Fraud Risk Analyst I

Five Star Bank•Rochester, NY

20h•$24 - $28

About The Position

The Fraud Risk Analyst I reviews accounts and transaction-monitoring alerts triggered by specific activity to identify and prevent fraud. The analyst uses Q2 Sentinel as the primary transaction-monitoring system, along with other systems, and recommends whether alerts should be escalated or cleared. The role requires direct customer outreach for many alerts and cases, and may involve quickly freezing funds or restricting accounts to protect the Bank and its customers from losses. The analyst monitors daily reports and investigates escalated alerts and manually created cases involving potentially fraudulent or suspicious activity. Based on findings, the analyst takes appropriate action, which may include referring suspicious activity to BSA or restricting or closing accounts or access. The role also involves tracking fraud risk and trend data, responding to inquiries from branches, business units, and customers, and developing expertise in Q2 Sentinel reporting, scenario optimization, model validation, and related system capabilities. The analyst is expected to demonstrate teamwork, leadership by example, and service in interactions with internal and external stakeholders.

Requirements

High school diploma.
At least 3 years of anti-fraud experience.
Any licenses or accreditations required for the role.
Knowledge of and ability to learn emerging fraud trends and tactics.
Strong verbal and written communication skills, including the ability to convey pertinent information to all levels of staff and customers.
Strong organizational skills and ability to manage multiple priorities and meet established deadlines.
Ability to respond quickly and effectively to issues involving high-dollar or high-volume fraudulent transactions, irate customers, robberies, complaints, and law enforcement interaction.
Ability to identify trends, interpret data, and apply findings to workflows.
High level of attention to detail.
Proficiency with Microsoft applications and ability to learn and use banking software applications.
Ability to use the internet to conduct searches related to job responsibilities.
Ability to sit and stand for prolonged periods regularly.
Ability to travel occasionally.
Ability to perform extensive computer usage.

Nice To Haves

Bachelor’s degree.
At least 3 years of anti-fraud experience in the financial services industry.
Certified Fraud Examiner (CFE), Certified Anti-Money Laundering Fraud Professional (CAFP), or another anti-fraud certification.
Experience with Q2 Sentinel software.

Responsibilities

Review transaction-monitoring alerts for fraudulent or unusual activity using Q2 Sentinel and other systems, and recommend whether alerts should be escalated to a case or cleared.
Contact customers directly regarding numerous alerts and cases.
Monitor daily reports across systems—including mobile check deposits, loan checks, ATM deposits, uncollected funds, employee credits, and digital banking transactions—to identify, halt, and report fraud.
Investigate escalated alerts and manually created cases, including business-unit referrals, negative news, and vendor reports.
Take appropriate action based on investigation findings, such as referring suspicious activity to BSA or restricting or closing customer accounts or access.
Track and maintain departmental spreadsheets containing reported fraud risk and trend data for Management review.
Handle calls from branch staff, other business units, and customers concerning fraud investigations and potentially fraudulent activity, including elder abuse referrals, identity theft reports, check verifications, and unusual transactions.
Develop subject-matter expertise in Q2 Sentinel, including report generation, scenario optimization, model validation, and other capabilities that improve system efficiency and effectiveness.
Demonstrate the Five Star Bank experience and its principles through teamwork, leading by example, and service in interactions with customers, associates, and stakeholders.

Benefits

Medical, dental, and vision insurance.
Health Savings Account.
Flexible Spending Account(s).
Company-paid life insurance, long-term disability, and short-term disability.
Voluntary life, critical illness/specified disease, accident, hospital indemnity, and personal accident offerings.
Tuition reimbursement.
Employee referral program.
Wellness reimbursement program.
Star Volunteer Program.
Employee banking and financial perks.
Paid time off (PTO).
Company-paid holidays.
Successful candidates may be eligible for cash or equity-based incentives based on role and performance.