Fraud Specialist bei None

Position Purpose

Leads fraud prevention, detection and follow-through efforts with appropriate channels.  Serves as point of contact for credit union fraud situations. Investigates financial crime activities perpetrated against the credit union or its members. Assesses the inherent level of risk Credit Union services may present and provide suggestions to management to minimize member impact and loss to the Credit Union. Provides institution-wide leadership of a comprehensive financial crimes risk management program, enhancing strategic positioning of financial crimes efforts across the credit union by overseeing the creation and implementation of consistent policies, processes, training, and response efforts to prevent such activities. Provides reporting and information to assist the organization with fraud efforts. Responsible to research and identify all possible avenues to the recovery of funds and/or property obtained by such financial crimes and coordinate with appropriate law enforcement agencies to help identify and facilitate the prosecution of the person(s) perpetrating such financial crimes.

Duties & Responsibilities

Assumes responsibility for Financial Crimes detection and prevention:

• Develop and maintain a comprehensive Financial Crimes detection and prevention program that mitigates risk and financial or reputational loss.
• Oversees a proactive Financial Crimes Risk Management Program using data extraction, data analytics and management reporting.
• Reviews and recommends new methods and procedures to ensure daily operations are more efficient and effective in detecting and preventing fraud, identify and clearly articulate gaps, and track recommendations to completion.
• Assists management and contributes to the development and implementation of Fraud Risk processes, tools, policies, standards, and procedures.
• Create and maintain any forms or templates necessary for intake, interview, documentation or determination of financial crimes.
• Act as the subject matter expert for financial crimes’ prevention and detection and provide consulting to the business unit owners, assisting them with structure and use of data analytics to detect fraudulent patterns of activity.
• Review and investigate alerts on credit union fraud detection systems, monitors effectiveness and adjusts the parameters of the fraud detection systems as needed.
• Oversees and performs investigations regarding financial crimes and reports of unusual activities, providing oversight and appropriate resolution to the business unit owners.
• Conduct interviews with fraud victims, witnesses, merchants, other financial institutions, employees or suspects to establish details of the fraud incident to be documented, as needed.
• Review, research, and analyze fraud losses relating to new accounts, new loans, ATM transactions, wire and ACH transfers, branch and shared branch transactions, online banking transactions and credit card and debit card activity to assess levels of risk, identify and document lessons learned and provide guidance to management and employees to ensure appropriate actions are taken to mitigate losses and loss exposure.
• Monitor and Review High-Risk Member profiles relating to fraudulent activity: including issuance of recommended actions related to the account and member relationship, such as closure, heightened account monitoring or other similar action.
• Responsible for analyzing account activity utilizing various fraud tools and reviewing system reports for fraud detection on a daily basis to detect and prevent fraudulent activity.
• Analyzes potential check and deposit fraud, debit card, and checking irregularities, including returned deposited items, wire and ACH activity, check kiting, new account fraud activity, commercial and consumer loan fraud, and any other reports of unusual activities.
• Prepares a detailed transactional and financial analysis summarizing fraudulent activity for management to illustrate current and past fraud trends, including analytical data, presentations, spreadsheets, graphs and tables.
• Prepares and analyzes internal and external fraud loss data reporting to monitor risk management activities associated with significant losses.
• Effectively communicates emerging and/or changing risk and related control opportunities and enhancements to management.
• Works with the BSA-AML Compliance Team to investigate fraud related to Identity Theft and/or Elder Abuse.
• Assesses credit union policies, procedures and practices related to fraud internal controls and make recommendations to update and enhance policies, procedures and practices as needed.
• Act as a liaison with law enforcement (Federal, State, and Local) and social service agencies by providing detailed information, case files, attend court hearings and pursue prosecution/restitution as appropriate.
• Participate in industry groups to maintain knowledge of threats and prevention strategies in the fraud and data analytics space. Lead credit union efforts to assess and champion enterprise-wide technology solutions to help prevent or detect fraud. Identify potential risk and control gaps and provide recommendations to improve monitoring applications and processes, including technology enhancements.
• Maintains awareness of key process changes, system changes, organization or governance structure, and key outsourcing arrangements/vendor exposure and how they impact operational risk management. Keep management informed of current and pending laws and regulations, trends and potential risks associated with fraud.
• Lead and administer fraud risk assessment process with all business units. Identify potential risk and control gaps and provide recommendations to improve monitoring applications and processes, including technology enhancements.
• Risk assesses the effectiveness of antifraud programs and controls in place.
• Lead and administer the Identity Theft Risk Assessment yearly.
• Maintain a working knowledge of REG CC and UCC guidelines to assist and provide guidance, as needed, for check warranty claims and processes in accounting.
• Maintain a working knowledge of the debit card dispute process and Regulation E rules to assist and provide guidance as needed.
• Develop and obtain training and educational materials to bring awareness to members and credit union employees on fraud trends and prevention knowledge as needed, in-person and through other forms of media.
• Develop and maintain the Financial Crimes intranet page on REVLife
• Assist with internal and external audits.
• Coordinates with the appropriate departments to close identity theft accounts as identified and confirmed.
• Assists the various lines of business with the review of suspect membership and loan applications and any reports of potential identity theft.
• Takes calls and answers questions from departments, branches and call center about potential fraud.
• Places restrictions, notes and alerts on accounts suspected of fraudulent activity.
• Positively perform all other duties and responsibilities as assigned.

Assumes responsibilities for related duties as required or assigned.

Skills & Qualifications

Education/Certification & Experience:

• Strong process improvement and risk mitigation skills
• Clear, professional, and courteous communication abilities
• Self-motivated and goal oriented
• Skilled in using diplomacy with members and maintaining confidentiality
• Excellent telephone etiquette, organizational, and time management skills
• Must maintain a satisfactory credit record and be bondable
• Associate degree, completion of a specialized course of study, or equivalent experience required; experience in the financial services industry preferred
• Ongoing professional development and job-related certifications required

Skills/Abilities:

• Finger Dexterity: Ability to make small, precise movements such as typing, picking up small objects, or pinching fingers together.
• Talking: Frequent communication required to clearly and accurately convey detailed or important information.
• Hearing: Sufficient to hear normal conversations and receive standard information.
• Repetitive Motions: Regular use of wrists, hands, and fingers.
• Vision: Average visual acuity needed to review documents, products, or operate standard office equipment.
• Physical Strength: Primarily sedentary work involving sitting most of the time; occasional exertion of up to 10 lbs. (typical of office environments).

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities  

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)