Payment Systems Fraud Specialist

First Northern Credit Union•Chicago, IL

3d•Onsite

About The Position

First Northern Credit Union, a $300 million+, 22,000-member credit union, is seeking a dynamic individual with fraud experience and high energy to join their team. This role involves managing 24/7 fraud monitoring services, reviewing daily reports and alerts for suspicious activity, investigating fraud patterns, and mitigating potential losses. The specialist will also disseminate fraud information, perform transactional analysis, collaborate with other departments on controls and fraud resolution, and assist in preparing internal reports. Other duties include processing fraud and chargeback transactions, tracking fraud alerts, managing compromise alerts, and handling the Payment Systems phone queue during downtime. Adherence to pertinent laws, regulations, and external compliance requirements is mandatory.

Requirements

Subject Matter Expert in specific or general areas of Fraud.
A working knowledge of applicable banking regulations such as the Bank Secrecy Act, FACT Act Red Flags Reg E.
Knowledge of credit union operational procedures relating to processing and manipulation of transactions with knowledge related to how fraud is perpetrated.
Knowledge of Reg E Dispute Resolution.
Knowledge of Visa Chargeback Rules and Fraud processes.
Knowledge of NACHA Unauthorized ACH Rules.
Knowledge of techniques used to commit fraud as identified through detailed transactional analysis.
Ability to detect potential or actual fraudulent transactions through analysis of large volumes of transactional data.
Maintain understanding of all types of fraud, fraud trends and best practices for fraud prevention and detection.
Could effectively motivate and influence others.
Have excellent verbal and written communication skills.
Possess a strong ability to work independently, with little supervision.
Are professionals in conduct and communication.
Could address stressful situations with courtesy and tact.
Have friendly, outgoing personalities.
Have a consistent employment record.
Minimum two years of experience in a fraud/loss prevention type function/like experience or a combination of three years of experience within various related roles (Branch, fraud, security or other back-office functions).
Associate (Required)
Work authorization: United States (Required)

Responsibilities

Manage our 24/7 fraud monitoring services.
Ensure that alerts pertaining to suspicious fraud are monitored during weekends and date(s) we are closed when they are most likely to occur.
Review daily monitoring reports and alerts for suspicious (improper, unusual or irregular) activity and identify the activity that indicates evidence of fraud and fraud risk.
Investigate patterns of potential fraud and act swiftly to mitigate potential loss.
Disseminate information regarding current frauds or scams to appropriate staff.
Perform transactional analysis.
Work collaboratively with Internal Audit, as well as other departments regarding operating controls and fraud resolution.
Assist in the preparation of internal reports of investigations, identify procedural and control weaknesses and make recommendations to prevent future losses.
Assist Investigators in the research and resolution of fraud examination.
Act as an internal fraud consultant to various departments.
Process Fraud and Chargeback transactions with Processors and maintain detailed reports.
Other duties and assignments as required by management.
Must adhere to pertinent laws, regulations and external compliance requirements.
Track fraud alerts received from various sources.
Manage compromise alerts determining when reissues and card closures are required.
Responsible for Payment Systems phone queue during downtime.