Fraud Claims Analyst

Flagstar Bank•Troy, AL

3d•$21 - $34

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, and identifying 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 adheres to regulatory requirements and internal processing standards. The analyst independently handles inclearing check fraud claims, deposited check disputes, and Return Deposited Item investigations, as well as Treasury reclamations and identity-theft claims. The role includes investigating recovery potential, preparing claim and recovery documentation, coordinating with internal and external stakeholders, making sound claim and escalation decisions, and maintaining accurate operational metrics. The position also requires compliance with applicable laws, regulations, and company policies.

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.
Moderate-to-advanced computer skills in Microsoft Office Suite, including Word, Excel, Outlook, and PowerPoint.
Strong verbal communication skills, including the ability to ask pertinent questions and demand escalation when needed.
Strong written communication skills.
Ability to identify high-risk or time-sensitive cases requiring immediate action.
Strong problem-solving skills and a proactive, solution-oriented approach.
Ability to manage multiple claims simultaneously without sacrificing accuracy.
Understanding of the importance of confidentiality and professionalism.
Attention to detail.
Ability to build and maintain effective relationships with stakeholders 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 (four 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 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.
Use sound judgment to determine whether to submit claims to external financial institutions or escalate them to management for payout approval.
Investigate and resolve identity theft claims, including removal of ChexSystems inquiries, and refer 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 supporting materials required for claim resolution.
Communicate with customers, internal departments, branch personnel, the Federal Reserve Bank, and law enforcement agencies to support investigations and claims 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 daily metrics for claims received, charge-offs completed, and post-charge-off recoveries.
Use independent judgment and discretion to make decisions.
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.