Fraud Specialist

Prosper•Phoenix, AZ

4d•Hybrid

About The Position

Prosper is seeking smart, energetic professionals to join our Fraud Team. We are rapidly growing our business and are seeking an individual to help build a best-in-class fraud process. Must be extremely detail oriented.

Requirements

Strong attention to detail and critical thinking to drive judgement based problem-solvingthrough analytical thinking.
Knowledge of fraud detection systems and tools, such as LexisNexis, Emailage, ThreatMetrix, Sentilink. Basic understanding of AI-driven fraud detection and a strong interest in utilizing Machine Learning model scores to prioritize investigation workflows.
Familiarity with credit card and lending industry regulations and practices.
Excellent communication skills to include verbal and written documentation of customer interactions and investigation findings.
Able to work independently with limited supervision in a professional, proactive, and solution-oriented manner to support business objectives.
Positive and able to thrive in a dynamic and fast-paced hybrid environment.
Advanced experience reviewing documents for authenticity
Detail-oriented with a focus on accuracy and thoroughness in investigations.
1+ years’ experience in financial services industry
1+ years’ experience as fraud analyst or investigator is a plus
Must have High School diploma or GED

Responsibilities

Review and analyze fraud cases across multiple products, including credit cards, lending and investor products.
Conduct detailed investigation and analysis of collected information from multiple sources (i.e. database records, KYC documentation, external search engines and open-source websites) to determine level of risk associated with suspicious transactions, applications, and account activity.
Engage with customers via phone and/or email to verify application details and/or review transaction activity for accuracy and legitimacy.
Make critical decisions on case resolution and actions, including account closure, and/or law enforcement engagement recommendations.
Identify patterns and trends in fraudulent activity to develop actionable insights and recommend preventive measures.
Monitor and utilize AI fraud detection tools, machine learning model scores, and alert systems to detect potential fraud in real-time.
Work closely with internal teams, including risk management, operations, compliance, and customer service, to resolve fraud cases efficiently.
Communicate investigation findings and outcomes clearly and concisely to relevant parties, including senior management.
Maintain detailed records of investigations, findings, and resolutions in compliance with regulatory and internal standards.
Ensure all investigations comply with applicable laws, regulations, and internal standards, including Fair Lending and Fair Credit Reporting Acts.
Ensure compliance with industry regulations and company policies when handling information.
Support leadership for audit and compliance reviews by providing detailed documentation and insights into fraud cases and trends as needed.
Contribute to the development and enhancement of fraud policies and procedures for credit card, lending and investor products.
Participate in monthly reviews of fraud controls, processes, and systems to identify gaps and areas for improvement.
Stay informed and aware of emerging fraud schemes, industry best practices, and regulatory requirements to strengthen fraud investigation measures.
Test and provide feedback on fraud detection strategies to enhance their effectiveness.
Proactively learn and adopt AI-enhanced tools to streamline manual reviews and improve accuracy of fraud trend indentification.