Fraud Prevention and Detection Analyst

BOK Financial•Tulsa, OK

1d•Onsite

About The Position

The role of a Fraud Prevention and Detection Analyst is crucial in safeguarding the organization from fraudulent activities, which includes overseeing fraud prevention efforts, identifying threats, and developing countermeasures. The position requires strong analytical skills, collaboration with cross-functional teams, and the ability to enhance fraud prevention policies and guide employees. This opportunity is perfect for someone with a passion for innovation, growth, and teamwork, who also possesses good numerical skills and the ability to learn complex technical information. The Fraud Prevention and Detection Analyst will play a crucial role in protecting the organization from fraudulent activities. Responsibilities include overseeing fraud prevention efforts, identifying emerging threats, and developing effective countermeasures. Analytical skills and collaboration with cross-functional teams will be essential to monitor and detect potential fraud. This position also involves enhancing fraud prevention policies, providing guidance to employees, and staying updated on industry trends.

Requirements

Bachelor's degree in finance, accounting, business administration, or a related field.
Minimum of 2 years of relevant experience in fraud prevention, detection, or investigation within the financial industry.
Strong analytical skills with the ability to interpret complex data sets and identify trends or patterns.
In-depth knowledge of fraud prevention tools, methodologies, and best practices.
Familiarity with regulatory frameworks governing fraud prevention and detection, such as Reg E, Reg CC, identity theft laws, elder abuse regulations, and AML requirements.
Proficiency in using fraud detection software and database query tools.
Excellent problem-solving abilities and meticulous attention to detail.
Strong communication skills, both written and verbal, to effectively collaborate with stakeholders at all levels of the organization.
Ability to work independently and adapt to changing priorities in a fast-paced environment.
Familiarity with financial institution fraud operations including but not limited to new account fraud, card fraud, ACH, A2A, P2P, wire and counterfeit checks.
Knowledge of accounting principles and/or general ledgers.

Nice To Haves

Professional certifications in fraud examination or related fields (e.g., Certified Fraud Examiner, Certified Anti-Money Laundering Specialist) are preferred but not mandatory.

Responsibilities

Thoroughly investigate potential fraud using various tools, systems, and data sources.
Scrutinize both internal and external data to detect fraud-related patterns, trends, and irregularities.
Work with various teams to improve fraud prevention methods.
Oversee and refine current fraud detection systems by pinpointing and executing enhancements.
Stay informed on industry changes, fraud risks, and laws to keep fraud prevention current and effective.
Create comprehensive reports and presentations summarizing fraud incidents, encompassing discoveries, suggestions, and countermeasures.
Help educate employees on recognizing fraud, implementing prevention methods, and following reporting protocols.
Comply with various regulations including Reg E, Reg CC, identity theft laws, elder abuse rules, and anti-money laundering (AML) requirements.
Identify when a Suspicious Activity Report (SAR) is needed and escalate it to the Bank Security Act (BSA) team.
Ensure adherence to customer identification and verification processes as per AML/KYC guidelines.
Identify warning signs and unusual activities associated with identity theft, elder abuse, and money laundering.
Evaluate and reduce the risks related to fraud within regulatory boundaries.
Assist with internal audits and regulatory checks aimed at preventing and detecting fraud.
Work with legal and compliance teams to comply with all relevant laws and regulations.
Maintain precise records and documents pertaining to fraud investigations and reports.