Analyst, Ops Fraud Risk

Are you a team player? Are you curious to learn? Are you interested in working in meaningful projects? Do you want to work with cutting-edge technology? Are you interested in being part of an innovative team that builds products which are transforming the organization? If so, LPL Financial is the place for you!

LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader* in the markets we serve, supporting more than 22,000 financial advisors, 1,100 institution-based investment programs, and 500 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.

Excited to learn more? If so, then this could be the role for you! 

Job Overview:

LPL Financial is currently looking to hire an Analyst for Fraud Operations within the Risk Management, Controls, and Fraud Operations business unit, the Analyst 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

• Participate in individual and department goal development and execute on tactical strategies for goal attainment, effectively managing competing priorities of requests working under strict deliverables

What are we looking for?

We want strong collaborators who can deliver a world-class client experience. We are looking for people who thrive in a fast-paced environment, are client-focused, team oriented, and are able to execute in a way that encourages creativity and continuous improvement.

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

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

• Work in a collaborative team environment

• Assist Senior Analysts where necessary

• Excellent 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 experience with escalation of matters and recommended solutions

• Able to adapt to changing priorities with attention to detail and quality assurance.

Preferences:

• Working knowledge of regulatory requirements (preferably AML / Fraud)

• Proficient in MS Office (Word, Access, Excel, PowerPoint, Visio)