Fraud Investigator Specialist

JOB TITLE: Fraud Investigator Specialist GRADE LEVEL: IX

DEPARTMENT: Asset Recovery Dept FLSA: Non-Exempt

DATE: April 2024

Reports directly to: Consumer Lending & Asset Recovery Manager

Function:

The primary role of this position is to prevent, mitigate and manage fraud issues and risks. This position is responsible for conducting detailed investigations of suspicious activity related to fraud, resolving questions from internal and external members and leveraging analytical techniques to identify and evaluate trends. This position requires excellent analytical, communication and organizations skills.

Duties and Responsibilities:

1. Must meet our service standards as evaluated by our internal and external members:

• I will greet you with a prompt, friendly welcome
• I will treat you with courtesy and respect
• I will offer you my undivided attention
• I will take ownership of situations and follow through
• I will provide accurate information and helpful solutions
• I will do all I can to improve your financial life
• I will thank you for your business

2. Provides assistance in the development of fraud mitigation policies, procedures and tools.

3. Manage cases for fraud and suspected or confirmed fraudulent activity reported by employees, members or other persons. Check Fraud including Mobile deposits, new account fraud, wire transfer fraud, Automated Clearing House (ACH) fraud, identity theft, return items, Peer-to-Peer (P2P) and Account-to-Account (A2A).

4. Obtains necessary information concerning ATMs, plastic cards, and other fraudulent claims so cases can be properly investigated.

5. Initiate investigations: responsible for handling all aspects of the investigation, including interviewing victims, suspects and witnesses and collection evidence and relevant financial documents to ascertain fraud claims.

6. Write in-depth reports on findings and ensure the completion of logs, documentation and records to ensure compliance with Credit Union policies & procedures and regulatory requirements.

7. Response to requests from Law Enforcement, acts as a liaison, prepare case referrals and follow up investigations.

8. Recognize Fraud patterns and suggest effective fraud detention and prevent strategies to mitigate fraud losses while ensuring an appropriate balance between risk and member experience.

9. Thoroughly and timely review reports and other investigative leads/tools that potentially identify suspicious activity.

10. Provides training to credit union staff and support departments to improve sensitivity to fraud schemes and their effective prevention.

11. Provides assistance in creating communications on fraud schemes and/or suspects to credit staff and support departments.

12. Coordinates with the Compliance Specialist to ensure that required suspicious activities reports are filed accurately and timely.

13. Assist with the implementation of new processes and software solutions.

14. Maintains current working knowledge of various fraud trends and new detection techniques including ATMs, plastic cards, and other fraud activities.

15. Perform other job-related duties as assigned.

Position Specifications

Education: Bachelor’s degree in a related field such as Criminal Justice, Business.

Experience: 2-4 years of experience in fraud, risk management or operational experience, preferably in a financial institution

Skills:

Basic Knowledge and understanding of Federal, State and Local criminal statutes, credit union regulatory and compliance issues.

Excellent analytical/problem solving skills.

Excellent verbal and written communication skills

Excellent organizational skills and attention to detail.

Capable of self-direction, independent judgment and handling multiple priorities

Ability to handle sensitive and confidential information and matters.

Advance level application of skills in PC Applications – Microsoft Office Suite