Fraud Specialist II

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The Position

Fraud Specialist II

Job Description

SUMMARY

This position is responsible for analyzing alerts to detect irregular or suspicious transactions and prevent losses associated with fraud and financial crimes, taking appropriate action to protect the bank and its customers. This position is responsible for investigating cases of fraud and assisting with case management including maintaining necessary records and files to ensure efficient and consistent reporting of fraud investigations in compliance with the Bank Secrecy Act Compliance Program. Team members interact frequently with customer-facing stakeholders, as well as law enforcement and authorities, and use case management software to track fraud from identification through recovery and resolution.

MAJOR DUTIES AND RESPONSIBILITIES (ESSENTIAL FUNCTIONS)

• Research, analyze, and investigate customer account behavior daily for potential fraud and suspicious activity from system-generated alerts and referrals escalated by other departments. Tracks trends and detects unusual activity or behavior, determining if transactions are fraudulent and / or suspicious in nature (e.g., deposit fraud, check fraud, online account takeover, wire fraud, ACH fraud).
• Compiles data and maintains necessary records and files to ensure efficient and consistent reporting of fraud investigations.
• Determines if a case should be created and / or escalated for SAR consideration. Obtains approval from the BSA Fraud Manager as necessary and assists with documentation within regulatory timeframes, adhering to the Bank Secrecy Act Compliance Program.
• Composes narratives to document potentially suspicious activity for reporting purposes and creates reports based on available information related to the investigation.
• Responds to inquiries or refers inquiries to the appropriate person and exhibits the necessary follow-through with internal and external customers. The specialist will explain fraud cases, answer questions related to fraud matters and communicate clearly and professionally. On occasion, urgent matters will need to be escalated. The Specialist will need to exercise sound judgment in determining the need to escalate.
• Processes disputes related to check fraud.
• Makes recommendations for closing / restricting accounts, placing holds, disabling account access through various channels, and performs associated follow-up to ensure the closure of the accounts.
• Liaise with internal partners, law enforcement, and other financial institutions to investigate fraud events.
• Processes restitution and recoveries.

ADDITIONAL DUTIES AND RESPONSIBILITIES

EMPLOYEE SPECIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and / or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and Work Experience

Technical / Functional Competencies

NOTE : This job description is not intended to be all-inclusive. Employees may perform other related duties as assigned by the supervisor to meet the ongoing needs of the organization.