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Fraud Investigator-1900019935

Job Information
Author pmnationtalk
Date October 3, 2019
Type Full Time
Company BMO Financial Group
Location Toronto, ON
Category Banking / Finance
Client Bank of Montreal
Contact Information
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Fraud Investigator-1900019935

The Retail Automotive Finance (RAF) Fraud Investigator identifies opportunities for enhancing RAF’s fraud prevention systems and processes in an effort to reduce losses.  The RAF Fraud Investigator is responsible for evaluating current fraudulent activity perpetrated against the business and will work with partners in Fraud Management to identify gaps that provide opportunities for fraud to infiltrate the RAF business.  The RAF Fraud Investigator investigates transactions that have been identified as being suspicious. The Fraud Investigator analyzes and reports Fraud Management statistics including “saves” and “losses”.  Key elements of role include the following:

  • Conducts analysis on dealership customer and end consumer account and transactional data to create segmentation and develop fraud rules/strategies while balancing the impact to operational teams and the customer experience.
  • Investigate transactions escalated for lending fraud concerns.  Perform preliminary investigative duties to determine if suspicious activities are evident. Prepare case files comprised of supporting documentation for review decision, and act as liaison between business units and Fraud Management team.
  • Deliver fraud awareness training for newly hired personnel
  • Review lending policies and procedures to ensure best practice fraud-prevention and detection practices are addressed.
  • Create and maintain accurate department records for all escalated cases.
  • Creates management reporting for fraud metrics, strategy performance and trends analysis.
  • Maintains on-going processes and data updates.
  • Provides insight and direction to the business about emerging fraud trends or imminent risks.
  • Communicate investigative findings and reports to all levels of management that identify trends and exposure areas, while developing corrective actions that reduce exposure throughout the organization.
  • Monitors and adjusts existing detection strategies to ensure continued effectiveness.
  • Maintains productive relationships with all internal stakeholders including Fraud management, Risk Management, Product, Retail, Finance as well as external vendors
  • Acts as a subject matter expert and represents the team at system/project meetings as well as industry forums.

Given the key first line Fraud investigation role, the Fraud Investigator will maintain a dotted line relationship to Senior Manager, Fraud Analytics.

  1. Business Delivery & Operational Effectiveness
  • Analyze fraudulent account behaviour to determine root cause of losses and perform analysis on customer accounts to identify potential fraudulent transactions
  • Obtain supporting documentation in adherence with established processes.
  • Prepare fraud reports identifying types and linkages to ensure accurate documentation to substantiate case and provide critical information assessments to business and Fraud Management as required.
  • Provide detailed, effective input to fraud analytics for the purpose of reporting, analyzing and detecting unusual or fraudulent activity on customer accounts.
  • Support effective utilization of fraud detection systems, tools and reports to prevent, detect and manage fraud losses.
  • Provide subject matter expertise to diagnose, determine the nature of the potential fraud incident and making decisions on appropriate resolution path, and in support of day to day diagnostic investigation on fraud patterns
  • Contribute to problem and event management efforts as required, working with team members to ensure resolution is completed as quickly and efficiently as possible.  Act as the point of escalation for team members as required.

Client & Relationship Management

  • Identify process improvement opportunities to increase efficiency and effectiveness of team and still maintain an exceptional level of service to the customer.
  • Provide fraud detection assistance to RAF customers by handling calls in an informed, professional and efficient manner.
  • Probe to understand customer needs and provide advice related to financing issues related to Fraud that meet the customer’s objectives and manage all transactional outcomes of the call in a professional and accurate manner (e.g., complete any relevant administration requirements).
  • Provide excellent customer service in line with desired customer experience, locating/contacting customers/branches and advising them of incidents and providing them with information/instruction as necessary, following standardized script(s) as appropriate.

Risk Management and Control

  • Create and review output of fraud detection system and other sources and use information to determine steps needed to be taken by customers and fraud management as needed.
  • Protect RAF assets by adhering to all applicable lending regulations, policies and procedures, regulatory requirements, process requirements and established risk guidelines.
  • Maintain the confidentiality of both customer and Bank information to protect the customer and the Bank and to ensure compliance with Bank policies and procedures
  • Follow security and safeguarding procedures in accordance with Bank P&P for the prevention of loss due to fraud or defalcation
  • Understand regulatory and compliance requirements that include, but are not limited to Financial Consumer Agency of Canada (FCAC) consumer provision requirements and Privacy Act provisions, in accordance with Bank policies and procedures; take appropriate action as necessary

Change and Innovation

  • Ability to manage change in a fast paced environment



  • Bachelor’s degree required or equivalent work experience (8+ years in financial services)
  • Strong knowledge of banking products and services
  • Consumer / lending experience would be an asset
  • Significant knowledge of Indirect Lending business and industry
  • Knowledge of fraud, risk management and compliance best practices
  • In-depth knowledge of processes & procedures, applicable industry regulations and inter-relationships (applicable to lending related fraud types)
  • Bilingualism (French & English) is an asset


  • In-depth critical thinking, analytical & communication skills
  • Strong conflict resolution skills
  • Strong decision making & problem solving skills
  • Strong relationship building skills
  • Strong time management with ability to multi-task
  • Proficient in Microsoft (Excel, PowerPoint, Word)

At BMO we have a shared purpose; we put the customer at the centre of everything we do – helping people is in our DNA. For 200 years we have thought about the future—the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we’re changing the way people think about a bank.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at

To submit your application for this job, please go to:

BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process.

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