Fraud Assistant Manager

Position Title

Fraud Assistant Manager

Location

New York, NY 10018

Job Summary

The Fraud Assistant Manager plays a key role in supporting the Fraud Manager with the oversight, strategy, and operational leadership of the Fraud Detection team. This role ensures high standards of fraud prevention and investigation by driving performance, maintaining compliance with banking regulations, and upholding quality controls.

In addition to managing individual workload, the Fraud Assistant Manager mentors and develops team members, leads performance evaluations, contributes to training efforts across business units, and offers subject matter expertise on fraud-related matters. The role also contributes to the development of policies and procedures, performs detailed reporting and trend analysis, and assists in managing complex projects aimed at reducing loss and mitigating risk.

Acting as a fraud prevention expert, this position fosters collaboration across departments and maintains strong relationships with internal partners and external stakeholders in law enforcement and regulatory agencies.

Pay Range: $69,501.00 - $102,818

Pay Range: Local Minimum Wage - $0.00 - $0.00

Job Responsibilities:

Leadership & Quality Management (40%)

Team Leadership, Performance Management & Development

• Support the Fraud Manager in daily operations of fraud detection, investigation, and prevention.
• Communicate performance expectations and team updates clearly and consistently.
• Foster a high-performance, motivated work environment and drive target achievement.
• Coach and mentor team members through 1:1s, performance evaluations, and policy briefings to promote best practices and ensure operational alignment.

Strategic Execution

• Collaborate with management to develop and implement departmental strategic plans aligned with fraud prevention goals.
• Maintain hands-on expertise with fraud detection platforms to support team inquiries and ensure accurate guidance.

Risk Management & Reporting (40%)

Fraud Analytics & Incident Trends

• Track and report fraud metrics, outcomes, and losses.
• Identify and communicate emerging fraud trends with mitigation recommendations.
• Develop and maintain early warning indicators and trend reports.
• Investigate fraud scenarios and escalate complex cases with proper documentation.
• Respond to inquiries from customers, law enforcement, and regulators.

Strategy & Process Design

• Refine business rules and detection strategies balancing risk, cost, and customer experience.
• Conduct root cause analysis and recommend process improvements.
• Identify system or policy gaps and propose risk controls.

Decision Authority

• Exercise authority over escalated transaction clearance, account holds, and service restrictions; apply regulatory knowledge (Reg CC, Reg E, UCC Articles 3 & 4) to minimize loss and ensure compliance.

Internal & External Engagement (20%)

Cross-Functional Collaboration

• Partner with internal stakeholders to deliver targeted fraud awareness sessions.
• Support risk-aligned changes across departments through consultation and training.
• Provide subject matter expertise and advisory support on fraud-related matters to business partners across the bank.
• Attend Enterprise Fraud and Claims meetings (or other designated sessions) as delegated by the Fraud Manager.

 Industry & Law Enforcement Relations

• Maintain relationships with financial fraud professionals and agencies at the local, state, and federal levels.
• Represent the bank in external fraud forums, law enforcement interactions, or regulatory inquiries.

ADDITIONAL ACCOUNTABILITIES

• Perform special projects, and additional duties and responsibilities as required.
• Where applicable and when performing the responsibilities of the job, employees are accountable to maintain Sarbanes-Oxley compliance and adhere to internal control policies and procedures.
• Stay current on fraud trends, tools, and regulatory requirements.

JOB REQUIREMENTS

• Education level required: High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent  in Business, Finance, or Criminal Justice Preferred.
• Minimum experience required: 6 Years of relevant investigative fraud experience in financial services industry and 3 years of management of fraud professionals.

Preferred Qualifications:

• Education level preferred: Undergraduate Degree (4 years or equivalent) (Add applicable additional detail i.e. field of study preferred or equivalent work experience if applicable)

Job Competencies:

Technical Expertise

• Deep understanding of various fraud schemes (e.g., check, deposit, card, internal/employee fraud) and loss prevention methods.
• Deep understanding of common fraud types (e.g., phishing, account takeover, social engineering, etc.).
• Strong familiarity with:
  • Regulatory frameworks including Regulation E, UCC Articles 3 & 4, and Regulation CC
  • Banking core systems and tools (DNA, Nautilus, FCRM, Salesforce)
  • Fraud prevention and detection methodologies
• Skilled in generating fraud trend analysis and actionable metrics.
• Advanced Excel and data analysis capabilities preferred.
• Knowledge of relevant legal standards and compliance obligations within financial services.

Core Professional Skills

• Proven leadership in mentoring, coaching, and performance management.
• Strong communication skills—written, verbal, and presentation.
• Exceptional critical thinking, judgment, and real-time decision-making under pressure.
• Ability to multi-task in a fast-paced environment while maintaining accuracy and attention to detail.
• High level of personal integrity and professional ethics.
• Ability to work independently with minimal supervision.
• Team-oriented mindset with a proactive, improvement-focused approach.
• Strong commitment to confidentiality and risk awareness.
• Physical demands (ADA): The job requires a moderate degree of physical exertion and stamina such as standing, sitting, walking, driving or infrequent lifting.

Flagstar is an Equal Opportunity Employer

Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information: Benefits | Flagstar Bank