Deposit Fraud EFT Specialist

Cathay Bank•Rosemead, CA

7d•$22 - $26

About The Position

The Deposit Fraud EFT (Electronic Funds Transfer) Specialist is responsible for monitoring, investigating, and mitigating fraudulent activities related to electronic transactions, check deposits, and deposit accounts. They ensure compliance with financial regulations such as Regulation E and Regulation CC, protecting both the financial institution and its clients from potential financial losses. The specialist processes ACH (Automated Clearing House), ATM debit card transactions, and EFT claims and dispute requests in accordance with the requirements of Regulation E, Visa, and other ACH operating rules or regulations. Additionally, they provide support to both internal and external clients concerning card transactions and PIN issues, which include handling cases of rejected or blocked cards as well as lost or stolen cards.The specialist performs fraud detection and monitoring, investigation and analysis, EFT and dispute processing, loss mitigation, regulatory compliance, client interaction, documentation and reporting, as outlined in the essential functions.

Requirements

College degree or equivalent banking experience in a related field preferred.
Minimum three years of experience in fraud investigations, deposit operations, or electronic banking.
Ability to work efficiently and independently with a high level of productivity.
Strong analytical, investigative, and research techniques, and ability to identify patterns, anomalies, and potential risks.
In-depth knowledge of Regulation E, EMV, Visa, and ACH Operating Rules.
Strong verbal and written communication skills, and the ability to communicate effectively with internal and external clients and contacts.
General knowledge of various computer software applications, including Word and Excel.
Proficiency in banking software (e.g., Verafin, FIS, Q2) and Microsoft Office Suite.
Excellent written and verbal communication skills for dealing with clients and law enforcement

Responsibilities

Review daily reports for suspicious activity, including account takeover, identity theft, and unauthorized ACH or wire transfers.
Analyze transaction patterns, review account histories, and gather evidence to confirm or clear potential fraud cases.
Investigates, tracks, and resolves ATM/Debit card claims and EFT wire transfer claims, including posting of monetary entries.
Handle debit card, ACH, and ATM disputes, including processing chargebacks, representments, and issuing provisional credits.
Implement holds on accounts, stop payments, and freeze accounts to prevent further losses.
Completes claims in accordance with Regulation E, EMV, Visa, and ACH operating rules, EFT rules, and established Bank policy and procedures.
Ensure all actions comply with the Bank Secrecy Act (BSA), Regulation E (Electronic Fund Transfers), and Regulation CC (Availability of Funds).
Maintains current knowledge of governing rules and regulations related to card operations and claims.
Contact clients to verify transactions and assist victims of fraud with account recovery.
Maintain detailed investigative notes and prepare reports for management or law enforcement.
Assists with related projects or other functions as assigned.