What are the responsibilities and job description for the Fraud Analyst position at WSFS Bank?
Job Description
At WSFS Bank, we empower our Associates to grow their careers, guide our customers to secure their financial futures, and actively support our Communities so they can fully thrive. Careers with WSFS Bank offer an inclusive and supportive culture, competitive salaries, advancement opportunities, and more. We are the region's locally headquartered bank and wealth management company. We are honored to consistently be named a Top Workplace by our Associates, who make a difference every day for the people, businesses, and Communities we serve. We Stand For Service® is more than part of our name, it’s our mission and our purpose.
The Fraud Analyst is responsible for the daily review of specific transactions and alerts to detect and prevent fraud across all channels; ATM, Mobile Remote Deposit, and branch to minimize check fraud losses. Responsible for performing strategic analysis of fraud trends, manages control configuration and provide subject matter expertise on best practices to prevent fraud. The analyst is also responsible for monitoring alerts for in-clearing check activity to detect Counterfeit and Forged Checks. In addition, a review of specific activities is within the scope of responsibilities and include but are not limited to, New Account Review, Balance Change monitoring, and flow of funds.
Job Responsibilities:
- Manage fraud rules and models to optimize effectiveness of Fraud strategies and policies across authorization fraud types.
- Escalate identified risks which may result in unacceptable fraud controls and losses.
- Provide support, including analysis, to various Strategic Fraud initiatives outlined by the business and Fraud management.
- Interact and initiate contact with Bank Associates and customers.
- Interact with customers primarily through incoming calls or mail and provide assistance with their questions and/or concerns.
- Support and assist the department with compiling various report information, customer relations and/or other business relationships.
- Receive and respond to incoming internal calls regarding Holds, Account Restrictions, and general inquiries.
- Responsible for support of the CCTV systems in service throughout the company. This involves working with the vendor to resolve production issues and saving video for fraud investigations or when required by law.
- Review daily reports, reject activity and fraud attempts to identify potentially fraudulent activity.
- Gather and document information in response to subpoenas received by the Bank.
- Perform daily reviews of Verafin fraud alerts to detect illicit activity.
- Thoroughly research fraud incidents and clearly document findings in Verafin, escalating to appropriate management when necessary.
- Make recommendations to management based on investigation findings and restrict or limit account activity when needed.
- Participate in the development, implementation, and review of Fraud-related policies and procedures.
Minimum Qualifications:
- Bachelor’s Degree or equivalent related experience with at least 2 years banking experience preferred.
- Ability to interface effectively with other departments and operate in a fast-paced environment with minimum supervision.
- Must have excellent written and verbal communication skills.
- Must have strong organizational, analytical and communication skills.
- Must have strong interpersonal skills necessary to work effectively with colleagues across regions and business units.
- Must have the ability to provide “Stellar Service” to internal and external customers.
- Must be an effective change agent with highly developed problem-resolution skills.
- Must have the ability to foster collaborative work partnerships and influence people at all organizational levels.
- Must be an independent thinker with sound decision making in the interpretation of bank regulations and policies.
- Must have the ability to make decisions and implement change quickly.
- Must have the ability to understand and use various fraud detection systems and tools including but not limited to; Verafin, internal fraud systems and reports.
WSFS Bank is inclusive and supportive of individual needs. If you have a physical or other impairment that might require an accommodation, including technical assistance with the WSFS Bank Careers website or submission process, please contact us via email at careers@wsfsbank.com.
WSFS is an equal opportunity employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.
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