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Senior Fraud Deterrence Analyst Scotiabank – Toronto, ON

Toronto, ON

Requisition ID: 86006

Cost Centre: APP FRAUD

Employee Referral Program – Potential Reward:

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Contributes to the overall success of Fraud Deterrence (FD) by ensuring specific individual goals, plans, initiatives are executed / delivered in support of the team’s business strategies and objectives. Ensures all activities conducted are in compliance with governing regulations, internal policies and procedures.

The Fraud Analyst, is responsible for detection and prevention of suspected fraud incidents through review of case/alerts created by Fraud Deterrence alert system(s). Fraud Analyst will review case/alerts which include unusual and/or fraudulent activity, with time sensitivity and exposure to financial and/or reputational and/or legal and/or regulatory risk. The Analyst will ensure complex investigations are referred to their Supervisor for further action. The Fraud Analyst will have previous experience in dealing with Corporate Functions, Commercial and Small Business activities and practices.


  • Champions a customer focused culture to deepen customer relationships and leverage broader Bank relationships, systems and knowledge. Ensure that the customer service provided is of the highest quality by:
  • Prioritizing all requests for information, establishing response times and escalating requests to your Supervisor for resolution as necessary, based on workload;
  • Review each case/alert and make a decision including any instances that may involve some uncertainty or with less than perfect information. All the facts that will support the reason for the decision must be clearly documented and saved within applicable systems;
  • Analyzing each case/alert and investigating as required, by;
  • Reviewing customer account information in respect to the case/alert, summarizing the referential information using the case management tool(s) and determining if/how to investigate the account(s) activity;
  • Investigating item(s) by reviewing available documents and/or account history, supporting documentation (e.g. bank statements, cheques), and/or reviewing for related previous incident/alerts and/or by contacting the Customer, Branch or relevant Business Line;
  • Assisting the Department in identifying potential fraud trends to reduce losses and costs to the customer and/or Bank;
  • Ensuring concerns and/or notifications of unusual/fraudulent incidents are referred to applicable stakeholders for the appropriate measures to be taken in order to address the activity;
  • Keeping either the customer, relevant Business Line/Stakeholder and/or other External Partners informed of decisions and confirm the outcome of case/alerts where required.
  • Act on case/alerts effectively and efficiently to ensure risk to the Bank is minimized by:
  • Identifying Fraud through completions of thorough review of the case/alerts through completion of thorough review of the case/alerts information and account history which includes up to a 90-day review of all cheques for customers with known fraud concerns;
  • Ensuring all recommended actions have been recorded, appropriate systems have been updated, and required documentation is logged within the case management system(s)
  • Communicating findings to the appropriate stakeholders or outcomes to the customer;
  • Taking the necessary measures to terminate problematic customer relationships and ensuring that all administrative activities surrounding the termination are completed by the appropriate partners. Where necessary, filing Unusual Transaction Reports to ensure compliance with AML regulatory requirements.
  • Contribute to the overall effectiveness and efficiency of the Department by:
  • Maintaining ownership of work received through case/alert system and identifying, investigating and escalating new fraud patterns that are identified using various systems;
  • Assisting when required specifically when volumes exceed the standard work day;
  • Assisting the department in identifying potential fraud trends to reduce losses and cost to the Bank;
  • Recommending changes to existing detection rules to adjust to newly identified fraud patterns as well as developing communications to advise Stakeholders of new and emerging fraud trends;
  • Escalating to Management any incidents/alerts that cannot be completed on a timely basis or within the department’s defined SLA;
  • Identifying, analyzing and recommending changes to current departmental processes that may increase Customer Satisfaction and/or efficiencies within the department;
  • Identifying common traits with case/alerts to assist the Department in reducing the risk to the Bank;
  • Escalating and communicating concerns and required next actions to applicable stakeholders or customers.
  • Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
  • Actively pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the code of Business Conduct.

Education/ Experiences:

  • Post-secondary education and/or a minimum of 2 years of relevant experience in Banking.
  • Previous experience with Corporate Functions, Small Business and Commercial Banking activates and practices.
  • Existing banking experience with previous Fraud or Commercial experience an asset.
  • Fully bilingual in both English and French (oral and written) an asset.
  • Superior communication skills; verbal, written and electronic.
  • Thorough knowledge of the Bank’s delivery channels, products, benefits and services.
  • Thorough knowledge of all approved operating procedures in relation to all the accounting support systems.
  • Working knowledge of industry and common trends and information regarding fraud detection/prevention.
  • Strong analytical skills to make rational and logical deductions at times with limited information;
  • Ability to gather, analyze, organize, document and present large volumes of information in a succinct and organized manner.
  • Working knowledge of the tools used in the department (e.g., Pega, Citadel, Memento/FCM, Data Warehouse, Mongoose, PPM, Net Connect, Certapay, s-Client, Intralink including UTR filing, etc.).
  • Thorough knowledge of the Bank’s systems (e.g., CIS, KS, KT, FFT, AS400, IntraLink applications etc.).

Standard business hours however subject to change to meet the demand of our customers located across Canada

Location(s): Canada : Ontario : North York

As Canada’s International Bank, we are a diverse and global team. We speak more than 100 languages with backgrounds from more than 120 countries. Our employees are committed to a superior customer experience and use the Bank’s six guiding sales practice principles to ensure they act with honesty and integrity.

At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please click here. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.

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