Fraud Analyst
About The Position
Oklahoma's Credit Union (OKCU) is seeking a Fraud Analyst to join their team. This role involves making timely decisions to protect accounts and reduce risk, adapting to changing trends, and maintaining accuracy under pressure. The Fraud Analyst will monitor fraud alerts, conduct investigations into suspicious activities like fraud or money laundering, and develop reporting processes for staff. This position requires collaboration with Operations and Risk Management, documentation of investigations, and acting as a liaison with law enforcement. The role also involves preparing court evidence, testifying in court, and generating monthly reports for management on fraudulent activities, losses, and recoveries. Additionally, the Fraud Analyst will support card dispute processing, recommend fraud mitigation strategies, and coordinate with the training department on fraud prevention. The position requires adherence to credit union bylaws, regulations, and policies, as well as participation in required training.
Requirements
- Bachelor's degree in Accounting, Finance, or three to five years similar or related experience required.
- Certified Fraud Examiner (CFE) credential preferred.
- Financial institution experience is preferred but not required.
- Bi-lingual in English and Spanish is a plus.
Nice To Haves
- Certified Fraud Examiner (CFE) credential
- Financial institution experience
- Bi-lingual in English and Spanish
Responsibilities
- Make timely, well-informed decisions to protect accounts and reduce potential risk or loss.
- Adapt effectively to changing risks, emerging trends, and shifting organizational priorities.
- Maintain focus and accuracy during periods of increased workload or changing business demands.
- Conducts daily monitoring of Fraud Alerts through Verafin and take appropriate actions as needed, ensuring compliance with Identify Theft and Red Flag rules.
- Conducts in-depth investigations of evidence and/or allegations of suspicious activity such as fraud or money laundering, to ensure minimal loss to OKCU and its members.
- Develops and maintains a systematic process for staff to report suspected fraud to Risk Management.
- Collaborates and coordinates with Operations and Risk Management departments to assist with questions or guidance pertaining to fraud related items.
- Documents all investigative activities and prepares written reports of findings.
- Acts as a Liaison to local, state and federal law enforcement agencies concerning investigative efforts.
- Prepares court evidence for presentation; testifies in court concerning the findings of investigations as required.
- Prepares and maintains monthly reports for management, indicating status updates of current investigations, losses and recoveries pertaining to fraudulent activities.
- Serves as backup for card dispute intake and processing.
- Supports the credit and debit card dispute process by recommending steps to mitigate fraud and reduce potential losses.
- Coordinates with training department on fraud detection and prevention activities and training, providing advice on methods and best practices.
- Performs job duties within our bylaws, regulations, Board of Directors’ policies, established internal and external service standards and our work procedures.
- Attends and participates in Credit Union training meetings, seminars, or other sessions as required, in‑house or off-site.
- Performs other related duties as assigned.
Benefits
- Employee medical coverage 90% paid by OKCU
- Employee dental, vision and life insurance paid by OKCU
- Tuition reimbursement program
- 401(k) contribution match of up to 3%
- Additional profit-sharing match of 3%
- Volunteer opportunities to serve the community
- Gym membership reimbursement
- Comprehensive training opportunities
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
