Fraud Analyst

Position Reports to: VP, Director of Risk & Project Management

Objective: The Fraud Specialist is responsible for identifying, investigating, and preventing fraudulent activities within the bank. This role involves monitoring transactions, analyzing suspicious activities, and collaborating with various departments to ensure timely resolution of fraud incidents. The role interacts with all departments in the bank.

Essential Functions & Responsibilities:

• Monitoring Transactions: Continuously monitor account activities and transactions to identify any suspicious or unauthorized activities. Completes monthly review of employee and director accounts. Complete HR background checks.
• Investigating Fraud: Investigate potential fraud cases, reviewing documentation, and interviewing involved parties.
• Implementing Fraud Prevention Strategies: Develop and implement strategies to prevent and detect fraud, including training employees on fraud awareness.
• Collaborating with Internal & External Resources: Collaborate with various departments, to ensure the timely resolution of fraud incidents. Work with law enforcement and other financial institutions to share information and strategies for fraud prevention. Work with IT Security Officer to support IT/Cybersecurity Fraud and data breaches.
• Reporting and Documentation: Utilize Verafin system to complete fraud case. Prepare packets to assist Deposit Operations with return items. Prepare detailed reports on fraud incidents to the bank’s A/RM Committee, outlining findings and recommendations for future prevention measures. Provide supporting documentation to the BSA department as needed to comply with laws and regulations including the AML/CFT Act.
• Client Support: Provide support to clients affected by fraud, advising them on steps to secure their accounts and personal information. Provide education to clients on fraud prevention.
• Risk Management: Assist in the development and implementation of internal fraud policies and procedures to mitigate risk associated with potential fraud and abuse cases. Stay informed about current fraud trends and practices.

Other Responsibilities

• Assists in other special projects as assigned.
• Complies with all department and company policies, procedures and regulations.
• Maintains the highest level of confidentiality with all information obtained.

QUALIFICATIONS

Education and/or Experience:

• Two- or Four-year college degree in finance, accounting, criminal justice or equivalent experience.
• 3 years related banking experience and/or training; or equivalent combination of education and experience preferred.
• Knowledge of current fraud trends and practices.
• Previous experience in fraud prevention or detection or regulatory compliance related to fraud is preferred.
• Previous experience with Verafin is a plus.

Knowledge, Skills & Abilities:

• Analytical - Strong analytical and investigative skills.
• Communication - Excellent communication skills, both written and verbal.
• Decision Making/Problem Solving - Ability to make good quality decisions in a timely and decisive manner and systematically evaluate alternatives. Professional curiosity and strong attention to detail – not taking information at face value and a desire to understand the root of a transaction.
• Self-Management – Strong time management, work prioritization, and organizational skills; detailed oriented; ability to clearly define objectives, set personal goals, and monitor progress; displays self-motivation; actively seeks feedback and adapts behavior.
• Confidentiality - Ability to maintain confidentiality of all bank records and customer transactions.
• Time Management - Ability to prioritize tasks and meet required deadlines. Ability to work independently and as part of a team.
• Software – Intermediate working knowledge of Microsoft products. Ability to dive into software to research and analyze patterns.

Physical Demands:

While performing the duties of this job, the employee is regularly required to sit, use hands to finger, handle, or feel objects, tools, or controls; reach with hands and arms; and talk or hear. The employee is occasionally required to stand and walk. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision, and depth perception.

Work Environment:

The working environment is typical for an office and does not require exposure to difficult or hazardous conditions.

This Position Description reflects management’s assignment of major responsibilities, which represent the most essential functions. It is not to be construed as an exhaustive statement of duties, responsibilities, or requirements. They may be subject to change at any time due to reasonable accommodation or other reasons.

EEO/AA

Member FDIC