Trainee Fraud Risk Management Jobs in Toronto, ON

Requisition ID: 268784 
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Leads and oversees a First Party Fraud Analytics mandates in Retail Unsecured Lending Products Canada, ensuring business strategies, plans and initiatives are executed / delivered in compliance with governing regulations, internal policies, and procedures.

 

Is this role right for you? In this role, you will:

• Accountable for developing, executing, and monitoring First Party Fraud Credit Risk strategies for Canadian Banking across all lifecycles, multiple platforms and products, primarily focusing on Unsecured Retail Products (Credit Cards, Unsecured Line of Credit, Personal Loans and Overdraft), leveraging best in class analytics. 
• Analyze first party fraud losses and key drivers, investigate emerging trends/ alerts, and identify gaps in controls, policies and procedures; provide recommendations to prevent and mitigate the existing and future losses
• Develop and automate first party fraud loss reporting and MIS, monitor and forecast the reportable losses against established risk appetite, escalate breaches and recommend action plans
• Identify new First Party Fraud mitigation opportunities across all lifecycles and assist and/or lead the development and implementation of the initiatives working with stakeholders across IT, Fraud Operations and other business partners to ensure projects are executed successfully and on time
• Assist in the development of First Party Fraud models (e.g. application frauds, credit card transactions) using data sciences and statistical mining tools (Python, SAS, R) to create high risk alerts for actions
• Liaise with industry experts and partners (including Credit Bureaus, Fraud Consortium, external vendors) to drive opportunities to leverage new data and technology to improve First Party Fraud strategy
• Collaborate with operational partners (sales unit, mid office, collections and credit loss provisions) to improve First Party Fraud review process and loss allocation. 
• Participate in fraud incident management, investigate suspicious transactions and control breaks, escalate and recommend quick response -- maintaining a log of issues, gaps and resolutions
• Builds a high-performance environment and implements a people strategy that attracts, retains, develops, and motivates their team by fostering an inclusive work environment; communicating vison/values/business strategy and managing succession and development planning for the team.
• The Senior Manager is expected to exercise independent judgement and discretion in delivering on their mandate
• Oversee and work with other risk and fraud management teams to assist in the development of First Party Fraud mitigation strategies, policies, controls and processes primarily for the Canadian Retail Unsecured Lending portfolios, including: Credit Cards, Line of Credits, Personal Loans, and Overdraft and any others such as Indirect Auto as required.
• Monitor First Party Fraud Losses and identify drivers and emerging trends using data across enterprise platforms and systems to mitigate and prevent First Party Fraud loss exposure
• Support the delivery of initiatives as planned (on time/on budget)
• Achieve fraud loss targets and customer experience targets identified in the annual plan
• Achieve plan results while mitigating all operational and reputational risk
• Develop effective working relationships with partners both internally and externally
• Contribute to the department's employee satisfaction and diversity targets

Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have:

• A University degree, preferably in field related to analytics, statistics, mathematics, computer science, or business management related field.
• 7+ years analytical experience including advanced statistical analysis or extensive background related to Fraud and financial crimes or Risk Management; Should have the ability to draw and communicate key insights from data
• Have experience and knowledge related to identifying, managing, mitigating and investigating fraud and financial crimes
• Strong communication and relationship building skills essential with clients, vendors and management
• Strong prioritizing, planning, analytical, presentation, project management, and relationship building skills
• Experience with statistical software such as SQL, SAS, Python, and others OR strong change management experience
• Experience with risk platforms, fraud monitoring tools, fraud MIS database management strongly desired
• Must be curious, self-motivated, energetic and results-oriented and be committed to adding value to the organization

What's in it for you?

• An inclusive & collaborative working environment that encourages creativity, curiosity, and celebrates success!
• We offer a competitive rewards package: Performance bonus, Employee Share Ownership Program, and Pension Plan Matching, Health Benefits from day one!
• Your career matters! You will have access to career development and progression opportunities.

Location(s):  Canada : Ontario : Toronto 
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.  
At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our  Recruitment team know. If you require technical assistance, please click here. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.