Fraud Claims Analyst

Flagstar Bank • Hicksville, NY

2d • Onsite

About The Position

The Fraud Claims Analyst is responsible for fraud detection and analysis, claims management, regulatory and compliance risk, and collaboration and communication. The role analyzes suspicious activity across consumer, commercial, and small-business check processing by reviewing account details, check images, signatures, endorsements, and customer behavior. It identifies anomalous patterns and potential fraud using velocity and value analysis. The analyst assesses and validates fraud claims from customers and other financial institutions, reviews supporting evidence, determines claim legitimacy, processes multiple claims accurately and on time, and follows regulatory requirements and internal processing standards.

The position independently manages check-fraud claims and investigations, including inclearing check fraud claims, deposited check disputes, Return Deposited Item investigations, Treasury reclamations, and identity theft claims. It involves working with customers, internal teams, other financial institutions, the Federal Reserve Bank, law enforcement, and other stakeholders. The analyst prepares claim and recovery documentation, manages related posting and charge-off records, maintains daily operational metrics, and escalates significant, unusual, or high-risk matters as needed. The role requires independent judgment and discretion, problem-solving, compliance with applicable laws and policies, and completion of required compliance training.

Requirements

• High school diploma or equivalent (GED, HiSET, TASC, or foreign equivalent).
• At least 2 years of experience investigating check fraud.
• Knowledge of check stock, endorsements, image analysis, and Treasury reclamation processes.
• Experience in fraud detection and escalation.
• Knowledge of ChexSystems, Fiserv DNA, Nautilus, and FCRM.
• Computer literacy with moderate-to-advanced skills in Microsoft Office Suite, including Word, Excel, Outlook, and PowerPoint.
• Strong verbal skills and ability to ask pertinent questions and demand escalation when needed.
• Strong written communication skills.
• Ability to identify high-risk or time-sensitive cases for immediate action.
• Strong problem-solving skills; proactive and solution-oriented.
• Ability to manage multiple claims simultaneously without sacrificing accuracy.
• Understanding of confidentiality and professionalism.
• Detail-oriented.
• Ability to build and maintain effective stakeholder relationships through clear communication, proactive collaboration, and cross-functional insights.
• Ability to build trusted internal or external client relationships by identifying needs and delivering tailored solutions.
• Ability to support a positive work culture and productive work environment.
• No unusual physical exertion is involved.

Nice To Haves

• Undergraduate degree (4 years or equivalent).

Responsibilities

• Escalate significant or unusual loss events to management promptly.
• Handle Check Fraud Treasury Reclamations from the U.S. Department of the Treasury.
• Investigate account activity to determine fund depletion and recovery potential.
• Prepare documentation, including indemnity agreements, for fund recovery efforts.
• Work with internal teams, financial institutions, the Federal Reserve Bank, and law enforcement.
• Coordinate with the Corporate Security Department when necessary.
• Respond professionally to inquiries from claimants and stakeholders.
• Independently manage end-to-end handling of inclearing check fraud claims, deposited check disputes, and Return Deposited Item investigations.
• Ensure actions comply with regulatory requirements and escalate cases involving potential regulatory, reputational, or financial risks.
• Determine whether to submit claims to external financial institutions or escalate cases to management for payout approval.
• Investigate and resolve identity theft claims, including removing ChexSystems inquiries and referring related Online Banking applications to the Online Banking team.
• Evaluate and respond to fraud incidents assigned to the department, ensuring timely and accurate resolution.
• Prepare customer correspondence, indemnity agreements, and other materials required for claim resolution.
• Communicate with customers, internal departments, branch personnel, the Federal Reserve Bank, and law enforcement agencies to support investigations and claim processing.
• Prepare charge-off forms with supporting justification for approval.
• Create posting sheets and prepare debit and credit entries related to reclamation funds, customer credits, and approved charge-offs.
• Maintain accurate daily metrics for claims received, charge-offs completed, and post-charge-off recoveries.
• Use independent judgment and discretion to make decisions and analyze and resolve problems.
• Perform special projects and additional duties and responsibilities as required.
• Adhere to regulatory and compliance policies and standards, complete required compliance training, and maintain compliance with applicable federal, state, and local laws and regulations.

Benefits

• Medical insurance
• Dental insurance
• Vision insurance
• Life insurance
• Disability insurance
• Comprehensive leave program
• Variable incentives, bonuses, commissions, or other awards may be included in total compensation as outlined in the offer of employment.

What This Job Offers

• Job Type: Full-time
• Education Level: High school or GED