Director, Fraud Investigations

Your Opportunity

We believe that, when done right, investing liberates people to create their own destiny. We are driven by our purpose to champion every client’s goals with passion and integrity. We respect and appreciate the diversity of our employees, our clients, and the communities we serve. We challenge conventions strategically to create value for our clients, our firm, and the world. We live and bring to life the concept of “Own Your Tomorrow” every day. We champion our employee strengths, guide their development, and invest in their long-term success. We hire optimistic, results-oriented, curious, innovative, and adaptable people with the desire to help our clients and one another succeed.

As a company, we were established by Chuck 50 years ago to champion Main Street over Wall Street, and to help Americans transform themselves from earners to owners. Through advocacy and innovation, we work to make investing more affordable, accessible, and understandable for all. As we enter our fifth decade, we are looking for talented, innovative, and driven people who believe they can help themselves, and our clients, create a better future.

At Schwab, you’re empowered to make an impact on your career. Here, innovative thought meets creative problem solving, helping us “challenge the status quo” and transform the finance industry together.

This is an opportunity to join the Fraud Risk Management team, and help lead certain centralized functions in support of maintaining and enhancing the effectiveness and efficiency of Fraud Investigations processes.  This team will drive enhancements in fraud investigation practices to help streamline/simplify processes, develop data-driven oversight/monitoring, and enable scalability of investigative activities.  Specifically, they are responsible for: conducting approval and supervision of investigations of suspected incidents of fraud conducted by second-line investigators (including management of fraud account restrictions); managing escalations from first-line partners in relation to fraud investigations; assignment and reporting on fraud investigation casework; fraud investigation procedures and job aids; and other activities to help make fraud investigations process more effective and efficient.  

This role is a People Leader at the Director level, reporting to the Managing Director and Head of Fraud Risk.  Types of case investigations that this team supports may include unauthorized Wire, Check, ACH, Zelle, Visa Debit Card, and BillPay transactions for both the Bank and Broker Dealer products that Schwab offers, as well as other types of suspected fraud impacting Schwab and our clients.

What you are good at:

As a Director, you will serve in both strategic and operational capacities to both lead and support these activities.  This will involve being a change management tone-setter, and doing detailed hands-on work with fraud processes, procedures, and job aids in order to identify, assess, and implement process enhancements.  Lateral leadership will be critical to the success of this role, as the Director will need to work proactively and collaboratively with peers, especially those leading investigations teams, and will also guide and model strategic engagement for their team members.  You will need to multitask at any given time on several investigation-related priorities, which may include reviews, approvals, escalations, assignments, procedures, reports, as well as follow-up with investigators, clients, business partners, law enforcement, and/or other financial institutions with regard to fraud investigation cases.  

You should have knowledge of filing Suspicious Activity Reports (SARs) and related guidance and best practices, and demonstrate the ability to help casework and SARs meet the highest standards of quality.  Excellent personal and lateral leadership skills are key for this role, and the ability to work with teammates and investigators through complex, high-volume investigative caseloads.  The leader of this team must demonstrate a high degree of initiative with limited direct supervision when addressing their daily responsibilities, and must help support the strategy and direction of their teammates when needed, in alignment with organizational goals and objectives. All work must be completed within well-defined regulatory guidelines in a busy and highly scrutinized environment. You should be able to demonstrate consistency in exercising sound judgment and decision-making with respect to risk and fraud issues. The ability to effectively balance individual cases, overall workloads, and additional responsibilities at a high level of competency is required.  You should also be adept at verbal and written communication, including communicating constructive and productive feedback to team members, investigators, and managers with regard to their case investigation activities. 

You will identify procedural and strategic opportunities to mitigate fraud risk, collaborating with firm partners and industry peers on related initiatives. You may be asked to support regular updates to management on cases, threats, trends, and projects.  You will demonstrate personal initiative, innovative thinking, and cross-functional collaboration to help develop oversight around the impact of fraud and scams on Schwab and our clients.  You will proactively seek opportunities to partner with stakeholders on Fraud Investigations teams and throughout Corporate Risk Management, FCRM, and with business partners across the firm to meet these objectives.  You may also be asked to support other Fraud Investigations or Fraud Risk Management activities, and to flex yourself and your team as needed to support those activities.

What you have

• A deep understanding of fraud investigations and related processes. Understanding of complex scam and fraud tactics, typologies, and methodologies.  Familiarity with how firms like Schwab leverage complex algorithms and models (including Machine Learning and Artificial Intelligence) to identify, prevent, and investigate incidents of fraud and scams. 
• At least 12 years’ experience demonstrative of skills and professional accomplishments that would support effective execution of the responsibilities in this job description in a fraud risk or investigations environment in financial services.
• At least 10 years of successful experience with management or supervisory responsibilities, and demonstrating excellent horizontal and personal leadership. You should demonstrate active engagement to achieve and help others achieve operational excellence, accomplish individual and organizational goals, and make deliberate space for employee well-being and personal/professional development.
• Demonstrative change management capabilities. Experience and skills in identifying and implementing significant changes to manual, voluminous, and risk-based processes.
• Ability to form relationships effectively and quickly, and to establish trust, respect, competence, and confidence. Engage and enlist stakeholders in active investigations, as well as in broader change management initiatives.
• Ability to analyze issues and develop problem solving methodology with minimal guidance.
• Proven problem-solving skills, experience in handling complex customer issues, the ability to manage high-pressure situations, resolution, and follow-through. Exceptional client focus.
• Smart time management skills utilizing a risk-based approach to prioritizing and completing daily tasks and managing many active cases simultaneously. Ability to multi-task and work in a high-volume, high-pressure environment.
• Effective interpersonal, influencing, and facilitation skills, with well-developed verbal and written communication practices.
• Demonstrated ability to effectively work independently while also leading, coaching, and guiding team members.
• Exceptional client focus; ability to effectively and quickly form relationships and establish trust, respect, competence, and confidence; championing timely and responsive resolution to clients’ inquiries related to assigned casework.
• Experience with brokerage/bank services, products, processes, payments, or transactions is preferred.
• Experience with Regulation E Error Resolution procedures, Uniform Commercial Code (UCC) for check processing, SAR filings, and other regulatory compliance standards is preferred.
• Memberships, continuing education, and/or certifications in industry associations is supported an encouraged – for example, the International Association of Financial Crimes Investigators (IAFCI), Certified Fraud Examiner (CFE), Certified Anti Money Laundering Specialist (CAMS), and related groups/designations.
• BS/BA degree, advanced/professional degree, other coursework, and/or securities license(s) would be a plus.