Fraud Investigator

Live Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be America’s Small Business Bank. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak, we never lose sight of the well-being of our people.

We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream.

Completes comprehensive analyses on suspect reports or fraud alerts. Investigates suspicious events to resolution. Takes appropriate actions to prevent and/or minimize losses for Live Oak Bank and its customers. Fraud Investigator also works closely with Customer Success and Deposit Operations (re: Chargebacks, Disputes, and New Accounts), as well as Compliance officers and all other internal teams to mitigate risk.

• Track and document action taken in a timely and accurate manner.
• Open cases in the established case management system to include all records as defined by management
• Conduct thorough investigations related to deposit accounts, loans, electronic transactions, wire transfers, check fraud, and other banking products
• Review system-generated alerts to identify fraudulent activity related to ACH, debit and credit card, wire, digital banking, account openings, and other payment mechanisms.
• Determine action required to protect the Bank’s assets; work with management on handling more complex cases as required
• Identify potential fraudulent schemes through the research process for the engagement of law enforcement personnel
• Work closely with law enforcement and other financial institutions when necessary
• Monitor consumer transaction and account activity for potentially fraudulent activity, including identity theft, account takeover, ACH, Check, Wire, loan, and other identified risks
• Communicate professionally with customers, financial institutions, and other Bank personnel to resolve problems or request additional information and/or documentation to support a decision on whether fraudulent activity has occurred
• Prepare and submit SARs in compliance with FinCEN regulations
• Remain current on national and global fraud trends to incorporate into daily activities as appropriate
• Work with Fraud Analytics to monitor existing fraud models/strategies and ensure they meet false-positive and detection rate criteria
• Explain variances and recommend remedial actions
• Assist in the implementation of new fraud strategies to mitigate fraud losses associated with online banking activity
• Maintain a high standard of regulatory awareness including BSA, AML, CIP, and OFAC

• 3 - 5 years of experience in risk management, payment processing, fraud investigation, chargeback representation, or law enforcement
• Must have working knowledge of fraud schemes, scams, and fraud systems
• Knowledge of card processing, payment fraud prevention/detection techniques, and/or On-line Fraud Management
• Excellent PC and technical proficiency in Microsoft Word, Excel, and Power Point
• Strong analytic and problem-solving skills

• Bachelor’s degree
• Professional Certifications (CAMS, CFE, etc...)

• Dedication:
  Possess a deep commitment to Live Oak Bank’s mission and core values, exemplified through a strong work ethic, adaptability and pride in your work.
• Ownership:
  Take initiative to deliver positive results by proactively and creatively solving problems, while maintaining a high degree of quality.
• Respect:
  Treat everyone with…