Justin Davis

Fraud Consultant at Point Predictive

Boston, MA

1

Office Hours

How does this work?
About

I am an expert in fraud strategy implementation and execution. I graduated Cum Laude from Franklin University with a degree in Forensic Accounting. My experience is focused in the banking industry, and in only a short six years I have been able to save my employers more than $50MM in fraud losses. This has been primarily done through root cause analysis, being able to quickly identify solutions, communicate these solutions effectively, and collaborate with other business units to successfully implement and address the problem. Below are a list of my key accomplishments: - Saved over $13MM in 2016 through enhanced authorization strategies and rule writing - $25MM in potential identity theft fraud prevented by developing reports derived from application root cause analysis - 50% reduction in fraud losses YoY in 2016 - 90% reduction in annualized fraud losses in 2018 Over the last year I have also grown to be considered an industry expert in the field of Synthetic Identity fraud. The ways to identify potential synthetics, determine current gaps in the fraud program, and create action plans to mitigate these losses. I have been asked to speak on multiple occasions to help educate my fellow fraud professionals. These speaking engagements include: - Synthetic Identity webinar hosted by the Boston Federal Reserve - Verafin's 2019 Boston Tour - 2019 Boston Fintech Week - Leveraging AI to Enhance Customer Experience When I'm not working you can usually find me at my church where I help lead our Youth & Young Adults Ministry, the508. This includes being responsible for over 300 young adults ages 18-29. I assist strategically in the planning of long term strategy, vision, and execution. My specialties include: fraud strategy, root cause analysis, project execution, forensic accounting, big data analytics with emphasis in SQL & SAS, fraud investigations, and strategic leadership

Ask me about
Sentilink
Fraud Protection Software
Fraud Detection Software
Experian
Equifax
FiVerity
Socure
Work experience

Jan 2021 - Present

Point Predictive

Fraud Consultant

logo

Jan 2019 - Dec 2020

Digital Federal Credit Union

Fraud and BSA Manager

Responsible for strategic planning and execution of the credit union's fraud and BSA program. This includes detection, prevention and investigation of issues like identity theft, check fraud, account takeover, electronic fraud, and all forms of money laundering. Lead a team of 23 employees comprised of Analysts, Investigators, Team Leaders, and DCU's BSA Officer Conduct root cause analysis on emerging fraud trends to quickly identify issues, develop solutions, and react to mitigate losses to the credit union. Industry Expert regarding synthetic identity fraud detection and prevention. Have had the opportunity to speak on multiple occasions to help educate other fraud professionals - Boston Federal Reserve Webinar - 2019 Verafin Tour - 2019 Boston Fintech Week

logo

Jan 2018 - Jan 2019

Digital Federal Credit Union

Fraud Manager

Developed and managed the newly created Fraud Department at DCU. Quickly demonstrated the need for staffing by created new leadership roles and growing the team from 8 to 12 which increased efficiency, decreased losses, and enhanced our overall membership experience. Reviewed and adapted existing policies and as well as created new procedural documentation to make sure there was consistency in the department and to ensure compliance with applicable laws (FCRA, RegCC, RegE, RegZ, etc...) Successfully reduced fraud losses by 92% in the first year. Accomplished this through multiple different initiatives and successful projects driven from root cause analysis and quickly identifying emerging trends. Introduced account aggregation and instant account verification into DCU's ACH platform to reduce fraud losses to the credit union as well as to stay compliant with NACHA. Saw an almost 100% loss reduction in the ACH channel after successful implementation. Identified similar device patterns that were being used for account takeover on multiple different memberships. Partnered with the DCU development team to create a blacklist functionality that allowed us to push out bad actors and to also be quickly alerted to potential future account takeover and act before it could occur. Noticed a lack of controls within the native mobile application regarding log-in and authentication which made account takeover much easier for fraudsters. Introduced OTP functionality into Mobile that reduced channel specific losses by over 80%

logo

Aug 2016 - Jan 2018

Alliance Data

Fraud Strategy Analyst

Focused on fraud strategies pertaining to our MasterCard and VISA branded credit cards and implementing tactical changes. Develop and interpret reporting as well as doing root cause and trend analysis to quickly target emerging fraud trends and mitigate losses to the bank. Entrusted with the implementation and launching of new capabilities while also partnering with Operation leadership to ensure seamless deployment. Most recently was key participant in launching of the FICO Falcon 6.4 fraud authorization monitoring system in which I was tasked with optimizing system features to improve on quality of alerts generated, while also maintaining same or better mitigation rates. - Subject Matter Expert for all strategies related to Cobrand fraud at Alliance Data. This means that I work with all aspects of the business on a day to day basis and have been identified as a key resource by business partners for my in-depth knowledge and willingness to always help others. - Identified a major opportunity that had an annualized risk exposure of $10MM and quickly developed an in-depth analysis on the event and determined a solution. Immediately contacted the key players involved in implementing the solution, and through quick collaboration we were able to close the gap and reduced the risk by over 90% - Complete trend analysis on real-time fraud and quickly create and write rules for the Falcon 6.4 system - With the complex transaction flow of the Falcon 6.4 product I am focused on ensuring our strategies are organized according to risk level, dollar impact, and rule effectiveness in order to keep losses at a minimum. This also includes anticipating and adapting to future fraud trends based on new technologies available to both our organization as well as to fraudsters. - Create reporting a effectively communicate fraud trends, solutions, and impacts to all levels with the Alliance Data organization

logo

Jan 2016 - Aug 2016

Alliance Data

Cobrand Fraud Specialist

Assisted with Cobrand strategies including alert report development, small trend analysis, as well as Falcon rule writing to capture possible fraudulent authorizations at the Point of Sale. Worked in a myriad of different systems, with no prior knowledge, and quickly succeeded all anticipated goals. - Saved an incremental $13MM through creative Falcon strategies as well as decreased average losses per claim by over 50% year over year - With an increasing risk of false application and synthetic identities, I developed a report to capture suspicious accounts based upon identity and velocity. In the first four months the report was operational it had an incremental benefit of $12MM -Agreed to transition to Cobrand strategy and rule writing with no prior knowledge. I quickly adapted and enhanced existing strategies while implementing new ideas, and after only two months was able to reverse the growing trend in losses that started a year prior. Through these new and improved strategies, I had captured more fraud in my first five months than the entire prior year. - Recreated all legacy strategies to enhance our queuing environment which optimized the efficiency of working alerts, as well as introduced new kinds of aggressive rules to capture fraud that was previously unattainable. - Led weekly meetings with business partners to address growing concerns with increasing fraud on a new client. Delivered key analytics on fraud trends and system gaps which encouraged the business to make changes that lowered loss rates by over 100 basis points. - Tasked with lowering monthly average losses by 10% a month in 2016. Introduced new, aggressive strategies back by accurate data analysis which was able to get deeper penetration and decreased losses to an all-time low. - Mentored incoming associates to help educate them on fraud trends, red flags, social engineering, and anything else that would assist them in their current positions

logo

Mar 2015 - Jan 2016

Alliance Data

Private Label Fraud Specialist

Leveraged tools such as SQL, Microsoft Office, and third-party device fingerprinting software in order to identify potential fraud risks to Alliance Data. Extracted and analyzed the associated data in order to better understand the inherent problem and to help create a solution to mitigate risk as well as potential loss. Developed story-board reporting on a client by client basis to present risk to upper management. - Coordinated meetings leading up to peak season to determine action plans and to help mitigate fraud risk - Communicated with external business partners where I offered recommendations on how to mitigate fraud based upon trends I was tracking - Worked directly with our Modeling team to help build a fraud scoring model for applications. This ended up being our first working internal fraud model that is now being used across a multitude of clients. - Tasked with understanding the dramatic increase in fraud on a specific client. Identified three employees at one store that were able to fraudulently open credit cards to the tune of $400k. Most of the activity was from one employee, and through further investigation was able to find social media accounts where I found the stolen merchandise that he was selling. Communicated this to the client where he, and the accomplices were promptly fired. - Completed an analysis of address changes on new accounts. Through this I created a new alert report that had a $2MM incremental benefit in its first year of production - Developed a new way to load device evidence into Iovation that decreased average work time from four hours to only 15 minutes for associates in Operations. - Took the initiative to rebuild our email report due to a growing concern on volume and false positives. Created a velocity based report to look at common emails used on both applications and existing accounts that cut previous false positives in half as well as increased average monthly savings by almost 100%

logo

Jul 2014 - Mar 2015

Alliance Data

Chargeback Specialist

I work directly with our clients to make sure procedures are being followed, and to help mitigate their fraud losses

logo

Jan 2014 - Jul 2014

Alliance Data

Fraud Investigator

Investigate credit card fraud. Partner with law enforcement to try and catch people committing identity theft

logo

Oct 2013 - Jan 2014

Alliance Data

Fraud Detection Representative

I assisted victims who had had their identities stolen. I looked for trends, and tried to find any evidence that could help in our investigation.

logo

May 2013 - Oct 2013

Target

FSTL

I was the manager of the cafe and Starbucks. I had to keep track of inventory, manage employees on both sides as well as coach and train team members throughout the store. When I took over the department our scores were the worst in the district. By the time I had left, we were consitently in the top 3 stores

logo

Jun 2012 - May 2013

Target

GSA

I assisted in running the front end team. Made sure that all guests were taken care of, as well as making sure my cashiers had everything they needed to do their job well. Time management and customer service were key

Education

2014 - 2016

Franklin University

Bachelor's Degree, Forensic Accounting

2012 - 2014

Columbus State Community College

Accounting

2009 - 2011

Oral Roberts University

Accounting

Talk to Justin

@ Copyright 2020 OfficeHours Technologies Co.