Fraud Specialist

Five Star Bank•San Francisco, CA

2d•$40 - $45

About The Position

The Fraud Specialist provides oversight of all aspects of the Fraud department while operating within the Bank’s risk appetite. The role identifies, assesses, manages, monitors, communicates, and reports risks; reviews, develops, and implements bank policies, procedures, and compliance processes related to fraud; supports the AML team in reporting and documenting fraudulent activity; and assists with fraud prevention, investigations, and customer disputes. The position monitors account activity and fraud alerts, investigates suspicious transactions, and works with clients and internal and external partners to prevent losses, resolve incidents, and improve account security. It also supports regulatory compliance, audit documentation, fraud and dispute policy development, client education, and Positive Pay enrollment and processing. This full-time position regularly requires 40 hours per week. Travel is primarily local during the business day, although some out-of-area and overnight travel may be expected.

Requirements

Bachelor’s degree in a related field or a minimum of 2 years of banking experience.
Business/Analytics or equivalent experience in bank fraud and/or bank operations.
Ability to extract, analyze, interpret, and act on available data, with emphasis on process improvement, operational efficiency, loss reduction, and fraud prevention.
Understanding of check clearing and electronic channel transaction processes.
Ability to analyze, develop, and maintain transaction authorization strategies.
Working knowledge of state and federal regulations related to bank fraud and transaction disputes.
Strong motivational skills.
Professionalism in dealing with others.
Strong organizational, problem-solving, time-management, and analytical skills.
Versatility, flexibility, and willingness to work within changing priorities.
Discretion when handling confidential and/or sensitive information.
Commitment to excellence and high standards.
Computer proficiency, including Word and Excel, and ability to learn and operate software applications related to the function.
Initiative and ability to work with little or no instruction.

Responsibilities

Use fraud detection and risk mitigation systems, including Sentinel, Oasis, and Defender, to monitor account activity daily and identify potential check, ACH, wire, and other fraudulent activity.
Review fraud alerts, analyze suspicious transactions, and take appropriate action to prevent losses and mitigate risk to the Bank and its clients.
Educate clients about Treasury Management fraud mitigation products and services while providing client service and ongoing account security support.
Collaborate with clients and internal business partners to implement fraud prevention controls, investigate incidents, and strengthen account security through monitoring and education.
Meet regulatory timeframes, including reversing fees, reimbursing interest, mailing required client notifications, and closing cases on time.
Gather documentation for Bank audits related to fraud and Regulation E, help prevent audit findings, and implement corrective procedures for identified issues.
Coordinate fraud and dispute investigations with appropriate internal investigative units or external agencies.
Refer exception cases outside pre-established guidelines to the Fraud Manager.
Identify, implement, analyze, and review proactive processes to predict fraudulent behavior and mitigate losses.
Develop, update, and implement fraud and dispute policies and procedures to minimize operational loss exposure and maximize operating efficiency.
Provide clients with guidance, support, and coordination during fraud investigations, resolution, and recovery.
Train and assist clients with Positive Pay enrollment, implementation, exception processing, and fraud prevention practices.