Fraud Analyst

Freedom Credit Union•Springfield, MA

just now•$24 - $36•Onsite

About The Position

Provide support to the Compliance Manager in order to ensure compliance of Credit Union policies and procedures with all related laws and regulations applicable to the Credit Union. Conduct thorough analyses of transactional activity for the detection of fraudulent activity on members’ accounts. Aid the operational stakeholders in the detection and prevention of fraudulent activity. Communicate with members regarding potential fraud and steps they may wish to take to remedy. Effectively collaborate with all Credit Union departments. This position is also a back-up to other compliance positions, in the department.

Requirements

At least 5 years of experience in the financial industry required; a viable combination of experience and education will be considered
Associates degree or higher in business, criminal justice, or a related field required
Ability to work effectively with others at all levels across the organization and skills in effective professional oral and written communication
The ability to obtain Credit Union-specific compliance certification
Working knowledge of Federal and State laws and regulations related to consumer banking
Excellent attention to detail
Ability to perform mathematical functions and computations
Skills in analyzing, interpreting and preparing statistical data
Proficient in Microsoft Office, general computer programs and general office equipment
Advanced research and problem-solving skills
Ability to work under minimal supervision
Ability to receive and maintain confidential information

Nice To Haves

Knowledge of TrueVision Navigator software

Responsibilities

Identify patterns and make analytical recommendations to leadership
Make recommendations to management to restrict or close accounts based on investigations
Assist in the development and implementation policies procedures and to detect and prevent fraudulent activity
Investigate assigned work queues to determine risk potential based on established fraud trends and internal procedures
Review suspicious online accounts and documentation submitted for new accounts and loans for potential fraud
Work closely with branches and other departments to identify data-driven fraud and security solutions across the entire Credit Union, including member deposits, ACH/wire, bill pay, online banking, mobile, claims etc.
Educates credit union employees to identify and respond to potential fraud trends and situations
Work as a liaison with law enforcement agencies in conducting fraud investigations to file police reports on half of the Credit Union
Participate in monthly Security & Loss Prevention Association meetings and be an “active” participant in the sharing security and fraud alerts.
Perform daily reviews of transaction activities for “high risk” accounts including new accounts
Conduct investigations of fraud cases
Creates a report and distributes monthly to the Compliance Manager and the Security Officer (internal) that illustrates activities and findings from investigations
Perform in-depth account investigation and analysis and effectively analyze, compile, organize and interpret data from multiple investigation sources
In-depth knowledge of and ability to utilize Verafin. Performs CDD, KYM, and EDD reviews as needed
Reviews daily and weekly BSA/AML alerts and disposition thereof
Performs high risk, medium risk, NGO, and MSB reviews, as needed
Responsible for reviewing BSA, AML, OFAC, Fraud, and ID theft news releases daily