Corporate Fraud Analyst

Job Overview

Risk Management diligently strives to minimize fraud losses and mitigate the impact affected accounts have on the financial stability of the organization. This role will be responsible for monitoring and analyzing customer transaction activity for potential fraud behavior and/or indications of financial crimes. A successful candidate within this position will be expected to review, assess, and respond to instances of potential/actual fraud originating within the organization’s multiple service channels. This individual will be required to actively assess notices of potential events from Citadel’s various detection systems, reports of fraudulent activity received from customers, customer contact areas, and/or external parties (merchants, vendors, law enforcement, etc.). They will also be responsible for maintaining internal databases that enable the team to analyze fraud analytics, develop strategies to mitigate future fraud events, and work with our processor(s) to implement approved “rules” as they relate to Citadel’s platforms. Further, this individual will process merchant chargebacks and prepare month-end charge-off reports relative to fraudulent cardholder transactions. This role will be responsible for spearheading our efforts to mitigate fraud on behalf of the credit union. The successful candidate will have a working knowledge of common fraud schemes as well as possessing excellent problem solving and communication skills, so they can effectively interact with Citadel customers regarding fraud events they experience.

Responsibilities

• Effectively review the credit union’s fraud identification and mitigation procedures, with particular focus on minimizing the impact of fraudulent transactions and loss trends. This includes, but is not limited to monitoring new account activity, ATM transactions, early-warning fraud alerts, daily retail office transaction activity, and responding to escalated customer inquiries. Accordingly, the individual will work with their management team and make recommendations to reduce potential financial loss for our customers and/or organization.
• Review systemic reports generated by various internal/external platforms to identify potential fraud involving consumer-based products. Take actions necessary to develop/implement new fraud mitigation strategies.
• Review transaction activities conducted through the organization’s electronic banking channels (i.e., ACH, RDC, A2A/P2P, etc.) for likely fraud events. Proactively respond by preventing access to or movement of funds deemed suspicious or questionable.
• Review, analyze, and complete processes necessary to effect merchant chargebacks, ADC submissions, consumer denials, and/or charge-off of unrecoverable losses. All processing of said activities must be completed within prescribed/mandated timeframes in accordance with established industry expectations and regulations; Have knowledge of the various rules and regulations impacting plastic card programs, including Regulation E, Regulation Z, and any applicable operating rules and regulations issued by MasterCard and Visa.
• Ensure the organization’s plastic card stock (new and/or destroyed) is effectively controlled, tracked, and destroyed in accordance with sound business practices and departmental procedures.
• Collaborate with representatives from the organization’s card processors (PSCU & FDR) to implement fraud mitigation strategies for our plastic card programs and track the success of such strategies.
• Review fraud activity to identify plastic cards impacted as a result of card compromise and work with internal stakeholders regarding any communication and reissue strategy
• Work closely with law enforcement authorities to assist in the capture of suspects involved in perpetrating fraud against the organization. Develop criminal case files for use by federal, state, and local authorities to successfully prosecute individuals conducting financial crimes against the credit union. Expect to represent Citadel in a professional and confident manner while communicating the results of your investigation during any applicable Court proceeding.
• Effectively present and respond to inquiries from internal and external customers.
• Complete assigned daily/weekly/monthly management reports and ensure all reports and communications are timely and accurate.
• Provide additional support to the Risk department, as apparent or assigned.
  
  

Qualifications And Education Requirements

• 4 years’ experience working within a financial institution’s fraud detection or financial intelligence department preferred.
• Must possess a working knowledge of mechanisms to detect financial institution fraud.
• Must possess knowledge of general banking operations, policies and procedures.
• College degree with a focus on business or criminal justice.
• Relevant industry designations (e.g., Certified Fraud Examiner, Certified Anti-Money Laundering Specialist) preferred.
• Familiarity with fraud detection applications, video surveillance systems, and card access control platforms preferred.
• A strong understanding/knowledge of applicable banking regulations, Citadel’s Electronic Services Agreements & Disclosures, MasterCard Line of Credit Agreements, and operating rules regulations for various electronic banking services (NACHA, Federal Reserve, etc.) preferred.
  
  

Additional Skills/Notes

• This is a hybrid employee with a maximum of 3 days a week in the office.
• Must have excellent communication and problem-solving skills.
• A successful candidate will have strong analytical skills.
• Ability to work independently as well as part of a team.
• Given the sensitive nature of activities, individual must maintain extreme confidentiality regarding all activities.