Salary Job Openings

Fraud Specialist

Launch Credit Union
Merritt, FL Full Time
POSTED ON 11/14/2023

Position Summary

The Fraud Specialist is responsible for the protection of Credit Union assets, through the execution of effective fraud prevention programs. Performs various activities to identify, address, report and mitigate fraud. Works closely with internal colleagues and external parties to address fraudulent activity.  Analyzes products and processes to assess exposure to loss and makes recommendations to decrease exposure to fraudulent activities.  Supports and provides exceptional internal and external member service. Serves as a backup for the BSA Specialist.

Primary Responsibilities

  • Supports Fraud Prevention programs and proactively maintains awareness of new and developing trends in fraudulent activity and makes recommendations for the credit union to prepare for them. Recommends policy and procedural changes to identify and prevent further risks to the credit union. 
  • Monitors systems and reports for potentially fraudulent activity, takes appropriate action and dispositions cases/alerts accordingly. Analyzes trends and makes recommendations to minimize fraud exposure to members and the Credit Union.
  • Conducts investigations including interviews of members or related parties. Reviews evidence and documents witness statements and any actions taken or to be taken.  Ensures that potential suspicious transactions or financial crimes are identified.  Researches transactions causing a loss (fraudulent deposits, ATM transactions, debit/credit disputes, etc.) to the credit union in an attempt to recover funds. Documents and reports incidents to the BSA team to file Suspicious Activity Reports as needed.    
  • Monitors and reports non-compliance of check holds and special handling of accounts to applicable levels of management.
  • Maintains fraud documents and records.
  • Performs periodic reviews, prepares reports, and advises senior management of deficiencies and remedial efforts to correct deficiencies.
  • Actively participates in fraud prevention awareness strategies and collaborates with internal and external parties (peers, law enforcement, community liaisons, etc.) to identify new trends and associated risk mitigation techniques.
  • Conducts fraud awareness training sessions with all personnel.
  • Assists members with fraudulent activity on their accounts in supporting documents and filing appropriate claims.
  • Collaborates with internal and external parties to monitor accounts, utilizes fraud software to monitor accounts for suspicious activity or potential fraud, file police reports, bond claims, and other reports.
  • Works with multiple departments within the credit union and outside contacts such as the bonding company, law enforcement agencies and members.
  • Responsible for complying with legal processes which include responding to subpoenas and appearing in court for testimony and depositions when required.

    • Other Responsibilities

  • Assists with the review of system generated alerts concerning Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Assets Control (OFAC) regulatory requirements.
  • Responds to subpoena request and conducts account research to provide required documents.
  • Reviews high risk member account transactions to detect suspicious activity. Reviews findings with management to determine if further investigation or filing of a Suspicious Activity Report (SAR) is warranted.
  • Documents the summary of investigative findings (e.g., copies of statements/checks, media search results, results from internal system searches, etc.) and prepare cases for review and approval by management.
  • Supports management teams by ensuring daily, weekly, and monthly activities are completed on time.
  • Consistently promotes and maintains a positive image of the credit union philosophy to other personnel, members, and the community.
  • Promotes teamwork in order that work is performed in a collaborative manner and standards for excellent member service are achieved.
  • Follows all Launch Credit Union policies and procedures.
  • Completes all training assignments in a timely manner.
  • Attends meetings and training sessions as required.
  • Performs other duties as assigned.

    • Supervisory Responsibilities

    None

    Education, Experience, and Skills Required

  • Three to five years of experience in a financial institution handling fraud.
  • High school education or GED.
  • Knowledge of banking and money movement concepts including but not limited to wire transfers, check-kitting, ACH payment fraud, money laundering, and technological data breaches.
  • Previous BSA experience in a financial institution preferred.
  • Strong interpersonal skills with the ability to work well with members and other employees.
  • Good oral and written communication skills.
  • Analytical and problem-solving ability.
  • Demonstrated knowledge of criminal laws and procedures and financial regulations.

    • Salary.com Estimation for Fraud Specialist in Merritt, FL
    $47,334 to $64,504
    If your compensation planning software is too rigid to deploy winning incentive strategies, it’s time to find an adaptable solution. Compensation Planning
    Enhance your organization's compensation strategy with salary data sets that HR and team managers can use to pay your staff right. Surveys & Data Sets

    Sign up to receive alerts about other jobs with skills like those required for the Fraud Specialist.

    Click the checkbox next to the jobs that you are interested in.

    • Compliance Management Skill

      • Income Estimation: $45,310 - $67,017
      • Income Estimation: $49,533 - $70,239

    • Emergency Management Skill

      • Income Estimation: $55,090 - $76,923
      • Income Estimation: $59,736 - $69,617
    Employees: Get a Salary Increase
    View Core, Job Family, and Industry Job Skills and Competency Data for more than 15,000 Job Titles Skills Library

    Job openings at Launch Credit Union

    Member representative
    Launch Credit Union
    Hired Organization Address Merritt, FL Full Time
    Member Solutions Representative 2024-1179 Category Member Solutions Position Type Regular Full-Time Remote Status Not Re...
    Consumer Loan Processor
    Launch Credit Union
    Hired Organization Address Titusville, FL Full Time
    Position Summary This position allows for an optional hybrid work arrangement which includes a combination of both in-of...
    Member service representative
    Launch Credit Union
    Hired Organization Address Titusville, FL Full Time
    Member Services Representative I (Titusville - Singleton) 2024-1194 Category Branch Operations Position Type Regular Ful...
    Member Services Representative III (Port St John)
    Launch Credit Union
    Hired Organization Address Cocoa, FL Full Time
    Position Summary The Member Services Representative III (MSR III) is responsible for providing exceptional service to me...
    View More Jobs at Launch Credit Union

    Not the job you're looking for? Here are some other Fraud Specialist jobs in the Merritt, FL area that may be a better fit.

    Medical Assistant

    Gastroenterologist Specialist of the Treasure Coast, Port Saint Lucie, FL

    SOAR SPECIALIST

    New Horizons of the Treasure Coast Inc., Fort Pierce, FL

    View More Jobs