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Job Details

Director of Sales Practice and Fraud Investigations

Company name
Sovereign Bank

Framingham, MA

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Director of Sales Practice and Fraud Investigations','1802557','!*!Managing all facets of Fraud Investigations functions company-wide to minimize bank and customer loss and risk; Analyzing internal suspicious activity (team members) and external suspicious activity (customers, crime rings and other criminals)Cyber, IT and web-based fraud investigations and key responder to data security breaches Commercial, Mortgage and Consumer loan fraud prevention, detection and investigations Card related fraud investigations and recovery (Debit and Credit cards)Managing Cost Management Unit (CMU) approved budget to control expenses; Managing structure, staffing, policies, processes, efficiency, effectiveness and quality of investigations for the bank. Plan based on risks, emerging trends, volumes and compliance needs; Establishing priorities and providing direction for the Banks Fraud Investigations functions; Developing fraud and loss mitigation strategies, including physical security requirements, focusing on protection of bank and customer assets; Coordination with Law Enforcement to arrest, convict and recover bank assets; Ensuring Bank Secrecy Act compliance by filing Suspicious Activity Reports; Maintaining Sarbanes Oxley (SOX) compliance for the banks investigations function Leading largest, most complex and sensitive investigations and working closely with Management, Legal and Corporate Communications to help minimize reputational risk Developing and maintaining solid partnerships with all business line leaders to ensure appropriate and effective bank investigations and response; Reporting periodic Fraud Investigations results to Management, Executive Management and Board Committees as required; Communicating with peer banks and industry organizations to maintain and enhance awareness of industry risks and trends. Managing bank investigations specific third-party vendors to ensure SLAs, compliance with Privacy NPPI requirements and appropriate, effective incident management


Actively promote, recommend and contribute to bank-wide fraud prevention policies, procedures and training programs based on expertise and understanding of current and emerging risks and fraud trends

Direct positive improvement in fraud investigations process/tools and risk mitigation/losses through coaching Managers and their teams to identify control weaknesses/gaps, fraud mitigation strategies, and fraud detection methodologies.,i.e. Bank Secrecy Act (Suspicious Activity Report SAR filing), Uniform Commercial Code (UCC), Reg CC, Reg E, etc

Affecting the disposition of fraud claims/cases

Specializing in financial crimes to facilitate intelligence gathering, expeditious investigative support, funds recovery, case prosecution and multi-agency/international task force cooperation.

Lead and investigate significant and sensitive high profile/risk cases and ensure appropriate senior leaders within the organization, including Legal and Corporate Affairs, are fully informed.

Member of enterprise-wide Fraud committee.

Partner with Director of Physical Security to identify Fraud trends and ensure strong mitigation plans are developed and implemented

Develop, coordinate and implement fraud detection, prevention and investigation training plans for team managers and staff.

Liaison with industry professionals and federal, state and law enforcement agencies (e.g., AUSA, Attorneys General, FBI, USSS, U.S. Postal Inspectors, etc.)

Participate in fraud related industry organizations and associations (e.g. IAFCI, ACFE, BITS, ABA, etc.) to contribute/leverage best practice initiatives and fraud trend benchmarking data

Actively manage departmental results/work product for the purpose of mitigating exposure, recovering stolen funds, equitable case distribution, appropriate subject matter expertise, and compliance with all Federal Regulations

Manage and motivate managers and teams of professional investigators and internal/ external fraud subject matter experts (commercial loan, mortgage, consumer loan, cards and online).

Oversee Managers and their teams’ efforts to detect, prevent, offs with Legal, Monthly Sales Practice Committee, Monthly Fraud Governance Forum, etc

Involvement in the staff meetings/monthly forums of key business partners to share information (AML, InfoSec, Fraud Prevention, etc.);

Regular communication and engagement with the Head of Claims, Collections and Fraud Operations to ensure awareness and alignment on performance, trends, risks and strategy

Secure strong understanding of escalated events to provide summaries/status updates to management and business partners; facilitate intelligence gathering, expeditious investigative support, funds recovery, case prosecution and multi-agency/international task force cooperation manage responses to Significant Complaints tied to fraud activity

Maintain availability 7 days a week to quickly coordinate resolution efforts around high risk events that may surface

Pursue self-identified risks within the department and develop/execute on remediation plans

Collaborate with team members and business partners to manage and resolve existing risks within the business

Work with risk partners, auditors, and regulatory entities (OCC) to review Fraud Investigations/Sales Practice processes and performance - periodically presenting materials at associated meetings/forums

Development and review of daily/weekly/monthly reporting to understand and react to the performance and trends of both the department and individual team members

Furnish polished reporting packages to provide to management

Create PowerPoint presentations to deliver at various forums as needed

Proactive review of external and internal environment and identification of issues or concerns related to potential gaps in existing processes, procedures, policies, frameworks, etc

Active promotion of a risk management culture by encouraging team to embrace appropriate risk practices and supporting team members in fulfilling risk management responsibilities

Adherence to the Code of Conduct, assigned Risk Tolerance or Mandates and all organizational policies and procedures applicable to role and appropriate action to ensure that assigned team adheres accordingly ,Completion of all assigned training (Compliance, Bank Secrecy Act, Audit, Code of Conduct, etc.)

Reporting requirements within set timeframes and appropriate action to ensure that team meets assigned requirements

Contribution to satisfactory results in audit reviews, compliance reviews, and regulatory examinations (internal/external)

Compliance and Regulatory Agency reviews. Personal or team response, to required corrective actions in a timely and complete manner Communication (staff meetings, 1-on-1’s, focus groups, skip levels, etc.)

Development of team members; offering support and guidance on complex and/or unique cases and scenarios; ensuring that all performance expectations are being met (coaching/training where appropriate);

Ensuring equitable case distribution and prioritization based on resources and subject matter expertise; overseeing effective recovery efforts

Ensuring consistent communication between investigators and colleagues/customers involved in active cases

Approval of high dollar write-offs; dealing directly with Law Enforcement on larger cases

Periodic review and approval of Suspicious Activity Reports

Ensuring compliance with federal regulations (timely submission of Suspicious Activity Reports); quality assurance review; periodic travel to meet with team members in person

“At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams.  We actively encourage everyone to apply”

At least 15 years of internal/external fraud investigations experience within the financial services industry

At least 10 years of business management experience required.

Strong experience with the MS Office Suite, primarily Excel, PowerPoint and Word

10 years of internal/external fraud investigations experience within the financial services industry

10 years of leadership experience

Certified Fraud Examiner and/or Certified Financial Crimes Investigator preferred.

Ability to exercise sound judgment to resolve problems and/or potential conflicts resulting from customer and/or employee dissatisfaction

Ability to exercise sound judgment to resolve problems and/or potential conflicts resulting from customer and/or employee dissatisfaction

Ability to interact skillfully with senior management and business partners

Proven ability to discuss and clearly present complicated and/or sensitive information

Ability to think both tactically and strategically; agility and confidence to effectively drive and navigate change

Deep understanding of the internal/external fraud investigations space for financial crimes across a broad array of channels; can be relied upon as a subject matter expert for the bank

Demonstrated ability to build strong collaborative business relationships; recognizes organizational limitations and uses corporate culture and resources to eliminate barriers where possible

Excellent written and presentation skills

Experience in dealing directly with Law Enforcement and government agencies to collaborate on active cases, prosecute suspects, and recover funds

Experience with building out robust reporting program for a business unit (individual scorecards, weekly dashboard, monthly performance package, etc

Experience working directly with regulators on areas of focus associated with Fraud Investigations and Sales Practice High level of integrity and excellent judgment concerning sensitive matters

Polished communication (written and verbal) and presentation skills; ability to effectively communicate with all levels of the organization

Proficient with Microsoft Office Suite

Proven ability to motivate and lead Managers/Supervisors and their teams

Proven ability to present complicated and/or sensitive matters to Executive Level Management

Strong analytical skills - the ability to detect and report on fraud trends, as well as identify and propose tactics to mitigate further exposure

Strong analytical skills, including the ability to detect and report on fraud trends and to identify ways to improve fraud detection, prevention and avoidance

Strong leadership skills with the ability to motivate Managers and their teams

Strong people management - commitment to team building, ability to motivate staff, maintain high engagement, and manage effectively with limited resources

Support strategic priorities and execute as a thought leader/resource for senior management Thorough understanding of relevant compliance regulations, e.g., BSA, BPA, Reg H, Reg CC, REG E and Privacy-GLP/Reg P,Thorough understanding of relevant compliance regulations, e.g., BSA, BPA-Reg H, Reg CC and Privacy-GLP/Reg P.

Duties are performed in an office environment

Physical demands could involve any or all of the following: digital dexterity and hand/eye coordination in the operation of office equipment

Light to moderate lifting (10-20 lbs.) and carrying of supplies, files, etc.

The ability to speak to and hear customers and/or other employees both telephone calling and in person; and body motor skills sufficient to enable the incumbent to move from one office location to another.','General Management','Massachusetts-Framingham','','Full-time','Apr 16, 2018','','false','Director of Sales Practice and Fraud Investigations

Company info

Sovereign Bank
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Company Profile
Access our current and historical news, and learn about our investment in our communities and our history. At Sovereign Bank, we are committed to:

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