Fraud Prevention Investigator

M&T Bank•Bridgeport, CT

17h•Onsite

About The Position

Identifies root cause of fraud incidents and determines next steps to mitigate financial loss utilizing a wide range of systems to obtain evidence. Gathers evidence, analyzes information and documents findings relevant to reports of known or suspected fraudulent activity perpetrated against or through the Bank by a customer or non-customer.

Requirements

Bachelor’s degree and a minimum of 1 year relevant work experience in Bank Secrecy Act (BSA), Anti-Money Laundering (AML), financial crimes, risk management, compliance or another relevant field.
In lieu of a degree, a combination of 5 years of higher education and/or relevant work experience, including a minimum of 1 year experience in BSA, AML, financial crimes, risk management, compliance, or other relevant field.
Strong written and verbal communication skills
Strong analytical skills

Nice To Haves

Bachelor’s degree in applied sciences, mathematics, statistics, economics, finance or criminal justice
Solid understanding of fraud typologies (deposit, internal, card, ACH, wire, kiting and money movements)
Banking experience
Certified Insurance Fraud Investigator (CIFI) and/ or Certified Fraud Investigator (CFE) certification

Responsibilities

Utilize multiple delivery channels to conduct transaction monitoring, fraud detection, investigations, and risk mitigation processes including customer and account verification, deposit item monitoring, and prevention.
Review output from multiple behavioral models and other reporting sources and complete additional research in various internal and external systems to identify anomalous activity and determine threat to consumer base and/or Bank.
Develop and expand fraud knowledge to determine holistic picture of fraud trends beyond monetary loss monitoring and decipher the intent of fraudster's attempt of social engineering.
Review and investigate referrals submitted from internal Financial Crimes departments, as well as external sources in the Bank, to determine scope of fraud, confirm victim and/ or suspect, and propose action to mitigate.
Substantiate nefarious activity through intelligence gathered by data query to extract information ad-hoc in real time.
Communicate with compromised and/or suspected customers to evaluate fraud occurrence beyond transaction legitimacy verification.
Interview victims and/or suspects to determine point of compromise that initiated fraudulent activity.
Analyze fraud trends.
Identify and investigate root cause of fraud loss and recommend policies and procedures to mitigate exposure.
Collaborate with other functional areas and management to implement risk remediation processes.
Build and maintain case files to document assigned investigations by gathering evidence, analyzing information and documenting findings.
Keep abreast of fraud patterns and schemes impacting the financial services industry and determine how these can transpire on M&T systems, channels, and products.
Identify opportunities to enhance use of fraud detection tools to increase efficiency and ability to address evolving fraud trends.
Assist in the testing and development of detection instruments and fraud prevention process workflow and procedure.
Understand and adhere to the Company’s risk and regulatory standards, policies and controls in accordance with the Company’s Risk Appetite.
Identify risk-related issues needing escalation to management.
Promote an environment that supports belonging and reflects the M&T Bank brand.
Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
Complete other related duties as assigned.