First Merchants Bank is seeking a Fraud Strategy & Tools Specialist to join our team! As part of the External Fraud Working Group’s strategic initiative, this role is designed to centralize and enhance the bank’s use of fraud prevention and detection tools and technologies. The Fraud Strategy & Tools Specialist will be responsible for fully understanding, optimizing, and aligning fraud tools with business goals, while proactively identifying trends and recommending improvements. This role will serve as a key liaison between fraud operations, line of business (LOB) teams, and external vendors.
Essential Duties and Responsibilities:
- Tool Optimization & Oversight
- Attend vendor and user group meetings to stay current on tool capabilities and updates.
- Monitor system changes and assess their impact—both positive and negative—on fraud detection and prevention.
- Fully understand the capabilities of existing fraud tools and identify opportunities for enhancement.
- Strategic Coordination & Documentation
- Understand fraud practices and control effectiveness.
- Coordinate with LOBs to support decision-making related to fraud tools and strategies.
- Document current state, key decisions, and maintain up-to-date records of tool configurations and usage.
- Research and recommend leading practices in fraud prevention and technology utilization.
- Fraud Intelligence & Triage
- Identify and analyze fraud trends across channels and products.
- Participate in the fraud triage team to support rapid response and resolution.
- Provide recommendations for ongoing tuning and configuration of fraud detection systems.
- Proactive Engagement & Business Alignment
- Bring forward ideas and recommendations to improve fraud prevention strategies.
- Align fraud tool usage with broader business goals and risk appetite.
- Serve as a proactive partner to internal stakeholders and external vendors.
To be successful in this position, we require the following:
- Bachelor’s degree in business, finance, information systems, or related field.
- A minimum of three (3) years of experience in fraud prevention, risk management, or financial technology.
- Fraud Analytics Experience with one or more fraud detection tools or platforms such as NICE/Actimize, Q2 Sentinel, FICO, Abrigo BAM+, Vertifi, TrueChecks, Alloy, etc.
The following would be a plus:
- Strong analytical and problem-solving skills.
- Excellent communication and collaboration abilities.
- Experience working with cross-functional teams.
- Knowledge of fraud typologies and emerging threats.
- • Ability to translate technical capabilities into business value.
- Detail-oriented with strong documentation and organizational skills.
First Merchants offers the following:
- Base Pay PLUS Bonuses
- Medical, Dental and Vision Insurance
- 401k
- Health Savings and Flexible Spending Accounts
- Vacation/Sick Time
- Paid Holidays
- Paid Parental Leave
- Tuition Reimbursement
- Additional Benefits
A little about us:
First Merchants is guided by a genuine philosophy of being a meaningful place to work and having a prosperous impact across all walks of life throughout the communities we serve, including consumers, businesses and other organizations. Our Vision, Mission and Team statement reflect and reinforce that authentic service philosophy.
Our Vision is:
To enhance the financial wellness of the diverse communities we serve.
Our Mission is:
To be the most responsive, knowledgeable, and high-performing financial organization for our clients, teammates, and shareholders.
Our Team:
"We are a collection of dynamic colleagues with diverse experiences and perspectives who share a passion for positively impacting lives. We are genuinely committed to attracting and engaging teammates of diverse backgrounds. We believe in the power of inclusion and belonging."
Apply today to begin your career with us!
Equal Opportunity Employer/Protected Veterans/Individuals with DisabilitiesThis employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
Top Skills
What We Do
First Merchants Corporation is the largest financial services holding company in Central Indiana, headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank). First Merchants Corporation’s common stock is traded on the NASDAQ Global Select Market System under the symbol FRME. First Merchants offers customers broad financial services throughout locations in Indiana, Ohio, Illinois and Michigan providing: • Commercial Banking (business) – checking, treasury management, card services, financing, loans, electronic banking, online and mobile banking. • Personal Banking (consumer) – checking, savings, CDs, mortgages, loans, IRAs, HSAs, online and mobile banking. • Private Wealth Advisors - trusts, investments, 401(k) plans, 403(b) plans, profit sharing plans, pension plans, cross-tested plans, cash balance plans, Flexible Spending Accounts, IRAs, SEP IRAs, and succession planning. First Merchants is committed to customers by: • Developing strong relationships. o As financial advisors – our professionals listen and provide solutions o The tenure of our professionals averages eight years, meaning you will enjoy continuity of service o We hire local professionals from the communities we serve • Customers benefit from local decision making. o Decisions are made faster o The process is streamlined, with each customer having a single point of contact. o Our financial professionals are empowered to develop tailored solutions. • The local communities we serve benefit from First Merchants’ involvement and support.
