Fraud Operations Associate

4 months ago

Manchester, United Kingdom OakNorth Bank Full time

We have an exciting opportunity to join OakNorth Bank as a Fraud Operations Associate As we expand our banking products, this is an exciting opportunity to be first in as we build out our new Fraud and Financial Crime Operations Teams The role is on a 6-month full time contract with the possibility of moving to a permanent position. This is an office-based position in Manchester city centre reporting to our Fraud Operations Manager.

**Responsibilities**:

- Assist and advise on the design of fraud monitoring systems and processes
- Support design and implementation of rules to mitigate identified fraud threats
- Carry out quality assurance and four eye checks to ensure fraud losses are kept to a minimum
- Take on leadership responsibilities and deputise for manager when required
- During initial soft launch of business current accounts, independently complete fraud investigations to support the Fraud Operations Manager in designing and documenting standard operating procedures and controls for 1st line Fraud Operations
- Taking actions to secure accounts and identifying any control gaps or weaknesses and reporting
- Questioning customers effectively and efficiently without influencing their answers
- Communicating with customers to secure additional information to support their claims
- Identifying vulnerable customers through open questions
- Engaging with other banks and financial institutions about reports of fraudulent behaviour
- Using internal database to build timelines of customers’ fraud claims
- Liaising with 2nd line Fraud/Financial Crime team where necessary to gain advice on cases, to ensure the right outcome is delivered for the customer and the bank
- Securing fraudulent funds so that they can be returned to victims
- For external launch and the expected increase of business current accounts, work with the Fraud Operations Manager to identify new risks and adapt our approach to mitigate them.
- Build and maintain a broad awareness of the technique’s fraudsters use and how they will target the bank and our customers

**Requirements**:

- Genuine passion about fraud prevention and protecting the bank and customers
- A keen and demonstratable interest in financial crime and its impact in the wider world
- 2-3 years’ experience working within an existing operational fraud prevention team within a UK bank or financial institute
- Basic working knowledges in other areas of financial crime prevention (AML, Sanctions, CDD/EDD etc)
- Experience identifying fraud risks and taking the appropriate steps to mitigate the risks
- Basic knowledge of the UK regulatory framework and best practice regarding fraud prevention
- Preferable to have experience using fraud detection and reporting systems, such as CIFAS
- Knowledge of card authorisations processes
- Experience of asking open questions to customers to identify required information
- A keen eye for detail, allowing you to identify potential risks to the bank and our customers
- Very self-motivated, with a positive mind-set, having strong time-management skills

**Benefits & Perks**:

- Equity. We want people to have a stake in the business so that all our interests are aligned.
- 25 days holiday
- Personalized benefits - opt-in to what matters to you
- Enhanced maternity and paternity leave
- Employee friendly cost-free social areas i.e., cereal bar, hot drinks; weekly takeaways
- Wellbeing and social events
- Support causes that matter to you - Volunteering time off
- Salary sacrifice schemes (Cycle to work, nursery, gym)

**About Us**
- Banking should be barrier-free. It’s a belief at our very core, inspired by our entrepreneurial spirit, driven by the unmet financial needs of millions, and delivered by our data-driven tools.
- And for those who love helping businesses thrive? Our savings accounts help diversify the high street and create new jobs, all while earning savers some of the highest interest on the market.
- But we go beyond finance, to empower our people, encourage professional growth and create an environment where everyone can thrive. We strive to create an inclusive and diverse workplace where people can be themselves and succeed.
- Our story_
- OakNorth Bank was built on the foundations of frustrations with old-school banking. In 2005, when our founders tried to get capital for their data analytics company, the computer said ‘no’. Unfortunately, all major banks in the UK were using the same computer - and it was broken.
- Why was it so difficult for a profitable business with impressive cashflow, retained clients, and clear commercial success to get a loan?
- The industry was backward-looking and too focused on historic financials, rather than future potential.
- So, what if there was a bank, founded by entrepreneurs, for entrepreneurs? One that offered a dramatically better borrowing experience for businesses?
- No more what ifs, OakNorth Bank exists.

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