wires, Journals, ACH, and Bank Bill Pay and be prepared to make adjustments to the rules that review fraud risk.
• Working directly with the TRIAD colleagues to peer review proposed rules and rule changes stemming from changing criminal behaviours and also from migrating to newer fraud models from our vendors.
• Assisting the team and the team manager in collecting data using SQL to present to leadership and other stakeholders the metrics on fraud strategy effectiveness.
• Working with the team and team manager to identify any data issues or other problems upstream or downstream from our strategies that could impact fraud detection and other operational processes.
• Supporting other individuals with their work when the need emerges.

Key Factors for Success in This Role

Organizational skills : ability to anticipate, improvise, and adapt for efficient resolutions. Consistently manage workloads effectively.

Ability to marshal resources to get things done. Can orchestrate multiple activities at once to accomplish a goal. Use resources effectively and efficiently.

Arrange information and files in a useful manner. Ensure that all follow-up responsibilities are completed timely and with limited direct supervision.

• Quality : ability to problem solve with results-oriented style delivering good quality and timeliness. Demonstrated skills in the areas of critical thinking and judgment as they relate to assessing and mitigating risk to our clients and the firm (with respect to Visa debit card transactions).
• Communication skills : work effectively across functions, maintain composure in stressful situations, and diffuse tense situations comfortably.

The ability to yell early and often to avoid not meeting expectations and to be able to liaise between our technical partners and business stakeholders.

Client Focus : dedicated to meeting the expectations and requirements of internal and external clients. Act with the client in mind.

Build and maintain efficient relationships with clients and gain their trust and respect.

What you have

To ensure that we fulfill our promise of "challenging the status quo," this role has specific qualifications that successful candidates should have.

Required Qualifications :

• 4+ years of financial services / banking operations experience and experienced with fraud issues.
• 2+ years of analytical experience in the areas of : financial crimes, fraud, and financial transactions.
• A strong demonstrated ability (5+ years) writing SQL queries from scratch and be able to read and understand existing SQL scripts.

Must have an understanding of ETL concepts, data transformation and loading of data.

• 5+ years of experience working with BI tools such as SAS, Tableau, Python, R, or other analytics software. Able to speak to analytical insights derived from working with these or similar tools.
• Experience working with data models and creating rules and logic to review transactions for specific flags and potential risky behavior.
• Strong Excel skills.

Preferred Qualifications :

• Demonstrated work history of working well with others in a team environment.
• Effective skills in the management of personal workloads with an emphasis on producing quality work with minimal errors in a demanding environment.
• Strong verbal and written communication skills.
8 days ago