Fraud Review & Resolution Specialist

Flagstar Bank • New York, NY

113d • $30 - $36

About The Position

Under direct supervision of the Fraud Review & Resolution Assistant Manager, the Fraud Review & Resolution Specialist manages fraud incidents and inquiries reported by various groups within the Bank. This level is responsible for routine operational and/or administrative work. Day-to-day actions are focused on administering defined procedures, analyses and report preparation.

Requirements

• High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent
• 3+ Years in a fraud related capacity

Nice To Haves

• Understanding of common fraud types (e.g., phishing, account takeover, social engineering, etc.).
• Understanding of common check fraud schemes, including but not limited to: forged checks, counterfeit checks, altered checks, check kiting, check washing, third-party fraud, RDC fraud, and fraudulent endorsements.
• Ability to identify fraud patterns and apply appropriate mitigation strategies.
• Familiarity with fraud detection systems and banking platforms.
• Understanding of various regulatory structures, Regulation CC, Uniformed Commercial Code articles 3 and 4, and Regulation E, Suspicious Activity Reporting (SAR).
• Understanding of fraud typologies and escalation protocols.
• Proficiency in Microsoft Office and fraud monitoring tools.
• Ability to navigate multiple systems quickly and accurately.
• Working knowledge of banking & payment systems.

Responsibilities

• Review and respond to emails submitted to the Fraud Department; create and compile files on fraud incidents, ensuring incidents are adequately documented and the Fraud case management system is updated on a timely basis; responsible for the overall file maintenance.
• Close files ensuring all documentation is entered accurately, completely and timely for review; monitor recovery of funds and updates case management system upon receipt.
• Collaborate with Bank Operations, Funds Transfer and Corporate Security on a daily basis to recover fraud losses and to obtain information pertinent to the investigation.
• Communicate and correspond with Private Client Groups (PCGs) in order to obtain documentation and information to complete the investigation.
• Escalate cases to Corporate Security for reporting purposes when necessary.
• Prepares Write-off requests to reimburse clients for fraud-related losses and obtain appropriate management approval.
• Adheres to regulatory requirements pertaining to Regulation E, Regulation CC and Suspicious Activity Reporting (SAR).
• Coordinate and follow up on compromised accounts.
• Monitor potential fraudulent bill payments inquiries when alerted.
• Performs special projects, and additional duties and responsibilities as required.

Benefits

• Medical insurance
• Dental insurance
• Vision insurance
• Life insurance
• Disability insurance
• Comprehensive leave program

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Credit Intermediation and Related Activities
• Education Level: High school or GED