Fraud Specialist

Description

The Fraud Specialist is responsible for detecting, investigating, and mitigating fraudulent activity affecting member accounts and credit union operations. This position monitors account activity, conducts fraud investigations, collaborates with internal departments and external partners, and recommends actions to minimize risk and financial losses while ensuring a positive member experience.

Requirements

The following duties are normal for this position. These are not to be construed as exclusive or all-inclusive. Other duties may be required and assigned.

• Perform the daily tasks of reviewing, investigating, and resolving daily alerts for check fraud, duplicate check numbers, large dollar deposits to new accounts, new accounts, ATM/ITM deposits, mobile deposits, government benefit fraud, and all alerts generated for transactions based on predetermined fraud thresholds.
• Performs daily review, monitoring, and analysis of various reports, logs, and transaction data to identify trends, unusual activity, and monitor large currency activity; determines if transactions are suspicious in nature, such as kiting, significant changes in balances, cash structuring in deposits, loans payments, and certificate of deposit purchases, wire or ACH transfers, monetary instrument sales, new account openings, etc.
• Works closely with the Bank Secrecy Officer to ensure fraud is reported in compliance with the Bank Secrecy Act. Escalate alerts to the Bank Secrecy Officer as deemed appropriate for further review and/or possible reporting.
• Works with branches to assist with  claims. Ensures proper reporting is completed per the Credit Union’s /Red Flags Program.
• Coordinates with internal teams to ensure the efficient flow of information and support fraud prevention efforts on member accounts.
• Responsible for reviewing, researching, and processing legal orders, providing accurate and timely responses in compliance with the orders' instructions, Credit Union policies, and regulatory requirements.
• Perform OFAC scans and review for possible matches to the credit union database. Responsible for reporting alerts, OFAC, cases, and other items required monthly and quarterly.
• Prepares and delivers monthly, quarterly, and ad hoc data reports. Assist with data entry relating to the Compliance Management Systems, including but not limited to complaints and vendors.
• Coordinating and assisting in the administration of independent, state, and federal regulator and auditor examinations and reviews. Make recommendations to the AVP Risk Management when and where appropriate.
• Promote a positive, professional image of Union Square and support Risk Management initiatives through effective collaboration and member service.
• Responsible for knowing and adhering to USCU policies and procedures as outlined in the employee handbook and training manuals. Comply with all state and federal regulations related to this job and the Credit Union. Secure and safeguard at all times the confidential information of members, employees, and the Credit Union pertaining to accounts, security, and personal information.
• Comply with all BSA/AML/OFAC policies and procedures.
• Perform other duties as assigned by the supervisor, management, or Human Resources.

Three (3) years of experience in a financial institution, preferably in deposit operations, financial services, lending operations, or fraud prevention. Demonstrated ability to analyze account activity, identify discrepancies, and investigate exceptions. Strong understanding of financial institution products, payment systems, and member account services. Excellent analytical, organizational, communication, and problem-solving…