Fraud Analyst I

Job Description: PRIMARY FUNCTION: Conducts detailed analysis and research to minimize losses and ensure regulatory compliance. Conducts research, makes copies, prepares word documents and spreadsheets to assist investigators. Performs duties to ensure VACU compliance with applicable regulations. Provides technical, research, and administrative support for fraud investigations. Assists investigators and management with tracking and reporting of data relating to investigations and non-compliance incidents. DUTIES AND RESPONSIBILITIES: · Analyzes data from multiple systems and reports to identify account, transactional, and identity theft risk. Determines risk type, potential for loss to be realized, and actions needed to avert the loss and comply with applicable regulations. Takes appropriate action to avert or minimize loss and compliance risk. Refers suspected fraudulent activity to investigators. · Researches and investigates losses related to lower dollar fraud claims; plastic card losses and claims; identity theft, and return deposited items. · Effectively utilizes technology resources to review information, manage cases/alerts, gather data, and make informed decisions · Conducts research for case investigations to include obtaining document copies, conducting web research, making phone inquiries, entering cases into database, filing insurance claims, and preparing warrants. · Makes complex decisions regarding case and account closure situations · Reports closures, identity theft, losses and recoveries to appropriate consumer reporting agencies. · Maintains knowledge and awareness of all FACTA, BSA and OFAC regulations and how they impact fraud analysis and regulatory compliance. Reports all potential BSA violations and transactions discovered during report analysis and/or research to the BSA Investigator. Reports all potential FACTA violations and suspect transactions to the fraud investigator. · Conducts research to support FACTA, BSA, OFAC, and USA PATRIOT Act investigations. Assists Investigators in gathering information and writing SAR narratives. · Serves as a point of contact for employees and members with general questions or concerns about fraud and identity theft. Receives and researches incident referrals from VACU staff. Reports potential fraud to investigators. · Receives large transaction reports from service center locations; researches and effects appropriate account action. Refers suspicious activity to investigators. · Completes all required FACTA, BSA and OFAC training. · Communicates to management, in a timely manner, on all situations being handled, especially those that may result in a loss or compliance risk to the Credit Union. · Consistently provides Quality Service to members and co-workers. · Keeps all Credit Union transactions in strict confidence. · Maintains a good working relationship with employees at all levels. · Comply with all published enterprise level policies and procedures including, but not limited to, Risk Management policies. · Complete all required, ongoing enterprise level training including, but not limited to BSA, OFAC, and Information Security. · Report all Risk Management Policy violations in accordance with policy. · Performs other duties as assigned. Job Qualifications: Knowledge: Knowledge of financial transactions and banking/credit union regulations is required. Skills: Strong PC skills are required, including proficiency in MS Word and Excel. Good communication skills required, including the ability to compose and edit professional and effective letters and other written correspondence. Demonstrated teamwork skills. Abilities: Demonstrated ability to make decisions with limited information and analyze transactions and account relationships to assess risk level is required. Demonstrated ability to multi-task, work independently, and work under time constraints is required. Ability to independently exercise good judgment and analytical skills under pressure is required. Ability to effectively and professionally interact with all levels of employees and members is required. High degree of integrity and respect for confidentiality and privacy of information. Detail oriented and well organized with the ability to be flexible and work independently required. Minimum Education and Experience: High school graduate with some college preferred. Knowledge of bank or credit union operations, including transaction processing required. Experience in retail or back office bank/credit union operations required. Physical Requirements: This job requires the ability to sit for long periods of time. This job requires infrequent lifting or carrying of objects up to 10 pounds. We’re proud of the opportunities, training, benefits and work-life balance we provide to those who help people take their money further, and reach their goals sooner. We strive to provide a culture where employee development, teamwork, integrity, respect and quality of life are the cornerstones of delivering superior member experience. We thank our employees for making us a part of our community’s "Top Workplaces" and are always looking to add people to our team who share our passion for helping members build their finances and confidence. In return, we offer employees a challenging and rewarding work environment and are committed to maintaining an atmosphere that promotes teamwork and continual improvement. Virginia Credit Union is an Equal Opportunity Employer.