What are the responsibilities and job description for the Card Fraud Analyst position at Educational Federal Credit Union?
Job Summary :
The Card Fraud Analyst is responsible for ensuring card-related fraud losses remain within established benchmarks. The Card Fraud Analyst proactively identifies fraud trends and monitors the performance of card fraud rules, and collaborates with the Risk Advisor to develop and refine rules.
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Duties & Responsibilities :
- Responsible for ensuring card-related fraud losses remain within the Board-approved benchmarks. Monitors industry and peer fraud data to ensure benchmarks align with top-quartile peer performance. Suggests changes to benchmarks as applicable.
- Monitors the performance of card fraud rules at least weekly, ensuring that rules effectively prevent fraud while maintaining a low false-positive ratio, with real-time rules performing at 2 : 1 or less, and case creation rules performing at 6 : 1 or less.
- Reviews daily incoming card fraud disputes to identify emerging threats.
- Collaborates with the assigned Risk Advisor to develop and refine rules that do not meet false-positive ratio requirements and / or in immediate response to incoming disputes. Meets monthly with the assigned analyst to discuss the Visa DPS Risk Advisor Monthly Review.
- Analyses recoverable versus non-recoverable fraud transactions to improve recoveries.
- Maintains expertise for all aspects of the Falcon system.
- Develops sophisticated card rules targeted to transactions types that present the highest risk of loss, such as card not present, cross border, force-post, pin-less, test, fallback, and tokenized transactions.
- Periodically analyzes Visa Approval Rate, with particular emphasis on fraud declines as a percentage of the total Decline Rate.
- Reviews monthly card fraud charge-offs to identify opportunities for recoveries.
- Assists with developing an impending a strategy for managing notices received via the Compromise Account Management System.
- Provides feedback to the Vice President, Card Products and Services concerning card fraud trends based on commonalities in disputes.
- Periodically walks through the cardholder experience to ensure notifications and system are intuitive and perform as expected.
- Develops and maintains peer contacts within the industry.
- Performs other duties as assigned by management.
Requirements :
Associates degree or equivalent combination plus 2-5 years of relevant experience in the financial industry
Every employee is required to comply with all Bank Secrecy Act (BSA) policies and procedures, and to attend required BSA-related training as assigned.
The following are some benefits offered to employees :
