Fraud Analyst

Municipal Credit Union•New York, NY

4d•$66,300 - $75,330

About The Position

The Fraud Analyst is responsible for continuously working towards preventing and mitigating losses to ensure the highest level of loss avoidance and reduction. Act independently with great latitude and is a primary liaison for the department with other channels/departments relating to internal needs/assistance. Work with the VP, Financial Crimes & Intelligence and Risk Management Team to improve investigations, analyses and identify control and procedural issues.

Requirements

Bachelor or Associate degree in Criminal Justice, Business, or Accounting, related field or work experience required
Minimum of 3 years of fraud analysis and investigation experience in the financial industry
Omni- channel experience to include but not limited to ACH, Wire, Check Fraud, Identity Theft, etc.
Basic knowledge and understanding of Federal/State/Local criminal statutes, bank regulatory, and compliance
Flexible hours as required
The ability to maintain confidential information
Proven initiative to be a self-starter and proactive approach
Professional appearance demeanor
Must be able to demonstrate a team mentality
Ability to perform in a high-volume environment and meet deadlines while maintaining exceptional attention to detail
Technologically proficient

Nice To Haves

Industry recognized certifications, (I.e. - CFE, is a plus but not required)
Proficiency in Verafin Monitoring/Case Management (preferred)

Responsibilities

Assess and analyze fraud alerts generated by MCU fraud detection systems, or flagged by internal/external sources, determining the validity of alert based on data, transaction patterns and risk indicators with primary focus on civil and criminal violations of law relating to financial crimes that include, but are not limited to;: Bank Fraud, Check Fraud, Counterfeits, Alterations, Forged Endorsement, Forged Maker, Kitting, New Account Fraud, Loan Fraud, Identity Theft, Returned Deposited Items, ACH Fraud, Wire Fraud, ATM Fraud, ATM Skimming, Jackpotting, Unjust Enrichments, and Other Losses
Evaluate the risk associated with the individual cases and determine appropriate actions such as clearing, escalating, or freezing accounts
Perform Request for Information (RFI) with branch personnel regarding alerts that may require additional information
Perform investigative practices to include but are not limited to; complying with regulatory requirements, compiling documentation and evidence, and developing initial investigative reports in the case management system for further investigation by the appropriate fraud investigator(s)
Ensure accurate case notes and through documentation to support alert decisioning
Ensure compliance with regulations including BSA/AML and Regulation CC
Ensure quality, uniformity and compliance with regulations throughout the MCU footprint and adhere to standard operating procedures for Financial Crimes & Intelligence
Identify new and emerging fraud trends and patterns and report findings to the Fraud Mitigation Manager
Research, evaluate and identify control deficiencies/violations that contribute to fraud, and make recommendations to Fraud Mitigation Manager to enhance controls
Proactively seek to improve operational efficiencies to reduce production hours and mitigate losses
Work collaboratively with other departments to recommend solutions that impact performance, risk, losses and threats to the organization
Ensure appropriate documentation is maintained and available for internal/external audits and legal requests for all work performed
Complete annual BSA/AML, Fraud, and Cyber training requirements
Maintain up to date knowledge of fraud risks, regulatory changes, and industry best practices
Provides support, guidance, and training to Investigative Support Specialist
Perform other related duties as requested and special projects as assigned