What are the responsibilities and job description for the Fraud Analyst position at Amalgamated Bank of NY?
An exciting position is now available at America's Socially Responsible Bank! The Fraud Analyst will detect, investigate, and prevent fraudulent activities, protecting the Bank, its customers, and its assets from financial losses and reputational damage by assisting the Loss Prevention Manager / Bank Security Officer in the development, administration and implementation of a comprehensive Fraud Program.
By joining our team, you’ll be joining a Bank that believes that maintaining a diverse and inclusive workplace where everyone feels valued and respected is essential for us to grow as a company. We are dedicated to building a more equitable world in our everyday practices by embracing the values of our employees and customers.
Essential Job Functions:
- Triage and actively investigate all incidents of potential fraud referred to the Fraud group.
- Participate in the development of fraud rules, internal controls and intelligence (i.e. fraud analytics) to effectively detect and deter fraud and continuously evaluate and alter these practices as necessary to mitigate fraud throughout the Bank.
- Utilize operative internal communication channels for reporting fraud and misconduct.
- Maintain and utilize an enterprise fraud case management system to centralize, analyze and track potential fraud incidents.
- Assist in the development of an employee fraud risk awareness program and conduct fraud prevention and detection training as well as robbery training.
- File suspicious activity reports (SARs) for suspected fraud incidents.
- Review fraud alerts for suspected transactional activity.
- Research suspected activity by using the Bank’s various applications and third-party software. Analyze data and decide whether activity is normal or suspicious.
- Collaborate with other departments, law enforcement, and external agencies as well as other financial institutions to gather information and pursue investigations.
- Interview customers and employees regarding suspected fraudulent activity.
- Keep abreast of changes in the laws and regulations by attending various training sessions, including seminars and webinars.
- Respond to critical incidents in branch and office locations, as necessary.
- Perform other duties as directed.
Knowledge, Skills and Experience Requirements:
- Bachelor’s degree or equivalent experience
- Three to four years of experience in compliance, bank operations and/or risk management supporting knowledge of financial crimes and fraud prevention techniques
- Professional, resourceful and creative approach to crucial elements of fraud risk management
- Ability to deliver effective presentations and training sessions
- Strong analytical, investigative, and communication skills and attention to detail and accuracy
- Sound decision making skills. Must have a keen interest in stopping fraud whilst considering the impact of how an investigation can impact customers
Our job titles may span more than one career level. The starting base salary for this role is between $90,00.00 – $95,000.00. The actual base pay is dependent upon many factors, such as: training, transferrable skills, work experience, business needs and market demands. The base pay range is subject to change and may be modified in the future.
Amalgamated Bank is an Equal Opportunity and Affirmative Action Employer, Minorities / Females / Individuals with Disability / Veterans. AmeriCorps, Peace Corps and other national service alumni are encouraged to apply. View our Pay Transparency Statement. Submission of a resume or any information regarding your qualifications does not constitute a promise or offer of employment. At Amalgamated Bank, we consider an applicant to be someone who has interviewed at least once, in person, with the hiring manager. Amalgamated Bank does not sponsor applicants for work visas.
Effective February 18, 2025, employees in office-based positions will be working a Hybrid work schedule consisting of three days or more, on-site per week, Monday - Thursday, although the specific days may vary by site or organization, with Friday designated as a remote-working day, unless business critical tasks require an on-site presence. This Hybrid work model does not apply to, and daily in-person attendance is required for, the contact center, branch service roles, and general services where the work to be performed is located at a Company site; positions covered by a collective-bargaining agreement (unless the agreement provides for hybrid work); or any other position for which the Company has determined the job requirements cannot be reasonably met working remotely. Please note, this Hybrid work model guidance does not apply to roles that have been designated as “remote”.
Amalgamated Bank does not accept unsolicited assistance from search firms for employment opportunities. All CVs / resumes submitted by search firms to any employee at our company without a valid written search agreement in place for the position will be deemed the sole property of our company. No fee will be paid in the event a candidate is hired by our company as a result of an agency referral where no pre-existing agreement is in place. Where agency agreements are in place, introductions are position specific. Please, no phone calls or emails.
