Fraud Prevention Officer

NASA Federal Credit Union is in search of a Fraud Prevention Officer to investigate and decision suspicious new account, loan applications and member transactions.  The Fraud Prevention Officer will use a variety of sources for information, including application and authentication tools/models to identify and validate applicant data.  This position will work closely with other stakeholders to identify and mitigate ID theft and application fraud.  It will pparticipate in the development to minimize member impact of fraud prevention strategies.  The Fraud Prevention Officer will pparticipate in cross-departmental teams to identify and evaluate losses, analyze trends, and provide loss mitigation recommendations, as well as review account and loan activity for potential fraudulent behaviors and attributes.  It also has must have the ability to respond to a fraud event after-hours, weekends, and holidays.

Essential Duties and Responsibilities:   include the following with other duties may be assigned

• Remains cognizant of and adheres to credit union policies and procedures, and regulations pertaining to the Bank Secrecy Act, OFAC and the Right to Financial Privacy Act.  
• Investigates suspicious new account, loan application, and account activity.
• Identifies trends related to account/loan fraud.
• Investigates and decisions suspicious account and loan applications. Works cooperatively with other departments.  
• Processes work with attention to timeliness, productivity, and quality. Completes tasks and duties on time or by deadline.
• Uses a variety of sources for information, including application and authentication tools/models to identify and validate applicant data and transactions, including but not limited to:
• Lexis Nexis Fraud Point
• Transunion iOvations
• Experian Precise ID
• Credit Reports
• ID Analytics
• Visa Data Manager
• Visa Risk Services Manager
• IP Verification Services
• Responds to calls/contacts from Credit Union employees asking for assistance with members inquiring about new account, loan applications and account activity.  
• Responds to member inquiries appropriately.
• Responds to and investigates acts of reported fraud activity from various systems.
• Monitors department’s fraud detection systems for suspicious activity.  
• Participates in continuing education to maintain an understanding of fraud trends and related laws and regulations affecting financial institutions.
• Notifies the Financial Crimes and/or Risk Management Departments of suspicious or fraudulent activity for further investigation and reporting to law enforcement.  

• Participates in cross-departmental teams to identify and evaluate losses, analyze trends, and provide loss mitigation recommendations to senior management.
• Reviews application system fraud rules and weighting to ensure manual reviews are minimized and rules represent desired risk tolerances.  Provides feedback to management regarding recommended changes.
• Develops analytical reports that will identify fraud.  
• Assists in classifying losses as fraudulent and performs tracking in loss database, if applicable.
• Participates in the selection of application fraud detection tools and systems.

• Identifies and evaluates fraud trends identified during application reviews and other fraud investigations as applicable and develops and implements process changes and fraud detection solutions to reduce potential fraud losses.  Works with other departments to develop organizational fraud prevention solutions, as necessary.
• Creates playbooks, action plans and processes for key fraud events to ensure prevention workflows are established.
• Provides oversight for application fraud detection tools and systems and reviews/updates procedures to ensure control processes are working effectively.
• Participates in Credit Union presentations to employees.  

• Level I:  Associate Degree in any of the following:  Mathematics, Computer Science, Engineering, Economics, Business, Finance, Statistics, or a related field is preferred.
• Level II:  At least three years of fraud investigation experience in a bank/credit union.  Associate Degree in any of the following: Mathematics, Computer Science, Engineering, Economics, Business, Finance, Statistics, or a related field is preferred.
• Level III: At least five years of experience in bank/credit union fraud investigation experience. A Bachelor’s Degree in any of the following: Mathematics, Computer Science, Engineering, Economics, Business, Finance, Statistics, or another related field is preferred.  

• Excellent oral and written communication skills
• Proficiency in Microsoft Office Suite and use of the Internet and imaging systems
• Ability to work collaboratively across multifunctional teams
• Ability to manage multiple deadlines in a fast-paced and changing environment
• Excellent organization skills

• $42,500 - $97,500 / Annually
• 401(k) match to 6% of earnings – immediate enrollment and 100% vesting
• Choice of two health plans
• Dental 
• Vision
• Life Insurance – no cost
• Long-term Disability Insurance – no cost
• Employee Assistance Program – no cost
• Paid vacation 
• Paid sick time
• 11 Paid holidays
• Profit Sharing eligible

Salary : $42,500 - $97,500