Director, Fraud & Compliance - Anti-Money Laundering
Position Overview:
The Director of Fraud & Compliance - AML will oversee the development, implementation, and management of the company’s fraud prevention and AML programs. This includes ensuring compliance with federal and state regulations, detecting and mitigating fraudulent activity (with a focus on gift card fraud, money transfers via wire and Western Union, and check cashing policies), and leveraging machine learning tools for predictive analytics and fraud detection. The ideal candidate will have experience in managing the complexities of ML-driven fraud detection systems (including "black box" models), ensuring both accuracy and transparency in the face of regulatory scrutiny.
Key Responsibilities:
- Develop & Lead AML Strategy: Design and implement a comprehensive Anti-Money Laundering and fraud prevention strategy tailored to retail and financial services.
- Regulatory Compliance: Ensure compliance with all federal and state regulations, including BSA (Bank Secrecy Act), USA PATRIOT Act, and other relevant AML laws.
- Gift Card & Payment Fraud Management: Oversee investigations and strategies related to gift card fraud, money transfers, and check cashing fraud across our 600 retail locations.
- Machine Learning (ML) in Fraud Detection: Implement and manage ML-driven fraud detection systems. Ensure transparency and explainability of ML models, especially when dealing with "black box" models, in regulatory environments. Collaborate with data science teams to continuously improve model accuracy and reduce false positives.
- Transaction Monitoring: Manage transaction monitoring systems, including ML-powered solutions, to identify suspicious activity and ensure timely reporting of suspicious transactions.
- Training & Awareness: Create and deliver fraud and AML training programs for staff at all levels, emphasizing fraud detection, prevention, and reporting protocols, including the use of AI and ML tools.
- Stakeholder Collaboration: Work closely with internal departments, including Legal, Finance, Data Science, and Operations, as well as external partners like law enforcement, regulatory agencies, and third-party service providers.
- Risk Assessment: Conduct risk assessments to identify vulnerabilities within the company’s operations and recommend strategies for mitigation, particularly focusing on technology-driven solutions.
- Data Analysis & Reporting: Analyze trends and patterns in fraud and money laundering activities using advanced analytics, providing regular reports to senior management, and ensuring accurate filing of Suspicious Activity Reports (SARs).
- Team Leadership: Lead and mentor a team of fraud and compliance professionals, ensuring high performance, ongoing development, and alignment with company objectives.
- Vendor Management: Evaluate and manage third-party vendors and solutions related to fraud prevention, AML monitoring, and compliance technologies, including ML-based platforms.
Qualifications:
- Bachelor's degree in Criminal Justice, Finance, Business Administration, Data Science, or a related field (Master’s degree preferred).
- 7+ years of experience in fraud prevention, AML compliance, or a related field, preferably within a retail or financial services environment.
- Deep knowledge of AML regulations, financial crime, and fraud prevention strategies, particularly related to gift card fraud, money transfers, and check cashing.
- Experience with FinTech services and products or with a Money Services Business (MSB)
- Experience with machine learning (ML) tools and models for fraud detection, including managing "black box" models and ensuring regulatory compliance for explainability.
- Familiarity with fraud detection and prevention technologies and systems, including AI-driven analytics.
- Strong understanding of regulatory compliance, including the BSA, USA PATRIOT Act, OFAC, and FinCEN requirements.
- Excellent leadership skills, with the ability to mentor and manage a team.
- Strong communication and interpersonal skills for collaborating with internal teams and external partners.
- Certified Anti-Money Laundering Specialist (CAMS) certification or similar is preferred.
ABOUT US
C&S Wholesale Grocers, LLC is an industry leader in supply chain solutions and wholesale grocery supply in the United States. Founded in 1918 as a supplier to independent grocery stores, C&S now services customers of all sizes, supplying more than 7,500 independent supermarkets, chain stores, military bases and institutions with over 100,000 different products. C&S also proudly operates and supports corporate grocery stores and services independent franchisees under a chain-style model throughout the Midwest, South and Northeast. We are an engaged corporate citizen, supporting causes that positively impact our communities. C&S has established a subsidiary, 1918 Winter Street Partners, which will operate the recently announced purchase of several hundred stores that have become available due to The Kroger Co. and Albertsons Companies Inc. merger. The transaction is not final and C&S’s agreement is subject to Kroger and Albertsons resolving the pending cases in court.
