Payment Systems Fraud Specialist

First Northern Credit Union•Chicago, IL

4d•Onsite

About The Position

First Northern Credit Union, a $300 million+, 22,000-member credit union, is seeking a dynamic and high-energy individual with fraud experience to join their team. This role involves managing 24/7 fraud monitoring services, reviewing daily reports for suspicious activity, investigating fraud patterns, and mitigating potential losses. The specialist will also disseminate fraud information, perform transactional analysis, and collaborate with other departments on fraud resolution and control improvements. Additionally, the role includes assisting investigators, acting as an internal fraud consultant, processing fraud and chargeback transactions, and tracking fraud alerts. The position requires adherence to pertinent laws and regulations, managing compromise alerts, and handling the Payment Systems phone queue during downtime.

Requirements

Subject Matter Expertise in specific or general areas of Fraud.
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.
Excellent verbal and written communication skills.
Strong ability to work independently, with little supervision.
Professional conduct and communication.
Ability to address stressful situations with courtesy and tact.
Friendly, outgoing personality.
Consistent employment record.
Associate degree (Required).
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).
Work authorization in the United States (Required).

Nice To Haves

Could effectively motivate and influence others.

Responsibilities

Manage our 24/7 fraud monitoring services, ensuring alerts are monitored during weekends and closed dates.
Review daily monitoring reports and alerts for suspicious activity and identify 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 and 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.
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.
Adhere to pertinent laws, regulations, and external compliance requirements.