Sr. Fraud Prevention Specialist

Credit Union West•Glendale, AZ

About The Position

Supports the mission of the Credit Union by enhancing the quality of life for our members, by providing accurate and timely service that builds trust and loyalty, delivered in a professional member friendly environment. Responsible for the daily operation of the Credit Union’s comprehensive fraud prevention program by analyzing, detecting, and preventing fraud using various core systems. Monitors for potentially fraudulent activities with ACH, Card, wire, online and mobile banking, bill pay, electronic funds transfer, checks, and other systems as defined. Ensures the credit union is protected from financial loss stemming from fraudulent behaviors of members or staff. Conducts analysis of data output to detect fraud patterns and trends through our BSA/AML software. Investigates and follows-up on fraud cases and recommends resolution based upon established risk tolerances and reports such cases to the Fraud Prevention Manager and other members of management and applicable staff.

Requirements

A high school diploma or G.E.D.
3-5 years of experience in financial institution with fraud prevention experience preferred.
Knowledge of basic investigative techniques.
Ability to work well in stressful situations.
Solid analytical and negotiating skills to include case follow-up.
Live the mission, vision, and core values of the credit union.
Able to communicate effectively and tactfully with employees and members both orally and in writing.
Demonstrate critical thinking and being self-reliant to better analyze and solve problems.
Effective time management and organizational skills. Ability to multi-task and be agile to serve members and employees.
Maintain working knowledge of Microsoft Office, SharePoint, and collaborative tools (Teams and Zoom).
Thorough knowledge and understanding of organization’s Employee Handbook and policies.
Must demonstrate functional knowledge of the Bank Secrecy Act in addition to other Federal laws, including but not limited to U.S. Patriot Act, Office of Foreign Assets & Control, Anti Money Laundering, Right to Financial Privacy Act, and the Bank Bribery Act.

Responsibilities

Fraud Research and Analysis - Researches and analyzes high risk transactions and alerts to identify possible cases of fraud. Create and maintain complete and accurate case files including evidence and interview summary within Fraud/AML platform. Evaluates each case and determines research information and sources needed to make a recommendation regarding case disposition. Conducts member reviews and gathers documentary evidence including locating surveillance and review of recorded calls to support potentially fraudulent or illegal conduct and immediately proceeds with corrective measures, which include but not limited to preventing further fraud, escalating the situation to the Fraud Prevention Manager, and appropriate management, and assisting in building a process to avoid future fraud. Develops and monitors reports to analyze and communicate findings to the Fraud Prevention Manager and other members of management on fraudulent trends, interception opportunities, and early warning risk indicators. Department liaison for Credit Union members, staff and other financial institutions for fraud related inquiries and guidance. Develops and maintains professional working relationships with law enforcement agencies and other financial institutions in a mutual effort to combat fraud and prosecute criminals as necessary.
Fraud Process and Procedure - Assists in developing, updating, and building fraud related department procedures, policies, and forms. Recommends changes as needed to avoid risk and minimize losses to the credit union as well as improve efficiencies. Participates in systems implementation, testing, and ongoing accuracy of new and updated vendor applications for any programs that are subject to cross channel fraud. Participates in the development and implementation of the ODP program to ensure adherence of regulatory requirements and actively look for trends of negative share unavoidable losses to ensure policy and procedures in place are sufficient.
BSA/AML – Responsible for identifying fraud detection system configuration changes or settings within the BSA/AML software system. Assists the Director of Compliance in providing guidance to staff regarding the reporting of suspicious activity and the processing and completion of Suspicious Activity Notification Forms (SANFs) per federal standards, guidance, and regulations.
Performs other duties as assigned.