Fraud Investigator I
About The Position
The primary purpose of this position is to conduct thorough investigations of suspected fraudulent activity and ensuring compliance with the Bank Secrecy Act (BSA). The Fraud Investigator plays a key role in the Credit Union’s fraud prevention and compliance program by identifying, analyzing, and mitigating fraud risk. This position conducts detailed casework, prepares regulatory filings, and collaborates with internal teams, law enforcement, and external agencies to protect the Credit Union and its members from financial crime. This role directly supports the strategic objectives of the Fraud Department by providing timely, accurate, and actionable investigative insights.
Requirements
- A four-year high school degree or equivalent.
- 3-5 years of similar or related experience.
- General knowledge of fraud investigation, risk management, and risk assessment is required.
- Strong understanding of BSA/AML and OFAC regulations and their application in fraud prevention.
- Experience with fraud detection systems and investigative tools.
- Analytical mindset with the ability to detect patterns, assess risk, and communicate findings effectively.
- Commitment to confidentiality, integrity, and regulatory excellence.
- Computer proficient, especially with Microsoft Word and Excel.
- Strong member service, writing, and organizational skills.
- Attention to detail and the ability to work independently.
- Strong investigative, analytical, and critical thinking skills.
- Strong work prioritization and time management skills.
- Ability to maintain current knowledge of the credit union’s changes, processes, and procedures.
Nice To Haves
- Associate’s or Bachelor’s degree in Criminal Justice, Finance, or related field.
- Certified Fraud Examiner (CFE) or Certified Financial Crime Specialist (CFCS).
- 3 or more years of experience in fraud investigation, BSA/AML compliance, or financial crimes analysis.
- Knowledge of financial institutions and products and services offered.
Responsibilities
- Conduct comprehensive investigations into suspected fraudulent activity involving account activity, loans, digital platforms, and payment systems to include the utilization of fraud detection tools to assess risk levels and prioritize investigative efforts.
- Gather and analyze data from multiple channels including core host system, digital banking platforms, surveillance systems, and third-party vendors.
- Analyze transactional data across multiple channels, account activity, and digital footprints to identify patterns indicative of fraudulent activity.
- Review Alerts from fraud detection software and core banking reports assessing severity and taking appropriate investigative actions.
- Work in partnership with the BSA Officer and BSA team to ensure alignment between fraud investigations and regulatory requirements.
- Collaborate with departments across the Credit Union to investigate and resolve fraud cases efficiently and effectively.
- Support and assist with fraud related training programs and awareness campaigns for staff and members, reinforcing a culture of fraud prevention.
- Provide feedback on procedural gaps and training needs identified during investigations.
- Stay current on industry best practices, regulatory updates, and fraud trends through webinars, periodicals, and self-study.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
High school or GED
