Financial Crimes Support Specialist I

SUMMARY:

The Financial Crimes Support Specialist I is responsible for assisting in the implementation, administration, documentation, and maintenance of all aspects of the credit union’s fraud, NPI and identity theft prevention (red flag) programs. Performs research, loss mitigation, and recovery efforts across multiple intake channels to decision financial crimes related cases and alerts. Researches and analyzes account activity to assess the level of risk and make decisions in accordance with applicable corporate and departmental policies and procedures. Ability to work in a fast-paced and rapidly changing environment. Works under limited supervision following established guidelines and procedures.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following:

·    Review, research, and analyze new accounts, new loans, ATM transactions, wire and ACH transfers, branch and shared branch transactions, online banking transactions and prepaid, credit card and debit card activity to assess levels of risk and detect fraudulent activity. Check Fraud including Mobile deposits, new account fraud, wire transfer fraud, Automated Clearing House (ACH) fraud, identity theft, return items, Peer-to-Peer (P2P) and Account-to-Account (A2A).

·    Assesses credit union policies, procedures and practices related to internal controls and make recommendations to update and enhance policies, procedures and practices as needed.

·      Review customer loan applications through various fraud software platforms.

·      Locate, save, and upload documents into case management system (FRAML): account agreements, loan documents, check copies, IP address results, affidavits, collection letters, surveillance, etc.

·     Obtains necessary information concerning fraudulent claims so cases can be properly investigated. Locate surveillance and review recorded calls to support investigations. Place calls to gather information from branches, lending departments, and members regarding fraud or identity theft.

·     Recognize fraud patterns and suggest effective fraud detention and prevent strategies to mitigate fraud losses while ensuring an appropriate balance between risk and member experience. Receives and reviews all compromised account listings.

·    Review fraud losses and trends and makes recommendations to management concerning adjustments of the parameters of the fraud detection systems including Verafin.

·      Reviews and investigates alerts on credit union fraud detection systems and takes appropriate action to resolve, prevent, or mitigate losses to the credit union, refer to third parties, complete investigative reports of suspicious activity and ensure continued monitoring.

·   Collaborate with cross-functional teams, business units, and employees to implement strategies that enhance fraud prevention measures to ensure appropriate actions are taken to mitigate losses and loss exposure and reduce transactional risk (i.e. JIRA)

·    Assist with testing, validation, and monitoring of any fraud detection and monitoring systems used by the credit union to deter or minimize risk and maximize recovery.

·     Efficiently and effectively resolve cases or alerts with awareness of all timelines including responding to subpoena requests from law enforcement.

·   Assist in the preparation of monthly reports to illustrate current and past fraud trends, including analytical data, presentations, spreadsheets, graphs, and tables. 

·   Assist in the creation of investigation cases and prepare a detailed transactional and financial analysis summarizing fraudulent activity, gather documentation and log all suspected fraud events.  Identify and document lessons learned and solutions to mitigate further potential fraud exposure at the conclusion of the investigation of each fraud event.

·    Interview members, victims, witnesses, merchants, other financial institutions, employees, or suspects to establish details of the fraud incident to be documented.

·   Assist by recommending actions related to the account, member, and loan relationship, such as authentication, closure, heighted account monitoring, limitation of services, or other similar action.

·    Assist in training credit union employees as needed, in-person and through other forms of media.

·   Participate in fraud prevention programs in-house or with external organizations and stay up-to-date on current fraud trends and activities.  Keep the management informed of current and pending laws and regulations, trends, potential risks associated with fraud, and strategies to improve fraud prevention.  Send a written 1-page memo within 5 days to management after attending any fraud trainings or meetings.

        ·   Act as a liaison with law enforcement (federal, state, and local) and social service agencies by providing detailed information, attend court hearings as needed and pursue prosecution/restitution as appropriate including prepare case referrals and follow up investigations. (subpoena and NPI requests)

·  Assists where appropriate including responding to and investigating proven Red Flags incidents to mitigate loss to the credit union and initiate appropriate legal action as warranted.

·  Assist in maintaining the General Ledger accounts for the fraud/financial crime area and clear all items according to the policy (90 days or before).

·  Responds to emails, phone calls, and voice mails from branches, investigators, and staff.

·  Assists as needed with duties of BSA/AML Analyst

·  Other duties as assigned.

SUPERVISORY RESPONSIBILITIES:

None.

PERFORMANCE STANDARDS:

Develops a monthly, quarterly and annual schedule for conducting and implementing the fraud program and reporting as stated above. 

Display excellent written and verbal communication skills when interacting with senior management, the Board of Directors, the Supervisory Committee, all personnel, members, auditors and examiners.  Maintain professional composure, objectivity and fairness when dealing with conflicts and sensitive matters.  Display attention to detail, ability to multi-task and meet established deadlines.  Exhibit sound judgment, critical thinking and problem-solving skills.  Maintain collaborative relationships with all departments.  Demonstrate professional care and the highest standards of professional competency.  Support a strong sense of teamwork and commitment to helping and serving others.

All candidates should be:

·      Receptive to change – is flexible. Seeks and adopts improved approaches and processes.

·    Initiates action – is results oriented, takes responsibility for actions and outcomes. Meets commitments and strives for high performance.

·    Manages the workload - makes timely decisions, prioritizes effectively, solves problems, monitors results and takes remedial action where necessary.

·       Technically proficient – knows role and has a solid familiarity with tasks and responsibilities.

·     Takes responsibility for own learning - knows personal strengths and recognizes development needs. Is open to feedback and always seeks to learn.

·      Communicates ideas – strong facilitation and written communication, proposes a way forward. Listens to views of colleagues and takes on diverse perspectives.

·      Works collaboratively – shares information, fosters teamwork and contributes to a positive work environment where people want to come to work.

·     Display ethical character and competence - acts with integrity and intent, is accountable for own actions, behaves according to the company values.

·       Act as a good citizen of the company.

QUALIFICATION REQUIREMENTS:

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.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Ability to learn and perform processes in order to meet the spirit and letter of the procedures, policies and regulations that govern the department.

Strong investigative, analytical, and critical thinking skills. Strong work prioritization and time management skills.

Ability to learn additional systems as needed and the ability to self-motivate and strive for improvement both in yourself and those around you.

Regulatory Requirements:  Your position has specific procedures that must be followed to comply with Privacy Act, Office of Foreign Assets Control (“OFAC”), and Bank Secrecy Act and USA Patriot Act. You will receive annual training to keep you current on any changes to these policies/procedures to assure compliance.  Failure to comply with procedures may cause termination of your position as well as possible monetary penalties from the federal regulatory agency.

Comply in all instances with all laws and regulations, including but not limited to Regulation E and the Electronic Funds Transfer Act and all privacy laws and regulations.

EDUCATION and/or EXPERIENCE:

High school diploma; and a minimum of three (3) years related experience and/or training; or equivalent combination of education and experience.

Minimum of two (2) years of prior financial institution experience.

General knowledge and understanding of bank deposit operations, lending activities, and other consumer banking functions. 

CERTIFICATES, LICENSES, REGISTRATIONS:

Fraud certifications preferred (Certificate, CFCI, CFCs etc.). Designation will be obtained within 3 years from date of hire if certification not already held.

LANGUAGE SKILLS:

Ability to read, analyze, and interpret and communicate regulatory information and technical procedures relating to a credit union operation.  Ability to write reports, business correspondence, and procedure manuals.  Ability to effectively present information and respond to questions from groups of managers, directors, employees, and members as required.

MATHEMATICAL SKILLS:

Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages.  Ability to apply concepts of basic algebra and geometry.

REASONING ABILITY:

Ability to define problems, collect data, establish facts, and draw valid conclusions.  Ability to interpret an extensive variety of regulatory and technical instructions in several abstract and concrete variables.

OTHER SKILLS and ABILITIES:

Ability to operate a PC to access the credit union's accounting system, member account information, spreadsheets, and on-line is required.  Basic input, output, error correction, general ledger account structure knowledge essential to be able to perform the job is required.

Basic proficiency in Microsoft Office (Work, Excel, Power Point and Outlook) is required. Annually complete and achieve passing scores on various SAFE FCU Policy, Procedure, Development and Enhancement Curriculum.

PHYSICAL DEMANDS:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to talk or hear.  The employee frequently is required to use hands to finger, handle, or feel objects, tools, or controls.  The employee is occasionally required to stand; walk; reach with hands and arms; climb or balance; and stoop, kneel, crouch, or crawl.

Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.  Occasionally lift/and or move up to 35 pounds. 

WORK ENVIRONMENT:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The noise level in the work environment is usually low to moderate.

MENTAL DEMANDS:

The mental characteristics necessary to competently perform this job include the need to occasionally use basic and complex numeric calculations, persuasiveness, and creativity; to frequently use resourcefulness, and problem solving; and to continuously use analyzing skills