Fraud Specialist

Five Star Bank, Ca•San Francisco, CA

23h

About The Position

The Fraud Specialist provides oversight of the Bank’s fraud-related work while operating within the Bank’s risk appetite. The role identifies, assesses, manages, monitors, communicates, and reports risks; reviews, develops, and implements fraud policies, procedures, and compliance processes; supports the AML team with reporting and documentation of fraudulent activity; and assists with fraud prevention, investigations, and customer disputes. The position monitors account activity and fraud alerts, investigates suspicious transactions, helps clients strengthen account security, and ensures regulatory deadlines and documentation requirements are met. It also develops processes and policies to prevent fraud, reduce operational losses, and improve efficiency. The role is full-time, regularly requiring 40 hours per week, with primarily local business-day travel and some possible out-of-area or overnight travel. The stated salary is $40–$45 per hour.

Requirements

Bachelor’s degree in a related field or a minimum of 2 years of banking experience.
Business/Analytics experience 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 relating 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 with constantly 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.
Displays initiative and works well with little or no instruction.
Ability to comprehend technical written material.

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 and provide ongoing account security support.
Collaborate with clients and internal business partners to implement fraud prevention controls, investigate fraud incidents, and strengthen account security through monitoring and education.
Meet regulatory timeframes, including reversing fees, reimbursing interest, mailing required client notification letters, and closing cases on time.
Gather documentation for Bank audits related to fraud and Regulation E, help prevent findings, and implement corrective procedures when issues are identified.
Coordinate investigations of fraud and dispute matters 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 to the Bank.
Develop, update, and implement fraud and dispute policies and procedures to minimize operational loss exposure and maximize operating efficiency.
Support clients during fraud events by guiding and coordinating investigation, resolution, and recovery efforts.
Train and assist clients with Positive Pay enrollment, implementation, exception processing, and fraud prevention practices.
Provide oversight of fraud department activities and support the AML team with reporting and documentation of fraudulent activity.