About Us

How This Role Impacts Live Oak and its People

The Director, Fraud & Loss Prevention is responsible for the first-line prevention strategies for enterprise fraud. They will lead and manage the Bank’s fraud prevention efforts, ensuring robust measures are in place to detect and prevent fraud attempts. This role involves overseeing a team of Fraud Analysts, managing daily workloads, and providing strategic insights into processes, policies, and procedures.

What You’ll do at Live Oak

• Leads a team of Fraud Analysts and becomes the primary point of contact with escalated fraud issues

• Spearheads the Bank’s fraud prevention initiatives, reviewing daily alerts from transaction monitoring systems, and ensuring effective measures are in place to detect and prevent fraud

• Recommends and implements new fraud prevention rules and oversee system upgrades as necessary

• Oversee the management of fraud-related cases involving bank or customer losses, ensuring thorough investigation and resolution. Communicate case statuses to relevant team members and maintain detailed records with supporting documentation

• Present fraud program updates to senior leadership committees, providing insights and recommendations

• Identify emerging risks and threats and propose operational and analytical improvements

• Drive the implementation of productivity improvements and platform enhancements to optimize fraud detection

• Maintain comprehensive knowledge of various financial banking products, including fraud prevention for credit cards, savings accounts, mortgage warehouse lending, and loans

How You’ll Do It

• Collaborate with cross functional teams such as operational risk, internal audit, compliance, and process owners to evaluate and enhance the effectiveness of fraud controls.

• Monitor and enhance fraud controls and procedures to improve customer experience, fraud detection effectiveness, and operational efficiency

• Identify emerging risks and threats and propose operational and analytical improvements

• Strong working knowledge of banking systems, both back office and branch processes, and anti-fraud detection, prevention, and monitoring systems.

• Excellent verbal, written, and presentation communication skills. Ability to lead and implement ideas effectively in a collaborative and cross-functional environment.

• Responsibility for customer advocacy, ensuring alignment of fraud prevention with the lines of business and overall ownership of strategic plan

• Develop and acquire talent while staying abreast of industry, regulatory, and company trends as they relate to fraud

Required and Preferred Experience:

• Bachelor’s Degree and 10+ years of experience in fraud prevention or investigation within the Banking/Financial Services Industry of which 5+ years must be in a supervisory or management capacity

• Certified Fraud Examiner (CFE) or Certified Financial Crimes Investigator preferred

• Demonstrated leadership abilities, with excellent organizational and time management skills. Proven ability to manage multiple projects and initiatives while handling BAU responsibilities

• Proficiency with Microsoft Office (Excel, PowerPoint, Word, Outlook, SharePoint), Salesforce and other banking platforms

• Travel may be required. Position based in Wilmington, NC

Our Values

• Dedication: Possess a deep commitment to Live Oak Bank’s mission and core values, exemplified through a strong work ethic, adaptability and pride in your work.

• Ownership: Take initiative to deliver positive results by proactively and creatively solving problems, while maintaining a high degree of quality.

• Respect: Treat everyone wi.th courtesy, politeness, and kindness.

• Innovation: Embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.

• Teamwork: Foster collaboration, accountability, and trust with others and understand that together, we do more

For a detailed overview of our employee benefits please visit: http://www.liveoakbank.com/careers/

Live Oak Bank is an Affirmative Action and Equal Opportunity Employer, Minorities/Women/Veterans/Disabled. We consider applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, veteran status or disability. Equal access to programs, service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources at[email protected]

EEO is the Law

Commitment to Diversity
Live Oak Bank is committed to creating and maintaining a workplace in which all employees have an opportunity to participate and contribute to the success of the business and are valued for their skills, experience, and unique perspectives. This commitment is embodied in company policy and the way we do business at Live Oak Bank and is an important principle of sound business management.

The base pay range for this position is $140,000.00 - $200,000.00 per year. Compensation may also include annual bonuses and long-term incentives, subject to various metrics and company policy. A candidate’s salary is determined by several factors including travel, relevant work experience or skills and expertise.

Please note that we provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave, including but not limited to Arizona, California, Colorado, District of Columbia, Maine, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, and Washington.