Prepaid Fraud Risk Manager

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

The Prepaid Fraud Risk Manager serves as the designated fraud risk subject matter expert for prepaid debit card products, responsible for developing, executing, and continuously enhancing fraud risk management strategies that protect clients, cardholders, and the enterprise. This role oversees fraud loss performance, fraud controls, and emerging fraud risk trends while balancing customer experience, regulatory requirements, and operational effectiveness.

The manager leads a team of fraud analyst subject matter experts, providing strategic direction, coaching, performance management, and career development while fostering a culture of collaboration, innovation, accountability, and continuous improvement. This role partners closely with product, operations, compliance, technology, risk management, issuing banks, payment networks, and other internal and external stakeholders to identify emerging threats, implement fraud mitigation strategies, support new product and client launches, and drive business results.

The successful candidate will combine deep fraud expertise, analytical acumen, leadership capabilities, and strong communication skills to translate complex fraud risks into actionable business insights. This role also promotes innovation through the responsible use of artificial intelligence, data storytelling, and advanced analytics to improve fraud outcomes, enhance customer experiences, and support executive decision-making.

Key Responsibilities

• Serve as the primary fraud risk subject matter expert for prepaid debit cards, providing guidance on fraud controls, risk mitigation strategies, and emerging fraud threats.

• Lead, coach, and develop a team of fraud analyst subject matter experts, establishing clear goals, performance expectations, and development plans while fostering a high-performing and collaborative culture.

• Oversee fraud loss performance for the assigned business line and identify opportunities to reduce fraud losses through effective controls, strategies, and monitoring practices.

• Monitor fraud trends, emerging threats, and high-risk accounts to proactively identify risks and implement mitigation strategies.

• Conduct root cause analysis of fraud events, loss trends, and significant fraud cases to identify vulnerabilities and recommend corrective actions.

• Partner with product, operations, technology, and risk stakeholders to ensure appropriate fraud controls are incorporated into new products, services, and client implementations.

• Collaborate with industry partners, including issuing banks, Visa, Mastercard, and other third parties, to monitor fraud trends, share intelligence, and strengthen fraud prevention capabilities.

• Manage fraud-related customer escalations and partner inquiries, ensuring timely resolution and effective communication.

• Oversee fraud and Customer Identification Program (CIP) related requests from issuing banks and other external stakeholders.

• Support business development activities by providing fraud risk expertise and responses for client proposals, RFPs, and due diligence requests.

• Evaluate, recommend, and support implementation of new fraud tools, data sources, and capabilities that improve fraud detection, prevention, and operational effectiveness.

• Translate complex fraud performance metrics, risk trends, and analytical findings into executive-level communications and actionable business recommendations.

• Develop and contribute to periodic business reviews and presentations using effective data visualization and storytelling techniques.

Additional Responsibilities

• Identify and pursue opportunities to leverage artificial intelligence, machine learning, and advanced analytics to improve fraud detection, operational efficiency, customer experience, and business communications.

• Promote best practices in data storytelling, visualization, and executive communication across the team.

• Support internal audits, regulatory examinations, risk assessments, and compliance-related activities.

• Maintain strong partnerships across business lines and support cross-functional initiatives related to fraud risk management.

• Utilize approved AI tools, analytics platforms, and digital solutions responsibly, validating outputs and ensuring compliance with governance, privacy, and risk management standards.

• Maintain adherence to applicable laws, regulations, policies, procedures, and internal control requirements.

• Stay informed on emerging fraud schemes, industry trends, payment technologies, and regulatory developments impacting prepaid products and fraud risk management.

Basic Qualifications

• Bachelor's degree or equivalent work experience.

• 10+ years of relevant experience in fraud risk management, financial services, payments, banking operations, or related disciplines.

• Previous leadership or people management experience.

Preferred Qualifications

• Deep knowledge of prepaid debit card products, payment systems, fraud prevention strategies, and fraud risk management practices.

• Strong understanding of fraud schemes and operational fraud processes.

• Experience managing fraud loss performance and implementing fraud mitigation strategies.

• Demonstrated ability to lead, coach, and develop high-performing teams.

• Knowledge of banking operations and applicable federal and state laws and regulations.

• Experience partnering with payment networks, issuing banks, regulators, and cross-functional business teams.

• Strong analytical, critical thinking, problem-solving, and decision-making skills.

• Experience with data analytics tools and programming languages such as SQL, SAS, Python, or R.

• Experience supporting AI- and machine learning-enabled fraud initiatives preferred.

• Exceptional written, verbal, presentation, and interpersonal communication skills.

• Ability to translate complex analytical findings into clear, executive-ready business recommendations.

• Strong organizational, project management, and stakeholder management skills.

• Ability to prioritize multiple initiatives, work effectively in a fast-paced environment, and navigate ambiguity.

• Demonstrated commitment to continuous learning, innovation, and process improvement.

LOCATION EXPECTATIONS: This role requires working from a U.S. Bank Location three (3) or more days per week.

NOTE: This position is not eligible for current or future visa sponsorship.

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Benefits:

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following:

• Healthcare (medical, dental, vision)

• Basic term and optional term life insurance

• Short-term and long-term disability

• Pregnancy disability and parental leave

• 401(k) and employer-funded retirement plan

• Paid vacation (from two to five weeks depending on salary grade and tenure)

• Up to 11 paid holiday opportunities

• Adoption assistance

• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

Review our full benefits available by employment status here.

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $133,365.00 - $156,900.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Posting may be closed earlier due to high volume of applicants.