Fraud Prevention Specialist

The Fraud Prevention Specialist, as part of the 2nd line of defense, is responsible for the completion of the Fraud Monitoring and Investigation process and the related administrative responsibilities within this function. This includes executing the following:

• Ensure all suspected or confirmed fraud cases are properly recorded from all reporting channels (internal systems, customer reports, regulatory notifications, and external alerts).
• Accurately categorize each case based on the level of risk posed to the organization for tracking and prioritization purposes.
• Research, investigate, and resolve fraud alerts and cases in a timely and accurate manner. This includes collecting all relevant information, documentation, and evidence related to each case and coordinating with relevant departments as needed.
• Escalate cases to a subject‑matter expert (SME) or management when appropriate.
• Through root cause analysis, identify if fraud incidents are isolated or systemic, and establish corrective actions with defined target completion dates to ensure proper remediation and prevention.
• For cases involving restitution or customer reimbursement, follow up to ensure timely execution.
• Determine if a case requires escalation for compliance review and/or legal review.
• Ensure internal communications and case documentation are reviewed and approved by the required senior management prior to closure.
• Provide feedback to business units or customer contact areas to prevent recurrence and strengthen fraud controls.
• In conjunction with Compliance and HR, assist in developing and delivering customized fraud awareness and prevention training for personnel. Reinforce training periodically as needed.
• Develop monthly fraud summary and detailed reporting for senior management, the Risk and Compliance Committee, and the Board of Directors at a pre‑established frequency.
• Coordinate with the Compliance department to ensure alignment with applicable regulatory and reporting requirements related to fraud and suspicious activity.
• Ensure that all fraud‑related documentation and evidence are properly maintained and centralized for record keeping and audit purposes.
• Collaborate closely with key departments including:
  Compliance, BSA/AML, Operational Risk Management, Operations, IT, and Finance, as applicable.
• Stay current with applicable regulatory and industry guidance related to fraud, including BSA/AML, Regulation E, UDAAP, and consumer protection standards.
• Manage and complete additional reports as required by management.
• Perform additional tasks as assigned by management.

Requirements:

• 3+ years of relevant work experience dealing with fraud prevention and complaints.
• Moderate to strong knowledge of key regulatory requirements pertaining to Fraud, BSA/AML, and consumer compliance.
• Strong analytical, investigative, and time management skills.
• Effective written communication skills for developing formal correspondence, reports, and process documentation.
• Intermediate or higher‑level Excel and PowerPoint skills to develop reporting, charts, trend analysis, and case summaries for management.
• Strong interdepartmental communication skills—verbal and written—including the ability to manage escalated situations effectively and communicate timely with management.
• Ability to work independently, initiate process improvements, and follow up on corrective actions through completion.
• Bilingual preferred (Spanish).
• College degree required; certifications in Compliance, Fraud Prevention, or Risk Management recommended.

Associate

Full-time

Finance and Legal

Banking and Financial Services