Senior Fraud Analyst

Overview

We are looking for an experienced Senior Fraud Analyst to join our team. The selected candidate will be responsible for monitoring, investigating, and mitigating fraudulent activities while ensuring compliance with financial regulations and company policies.

Job Description

Roles and Responsibilities

• Evaluate potential fraud alerts within the alert management system to determine whether the activity constitutes fraud or not.
• Analyze alerts generated by the fraud detection system and regularly review daily, weekly, and monthly reports to identify unusual activities.
• Scrutinize transaction history, check images, ACH and wire transfers, and online banking logins to assess risks or detect fraudulent activities.
• Perform fraud investigations, including internal cases and those reported by partner financial institutions, and develop action plans in compliance with company policies and procedures.
• Take corrective measures such as: A) Blocking card access, B) Limiting online banking access, C) Placing holds on funds, D) Attaching restriction flags to accounts.

• Document detailed notes in the alert management system to provide clear insights into the identified fraud and the actions taken.
• Identify and document patterns of fraud through vigilant monitoring of high-risk transactions.
• Routinely review and monitor existing fraud detection rules, collaborating with the fraud and risk teams to enhance detection capabilities.
• Maintain strict adherence to regulatory, operational, and compliance standards.
• Actively engage in team meetings, share relevant information, and contribute suggestions to improve fraud detection and operational efficiency.
• Assists in the development of new and/or updated policies and procedures related to fraud.
• Identify and recommend improvements to the credit union’s Fraud program.
• Assist in training opportunities with credit union employees on fraud issues.
• U.S. Fraud Knowledge: Familiarity with key U.S. fraud trends, transaction types, red flags, and investigative techniques.
• Broad Fraud Expertise: Knowledge of various fraud types beyond check fraud, including Deposit fraud, online account takeover, identity theft, ACH fraud, and wire fraud.
• Clear Fraud Investigation Understanding: Ability to articulate fraud detection techniques, preventive measures, and investigative workflows.
• Fraud Documentation Skills: Proficiency in fraud documentation, particularly alert closure comments and templates used in investigations.
• Corrective Measures: Ability to take actions such as blocking card access, limiting online banking, placing holds on funds, and attaching restriction flags to accounts.

Required Skills

• Minimum of a BCom, BBA-Finance, or MBA-Finance.
• Strong analytical skills with the ability to conduct research and analyze data effectively.
• Understanding of USA banking regulations, financial transactions, and culture.
• Excellent organizational skills and attention to detail.
• Ability to work both independently and collaboratively within a team environment.
• Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint).
• Strong verbal and written communication skills.
• 3-5 years of strong experience in banking experience.
• Minimum 3 years’ experience in financial fraud, or related activities in US business.
• Experience working with alert management systems such as Verafin, SCM, Actimize, NICE Scion, etc.
• Having Basic or working knowledge of Salesforce or any banking Backoffice application.
• Strong analytical skills and attention to details and patterns.
• Thorough knowledge and understanding of banking regulations.
• Certified Fraud Examiner (CFE), Certified Financial Crimes Investigator (CFCI), or Certified AML & Fraud Professional (CAFP) certification preferred or be willing to be obtained within 2-years of employment.
• Worked in an Automation environment and has Automation mindset.

Skills & Requirements

Apply Now