What are the responsibilities and job description for the Fraud Specialist position at Community First Credit Union?
We believe that there’s nothing more fundamentally important than protecting our members. As Fraud Specialist, you’ll be on the front lines for mitigating fraud risk to our members by identifying, investigating and remediating potential fraudulent activity occurring in members’ accounts. You’ll collaborate and work closely with the Fraud team as well as other departments within the credit union to investigate transactions that are suspicious in nature, and make sure that we are centering the safety and security of our members’ financial futures in everything we do. If working with a team of passionate professionals, as well as leveraging your own knowledge and investigative ability to protect our members sounds like your dream job – we’d like to hear from you!
As our Fraud Specialist, you will:
- Review and investigate alerts on fraud detection systems. Take appropriate action to prevent or mitigate losses to the Credit Union. Complete cases of suspicious activity and ensure continued monitoring when necessary. Use and manage the Verafin fraud detection software to investigate, document and maintain records of fraud and money-laundering scenarios
- Review, research and analyze account activity including but not limited to new accounts, new loans, ATM transactions, debit card transactions, wire and ACH transfers, branch transactions and online banking.
- Handle escalated calls to assist members and member-facing team members with complex fraud cases
- Proactively recommend improvements to business processes to mitigate fraud/risks
- Participate in local fraud prevention networking groups, keeping current on trends and fraud scenarios
- Assist the organization’s program of compliance with the Bank Secrecy Act, OFAC regulations, FinCEN regulations and all other related AML laws and regulations, including preparation of SAR reports
- Perform detailed analysis on depository accounts that appear to have activity that would support suspicions of fraud. Provide detailed documentary evidence to support findings
- Take precautionary measures on accounts and/or transactions to mitigate risk to CFCU and CFCU’s member-owners, and provide direction to all lines of businesses supported by Fraud Services
An ideal candidate will have a combination of:
- 3 years financial institution experience with related BSA/AML and fraud detection and analysis experience
- High School Diploma or GED equivalent is required. College Degree preferred; an equivalent combination of education and experience will always be considered
- Significant knowledge of laws and regulations impacting the credit union, including BSA/AML
- Two years prior bank operations, criminal justice, para-legal, accounting; or equivalent combination of education and experience
- Proficiency using Microsoft Office Suite and a variety of on premise and cloud-based software solutions
- Advanced ability to effectively communicate in writing and orally, as well as interact, with employees of all credit union’s departments, members, auditors and regulatory examiners
- Ability to work independently and as part of a team
- Established proficiency managing multiple diverse tasks
- Demonstrated ability to complete job duties within established service level agreements and regulatory constraints
- Demonstrable ability to analyze, solve problems, and make decisions effectively and independently
- Adaptable to new ideas in a changing environment
- Excellent customer service skills
