Fraud Specialist 1

Farmers and Merchants Bank of Long Beach•Lakewood, CA

10d•Onsite

About The Position

The Fraud Specialist 1 works within the Second Line of Defense (2LOD) and supports the Bank’s Enterprise Risk Management Framework. Reporting directly to the Enterprise Fraud Manager and Fraud Risk Team Lead, this position monitors and analyzes daily internal checks, deposits, ACH transactions, Q2 Sentinel, Debit Card Regulation E claims, and Zelle claims. The specialist reviews suspicious or unusual activity promptly, evaluates potential losses, verifies transactions with branches and customers, and works to mitigate risk while meeting established department standards. The role calls for customer service, fraud analysis, problem solving, effective communication, confidence, and awareness of recent fraud trends. The position processes checks, deposit, ACH, external transfer, Zelle, and debit-card fraud or dispute cases; maintains appropriate tracking logs and records; follows up on investigative leads; and supports timely claim resolution and regulatory compliance. It also maintains designated Enterprise Fraud Department general ledger accounts and meets specified service-level targets. The position is primarily performed in an office environment with controlled temperature and standard office conditions. It requires use of computers and customary office equipment, repetitive office and computer-based movements, and the ability to sit or stand for extended periods and move objects weighing up to 25 pounds, with or without reasonable accommodation. Occasional holiday and/or Saturday hours may be required based on business needs. This sensitive position requires a mandatory consecutive absence of two weeks each calendar year, scheduled with management. It is not eligible for an Officer Title designation.

Requirements

At least 1 year of experience in a banking security environment and/or 1 year of experience in a credit-card or debit-card processing environment.
Experience in overall bank operations.
Clear understanding of spoken and written English.
Basic mathematical skills and intermediate typing skills.
Strong customer service and listening skills; time-management skills; and excellent interpersonal and communication skills.
Critical-thinking, analytical, and investigative skills; ability to actively listen and learn.
Ability to communicate respectfully with supervisors and co-workers and effectively deal with unpleasant, angry, or discourteous people.
Ability and willingness to foster and participate in a team environment and contribute to team efforts.
Ability to perform repetitive office and computer-based movements; sit or stand for extended periods; lift, carry, or move objects up to 25 pounds; and use hands and fingers to operate standard office equipment, with or without reasonable accommodation.
Availability for occasional holiday and/or Saturday hours based on business needs.

Nice To Haves

Associate’s degree.
Knowledge of Regulation CC, Regulation DD, Regulation D, Regulation E (EFT), Mastercard rules and regulations, and Regulation E error resolution.

Responsibilities

Review daily checks, deposits, ACH transactions, Q2 Sentinel activity, Debit Card Regulation E claims, and Zelle claims for suspicious or unusual activity and potential losses.
Verify potential check, deposit, and ACH fraud identified by the Bank’s Fraud Detection Systems; follow established policies and procedures to mitigate losses.
Notify Branch Operations about questionable items to obtain approval, and track and retain exception-item resolutions.
Follow operational procedures for timely returns and retain return data for reference and reporting.
Verify and resolve potential insider-account fraud items through the Bank’s Fraud Detection System.
Review potential ACH and external transfer fraud identified by the Bank’s Fraud Detection System; notify Branch Operations about questionable items and track resolutions and cancellations.
Open Zelle fraud claims promptly once fraud is confirmed, review fraud and dispute activity for chargeback rights and recovery, and follow up on investigative leads.
Work fraud and dispute claims promptly to comply with Regulation E and maintain a Regulation E tracking log.
Provide provisional or final credit on debit-card fraud and dispute claims reported to the Bank’s Debit Card Processing Vendor in a timely manner to ensure Regulation E compliance.
Keep fraud logs current for management and accounting purposes; maintain Enterprise Fraud Department general ledger accounts and clear items according to Bank policy within 90 days or before.
Work Pin Debit fraud and dispute claims through STAR and follow up on the claims, including the chargeback process cycle and photo requests.
Meet service-level agreements for accurately processing critical duties (at least 95%) and timely submission of potential fraud exceptions (at least 95%).
Comply with applicable banking laws, regulations, and internal policies, including BSA, AML, OFAC, CIP, financial elder abuse reporting, harassment prevention, information security, and privacy requirements.
Be available for occasional holiday and/or Saturday hours based on business needs.
Complete a mandatory two-consecutive-week absence from essential duties each calendar year, coordinated with management.