Fraud Analyst

Description

Primary

Summary:

Provide support to the Compliance Manager in order to ensure compliance of Credit Union policies and procedures with all related laws and regulations applicable to the Credit Union. Conduct thorough analyses of transactional activity for the detection of fraudulent activity on members’ accounts. Aid the operational stakeholders in the detection and prevention of fraudulent activity. Communicate with members regarding potential fraud and steps they may wish to take to remedy.

Effectively collaborate with all Credit Union departments. This position is also a back-up to other compliance positions, in the department.

• Identify patterns and make analytical recommendations to leadership
• Make recommendations to management to restrict or close accounts based on investigations
• Assist in the development and implementation policies procedures and to detect and prevent fraudulent activity
• Investigate assigned work queues to determine risk potential based on established fraud trends and internal procedures
• Review suspicious online accounts and documentation submitted for new accounts and loans for potential fraud
• Work closely with branches and other departments to identify data-driven fraud and security solutions across the entire Credit Union, including member deposits, ACH/wire, bill pay, online banking, mobile, claims etc.
• Educates credit union employees to identify and respond to potential fraud trends and situations
• Work as a liaison with law enforcement agencies in conducting fraud investigations to file police reports on half of the Credit Union
• Participate in monthly Security & Loss Prevention Association meetings and be an “active” participant in the sharing security and fraud alerts.
• Perform daily reviews of transaction activities for “high risk” accounts including new accounts
• Conduct investigations of fraud cases
• Creates a report and distributes monthly to the Compliance Manager and the Security Officer (internal) that illustrates activities and findings from investigations
• Perform in-depth account investigation and analysis and effectively analyze, compile, organize and interpret data from multiple investigation sources
• In-depth knowledge of and ability to utilize Verafin. Performs CDD, KYM, and EDD reviews as needed
• Reviews daily and weekly BSA/AML alerts and disposition thereof
• Performs high risk, medium risk, NGO, and MSB reviews, as needed
• Knowledge of True Vision Navigator software
• Responsible for reviewing BSA, AML, OFAC, Fraud, and  news releases daily

At least 5 years of experience in the financial industry required; a viable combination of experience and education will be considered

Associates degree or higher in business, criminal justice, or a related field required

Ability to work effectively with others at all levels across the organization and skills in effective professional oral and written communication

The ability to obtain Credit Union-specific compliance certification

Working knowledge of Federal and State laws and regulations related to consumer banking

Excellent attention to detail

Ability to perform mathematical functions and computations

Skills in analyzing, interpreting and preparing statistical data

Proficient in Microsoft Office, general computer programs and general office equipment

Advanced research and problem-solving skills

Ability to work under minimal supervision

Ability to receive and maintain confidential information

Member / Stakeholder Focus:
Builds and maintains effective relationships with credit staff, lenders and members. Identifies member/stakeholder’s needs and expectations of members. Listens carefully in order to see issue from their point of view. Offers practical solutions or recommendations focused on achieving the member/stakeholder’s expectations.

Adaptability:
Learns and adapts quickly in new situations. Possesses a flexible style, the ability to change and adapt to fit circumstances. Adjusts with ease, resulting in successful performance.

Personal Accountability:
Accepts…