Closeout Specialist-Card Fraud

Responsible for managing debit and credit card fraud and dispute close out from respective processors. Be knowledgeable in credit and debit card dispute processing, keeping abreast of rules and regulations and working with members and processors to resolve dispute related issues.   Responsible for verifying adjustment, communications, and resolution of fraud and dispute claims. In a backup capacity, learn the fraud and dispute process, adjusting cardholder accounts and communicating with members on their claims of fraud or dispute.

Essential Functions 

1. Review daily closeout reports from debit and credit card processors.
   1. Review disposition of closeout or representment documentation.
      1. Receive and review chargeback documentation provided by merchant
         1. Using designated communication method, notify member of next steps, either requesting additional information or explanation of closeout.
      2. Receive additional information from member and provide documentation to processor within designated time frames when applicable.
   2. General ledger posting
      1. Enter information on spreadsheet for CU loss or adjust member account based on closeout resolution
   3. Work directly with processor on any errors that are discovered in the processing of any claim of fraud or dispute for appropriate liability/reimbursement.
2. Balance required dispute GL’s and work with accounting and processor on any discrepancies
   1. Complete month end reconciliation
3. In a backup capacity, review, investigate, and process debit and credit card claim of fraud and disputes reported by members through in person or online channels.
   1. Investigate claims using tools and applications accessible to determine dispute options and cardholder liability.
   2. Investigation will include communication with member either verbally or written.
   3. Investigate claims based on established processes, procedures, and Visa/State/ and Federal regulations.
   4. Process member adjustments within required timeframes.
4. Maintain thorough knowledge of Visa rules and regulations, state and federal regulations, and Regulation E,to process all phases from initial claim to arbitration or closeout within specified regulatory timeframes.
5. Complete CUMIS bond claim filing for all card related losses that are not automatically processed by our card processor.
6. Review dispute related reports to ensure timely processing by vendors. Work directly with vendor on issues and report any delays to Manager of Card Services.
7. Ability to communicate effectively with individuals involved with actual or potentially fraudulent activity.
8. Understand and is accountable for executing all job functions in a way that is consistent with the requirements of BSA, OFAC, and USA Patriot Act/Customer Identification Act (CIP). Note: Failure to comply with requirements may be subject to strong disciplinary action, up to and including termination by the credit union, as well as civil and criminal penalties.

Note: Failure to comply with requirements may be subject to strong disciplinary action, up to and including termination by the credit union,as well as, civil and criminal penalties.

Additional Functions 

1. Provide back-up support for various Operations Support department functions performed within the card and fraud area.

Job Specifications 

1. Minimum of 1 year experience in fraud and dispute processing or 2 years of equivalent experience in banking or other financial services, required.
2. Completion of an associate degree or equivalent work experience in a related field, required.
3. Professional well-developed writing and interpersonal skills essential for interacting with credit union staff, members, and outside business partners.
4. Ability to work independently, react quickly, and solve problems, utilizing the available resources.
5. Self-disciplined, detail oriented, and can effectively manage time and prioritize multiple tasks
6. Experience having difficult/sensitive conversations with members and internal employees; ability to exhibit empathy and professionalism under stressful circumstances.
7. Working knowledge of Visa’s core rules and regulations preferred
8. Requires judgment to solve day-to-day problems but usually within established guidelines using a member service approach.
9. Ability to analyze situations, problem solve and use good judgement to perform day to day responsibilities. Must possess strong decision-making skills
10. Accounting/general ledger experience required
11. Work also requires the ability to operate a variety of office software including, MS Outlook, MS Word, and intermediate knowledge of MS Excel

Physical Demands of Position 

While performing the duties of this job, the employee is continuously required to sit, use hands and fingers.  The employee occasionally must reach above and below shoulder level, and lift/push/pull and /or carry up to 20 pounds. .

Environmental/Working Conditions 

Works in a typical administrative setting with climate control and appropriate lighting. 

Equipment Used 

Telephone, Printer/Copiers/Fax, Calculator, Personal Computer

Disclaimer 

The above information on this description has been designed to indicate the general nature and level of work performed by employees in this classification.  It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job.

Why Summit? 

• Professional Growth: Opportunities for career development and advancement to help you reach your full potential.
• Work-Life Balance: Enjoy flexible work schedules and generous paid time off to maintain a healthy work-life balance.
• Retirement Benefits: Benefit from our 401(k) plan with employer match to secure your future.
• Employee Wellness: Participate in programs and resources designed to support your overall well-being.
• Community Involvement: Engage in initiatives that give back to the community and make a positive impact.

EEO Statement: At Summit Credit Union, we are committed to providing Equal Employment Opportunity regardless of race, color, religion, sex, age, national origin, disability, military and veteran status, sexual orientation, gender identity, marital status or any other characteristic protected by local, state, or federal law.  We embrace diversity and believe that inclusion is critical to our success as a credit union.  Different makes us better.  Employment decisions are made based on qualifications, merit, and business need.