Fraud Operations Specialist

MERIWEST CREDIT UNION•San Jose, CA

8h•$35 - $44•Onsite

About The Position

The Fraud Operations Specialist will be responsible for identifying circumstances of suspected fraud and make recommendations about the case(s). The purpose and focus of this position is to identify and mitigate fraud. Operational fraud includes but is not limited to, cases related to electronic/cyber systems, new accounts, identity theft, account takeover, check forgery, wire fraud, ACH transfers originated through Meriwest’s online banking, A2A/P2P transfers, Bill Payments and assists with debit/ATM card fraud investigations. Must analyze various reports and work alerts in different systems to identify and mitigate potential fraudulent activity on accounts. This position works under general supervision and is responsible for identifying fraudulent activity and trends at an early stage to minimize losses. May work late shifts, weekends, and some holidays following a fraud trend and must be able to work unsupervised. The Fraud Operations Specialist must: · Be comfortable communicating with customers. · Be able to navigate multiple technologies while staying engaged with our customers. · Demonstrate resiliency and extreme adaptability in a fast-paced environment. · Possess strong customer focus with the ability to have detailed conversations with our customers. · Take ownership of each customer interaction while treating the customer(s) with respect and responding with empathy. · Demonstrate personal excellence including punctuality, integrity, and accountability. · Approach problems logically and with good judgment to ensure the appropriate customer outcome. · Make appropriate decisions on behalf of our customers quickly and effectively. · Effectively prioritize work to ensure efficiency. · Abide by all applicable regulatory and department practices and procedures. · Have the ability to work independently and in a team environment. · Be able to think critically and exercise independent judgement – as assigned. The Fraud Operations Specialist may perform many of the following tasks: · Reviewing alerts through different fraud alert platforms and/or through deposit channels such as ATM and mobile deposit to identify potential fraudulent deposits. · Interviewing victims and/or suspects, in the course of the investigation. · Recommending actions in the fraud case(s). · Filing reports with law enforcement · Filing SARs when applicable and ensuring compliance with BSA requirements in accordance with regulatory deadlines. · Filing Elder Abuse cases as applicable · Provide training to staff and members on fraud trends and prevention

Requirements

Experience with analyzing fraud trends, fraud detection and prevention a plus.
One to Two years of similar or related experience, including preparatory experience - preferable financial institution.
Knowledge of wire processes, check workflow, ACH, card transactions, new accounts authentication, Elder Abuse Prevention, SAR Filing and Regulation E.
Knowledge of and ability to utilize processes, tools, and techniques for detecting, addressing and preventing fraudulent situations.
Communicate in a professional manner with members, merchants, financial institutions and other internal departments when working on investigations and research.
Knowledgeable in BSA practices and familiar with filing Suspicious Activity Reports.
Possess excellent written and verbal communications skills.
Must be analytical and possess excellent communication skills, both written and verbal.
Must be able to manage additional projects and responsibilities as assigned.
Prioritize and successfully manage multiple tasks and deadlines
Analyze situations and recommend workable solutions
Have high attention to details.
Think strategically.
Possess oral presentation skills.
Possess organizational skills.
Be assertive.
Have knowledge on how to collect and preserve information.
Be ethical.
Must be able to maintain confidentiality.
Professional phone demeanor and attention to detail required.
Must be PC literate in Word, Excel (or equivalent) and Windows.

Responsibilities

Acts as the primary contact for reported or suspected fraud for the organization.
Acts as the primary user of the fraud detection/mitigation program for the department.
Conducts investigations of suspected, alleged, or known internal and /or external fraudulent activity to ensure minimal loss to the organization.
Works with other departments to file elder abuse cases.
Files Suspicious Activity Reports (SARs) in accordance to policies and procedures.
Reviews established fraud detection system-generated alerts and reports to identify fraudulent activity related to ACH, wire, check fraud (ATM, mRDC, teller capture, etc.), online banking, account opening, and other operational areas as needed.
Determine the validity and action required based on established procedures to protect the credit union prevent losses.
Assists other departments with fraud trends and member inquiries to complete investigations when applicable.
Provide support for card disputes and with addressing suspected frivolous claims.
Coordinates training internally or with external entities to provide staff and member education.
Prepare monthly reporting and/or presentations for Committees as assigned.
Prepares cases for trial or legal actions.
Coordinates with appropriate law enforcement agencies to identify and facilitate the arrest and prosecution of the person(s) perpetuating fraud against the organization.
Files police reports when needed.
Reviews and updates assigned policies and procedures.
Responsible for developing procedures as needed