Card Fraud Analyst

PSECU•State College, PA

11d•Hybrid

About The Position

Card Fraud analysts in the Plastic Card Fraud Unit are cross trained to utilize fraud systems and databases for the detection and prevention of ATM and Visa card fraud. Fraud alerts and suspicious transaction activity are reviewed and investigated daily. Investigation of account activity requires accurate compilation and documentation of facts as information is exchanged between members, retail merchants, and other internal and external parties. Fraud Analysts will work to achieve four primary business unit objectives: Financial Objective: Minimize fraud loss to members and PSECU; Member Objective: Minimize interruption of card services to members; Process Objective: Fast detection of fraud and consistent application of fraud procedures; Learning and Growth Objective: Maintain the education requirements of the business unit to improve fraud recognition skills, contribute to the improvement of fraud prevention strategies, and to educate members about fraud detection tools available through PSECU’s self-service channels.

Requirements

High School (Required)
Any equivalent combination of experience and education.

Responsibilities

Reviews fraud alerts and reports generated by computer software (neural networks) and proprietary databases designed to detect fraud.
Evaluates account activity to validate fraud and implements decisions, to include but not limited to, restriction of card services, application of fund holds, and suspension of account access to minimize interruption of service and fraud loss to members and PSECU.
Investigates member transaction disputes originating from lost and stolen cards or fraudulent activity.
Documents the history of events within the account activity to establish a timeline around when fraud is occurring.
Communicates backlogs in workflow, changes in fraud patterns, and/or processing inefficiencies to management, and recommends modification of fraud prevention strategies/policies/procedures.
Continued education to keep up to date with new fraud trends in the cards industry.
Assist in the testing of reports that provide the measurement of workflow.
Provide assistance in cross training peers within the scope of the role.
Maintains required knowledge of PSECU bylaws, policies, and internal practices as they relate to the role.
Must have Regulation E, Regulation Z, and Visa/Debit Network operation rules knowledge as they relate to card fraud and cardholder dispute.
Communicates verbally and in writing with members, merchants, and other third parties to validate authenticity of check deposits, availability of funds, transaction activity, or to obtain relevant evidentiary matter for submission to the appropriate authorities.
Communicates with merchants regarding known fraud and negotiates the cancellation of pending sales, gift cards, or shipment of merchandise.
Communicates verbally and in writing with internal business units to effectively meet member needs.
Reviews daily reports and email inboxes.
Process incoming mail to the unit.
Provides backup support for other skills within the dispute’s units.
Other duties as assigned.