Position Detail: Fraud Analyst
|Position Title:||Fraud Analyst|
|Location:||Fairfield, New Jersey|
|Hours:||9AM - 5PM|
Interact professionally and efficiently with all areas and departments of the credit union, members, law enforcement and any other parties related to the matters being investigated.
Follow daily procedures for running, reviewing and analyzing reports generated by the credit unions core systems and supplemental software, such as Verafin.
Perform review and analysis of daily reports and fraud alerts to identify suspicious/fraudulent activity across all delivery channels. Identify instances of actual/potential fraud or suspicious activity and follows through with a preliminary investigation. If the activity is considered to be fraudulent, then a detailed investigation must be performed and all relative findings shall be brought to the attention of Head of Compliance.
Catalog instances/reports of potential/actual fraud received from department heads, along with supporting documentation and case history.
Prepare a summary of findings for each case and archives the report in the corresponding online folder.
Provide assistance to victims and/or refer them to the appropriate external resources.
Maintain a working knowledge of the fraud detection software, rules and thresholds used to generate alerts. Periodically review and test reports and fraud detection software to ensure effectiveness in identifying suspicious/fraudulent activity.
Monitor trends and develop fraud profiles to make loss mitigation recommendations. Collect, analyze and summarize variety of information to provide statistical reports to management.
Maintain communication with Credit Union personnel and management and provide guidance on how to handle potential/actual fraud situations; proactively communicate any current fraud issues or prevention steps to employees.
Create policies, procedures, correspondence, review regulations, and reports related to fraud; recommend program changes, including revisions to policies and procedures to facilitate loss prevention.
Remain up-to-date on industry information, new products, enhancements, and compliance issues related to all areas of fraud.
Cooperate with Collections and Loss Mitigation and law enforcement to pursue recovery of losses.
Protect the confidentiality of all financial data relating to Credit Union operations and its members.
Comply with all state and federal laws and regulations in performing day-to-day functions.
Other duties that may be assigned.
Associate Degree or combination of education and experience
Bachelors Degree preferred
Excellent analytical skills, attention to detail, organizational skills
Bilingual English/Polish desired
Good understanding of financial transactions
Prior investigative or audit experience
Familiarity with online banking and mobile applications
Excellent communication skills
Understand importance of credit union regulatory environment
Work independently with some guidance;
Ability to function within a team environment.
An Equal Opportunity Employeer