Fraud Specialist

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Full Time 5 Admin Support Lakewood, CA, US

2 days ago Requisition

Salary Range: $20.50 To $30.50 Hourly

The Fraud Specialist 1 is within the Second Line of Defense (2

LOD) and supports the Bank’s Enterprise Risk Management Framework. The Fraud Specialist 1 reports directly to the Enterprise Fraud Manager and Fraud Risk Team Lead. This position is responsible with performing fraud monitoring related to the analysis of the daily internal Checks, Deposits, ACH transactions, Q2 Sentinel, Debit Card Regulation E claims and Zelle Claims. Ensuring that all suspicious activity is reviewed in a timely manner using sound fraud analytical skills and problem solving to mitigate any potential risks.

Review and identify any unusual or suspicious activity to determine any potential losses. Verify the transactions with the branches and customers. Responsible for ensuring that pre-established department standards are achieved and maintained.

The Fraud Specialist 1 is expected to demonstrate good customer service skills, sound fraud analytical skills, problem solving, effective communication skills, consistently displaying confidence, and keeping appraised of recent fraud trends.

• Verify all potential Checks, Deposit, and ACH fraud as identified in the Bank’s Fraud Detection Systems.
• Adhere to established policies/procedures to perform review and analysis to mitigate losses.
• Notify Branch Operations on any questionable items to obtain approval.
• Track and retain exception item resolutions.
• Follow Operational procedures for timely returns.
• Track and retain return data for further reference and reporting.
• Verify and resolve potential Insider Account fraud suspect items (e.g., employees, shareholders, etc.) through the Bank’s Fraud Detection System.

• Verify all potential ACH and External Transfer fraud as identified in the Bank’s Fraud Detection System.
• Notify Branch Operations on any questionable items to obtain approval.
• Track and retain exception item resolutions.
• Track and retain cancellations for further reference and reporting

• Open Fraud Claims as soon as the fraud is confirmed.
• Review all Fraud/Dispute activity reported for possible chargeback rights and recovery.
• Responsible for working fraud/dispute claims in a timely manner to ensure compliance with Regulation
  
  E.
• Maintain proper follow up on any investigative leads on any Fraud case.
• Maintain a Regulation E Tracking Log of all Fraud/Dispute claims.
• Responsible for providing provisional/final credit on the fraud/dispute claims reported to the Bank’s Debit Card Processing Vendor in a timely manner to ensure compliance with Regulation
  
  E.
• Maintain all Fraud Logs up to date for management and accounting purposes.
• Maintain the General Ledger accounts for the Enterprise Fraud Department and clear all items according to the Bank policy (90 days or before).
• Work all fraud/dispute Pin Debit claim through STAR.
• Maintain proper follow up on Pin Debit fraud/dispute claim. This includes the chargeback process cycle, and photo request.
• Meets the following Service Level Agreements:
  • Accurately Process Critical Duties => 95%
  • Potential Fraud Exceptions Timely Submission = > 95%

Complies with all applicable state and federal banking laws, regulations, and internal policies related but not limited to lending, operations, and deposit requirements, including Bank Secrecy Act (BSA), Anti-Money Laundering (AML) requirements, Office of Foreign Assets Control (OFAC) regulations, Customer…