Where Ambition Meets Innovation
Build a career that matches all your initiative with an impressive dose of innovation. From cutting-edge resources and a collaborative environment to the freedom to make an impact and more, you’ll find the ingredients you need at LPL Financial to shape your success while helping clients pursue their financial goals.
Job Overview:
LPL Financial is currently looking for an Analyst for Fraud Risk within the Fraud Risk and AML Compliance business unit. The Analyst will report to the Fraud Manager, and will be responsible for screening, identifying, and reporting various types of fraud to protect our clients and advisors, and comply with regulations and guidance from the OCC, SEC, FINRA, FinCEN, OFAC and other governing bodies.
The Analyst will work primarily at an individual level but will partner closely with their team and members of the financial intelligence unit (FIU); governance risk and compliance (GRC), service, trading, operations groups, risk personnel as well as key business partners to gather, review and analyze data to assess reasonable cause, and escalate and manage an inquiry related to fraud. Collection of data including full documentation, supporting artifacts and internal and external due diligence checks and case details are to be organized and archived.
Responsibilities:
Field and manage communications from financial advisors, service teams, and/or operational areas related to fraud and fraud prevention with the utmost emphasis on safety and security of information
Create and maintain accurate case files for fraud investigations
Work with internal and external partners to stop or reclaim fraudulent transactions
Log, direct, and track reimbursements, reclaim, and recall amounts on fraud cases and report out monthly on case status and overall trends
Ensuring that all activities and duties are carried out in full compliance with regulatory requirements, Risk Management Framework and internal LPL Financial Policies and Policy Standards
Develop, implement, monitor and provide performance tracking of transactional and account level management of fraud events, strategies and mitigation tools, including monetary and non-monetary events
Execute an ongoing analysis of risks, vulnerabilities and market trends as it pertains to fraud, analyze large data sets and find anomalies and commonalities
Collaborating with other teams to deliver requirements for implementation of new fraud strategies
Monitoring existing fraud models/strategies and ensuring that they meet false-positive and detection rate criteria; explains variances and recommends remedial actions; mine customer, account and transactional data to develop segmentation to improve fraud detection and minimize impact to legitimate transactions
Maintain and follow existing operational policies and procedures as well as the creation of new guidelines to more accurately identify and document fraud. Identify gaps or risks in policies along with the technical skills to create reporting.
Collaborate within the team to implement initiatives and projects sponsored and approved by management. Provide internal training on the Firm’s fraud prevention and awareness programs, policies and procedures
Requirements:
Bachelor’s Degree in Business, Economics, Accounting/Finance and/or equivalent experience preferred
Professional licenses/certifications (e.g. CFE or CAMS,); a plus
1 – 3 years of industry experience (preferably in Fraud Investigations)
Experience with Equifax, LexisNexis, TransUnion or other information security providers a plus
Preferences & Core Competencies:
High level of analytical skills and problem-solving
Ability to multi-task, work well under pressure with commitment to deliver under tight deadlines
Working knowledge of regulatory requirements (preferably AML / Fraud)
Written and verbal communication skills with the ability to present information in differing degrees of details and form depending on the audience
Strong judgment and…