Fraud Investigator

Live Oak Banking • Wilmington, NC

7d

About The Position

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 Live Oak Bank and its customers. The role works closely with Customer Success, Deposit Operations, Compliance officers, and other internal teams to mitigate risk. It includes investigating activity across deposit accounts, loans, electronic transactions, wire transfers, checks, and other banking products; coordinating with law enforcement and financial institutions when necessary; and supporting fraud strategies and models. The position also requires maintaining regulatory awareness and preparing and submitting Suspicious Activity Reports (SARs) in compliance with FinCEN regulations.

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 in 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 taken in a timely and accurate manner.
• Open cases in the established case management system and include records as defined by management.
• Conduct thorough investigations related to deposit accounts, loans, electronic transactions, wire transfers, check fraud, and other banking products.
• Review system-generated alerts to identify fraudulent activity involving ACH, debit and credit cards, wires, digital banking, account openings, and other payment mechanisms.
• Determine actions needed to protect the Bank’s assets and consult management on more 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 transaction and account activity for potentially fraudulent activity, including identity theft, account takeover, ACH, check, wire, loan, and other identified risks.
• Communicate professionally with customers, financial institutions, and Bank personnel to resolve problems or request information and documentation supporting decisions about suspected fraud.
• Prepare and submit SARs in compliance with FinCEN regulations.
• Remain current on national and global fraud trends and incorporate relevant information into daily activities.
• Work with Fraud Analytics to monitor existing fraud models and strategies and ensure they meet false-positive and detection-rate criteria.
• Explain variances and recommend remedial actions.
• Assist with implementing new fraud strategies to mitigate losses associated with online banking activity.
• Maintain regulatory awareness, including BSA, AML, CIP, and OFAC.
• Collaborate with Customer Success, Deposit Operations, Compliance officers, and other internal teams to mitigate risk.

Benefits

• Paid sick leave at least meeting applicable state minimum requirements.
• Annual bonuses and long-term incentives may be part of compensation, subject to metrics and company policy.

What This Job Offers

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