Group 1001 is a consumer-centric, technology-driven family of insurance companies on a mission to deliver outstanding value and operational performance by combining financial strength and stability with deep insurance expertise and a can-do culture. Group1001's culture emphasizes the importance of collaboration, communication, core business focus, risk management, and striving for outcomes. This goal extends to how we hire and onboard our most valuable assets - our employees.
Group 1001, and its affiliated companies, is strongly committed to providing a supportive work environment where employee differences are valued. Diversity is an essential ingredient in making Group 1001 a welcoming place to work and is fundamental in building a high-performance team. Diversity embodies all the differences that make us unique individuals. All employees share the responsibility for maintaining a workplace culture of dignity, respect, understanding and appreciation of individual and group differences.
The Director of Operational Fraud and Risk Analysis leads initiatives to identify, assess, and mitigate operational risks and fraudulent activities across the organization. This leadership role requires in-depth expertise in risk management, fraud prevention, and data analysis, as well as the ability to guide and manage a team of analysts. This person will develop, implement, and oversee policies and controls to ensure effective fraud prevention, detection, determent, and risk management strategies, driving continuous improvements through technology and ensuring compliance with regulatory standards.
Responsibilities:
Develop and implement a strategic framework for fraud detection, prevention, and risk mitigation across operational processes.
Establish and maintain robust policies, processes, and controls to manage and minimize risks in alignment with regulatory requirements and organizational objectives.
Drive the design and development of key risk indicators (KRIs) and key performance indicators (KPIs) to monitor, report, and manage risk exposures.
Foster a culture of continuous improvement, encouraging best practices in fraud detection and risk mitigation.
Coordinate cross-functional efforts, collaborating with teams across finance, IT, compliance, legal, and other departments to address risk and fraud issues.
Oversee the monitoring and analysis of transactions, activities, and data to detect unusual patterns, emerging risks, and potential fraud.
Continuously monitor legislation and regulatory updates that impact annuities and ensure operational alignment and implementation.
Leverage advanced analytical tools and machine learning techniques to enhance fraud detection capabilities.
Collaborate with IT and data teams to implement and optimize fraud detection systems, staying informed about the latest technologies and trends in fraud prevention.
Conduct regular operational risk assessments and manage risk reviews for new products, processes, and systems.
Identify control weaknesses and design enhancements to address vulnerabilities and improve operational resilience.
Coordinate with internal audit and compliance teams to ensure that risk controls and policies comply with regulatory and internal standards.
Lead and manage a high performing function dedicated to researching, recommending and operationalizing risk averse solutions.
Prepare and deliver detailed reports and presentations to senior leadership on risk exposure, incident analysis, and mitigation strategies.
Provide insights and recommendations for enhancing the organization's overall risk posture, based on data-driven analysis and industry best practices.
Represent the operational risk and fraud team in senior leadership meetings, regulatory audits, and other forums as required
Maintain awareness of industry trends, regulatory changes, and best practices in operational risk management and fraud prevention.
Advocate for and implement changes in policies and procedures to stay ahead of evolving fraud risks and regulatory expectations.
Qualifications:
Bachelor's degree in Finance, Risk Management, Business, Pre-Law, or a related field (Master's degree preferred).
8+ years of experience in operational risk, fraud detection in a financial services company offering life and annuities products.
Strong understanding of risk management frameworks, fraud detection techniques, and regulatory standards.
Proficiency in data analysis tools (e.g., SQL) and experience with fraud detection software.
Strong analytical, problem-solving, and decision-making abilities.
Excellent interpersonal, communication, and presentation skills, and experience engaging with senior stakeholders to drive successful outcomes.
Relevant certifications (e.g., CFE, CRISC, FRM) are highly preferred.
Key Competencies:
Strategic thinking with a proactive approach to managing operational risk and fraud.
Strong leadership and people management skills, with an ability to develop and empower a team.
Ability to navigate complex regulatory environments and adapt strategies accordingly.
High level of integrity, confidentiality, and ethical standards.
Benefits Highlights:
Employees who meet benefit eligibility guidelines and work 30 hours or more weekly, have the ability to enroll in Group 1001's benefits package. Employees (and their families) are eligible to participate in the Company's comprehensive health, dental, and vision insurance plan options. Employees are also eligible for Basic and Supplemental Life Insurance, Short and Long-Term Disability, and to enroll in the Company's Employee Assistance Program and other wellness initiatives. Employees may also participate in the Company's 401K plan, with matching contributions by the Company.
