Fraud Specialist bei Truity Credit Union

JOB SUMMARY

The Fraud Specialist is responsible for preventing, investigating, and resolving various types of fraud, including debit and credit card fraud, check fraud, ACH fraud, wire fraud, elder abuse, instant payment fraud, and account takeovers. This role involves staying up-to-date on emerging fraud trends and collaborating with internal teams, vendors, and financial institutions to minimize losses and ensure compliance with regulations. The specialist will leverage fraud detection tools and work closely with the Fraud Department manager to evaluate and improve fraud management processes. This position requires quick, accurate decision-making in a fast-paced environment and may include remote weekend and holiday shifts.

ESSENTIAL FUNCTIONS
May include any and/or all of the following:

1. Analyze and review fraud alerts related to potential fraudulent checks, deposits, real-time transactions, account applications, cards, and other financial activities to assess and address risks.
2. Document and summarize fraud cases with detailed accounts of the events leading to the fraud and the outcomes, ensuring thorough records for internal Fraud team use.
3. Utilize Verafin fraud prevention software to conduct comprehensive analysis of historical data on potential fraud accounts, aiding in the detection and prevention of fraudulent activities.
4. Track and assess fraud trends, collaborating with the Fraud Manager to develop and implement strategies to address these trends and reduce fraud losses.
5. Investigate fraud cases involving stolen or altered checks, credit and debit cards, fraudulent deposits, wire transfers, new account openings, ACH transactions, Zelle, FedNow, RTP, elder abuse, QCash, and Bill Pay, ensuring thorough and accurate assessments.
6. Review daily reports in MASTER Site to identify and assess potentially fraudulent activity.
7. Examine New-Edited Payees and Daily New-Edited Payees in MASTER Site for discrepancies or suspicious changes.
8. Make pay/no pay decisions regarding suspicious transactions by stopping or canceling payments in MASTER Site before processing, deactivating Bill Pay accounts as necessary, and notifying iPay of any identified fraudulent activity.
9. Review and investigate YellowHammer alerts for Zelle, using data analysis techniques to detect and prevent fraudulent activities.
10. Evaluate and approve mobile deposit requests from members, setting appropriate monitoring limits based on transaction and account history.
11. Process mobile deposit exceptions flagged for further review to mitigate risks associated with remote deposits.
12. Assess shared service center activities and reports, leveraging data insights to optimize operational workflows and resource allocation.
13. Review the daily Micro Deposit report for fraudulent activity, utilizing data insights to proactively identify and address potential threats.
14. Conduct thorough research and complete Subpoenas, ensuring compliance with legal requirements and data accuracy.
15. Leverage NuDetect to monitor and analyze fraud trends, enhancing the detection of suspicious activities.
16. Develop a process to identify repeat offenders and ways to limit our exposure for card activity.
17. Work with our vendors to set and monitor merchant restrictions during fraud outbreaks on cards.
18. Develop a network of tools, tasks, internal connections and vendor contacts to track card fraud and work cases.
19. Process card fraud/disputes, providing provisional credit and alerting Velera.
20. Collaborate with the Financial Operations Specialist, Risk Department, and Retail staff to address and resolve fraudulent activities effectively.
21. Collaborate with management and Risk Committee about ongoing fraud trends and possible mitigation.
22. Create and follow timeline of known events leading up to the fraud transaction(s) for paper trail.
23. Utilizing Mantl and Alloy to monitor fraudulent account applications.
24. Perform other duties and responsibilities as assigned.

KNOWLEDGE, SKILLS, ABILITIES AND PERSONAL CHARACTERISTICS

Knowledge of:

• Modern office equipment, 10-key, and procedures
• Credit union products and services, credit card products, requirements, and procedures
• Basic accounting principles
• Technology and various software including Symitar, Star, WebTrack, Synergy, VISA/FDR, Rownet, Sterling File Gateway, PSCU Financial Services, CUNA Mutual, PULSE, Verafin, Microsoft Word, and Excel
• Debit and credit card platforms and functionality
• Fraud detection techniques, including check fraud, ACH fraud, and digital fraud
• Regulatory compliance, including Regulation E and fraud prevention/reporting legal requirements
• Financial products and services for identifying and addressing fraudulent activities
• Risk management principles specific to financial institutions

Ability to:

• Carry out credit union mission, philosophies, values, and practices
• Solve practical problems and manage variables in situations
• Develop policies and procedures adhering to Card Act Regulations and CFPB standards
• Organize and prioritize tasks to meet deadlines
• Interpret a variety of instructions in written, oral, diagram, and schedule form
• Speak with confidence and clarity to members and stakeholders
• Adapt professional communication style to meet member needs
• Maintain confidentiality and professionalism in all interactions
• Address and resolve complex fraud-related issues efficiently
• Make timely, informed decisions under pressure, particularly in fraud cases
• Collaborate with internal teams (Risk Department, IT) and external partners (law enforcement, vendors)

Skill in:

• Strong verbal and written communication for clear, professional interactions
• Analytical skills to spot patterns, analyze complex data, and make informed decisions
• Investigative skills to conduct thorough investigations and draw accurate conclusions
• Technical proficiency with fraud detection software (e.g., Verafin, NuDetect) and case management systems
• Attention to detail to ensure accurate identification and documentation of fraudulent activities
• Constructively delegating duties and collaborating across teams
• Adapting to evolving fraud trends, new technologies, and regulatory changes

These qualities collectively contribute to a Fraud Specialist�s effectiveness in protecting the credit union and its members from fraudulent activities.

QUALIFICATIONS
Critical Development Experiences:

Pursue opportunities for professional growth and development through training, education and self-study

Successfully complete all applicable compliance training and testing

Education and experience equivalent to:

A minimum of one year up to three years of similar or related experience, including prepatory experience.

A high school degree or equivalent.

REQUIREMENTS

Regular attendance and timeliness are essential functions of this position. While performing this job, the employee is regularly required to sit or stand for a significant period of time and perform functions that require manual dexterity. The employee must occasionally reach above or below normal body position, stoop or bend, and carry, lift or move objects weighing up to 50 pounds. A normal range of hearing, vision, and speech are required to effectively work with co-employees and members.

REGULATORY COMPLIANCE & CONFIDENTIALITY

Follows regulatory and policy compliance requirements, which include those efforts in compliance with Bank Secrecy Act (BSA), Office of Foreign Asset Control (OFAC) and Anti-Money Laundering (AML) Regulations, Identity Theft Red Flags, Regulation E and other compliance related Policies. This position also requires maintaining confidentiality with regard to non-public information about our members and the Credit Union.

This job description should not be interpreted as all inclusive. It is intended to identify the duties, responsibilities and requirements of this job. Incumbents may be requested to perform job-related responsibilities and tasks other than those stated in this description. Any physical demand of essential function or requirement of this position will be evaluated as necessary should an incumbent/applicant be unable to perform the function or requirement due to a disability as defined by the Americans with Disabilities Act (ADA). Reasonable accommodation for the specific disability will be made for the incumbent/applicant when possible.

Equal Opportunity Employer/Veterans/Disabled

Truity is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.

If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process, or are limited in the ability or unable to access or use this online application process and need an alternative method for applying, you may contact 918.336.7662 or [email protected] for assistance. You may also contact us at that same number and email, if you would like to see a copy of our Affirmative Action Plan.