Fraud Specialist

Mayo Employees Federal Credit Union•Rochester, MN

4d•$54,080 - $58,240•Onsite

About The Position

Our Compliance Team is expanding! Mayo Employees Federal Credit Union (MEFCU) is looking for someone with a passion for fraud prevention, a collaborative approach, and a desire to provide a high-level of member service to join our team as a Fraud Specialist! The Fraud Specialist investigates and analyzes financial data and monitors transactions to prevent fraudulent activity. Typical job duties include, but are not limited to: timely identifying, investigating, and completing appropriate follow-up on suspicious and fraudulent activities in compliance with applicable regulations and policies; actively participating in the development and implementation of organizational fraud prevention strategies; and promoting a culture of fraud prevention awareness across the credit union. Other duties may be assigned as needed.

Requirements

An Associate degree AND at least one year of experience working in a financial institution.
A high school diploma and two years of experience working in a financial institution.
An equivalent combination of education and experience sufficient to successfully perform the essential duties of the position may be considered.
Knowledge of: various functional areas of financial institutions and their interrelationships.
Knowledge of: Fraud detection and prevention concepts, application methods and program elements; regulatory requirements, and procedures necessary; financial industry standards and regulations
Skill in: strong organizational and interpersonal skills; strong analytical and organizational skills; partnering and coordinating with multiple departments.
Ability to: work cross-functionally throughout all business segments as related to effective fraud detection and prevention; communicate and translate complex information to all levels of the organization both verbally and in writing

Nice To Haves

Fraud related certification

Responsibilities

Timely identifies, investigates, and completes appropriate follow-up on suspicious and fraudulent activities in compliance with applicable regulations and policies.
Reviews and analyzes account transactions and reports to detect suspicious activity.
Reviews and documents unusual activity related to wires, unauthorized activities and potential identity theft.
Handles outreach from members regarding fraud and identity theft, providing accurate and professional assistance.
Coordinates the recovery of losses due to fraudulent activity.
Collaborates with various departments to ensure timely resolution of fraud incidents.
Works with authorities as needed regarding fraud cases.
Logs cases regarding fraudulent activity, providing clear, applicable, and accurate documentation.
Actively participates in the development and implementation of MEFCU fraud prevention strategies and promotes a culture of fraud prevention awareness across the credit union.
Collaborates with all credit union departments to ensure effective fraud risk identification, assessment, and mitigation; including the development of action plans to manage and mitigate fraud risks.
Works with various departments (i.e. collections, accounting, cards) in the timely identification, management and enforcement procedures for at-risk accounts.
Assists with credit union employee training and member education regarding fraud detection and prevention.

Benefits

Affordable Medical Plans
Six Paid Holidays and Generous Accrued Paid Time Off Plan
Employer-Paid Life and AD&D Insurance (additional voluntary coverage is available for employee purchase too!)
Employer-Paid Short and Long-Term Disability Insurance
Employer-Paid Health Reimbursement Account or Health Savings Account contribution
401k Plan with Generous Employer Match
Tuition Assistance
Flexible Spending Accounts
Employer-Paid Identity Theft Insurance
Employee Assistance Program
Voluntary Accident and Critical Illness Insurance
Discounted Pet Insurance Program