Fraud Risk Investigator

The Fraud Risk Investigator position is an individual contributor position in the Financial Crime Prevention Unit of the Enterprise Risk Division. The role is key in protecting bank and client assets in the resolution of financial fraud cases.
The main purpose of the position is to investigate external fraud cases across multiple payment types and channels to determine root cause, fraud schemes and parties involved to arrive at a final resolution. Case types worked include Online Account Takeovers, ID Theft, Check Fraud, Wire Fraud, ACH and Zelle, Elder Abuse and New Account fraud.

The Fraud Risk Investigator is responsible for identifying patterns and anomalies by reviewing account and client records and making recommendations to avoid re-occurrence of fraud events, including changes to bank procedures and/or controls.

Perform escalation of cases to management as required in procedure and perform regulatory reporting to FINCEN through timely and accurate creation of SAR's filings.

Maintains ongoing communication with internal and external clients regarding associated account resolution, and provide direction to all lines of businesses in handling fraud claims.

Keeps up to date with fraud risk trends, and investigative skills by attending fraud related conferences or trainings. Builds network of contacts with other financial institutions and law enforcement to assist and collaborate on fraud cases.

Principal Duties & Responsibilities:

Performs comprehensive case investigations on financial fraud events that span multiple payment types and channels.

• Analyze transaction and customer data on bank systems, system logs, call logs and open-source data to aid in identification of how a fraud event has taken place.

• Provide recommendations and mitigation strategies to avoid re-occurrence of fraud based on case findings.

• Evaluate cases in a timely manner for SAR filing requirements, and if needed complete SAR according to regulatory timeframes and requirements.

• Prepare and maintain accurate and detailed case documentation and artifacts, including evidence to support decisions.

• Maintain recovery files and other shared department logs up to date (eg..UAR logs, Subpoena log).

• Resolves all investigations, in compliance with industry regulations and bank procedures, within the respective timeframe allowed based on the case type and complexity.

• Report all losses and near misses to Operational Risk Department.

• Provide fraud training to new employees, as well as ongoing training to bank staff on fraud trends.

• Provides support to lines of business in client handling of fraud cases through effective and timely communications on case status, findings and case disposition.

• Use Case Management tool (Verafin) to document all actions taken in case investigation

• Create root-cause and timeline reports on fraud cases as dictated by department policy and procedures or as requested by Management.

• Meet with Digital Channels on ZELLE alerts and profile blocks and make decision on final disposition

• Determine case liabilities based on Depositor Agreements and bank regulations (Reg E, Reg CC, NACHA and UCC)

• Attempt to recover funds for bank and clients with a sense of urgency by processing transaction recall requests, Breach of Warranty, Indemnification, prosecution, or repayment agreements.

• Perform interviews and interrogations of parties involved in fraud cases, including clients and bank staff and maintain notes and evidence of any admission of involvement by parties being interviewed.

• Notify and work with local and Federal Law Enforcement agencies (USSS, FBI, US Postal OIG, ETC..) in support of Subpoenas and arrests to resolve fraud cases.

• May be required to attend depositions and court hearings

• 3 - 5 years experience in fraud or AML investigations in a Financial Institution.
• CFE Certification.

• Experience in resolving conflict, conducting investigations/interviews while maintaining composure.

• Requires skills in fact-finding, analysis, problem-solving and critical decision making, acting with a sense of urgency.

• Must have general knowledge of consumer compliance laws and regulations.
  Possesses a moderate understanding of general aspects of fraud investigations and security functions.

• Must have knowledge of current security procedures, fraud tactics and regulations in the industry, including but not limited to Bank Protection Act, Suspicious. Activity Reporting, Reg. CC, Reg. E, Patriot Act, Wires, ACH, EFT Claims, and Debit/ATM card transaction disputes.

• Must have the ability to exercise discretion, judgment, and good resolution about transaction problems and inquiries.

• Must have the ability to understand and carry out oral and written instructions, and to cope with situations impartially, firmly, courteously and with respect for the rights of others.

• Must have the ability to recognize, identify and interpret a variety of work such as instructions, forms, and reports.

• Excellent verbal and written communication skills

• Excellent analytical/problem-solving skills.

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

• Ability to handle confidential material to avoid disclosure of any such information.

• Advanced level application of skills in PC applications - Word, Excel, and Power Point.

• Bachelor's degree in Criminal Justice/Cybersecurity.

• Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.
• Please view Equal Employment Opportunity Posters provided by OFCCP here.
• 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)
• Reasonable accommodation may be made to assist individuals with disabilities to complete the online application process. Please contact our Human Resources Department at 305-577-7680 or by e-mail at employment@citynational.com.