Manager, Debit Card Fraud Risk

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 goal 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 over 40 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.

Our Opportunity:

The Transaction Risk Interdiction & Detection (TRIAD) team is part of our Banking Operations Fraud Modeling group. We are dedicated to safeguarding both our clients’ and the firm’s assets by proactively preventing and mitigating fraud losses. The TRIAD team leads risk management efforts by developing and implementing fraud prevention models and strategies across a variety of financial transaction channels—including wires, ACH, journals, checks, VISA Debit Cards, peer-to-peer payments, and new account opening.

Our core responsibility is to design and execute strategies that detect and interdict fraudulent activity. This involves analyzing historical transactions where fraud has occurred, evaluating and refining both internally developed and third-party models, and staying informed about emerging fraud threats. As model owners, TRIAD collaborates closely with our Model Review Oversight organization, Internal Audit, and other key stakeholders in Banking and Brokerage Operations. We regularly provide updates and metrics regarding the effectiveness of our fraud prevention strategies across all movement of funds products.

By joining the TRIAD team, you will contribute to a purpose-driven organization that values integrity, innovation, and a commitment to protecting our clients and the firm from financial crime.

What you’ll do:

The manager is an individual contributor responsible for protecting our client’s assets by developing fraud strategies to interdict real-time transactions in our debit card transaction model risk engines. They will be responsible for identifying, analyzing, testing, and implementing new fraud strategies to address emerging trends within the debit card portfolio(s) for our clients. This includes creating rules in-house and also working with 3^rd party vendors that manage our debit card fraud rule stack.  In addition, they will need to stay up to date on current fraud best practices, while monitoring/maintaining current strategies within the multiple rules engines to ensure the right balance between fraud prevention and client experience.

Furthermore, the ideal candidate will demonstrate the ability to understand model changes, update model white papers & technical papers, review & submit changes to models for internal Model Oversight review, and perform all the necessary functions related to managing a model with model oversight standards and procedures.  This includes updating model limitations, inputs/output, deriving and evidencing key performance management metrics, maintain rule inventories, and monitoring and updating rules when necessary, as well as maintaining all other related artifacts required of a model owner.

The ideal candidate will query transactions from our operational databases and cloud data warehouse using SQL and other BI tools to analyze transaction patterns indicative of fraudulent behavior; these patterns will be used to implement real time interdiction strategies in our rules based engines, make recommendations to improve the overall client experience, create summary reporting to communicate to our stakeholders, etc. In addition, they will have a basic understanding of KYC practices, fraud loss types, and Visa dispute practices.

We believe in the importance of in-office collaboration and fully intend for the selected candidate for this role to work on site in the specified location(s).

What you have

Required:

• A passion in protecting Charles Schwab client and company assets

• 3-4 years VISA and/or Debit/Credit card fraud experience required 

• Write and review model white paper and technical papers, excel, data reviewing techniques

• 4+ years identifying, analyzing, testing, and implementing new fraud strategies to address emerging trends within the debit card portfolio(s) or other real time interdiction risk platforms

• 4+ years of SQL programming experience in one or more applications (e.g. SQL Server, Oracle, Teradata, Big Query, Postgres, etc.)
• 4+ years data integration with Python/SAS

• Ability to assess risk and impact of current strategies on fraud mitigation, in conjunction with client experience.

• Good understanding of basic Exploratory Data Analysis (EDA)

• Basic understanding of KYC practices, fraud loss types, and Visa dispute practices

• Strong data visualization and data wrangling skills.

• Ability to work as part of a team, but can also work independently

• Strong verbal and written communication skills
• Effective skills in the management of personal workloads with an emphasis on producing quality work with minimal errors in a demanding environment.

Preferred Qualifications: 

• 4+ years authoring rules in one or more of debit/credit card transaction risk engines
• 4+ years of analytical experience in the areas of financial crimes, fraud, and financial transactions
• 4+ years financial services/banking operations experience.
• Experience in various tools  such as SAS, Tableau, Python, R, and any other analytics software is a plus. 
• Working knowledge with fraud issues preferred.
• Preferred:  B.S./B.A. or MS/MBA in Finance, Economics, Computer Science, InfoTech or related field
• 5+ years of direct experience will be considered in lieu of a college degree

In addition to the salary range, this role is also eligible for bonus or incentive opportunities