Fraud Analyst

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The Fraud Analyst is responsible for helping to safeguard the credit union’s assets and the assets of its members through proactive measures to identify fraudulent transactions and to help mitigate exposures and losses caused by fraud. Responsible for reviewing, investigating, and processing fraudulent or unauthorized debit card or check transactions. They will report on fraud trends and losses. They will collaborate with team members to make recommendations to enhance or update current processes. They are responsible for providing superior service to internal and external members and promoting member relationships that exceed expectations. They will assist and support the Risk department in compliance and risk related tasks.

· Conduct in-depth transaction and alert reviews and analysis using available systems and resources.

· Handle debit/credit card disputes through Co-Op (and ATM card fraud disputes in house): including investigation, communication with member, tracking, documenting, making determinations, sending applicable notifications, and providing provisional credits.

· Identify potential fraudulent actions on member accounts.

· Monitor daily deposit reports to identify fraudulent activity.

· Maintain favorable member relations with law enforcement and judicial agency personnel through regular contact; exercising discretionary judgment and initiative regarding check or debit card fraud claims within the parameters of the organizations policies, procedures, and security.

· Responsible for fraud prevention and mitigation, ensuring all fraud programs and actions are compliant with organizational policies and relevant federal and state regulations.

· Keep management informed regarding key fraud issues affecting the organization.

· Report fraud trends and losses to management. Make recommendations based on the analysis of the data.

· Escalate complex alerts and fraud situations to management.

· Assist with the development of fraud policies and procedures, and compliance programs.

· In conjunction with the BSA and Compliance Officer, coordinate a risk assessment and present a summary report to the Risk Assessment Manager.

· Assist members and staff by responding to fraud related requests/questions/concerns.

· Work closely with dispute representatives on reported fraud and card compromises.

· Work closely with management on projects and implementations related to fraud monitoring and reporting.

· Participate in special projects as needed.

· Consistently meet department quality, service and production standards that promote member satisfaction, retention, and expansion.

· Exhibit support for the organization’s goals, values, initiatives, and cost control.

· Must comply with applicable laws and regulations, including but not limited to, Bank Secrecy Act (BSA) , Regulation E, The Patriot Act, and the Office of Foreign Assets Control, in addition to all credit union policies and other compliance requests and requirements.

· Follow all safety and security guidelines to properly safeguard member and organization assets.

· Maintain up-to-date and accurate filing system.

· Assist in the revision and/or design of security measures, forms, contracts, agreements, or disclosures, in compliance with all State and Federal rules and regulations.

· Embrace ongoing education and learn/apply new skills and software applications.

· Regular attendance and punctuality are essential to the functions of the job.

· Perform other fraud/compliance/risk related job duties as assigned.

· Thorough knowledge of Regulation Z, Regulation CC and Regulation E. Knowledge of Co-op rules and regulations.

· Excellent verbal and written communications skills to facilitate meetings, gather and document business and technical requirements, translate requirements, and communicate with technical staff, management, members, and credit union staff as appropriate.

· Must be able to perform mathematical calculations with extreme accuracy.

· Strong relationship building, customer service and teamwork skills.

· Excellent attention to detail, analytical, problem solving and decision-making skills.

· Excellent organizational and time management skills with ability to work independently and manage multiple priorities with tight deadlines.

· Proficient in MS Office (Outlook, Excel, Word, and PowerPoint).

· Able to learn and retain knowledge in depth for all debit card and ATM adjustment functions; to follow VISA and ATM network regulations and comply with FRB Regulation E to limit potential liability for the credit union.

· Able to use database, spreadsheet and word processing software to record and maintain records.

· A significant level of trust, credibility and diplomacy is required.

· Ability to maintain confidences.

· Must be able to perform responsibilities with composure under the stress of deadlines/requirements/upset members for extreme accuracy and quality at a fast pace.

· College degree preferred.

· Three to five years of experience in a financial institution.

Job Type: Full-time

Pay: $45,000.00 - $55,000.00 per hour

Expected hours: 40 per week

Benefits:

• 401(k)
• Dental insurance
• Health insurance
• Paid time off
• Vision insurance

Schedule:

• 8 hour shift
• Monday to Friday
• Weekends as needed

Work setting:

• Hybrid work
• Office

Ability to Relocate:

• Detroit, MI 48207: Relocate before starting work (Required)

Work Location: Hybrid remote in Detroit, MI 48207