Banking Fraud Management Jobs

Fraud department managers are responsible for ensuring that the fraud department meets all of its goals. These usually include reducing the number of fraud cases reported, and the reducing the amount of money the bank loses due to fraud.

The fraud department may also have the goal of improving customer service, and streamlining reporting activities. Fraud department managers will need to develop strategies to meet these goals, and then make sure that these strategies are properly executed by the department’s employees.

The fraud manager is also responsible for making sure that employees in the department are conducting all fraud-related transactions and reporting according to bank policies and federal laws and regulations. The manager must know these various laws and develop policies and procedures that ensure that they are being met during all daily fraud activity. They may assist in the development of the bank’s fraud prevention and reporting policies, and make sure that fraud specialists’ efforts meet these guidelines. Managers may help resolve some client disputes or problems.

Fraud department managers also look at department staffing needs. They want to keep the work flowing as efficiently as possible. They are constantly looking for ways to improve the speed and efficiency of fraud specialists’ responses to alerts and fraud reports. They also look at incoming phone calls to make sure that they are being answered in a timely manner. To that end, they look to see if there are appropriate numbers of people working on the various accounts, and if these people are properly trained and performing at optimum levels. If not, managers may ask supervisors or trainers to work with the staff to improve their performance.

Like other banking managers, fraud department managers may need to provide leadership and motivation. Since managing involves working closely with both employees and customers, managers should enjoy working with people in this position.

If you enjoy managing and leading a team of employees, achieving goals, developing and executing new strategies, and preventing crimes, this may be the right career path for you.


Also See: Healthcare Jobs and Debt Collection Jobs

Educational Requirements


Knowledge, Skills, and Abilities




Average Salary

The average salary for fraud department managers can vary widely from bank to bank and state to state. They can earn somewhat higher salaries than fraud specialists, who make about $29,000 per year.

Potential Career Paths

Fraud department managers have a few potential career paths, especially at a large bank. If the fraud department manager is managing a smaller department, he or she could be promoted to a larger, more prominent department. Fraud department managers could also be promoted to a position that manages multiple departments. Other potential advancement opportunities for fraud department managers include being promoted to higher level management positions such as regional manager or director, or moving to a different bank where the fraud departments are larger.

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