Specialist, Fraud Operations at Santander

Quincy, Massachusetts, United States

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Not SpecifiedCompensation

Junior (1 to 2 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Financial ServicesIndustries

Requirements

Bachelor's Degree or equivalent work experience
1+ Years Experience in loss prevention, fraud, regulatory compliance, fraud prevention or security area preferably in financial services
Ability to analyze diverse information and develop strategy recommendations
Excellent customer service and communication skills, both verbal and written
Excellent organization skills, knowledge, and experience with root cause analysis
Proficient in MS Office Applications
Solid ability to multi-task
Solid analytical, interpretive, and problem-solving skills
Solid knowledge of department computer applications and systems
Working knowledge of fraud systems such as LexisNexis, Appian, PEP+ (desired-not mandatory)
Working knowledge of loss and fraud detection/prevention principles, multiple fraud areas, compliance and regulatory issues related to the department and/or company
Minimal physical effort such as sitting, standing, and walking
Accurately identifies resource requirements to solve basic problems
Communicates clearly and precisely
Listens carefully

Responsibilities

Performs routine, analytical review of data and/or documentation which may include customer data and/or review for fraud/risk activities
Manages and responds to fraud risks, ensuring the protection of customers and minimizing losses for both clients and the bank
Monitors financial activities for anything suspicious that might point to fraud
Reviews data and various types of transactions to ensure fraud prevention and detection
Analyzes current fraud trends and provides input into rules and parameters
Meticulously reviews financial transactions, account activity, and other data to identify potential fraudulent behavior
Demonstrates ability to identify fraud and related financial crime risks and takes appropriate steps to mitigate the risks
Follows and maintains Policy and Procedure Manuals
Enters fraud cases in the case management system
Reviews fraud alerts involving Cards, ACH, Pre-authorized drafts, altered checks, forged endorsements, unauthorized third-party transfers, elder fraud, identity theft or other operations fraud issues
Reports suspicious activity as required by the Bank Secrecy Act
Researches discrepancies, accumulates all necessary information and takes appropriate action to stop, and where possible, prevent fraud and identity theft losses

Skills

Fraud Detection

Risk Analysis

Transaction Monitoring

Data Review

Fraud Prevention

Financial Crime Identification

Risk Mitigation

Policy Compliance

Case Entry

Trend Analysis

Santander

Provides banking, investment, and insurance services

About Santander

Santander Bank provides a variety of financial services to individuals, small businesses, and large corporations in the United States. Its offerings include savings and checking accounts, loans, credit cards, and investment products. The bank also has specialized services through Santander Investment Services and insurance products via Santander Securities LLC. Santander stands out from its competitors by focusing on community growth, committing $13.6 billion to support initiatives like the 'Cultivate Small Business' program, which aids early-stage entrepreneurs, especially from underrepresented groups. The bank generates revenue through interest on loans, service fees, and commissions, while promoting responsible banking practices and financial education. Santander's goal is to empower individuals and businesses, enhance community prosperity, and provide comprehensive financial solutions.

Boston, MassachusettsHeadquarters

1902Year Founded

$75MTotal Funding

POST_IPO_DEBTCompany Stage

Fintech, Financial ServicesIndustries

10,001+Employees

Benefits

Health, dental, & vision

401k

Flexible PTO

Parental & sick leave

Discounts: technology, travel, auto, fitness, & tuition

Risks

ISO 20022 transition may challenge smaller business partners.

'Quishing' attacks pose a growing threat to consumer security.

Openbank faces competition in the U.S. high-yield savings market.

Differentiation

Santander's Openbank offers a 5.00% APY high-yield savings account nationwide.

The bank's Inclusive Communities Plan pledges $13.6 billion for community initiatives.

Santander's ISO 20022 adoption enhances operational efficiency and data management.

Upsides

Openbank's high-yield savings account attracts more U.S. customers.

Santander's renewable energy financing highlights commitment to sustainable investments.

Proactive cybersecurity measures enhance customer trust and protect digital assets.

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