Fraud Investigator

Overview

Reports to:

Fraud Operations Officer

Functions Supervised:
None

Primary Functions:
Carry out detailed investigations concerning potential losses and/or suspected criminal activity. Interview potential victims, suspects, and witnesses involved in financial crimes, often addressing sensitive matters. Accurately prepare and document findings based on rules of judicial evidence, ensuring reports are both factual and impartial. Refer cases to law enforcement for prosecution and restitution. Review cases for accuracy and decide next steps, such as reimbursement, member contact, or government agency follow-up.

Demonstrate prudent judgment in decision-making and maintain the highest standards of confidentiality.

• Monitor alert queues to help prevent fraudulent activity and reduce losses.
• Conduct investigations into fraud claims related to online transactions, pre-authorized drafts, altered checks, forged endorsements, unauthorized third-party transfers, financial exploitation, identity theft, and additional fraudulent activities.
• Investigate discrepancies, gather all relevant information, and implement effective measures to mitigate and, when feasible, prevent losses related to fraud and identity theft.
• Interview potential victims, suspects, and witnesses involved in financial crimes, often addressing sensitive matters.
• Locate video surveillance and review recorded calls to support investigations.
• Accurately prepare and document findings based on rules of judicial evidence, ensuring reports are both factual and impartial. Reports may be used in criminal proceedings or civil litigation.
• Create and maintain complete and accurate case files, including investigative notes and documentation in the case management system.
• Detect, monitor, and analyze fraud patterns and trends.
• Participate in root cause analysis reviews of large loss incidents to help identify process gaps and recommend policy changes.
• Adhere to all regulations and internal policies and procedures in the timely management of complaints, referrals, and reimbursements.
• Report suspicious activity as required by the Bank Secrecy Act.
• Handle high-priority and high-risk cases, such as outgoing wires, recovering funds, consumer complaints, large transactions, and potential Bank Secrecy Act or SDN list violations.
• Work with all law enforcement, protective agencies, and financial institution contacts for fraud related investigations.
• Work in partnership with BSA, Legal, Compliance, Operations, the credit union’s insurer, and other relevant credit union departments.
• Handle incoming and outgoing calls to deliver information about fraud, identity theft, or the Member Identification Program to branches, the Member Service Center, lending departments, and members.
• Ensure compliance with laws, rules, regulations, policies and procedures applicable to assigned departments and related credit union activities.
• Perform other duties as assigned.

Education:

Bachelor's degree in Business Administration, Criminal Justice or related field

Creditable Experience in Lieu of

Education:

3-4 years' experience in the area of financial crimes investigations, law enforcement, or related field.

Experience/

Skills:

Excellent interpersonal skills with the ability to build collaborative relationships with various business units. Strategic and tactical analysis skills. Demonstrates sound discretionary judgment and upholds strict confidentiality. Demonstrates strong proficiency in both oral and written communication. Capacity to work in a fast-paced and dynamic environment with a drive to deliver outstanding results. Thorough familiarity with banking and financial regulations. Experienced in conducting complex investigations related to potential losses and/or suspected criminal activity.

Experience with courtroom testimony and legal protocols. Skilled in interview techniques. Experienced in leveraging fraud prevention and detection technologies and tools. Well-versed in strategies for mitigating and investigating Identity Theft, check, card, ACH, and payment fraud. Certified Fraud Examiner (CFE) or equivalent credentials are preferred.

Assignment to…