Fraud Investigator

Live Oak Bank • Wilmington, NC

9d • $71,960 - $113,080

About The Position

Live Oak Bank is a digital bank serving small business owners nationwide. The Fraud Investigator conducts comprehensive analyses of suspect reports and fraud alerts, investigates suspicious events through resolution, and takes appropriate action to prevent or minimize losses for the Bank and its customers. The role collaborates closely with Customer Success, Deposit Operations, Compliance officers, law enforcement, financial institutions, and other internal teams to mitigate risk.

Requirements

• 3–5 years of experience in risk management, payment processing, fraud investigation, chargeback representation, or law enforcement.
• Working knowledge of fraud schemes, scams, and fraud systems.
• Knowledge of card processing, payment fraud prevention and detection techniques, and/or online fraud management.
• Excellent PC and technical proficiency with Microsoft Word, Excel, and PowerPoint.
• Strong analytical and problem-solving skills.

Nice To Haves

• Bachelor’s degree.
• Professional certifications such as CAMS or CFE.

Responsibilities

• Track and document actions accurately and promptly, and open cases in the case management system with all records required by management.
• Conduct thorough investigations involving deposit accounts, loans, electronic transactions, wire transfers, check fraud, and other banking products.
• Review system-generated alerts for fraudulent activity involving ACH, debit and credit cards, wires, digital banking, account openings, and other payment mechanisms; determine protective actions and consult management on complex cases.
• Identify potential fraudulent schemes through research and engage law enforcement personnel when appropriate.
• Work with law enforcement and other financial institutions when necessary.
• Monitor consumer transactions and account activity for potential fraud, including identity theft, account takeover, ACH, check, wire, loan, and other identified risks.
• Communicate professionally with customers, financial institutions, and Bank personnel to resolve issues or request information and documentation supporting fraud decisions.
• Prepare and submit SARs in compliance with FinCEN regulations.
• Stay current on national and global fraud trends and incorporate relevant developments into daily work.
• Work with Fraud Analytics to monitor fraud models and strategies and ensure they meet false-positive and detection-rate criteria.
• Explain variances and recommend remedial actions.
• Assist with implementing new strategies to mitigate fraud losses associated with online banking activity.
• Maintain regulatory awareness of BSA, AML, CIP, and OFAC.

Benefits

• Paid sick leave at least at the minimum required in applicable states.
• Annual bonuses and long-term incentives may be included in compensation, subject to metrics and company policy.

What This Job Offers

• Job Type: Full-time
• Education Level: No Education Listed