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Fraud Officer

Lakeville, MN; Bloomintong, IL; Naperville, IL; Sun Prairie, WI

Empowered to live. Inspired to work.
Compeer Financial is a member-owned cooperative located in Illinois, Minnesota and Wisconsin. We bring together team members with a variety of backgrounds and experiences to help provide financial services to support agriculture and rural communities. Join us in a culture that not only promotes meaningful work and professional development, but provides a flexible, hybrid work environment and excellent benefits, which empower you to thrive both personally and professionally.

How we support you:

  • Hybrid model – up to 50% work from home
  • Flexible schedules including ample flexibility in the summer months
  • Up to 9% towards 401k (3% fixed Compeer contribution plus up to 6% match)
  • Benefits: medical, dental, vision, HSA/FSA, life & AD&D insurance, short-term and long-term disability, wellness program & EAP
  • Vacation, sick leave, holidays/floating holidays, parental leave, and volunteer paid time off
  • Learning and development programs
  • Mentorship programs
  • Cross-functional committee opportunities (i.e. Diversity & Inclusion Council, emerging professional groups, etc.)
  • Professional membership/certification reimbursement and more!

Casual/seasonal & intern team members are not eligible for benefits except for state-mandated programs.

To learn more about Compeer Financial visit www.compeer.com/careers. 

This position offers a hybrid work option up to 50% remote and is based out of either Lakeville, MN; Bloomington, IL; Naperville, IL; Sun Prairie, WI office location(s).


The contributions you will make: 

This position plays a pivotal role in safeguarding the organization against fraud risk and is responsible for developing, implementing, enhancing and maintaining a fraud program to promote adherence to internal fraud-related policies and procedures and existing, new or revised regulatory requirements and/or best practices. Responsibilities include conducting fraud risk assessments, performing comprehensive fraud risk analysis, investigating suspicious activities, and leading efforts to mitigate fraud-related risks. This position serves as the fraud subject matter expert for the organization and manages the organization’s regulatory criminal referral responsibilities as directed by the Criminal Referral Officer. 

A typical day: 

Fraud Program Development and Management

  • Develops, implements and maintains a formal fraud program for identifying, measuring, monitoring and reporting fraud risk.
  • Monitors emerging fraud issues, develops reporting that outlines shifting fraud trends to mitigate fraud losses and assists leadership in determining acceptable fraud risk tolerances.
  • Collaborates with business units to develop and maintain controls and processes to mitigate fraud risk while ensuring an optimal balance between risk management and customer experience.
  • Serves as a subject matter expert on fraud-related matters as projects and initiatives are introduced, implemented and revised.
  • Participates in the front end of new product and service development to proactively consider and address fraud issues during implementation as well as provide ongoing support post-implementation.
  • Ensures policies, procedures and programs comply with applicable regulatory requirements and mitigate fraud risk.
  • Provides guidance and training to team members on fraud awareness, prevention, and response.

Fraud Analysis, Investigations and Criminal Referrals

  • Conducts thorough fraud risk assessments to identify potential vulnerabilities and areas of concern within the organization's operations.
  • Analyzes complex data sets to detect patterns, trends, and anomalies indicative of fraudulent activities.
  • Investigates fraud-related cases referred by business partners, and assist internal investigations of potential fraud incidents as directed.
  • Develops and enhances fraud detection tools, systems, and processes.
  • Gathers information and evidence to present to the organization’s Criminal Referral Officer to make criminal referral determinations
  • Files criminal referrals with the Farm Credit Administration and appropriate law enforcement when required and as directed by the Criminal Referral Officer.
  • Facilitates partnership with law enforcement when necessary to assist investigations.

The skills and experience we prefer you have: 

  • Bachelor’s degree in business administration, finance, criminal justice or related field or an equivalent combination of education and experience sufficient to perform the essential functions of the job.
  • Minimum of 5 years of experience in fraud or anti-money laundering field, preferably in the financial services industry
  • Certified Fraud Examiner (CFE) or Certified AML and Fraud Professional (CAFP) designation preferred.
  • Proven ability to perform fraud risk assessments, conduct comprehensive fraud investigations, and develop effective mitigation strategies.
  • Strong understanding of fraud processes and activities common to a financial services company.
  • Sound knowledge of financial services operations, lending processes, and regulatory requirements.
  • Strong analytical and problem-solving skills, with the ability to interpret complex data sets and identify trends.
  • Excellent communication skills, both written and verbal, with the ability to convey complex information clearly and concisely.
  • Proficiency in using fraud detection tools, data analysis software, and Microsoft Office Suite.
  • Familiarity with relevant regulations and laws related to fraud prevention and investigation.
  • Demonstrated ability to work collaboratively in cross-functional teams and to lead initiatives.

#IND100

How we will take care of you:

Our job titles may span more than one career level (associate, senior, principal, etc.). The actual title and base pay offered is dependent upon many factors, such as: training, transferable skills, work experience, business needs and market demands. The base pay range is subject to change and may be modified in the future. This role is eligible for variable compensation and other benefits.

 

Base Pay

$73,700 - $111,400 USD

Compeer Financial is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.

Must be authorized to work for any employer in the United States. Compeer is unable to sponsor or take over sponsorship of an employment visa at this time.

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