Fraud Specialist

Overview

Position Summary:

The Fraud Specialist will be responsible for assisting in the investigation of fraud cases involving use of electronic/cyber systems, debit and credit cards, checks, new accounts, account abuse, elder financial exploitation and identity theft.  Analyzes various reports to identify and mitigate potential fraudulent actions on customer accounts. 

Responsibilities

Major Duties & Responsibilities:

• Handles all fraud claims (fraud affidavits) made by customers, questioning customers to gather information, working with law enforcement and bank vendors, coordinating issuance of provisional credit by the bank’s accounting department when justified, assists branch personnel in completing required affidavit forms. Monitors outstanding requests against timeline requirements for provisional credit or completion of investigation.
• Reviews and investigates fraud alerts and various fraud prevention reports to monitor unusual customer account behavior, contacting customers when necessary, and changing customer access status to ATM/debit cards or online banking. 
• Track monetary fraud exposure for each case assigned, including but not limited to potential loss, prevented loss, actual loss, and recovered loss; prepares reports as necessary to provide departmental management with accurate records of fraudulent activity and actions taken to control potential losses. Generate correspondence to the branch network and back-office departments regarding fraud patterns and trends; develops and maintains fraud prevention training resources for bank staff and customers.
• Maintains favorable customer relations with law enforcement and judicial agency personnel through regular contact; support law enforcement investigations by providing subpoenaed records; maintains relationships with local, regional, and national financial security organizations and attend meetings as needed. 
• With supervisor’s assistance, exercises discretionary judgment and initiative regarding escalation of fraud claims, ensuring cases are handled and documented according to bank policies and procedures. Develop Suspicious Activity Reports (SARs) for identified suspicious activity. 

Qualifications

Education & Experience:

• Bachelor’s degree preferred or equivalent combination of coursework and work experience.
• Minimum 3 years banking experience in banking operations and new accounts.
• Knowledge of current Federal regulations including but not limited to Uniform Commercial Code (UCC), Reg. E, and Reg. CC.

Knowledge, Skills, & Abilities:

• Strong PC and Internet skills. Proficient in Microsoft Office programs.
• Ability to communicate at all levels. Good verbal, written and listening communication skills.
• Good Analytical skills.
• Well organized and detail oriented.
• Able to work independently with limited direction from Supervisor as well as within a team environment.

ADA Requirements

Physical Requirements

Perform primarily sedentary work with limited physical exertion and occasional lifting of up to 20 lbs. Must be capable of climbing / descending stairs in emergency situation. Must be able to operate routine office equipment including telephone, copier, facsimile, and calculator. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours whenever required or requested by management. Must be capable of travel by automobile (as driver and passenger), commercial airlines, rental vehicles and public transportation and be able to lodge in public facilities. Must be capable of regular, reliable and timely attendance.

Working Conditions

Must be able to routinely perform work indoors in climate-controlled private office with minimal noise.

Mental and/or Emotional Requirements

Must be able to perform job functions independently and work effectively either on own or as part of a team. Must be able to plan and direct the work activities of self and others. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be able to perform basic mathematical calculations with extreme accuracy. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.

As an Equal Opportunity / Affirmative Action Employer, Walden Savings Bank will not discriminate in its employment practices due to an applicant’s race, color, creed, religion, sex (including pregnancy, childbirth or related medical conditions), sexual orientation, gender identity or expression, transgender status, age, national origin, marital status, citizenship, physical and mental disability, criminal record, genetic information, predisposition or carrier status, status with respect to receiving public assistance, domestic violence victim status, a disabled, special, recently separated, active duty wartime, campaign badge, Armed Forces service medal veteran, or any other characteristics protected under applicable law. 

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have in