Fraud Specialist

Summit Credit Union - Cottage Grove, WI

Full-time

Cottage Grove, WI

101-250 employees

Credit Intermediation and Related Activities

About the position

The Fraud Specialist at Summit Credit Union is responsible for detecting, preventing, and investigating fraud related to new accounts and deposits. This role involves monitoring returned deposit items, processing member adjustments, and maintaining compliance with regulatory requirements. The specialist will also communicate fraud trends to senior management and work closely with members and staff to address potential fraud cases.

Responsibilities

• Monitor, investigate, and process returned check deposit items (RDI)
• Process member adjustments and re-deposit RDI items that qualify
• Create SAR for accounts within regulatory time frames if required
• Report negative accounts to appropriate agencies and internal departments within defined time frames
• Maintain daily fraud tracking for deposit return items processed based on branch or mobile deposit platform
• Act as the expert on compliance and timing requirements for RDI's
• Serve as the key contact for Large Dollar Return Item Notification
• Review Sentry alerts and Qualifile reports for suspicious or negative accounts and make recommendations to Senior Fraud Investigator for closure
• Create monthly reports for accounts opened outside of CU guidelines for monthly reporting by Fraud Analyst
• Work with branches, contact center, and members to review account activity for potential fraud cases
• Assist members and branch staff on accounts with identified fraud and complete Affidavit of Forgery
• Review the daily Truechecks file and decision checks presented in the file
• Complete maintenance and send proper member notifications to mitigate loss for the member and credit union
• Review Zelle fraud notifications and update credit union accounts based on findings
• Maintain knowledge of all credit union products and services
• Execute all job functions in compliance with BSA, OFAC, and USA Patriot Act/Customer Identification Act (CIP)
• Provide back-up support for various Operations Support department functions as needed
• Assist with additional projects and other duties as assigned by departmental leadership.

Requirements

• High school education and a two-year college degree or completion of specialized course of study
• Minimum of 2 years of experience in banking or other financial services industry
• Minimum of 2 years of experience in fraud processing
• Professional writing and interpersonal skills for interacting with staff, members, and business partners
• Ability to analyze situations, problem solve, and use good judgment
• Strong decision-making skills
• Ability to work independently and react quickly to solve problems
• Self-disciplined, detail-oriented, and able to manage time and prioritize tasks
• Experience having difficult conversations with members and internal employees
• Basic mathematical skills (Addition, Subtraction, Multiplication, Division)
• Ability to operate office software including MS Outlook, MS Word, and intermediate knowledge of MS Excel.

Benefits

• 401K Plan
• Health Insurance
• Comprehensive benefit package with great retirement plan
• PTO including for birthday and volunteer time