Fraud Analyst

Description

Primary Summary:

Provide support to the Compliance Manager in order to ensure compliance of Credit Union policies and procedures with all related laws and regulations applicable to the Credit Union. Conduct thorough analyses of transactional activity for the detection of fraudulent activity on members’ accounts. Aid the operational stakeholders in the detection and prevention of fraudulent activity. Communicate with members regarding potential fraud and steps they may wish to take to remedy. Effectively collaborate with all Credit Union departments. This position is also a back-up to other compliance positions, in the department.

Essential Functions/Position Responsibilities:

• Identify patterns and make analytical recommendations to leadership
• Make recommendations to management to restrict or close accounts based on investigations
• Assist in the development and implementation policies procedures and to detect and prevent fraudulent activity
• Investigate assigned work queues to determine risk potential based on established fraud trends and internal procedures
• Review suspicious online accounts and documentation submitted for new accounts and loans for potential fraud
• Work closely with branches and other departments to identify data-driven fraud and security solutions across the entire Credit Union, including member deposits, ACH/wire, bill pay, online banking, mobile, claims etc.
• Educates credit union employees to identify and respond to potential fraud trends and situations
• Work as a liaison with law enforcement agencies in conducting fraud investigations to file police reports on half of the Credit Union
• Participate in monthly Security & Loss Prevention Association meetings and be an “active” participant in the sharing security and fraud alerts.
• Perform daily reviews of transaction activities for “high risk” accounts including new accounts
• Conduct investigations of fraud cases
• Creates a report and distributes monthly to the Compliance Manager and the Security Officer (internal) that illustrates activities and findings from investigations
• Perform in-depth account investigation and analysis and effectively analyze, compile, organize and interpret data from multiple investigation sources
• In-depth knowledge of and ability to utilize Verafin. Performs CDD, KYM, and EDD reviews as needed
• Reviews daily and weekly BSA/AML alerts and disposition thereof
• Performs high risk, medium risk, NGO, and MSB reviews, as needed
• Knowledge of TrueVision Navigator software
• Responsible for reviewing BSA, AML, OFAC, Fraud, and ID theft news releases daily

Requirements

Position Requirements:

Experience

At least 5 years of experience in the financial industry required; a viable combination of experience and education will be considered

Education/Certifications/Licenses

Associates degree or higher in business, criminal justice, or a related field required

Interpersonal Skills

Ability to work effectively with others at all levels across the organization and skills in effective professional oral and written communication

Other Skills

The ability to obtain Credit Union-specific compliance certification

Working knowledge of Federal and State laws and regulations related to consumer banking

Excellent attention to detail

Ability to perform mathematical functions and computations

Skills in analyzing, interpreting and preparing statistical data

Proficient in Microsoft Office, general computer programs and general office equipment

Advanced research and problem-solving skills

Ability to work under minimal supervision

Ability to receive and maintain confidential information

Competencies:

Member / Stakeholder Focus: Builds and maintains effective relationships with credit staff, lenders and members. Identifies member/stakeholder’s needs and expectations of members. Listens carefully in order to see issue from their point of view. Offers practical solutions or recommendations focused on achieving the member/stakeholder’s expectations.

Adaptability: Learns and adapts quickly in new situations. Possesses a flexible style, the ability to change and adapt to fit circumstances. Adjusts with ease, resulting in successful performance.

Personal Accountability: Accepts responsibility for own actions, including failure. Embraces experiences as learning opportunities and does not blame others.

Collaboration: Values others and different perspectives. Actively seeks and enlists participation of other departments, functional areas and individuals in order to achieve goals. Promotes the common good, extends self beyond personal self-interest; engages in appreciative inquiry and a spirit of caring, not finger-pointing or blaming.

Effective Communication: Puts others at ease by listening. Allows adequate time for interactions, gives undivided attention to speaker, demonstrates non-verbal cues that show interest, keeps an open mind and concentrates on the speaker’s message. Responds with information or questions, as appropriate. Remains calm, focused and polite, even during stressful conversations.

Professionalism: Consistently conducts self in a manner that is business appropriate. Manner of speech, attire and interaction with others conveys competency, confidence, credibility, respect and efficiency to others. Is polite, courteous, tactful, responsible, and well-groomed. Establishes and maintains professional boundaries in all work related relationships.

Problem Solving: Gathers and analyzes information, identifies goals, explores and selects solutions, implements an action plan and evaluates results to ensure identified goals have been achieved.

Process & Time Management: Uses the necessary or established steps to ensure successful execution of tasks. Allocates time efficiently to the most important task. Completes work in a timely manner and looks for opportunities to improve existing processes, procedures and systems.

Physical Demands:

Ability to sit and/or stand for long periods of time; reach with hands and arms.

Sustains repetitive motions while using computer keyboard. Close vision for the computer screen is also required.

Bends, stoops, kneels, pushes and pulls while filing or moving supplies.

Occasionally lift and/or move up to 30 lbs.

NOTE: This job description has been designed to indicate the general nature and level of work performed by staff members within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of staff assigned to this position.

Salary : $25 - $36