What are the responsibilities and job description for the Fraud Analyst position at PLATINUM BANK?
Job Description
Job Description
Description :
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
Requirements : QUALIFICATIONS
Education and / or Experience :
Knowledge, Skills & Abilities :
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
