Fraud Analyst (51922)

Position Summary

The Fraud Analyst is responsible for assisting the Compliance Officer and the VP of Risk Management with research, tracking and reporting of items related to fraud for the Credit Union in addition to the development and maintenance of risk management functions that result in reduced risk for the Credit Union.

Position Responsibilities

• Conduct thorough investigations of all cases involving members who are either victims of fraud or have engaged in fraudulent activities against the credit union.
• Monitor Verafin alerts to identify potential cases of account fraud, wire fraud, check kiting, electronic fraud, and related activities.
• Evaluate BioCatch high-risk alerts to determine if they are false positives or indicative of potential online fraud. Contact members identified as high-risk and restrict online access when necessary to safeguard both the credit union and its members.
• Track all incidents as cases in Verafin, including payment plans and recoveries.
• Track efforts of prevented fraud, Fed adjustments as recovery, and any restitution received. Prepare monthly reports summarizing fraud prevention initiatives and losses incurred.
• Investigate all Requests for Investigation (RFIs) submitted by team members, documenting each as a case in Verafin.
• For RFIs involving new account or loan fraud, conduct thorough investigations and notify relevant departments for corrective action.
• Serve as the primary point of contact for members experiencing fraud and act as the direct liaison to local law enforcement agencies.
• Process Return Check requests with Fiserv or the Federal Reserve promptly.
• Process documentation with financials that have breached UCC warranties to help in recovery of check fraud losses.
• Submit eligible bond claims to CUNA Mutual Insurance in a timely manner.
• After completing an investigation with supporting documentation, provide recommendations to the Compliance Officer regarding the filing of a Suspicious Activity Report (SAR).
• Monitor Positive Pay reporting for unmatched checks and communicate directly with business members about any concerns.
• Assist the Service Center with review of fraudulent checks deposited through Mobile Deposit and send correspondence to members whose Mobile Deposit privileges have been revoked due to unacceptable activities.
• Assist with the development and implementation of internal controls designed to minimize loss exposure for the credit union and ensure fraud prevention of its members.
• Assist team members with compliance issues and procedural questions.
• Additional duties as assigned.
  
  

Qualifications

Education And Experience

• Associates degree or higher in a related field required.
• A minimum of two (2) years’ financial institutional experience required.
• Fraud investigation or compliance experience is a plus.
• Professional certification is preferred.
• An equivalent combination of education and experience will be considered.
  
  

KEY COMPETENCIES

• Solid understanding of financial operations, credit procedures, and fraud-related regulations at both state and federal levels.
• Strong ability to interpret data, identify patterns, and draw logical conclusions from diverse sources.
• Exercise sound decision-making to minimize organizational exposure to fraud and financial risk.
• Understanding of credit functions and procedures.
• Communicate clearly and professionally in both written and verbal formats, including reports, procedures, and regulatory responses.
• Maintain high accuracy and compliance standards in all investigative and documentation work.
• Apply critical thinking to resolve complex issues and respond effectively to inquiries from members and team members.
• Work well independently and as part of a team, managing multiple priorities with initiative and discretion.
• Ability to work well with others at all levels of the organization.
• Demonstrated ability to work independently, work collaboratively, handle multiple priorities, exercise good judgment, and employ initiative.
• Skilled in using standard office equipment and software, including word processing, spreadsheets, and fraud detection tools.
  
  

PHYSICAL DEMANDS AND WORK ENVIRONMENT

• Work Environment: Business office, the noise level in the work environment is usually quiet to moderate.
• Physical Requirements: Ability to sit or stand at a desk the majority of the workday; talk or hear; stand or walk occasionally. While performing the duties of this job, the team member is typically utilizing a computer, keyboard, and phone. May occasionally reach with hands and arms; stoop, kneel, and crouch. The employee may occasionally lift and move up to 30 pounds.
  
  

WHAT DO WE OFFER?

Benefits

• Medical, dental and vision insurances
• Supplemental insurances
• Pre-tax and Roth 401(k) Safe Harbor options
• Flexible spending accounts
• Health Savings Account (HSA)
• Paid time off (PTO)
• Paid holidays, including birthday
• Bereavement and pet leave
• Basic Life/AD&D, short-term and long-term disability coverage at no cost
• Voluntary Life/AD&D
• Employee Assistance Program
  
  

The above information has been designed to indicate the general nature and level of work performed by persons within this job this job classification. It is not designed to contain or be interpreted as a comprehensive inventory of all the duties, responsibilities, and qualifications required of persons assigned to this job. Additional duties may be required to perform the job effectively.