FedNow Data Specialist, Fraud Prevention

Company

Federal Reserve Bank of Boston

Federal Reserve Financial Services (FRFS) delivers a suite of payments services to financial institutions via FedLine® Solutions, FedNowSM, Fedwire®, National Settlement Service (NSS), FedCash®, FedACH® (Automated Clearing House), and Check Services.

We are currently leading a strategic effort to transform FRFS to a national, enterprise-focused organization.

Through our evolved structure, we will meet the needs of the marketplace for new products and services more quickly, seek to provide a more robust and unified customer experience across our financial service offerings, and create new career growth opportunities for FRFS staff.

We are seeking leaders to set the vision, strategy, values, and priorities that enable FRFS to achieve its mission.

Our leaders must demonstrate a strategic, action-oriented mindset focused on intellectual curiosity, agility, accountability, and the ability to drive innovation through experimentation.

To achieve our vision for a people-focused organization with a strong collaborative and innovative culture, we expect our leaders to champion an inclusive environment and demonstrate our values in how we work and interact with each other and our broader community.

The Federal Reserve has developed a new interbank 24x7x365 real-time gross settlement (RTGS) service with integrated clearing functionality, called the FedNow Service.

This service enables financial institutions to provide their customers with the ability to send and receive payments any time, any day, and have full access to those funds within seconds.

This position is a unique opportunity to be part of this mission-critical Federal Reserve initiative that is transforming the payments landscape in the United States.

The position will be primarily on-site with residency commutable to one of our offices required.

The FedNow product team is seeking a highly skilled Fraud Data Analyst to enhance our fraud prevention strategies through advanced analytics, fraud detection tools, and data-driven insights.

The ideal candidate will have strong experience in fraud analytics, statistical analysis techniques, and fraud detection models, along with a passion for mitigating fraud across the financial sector.  

 

Key Responsibilities: 


* Analyze transactional and behavioral data to detect, monitor, and prevent fraud 



* Recommend, test, and implement new fraud rules to strengthen our organization’s fraud detection frameworks 



* Work with fraud analytics and modeling tools to develop, validate, promote, and monitor fraud models. 



* Use fraud detection tools to enable end-to-end workflows, including data ingestion, transformation, modeling, and performance monitoring.  



* Apply data generation and transformation techniques to ensure the integrity and quality of datasets used for fraud detection. 



* Perform statistical analysis and build predictive models to uncover hidden patterns...