Fraud Specialist (hybrid Maryland based)

Educational Systems Federal Credit Union•Greenbelt, MD

2d•Hybrid

About The Position

The Fraud Specialist is responsible for detecting, investigating, and mitigating fraudulent activity affecting the credit union and its members. This role plays a critical part in protecting member assets, reducing financial losses, and maintaining trust by identifying suspicious transactions, conducting thorough investigations, and ensuring compliance with applicable laws and regulations. Additionally, the Fraud Specialist position is responsible for ensuring compliance with the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) policies and procedures and the applicable federal regulations to protect the Credit Union from being used as a conduit for illegal and/or fraudulent activity.

Requirements

Strong understanding of fraud schemes, investigative techniques, and financial transactions.
Knowledge of credit union operations and member service principles.
Ability to analyze data, recognize patterns, and make sound decisions under pressure.
Excellent written and verbal communication skills.
High attention to detail with strong documentation skills.
Ability to handle sensitive information with discretion and confidentiality.
Proficiency with fraud monitoring tools, core systems, and Microsoft Office applications.
Ability to work independently and collaboratively in a fast-paced environment.
High school diploma or equivalent required.
1-3 years of experience in fraud prevention, investigations, banking operations, or financial services preferred.

Nice To Haves

Associate or bachelor's degree in criminal justice, finance, business, or a related field preferred.
Credit union experience preferred.
Certified Fraud Examiner (CFE)
Accredited Fraud Investigator (AFI)
Certified Anti-Money Laundering Specialist (CAMS)
NAFCU Certified Bank Secrecy Officer (NCBSO)

Responsibilities

Using fraud alerts within the various software utilized to identify potentially fraudulent activity and take appropriate action to minimize losses to the credit union.
Identifies, conducts and documents fraud investigations.
Prepare cases and police reports and reviews camera footage as appropriate.
Identifies & articulates areas of risk exposure for potential monetary loss within the Credit Union.
Document and respond to Summons and Subpoena requests received by local, state and federal agencies in relation to fraud.
Communicate professionally and empathetically with members to resolve fraud-related issues.
Process fraud claims, affidavits, provisional credits, and disputes in compliance with regulatory requirements.
Educate members on fraud prevention best practices and steps to protect their accounts.
Coordinate with internal resources to ensure timely and consistent resolution.
Ensure adherence to applicable regulations including Reg E, Reg CC, UCC, and BSA/AML requirements as applicable.
Assist in preparing fraud-related reports, metrics, and analysis for management and auditors.
Have knowledge on all BSA/AML/OFAC regulations, including FFIEC guidelines, FinCEN requirements, and NCUA expectations.
Monitor emerging risks and recommend program updates as needed.
Serve as a back up to perform daily activities related to BSA/AML monitoring, including reviewing alerts, cases, high-risk accounts, CIP, CDD/EDD, and automated monitoring systems.
Including timely filing of CTRs, SARs, 314(a) responses, and any other required reports.
Maintain documentation, recordkeeping, and audit trails in accordance with regulatory requirements.
Participate in ongoing training to maintain current knowledge of current fraud trends, BSA/AML and OFAC regulatory requirements.