Fraud Investigator at Foothill Federal Credit Union

Description

Position: Fraud Investigator

Pay Range: $26.25 to $39.38

FLSA Classification: Non-Exempt

This is a hybrid position based at our headquarters in Arcadia, CA.

Who We Are: Foothill Credit Union is a full-service financial institution proudly rooted at the foothill of the San Gabriel Valley (SGV), serving members of our select employer groups (SEGs)—primarily in education, healthcare, and municipal government—as well as individuals, families, and more than 250 businesses in the SGV and surrounding areas. 

Exceptional service is our promise to members. We’ve earned a prestigious five-star rating from Bauer Financial, placing us among the top institutions in our peer group. CUNA recognized us with the 2021 Member Benefits Top Performance accolade for delivering an average direct benefit of $690 per member household. During Q4 2024, we achieved the #1 ranking in overall return of value to members (ROM) among peer credit unions ($700MM–$1B) in California, according to Callahan & Associates. 

As a dedicated community advocate, Foothill actively partners with local businesses and organizations to support meaningful causes. Through events, sponsorships, and fundraising efforts, we actively give back to the individuals and groups that make up the core of our community. 

Benefits and Perks: 

• 100% covered medical/dental/vision for employees 
• 401(k) plan with match
• Profit-Sharing Plan
• Paid Holidays 
• Paid Time-Off 

About the Role: The Fraud Investigator serves as a key resource in internal and external investigations, loss prevention policy/procedure development and implementation, and regulatory compliance and reporting. Through a demonstrated expertise in investigative techniques and an understanding of industry fraud trends the Fraud Investigator makes recommendations to combat fraud. They have a sufficient working knowledge of bank deposit and lending operations, and physical security devices to research data, account transactions and maintenance information, reports, videos, and other media to investigate suspicious activity. 

 Essential Duties and Responsibilities: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required but may not be all-inclusive. Additional functions and requirements may be assigned by supervisors as deemed appropriate.  

· Conduct Fraud Prevention and Awareness training for new hires, departments and branches and assists in cross-training of other department personnel

· Adhere to BSA and SAR reporting obligations and departmental standards for managing the documentation, retention, and release of investigative records and evidence related to suspected fraud

· Investigate reports of Elder Financial Abuse and comply with county and state reporting requirements

· Apply fiduciary expertise to provide accurate and reliable guidance to frontline inquiries

· Ensure all departments adhere to elder abuse regulatory compliance by providing proper training, APS, and SAR filing and tracking

· Complete Suspicious Transaction Reports and follow ups for fraud risk levels, including Identity Theft and Elder Financial Abuse

· Carry out investigative activities—such as data analysis and member outreach—in a lawful, compliant, and professional manner aligned with regulatory requirements and the Credit Union’s shared values and service standards

· Under the direction of the MRC, conduct fraud and risk monitoring, internal control risk assessments, and internal control testing to ensure processes and procedures effectively support a strong fraud and risk control environment

· Perform New Account investigations to ensure all new accounts satisfy Foothill Credit Union and compliance standards

· Perform Consumer and Real Estate Loan Fraud investigations reviewing for evidence of false application information or credit report variances

· Support and assist MRC with check fraud claims investigations, claim decisions, and collaborate with other departments to complete the check fraud claim process

· Determine if a fraud investigation is warranted and take appropriate steps to mitigate losses

· Analyze and evaluate fraud risks and recommend changes to policies, procedures, and processes to ensure risk-based and appropriate controls are instigated and maintained reasonably

· Conduct routine to complex investigations across deposit, lending, and administrative operations, generating insights related to current or prospective members and employees

· Analyze and interpret data from internal systems and third-party sources

· Participate in investigative task forces or projects that represent significant loss exposure or are high-profile issues

· Assist to identify significant issues and control weaknesses and make recommendations to minimize exposure or loss

· Collect, organize, and document information and evidence in case tracking system 

· Prepare reports for management as requested

· Develop and coordinate training regarding fraud and investigations 

· Communicate fraud trends, regulatory compliance and internal procedure updates to related departments via bulletin emails or team meetings. 

· Record and retain documentation and evidence of all investigative activities in accordance with regulatory requirements and department procedures

· Collaborate with various departments related to fraud investigations that may include Branch Network, Contact Center, Payment and Operations, Asset Recovery, Lending and others 

· Act as a Credit Union representative in communicating with FBI and other federal law enforcement agencies, state and local police, prosecutors, the United States Attorney Office, regulatory agencies, and other financial institutions

· Provide information for insurance claims related to fraud, forgery, and other collections regarding security issues. 

· File police reports and work with law enforcement on criminal cases and pursue civil remedies when appropriate 

· Assist frontline employees with Fraud Risk Management, new membership identity, and membership eligibility

· Assist in the review and investigation into Peer-to-Peer (Zelle) ACH fraud system alerts looking for instances of members being scammed or online banking compromises

· Responsible for completing special projects, as assigned, supporting general business initiatives related to the Fraud Risk Management functions and/or outside of the primary Fraud Risk Management functions

· Act as a backup for Verafin cases, filing CTRs and SARs, reviewing OFAC scrubs, and completing various internal audits

· Manage and properly respond to emails within R&C Inbox in a timely manner

· Assist with or perform special investigations or audits as assigned

· Become an active member of Credit Union and Financial Institutions peer fraud groups and organizations that include CUFFS, IAFCI, local police contacts and others

· Provide backup and support to MRC around incident report processes as needed or assigned

· Maintain appropriate levels of confidentiality

· This position requires a minimum number of in-office days as deemed by the manager

Requirements

Experience/Education Requirements:

· Bachelor’s degree in business administration, Criminal Justice, or related field; or equivalent combined education and work experience of a minimum of four (4) years of work-related experience

· Minimum of four (4) years of related experience in a financial institution and working knowledge of the fundamentals of credit union/banking operations, U.S. banking laws and regulations applicable to a federal credit union and its applications to ensuring the safety and soundness of Credit Union staff and member assets.

· Minimum of three (3) years of experience in a financial investigator role at a financial institution or credit union is preferred.

· Must also have demonstrated ability to use Internet software, MS Excel, MS Word, MS PowerPoint, Outlook and Symitar banking system. 

· Previous experience with Online/Real Time Fraud Investigation Software and Case Management Software is preferred.

· Experience contacting various police divisions and filing police reports is preferred.

· Experience contacting other financial institutions and Credit Unions requesting information and networking for best practices. 

Desirable certifications in the following areas:

· Must have experience or certification in conducting interviews with internal and external fraud suspects. Certified Forensic Interviewer (CFI), Certified Fraud Examiner (CFE) or an equivalent certification is preferred. 

Other Skills and Abilities:

· Demonstrated ability to prepare clear and concise written recommendations

· Demonstrated aptitude to troubleshoot issues as they arise promptly

· Must have problem-solving skills and a proactive mindset

· Must possess effective verbal and written communication skills

· Good knowledge of emerging technological, industry and fraud trends

· Must have advanced knowledge and experience with Windows, Word, Excel, and other computer applications

· Must maintain a professional appearance

· Thorough knowledge of applicable federal and state financial regulations

· Solid analytical and problem-solving skills

· Attention to detail and highly observant

· Creative and able to develop innovative solutions to complex issues

· Maintain a positive and professional behavior and image with credit union members, staff, and management

· Maintain a working knowledge of policies, procedures, regulatory compliance, and laws necessary to perform job duties effectively

· Work remotely without onsite supervision; regularly travel within the branch network.

· Ability to prioritize, adapt to change, and efficiently handle a variety of tasks in a busy and dynamic work environment

· Ability to work with diverse personalities and populations

· Able to lead through influence in a collaborative environment by motivating, developing, and directing team members

· Must be able to travel to all the Credit Union’s facilities.

· Must be able and willing to testify on behalf of Credit Union security matters in court.

· Must have a method of transportation when needed to carry out essential job- related functions; if operating a motor vehicle, must have a valid driver's license and proof of at least minimum automobile insurance coverage as required by the State of California.

Foothill Credit Union is an Equal Opportunity Employer and does not discriminate against any team member or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity, intersectionality, status as a veteran, and basis of disability or any other federal, state or local protected class.