Fraud Specialist

Avidbank•San Jose, CA

1d•Onsite

About The Position

The Fraud Specialist serves as the primary point of contact for all fraud-related events and is responsible for coordinating the fraud investigation process from initial customer intake through research, case assignment, escalation, and resolution. This role plays a central coordination function, ensuring timely communication and action among internal stakeholders, including Relationship Management, Operations, Treasury Management, BSA/AML, Risk Management, Compliance, and other key partners. The Fraud Specialist independently performs fraud analytics, transaction monitoring, and investigative reviews in support of the Bank’s fraud risk management program. This position applies sound judgment and strong analytical expertise to identify, investigate, document, and escalate potentially fraudulent or suspicious activity, with a strong emphasis on alert decisioning, case management, and regulatory reporting support using Verafin and other monitoring systems. Close collaboration with internal stakeholders is essential to ensure effective fraud mitigation, regulatory compliance, and timely risk escalation.

Requirements

Bachelor's degree preferred or equivalent experience in fraud investigations preferred.
3 – 5 years of experience in bank operations, fraud investigations, BSA/AML compliance, or financial crimes within a financial institution (banking or credit unions experience preferred).
Strong analytical and critical-thinking skills with ability to identify patterns, and anomalies
Knowledge of BSA/AML regulations, OFAC requirements, and fraud typologies
Experience with fraud detection or transaction monitoring systems (Verafin preferred)
Excellent written and verbal communication skills for interacting with customers, and staff
Ability to work with confidential information while exercising sound judgment
Working knowledge of bank operations, primarily deposits and payment products
Proficiency in Microsoft Office applications including Excel and Word

Nice To Haves

Preferred credential: CAMS, CFE, or other fraud or AML certifications

Responsibilities

Serve as the first point of contact for all reported fraud events, coordinating investigations from customer fraud intake through resolution
Manage fraud referrals, including intake, research, case creation, assignment, and notification of relevant internal stakeholders for required action
Conduct end-to-end fraud investigations, including transactional analysis across deposit, payment, and digital banking channels
Independently review, analyze, and disposition fraud alerts generated by Verafin and related monitoring systems
Open, track, and resolve fraud cases while maintaining complete and well-supported investigative documentation for management review and potential law enforcement referrals
Communicate effectively with internal teams, customers, and external partners to obtain information necessary to support investigations
Collaborate with Operations, BSA/AML, Risk & Compliance, Treasury Management, IT, and frontline teams to support fraud detection, response, and prevention efforts
Provide fraud-related guidance and support to frontline and operational staff, including identifying suspicious activity and compliance concerns
Adhere to BSA/AML and OFAC policies and procedures, including escalation and reporting of suspicious activity as appropriate
Perform Customer Identification Program (CIP), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) reviews, including customer risk rating assessments and ongoing monitoring of higher-risk customers
Maintain accurate, timely, and audit-ready case documentation to meet regulatory, audit, and examination standards
Assist with the development and enhancement of fraud-related policies, procedures, and risk mitigation strategies
Stay current on regulatory requirements, emerging fraud trends, and industry best practices
First point of contact for fraud events, collaborating with internal parties for fraud investigation from customer fraud report intake, research, and case notifications to related parties for action items related to this fraud event.
Conduct end-to-end investigations of potentially fraudulent or suspicious activity, including transactional analysis across deposit, payment, and digital banking channels.
Independently review, analyze, and disposition of fraud alerts generated through Verafin and related monitoring systems.
Collaborate with BSA, Compliance, Operations, IT, and frontline teams to support fraud detection, prevention, and awareness efforts.
Open, track, and resolve fraud cases; maintain complete investigative documentation for management review and potential law enforcement referrals.
Communicate with internal teams, customers, and external partners to obtain additional information related to fraud investigation.
Provide fraud a support frontline staff, including guidance on identifying suspicious activity or compliance concerns.
Understand and adhere to BSA & OFAC policies and procedure, including reporting suspicious activity.
Perform Customer Identification Program (CIP), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) reviews, including customer risk rating assessments and ongoing monitoring of higher-risk relationships.
Maintain complete, accurate, and well-supported case documentation to meet regulatory, audit, and examination standards.
Assist in developing and revising fraud-related policies, procedures, and mitigation strategies to reduce organizational fraud risk.
Stay up-to-date on regulatory changes, emerging fraud trends, and industry best practices related to BSA/AML compliance.