Account Fraud Investigator

Account Fraud Investigator

The Fraud Prevention Department supports the Credit Union through fraud monitoring and risk mitigation. Account Fraud Investigators will review accounts and transactions through various channels, such as bill pay, check, ACH, and wires to identify fraudulent activity and mitigate loss to the Credit Union and our members. New account opening, loan originations, remote activity (access and deposits) and other transactional activity are monitored and actioned to ensure members' funds are secure and that there is minimal risk of loss.

This position is able to work onsite, or hybrid (1-2 days / week) at our East Lansing Headquarters.

This position requires working a standard 40 hour week during hours of operations :

• Monday Thursday 8 : 30am - 6 : 30pm
• Friday 8 : 30am - 7 : 00pm
• Rotating Saturdays 8 : 00am-3 : 00pm

Employees working a Saturday receive a consistent day off during the week to offset their hours.

Scheduled hours could change based on business need and future department growth.

An offer of employment with MSU Federal Credit Union and affiliates is contingent upon the agreed work arrangement (onsite / hybrid / remote) and work location. MSU Federal Credit Union may or may not be able to accommodate temporary or permanent changes to work arrangements or allow employment outside the city and / or state of residency in which the new hire resides at the time of offered employment.

This position starts at $19.50+ / hour dependent on experience.

Review applications, access points, accounts, and transactions for fraudulent activity and take appropriate action, such as restricting account activity, to prevent fraud losses and recover funds.

Investigate fraud claims or potential losses incurred from check, ACH, bill pay, wire, M2M and other non-card payment channels and in accordance with laws, regulations, policies and procedures.

Interview members promptly and professionally over the phone, or through the Credit Union's messaging systems when working on fraudulent or potentially fraudulent account activity.

Provide account fraud expertise to service area employees in reviewing and taking action on potentially fraudulent activity.

Educate and advise members in making informed decisions about their account and personal identification information, including security, reporting and arrangements for resolving negative balances that result from fraud.

Handle escalated members' situations and take appropriate action to resolve them.

Complete projects assigned by management that produce quality and action driven results within deadlines provided.

Leverage knowledge from investigations to develop awareness and communicate understanding of emerging fraud trends in support of fraud mitigation strategies.

Accurately document and report all account review efforts, contacts with members and actions taken in a thorough and timely manner to ensure updated information is available to member serving and other employees and for management escalation.

Apply regulatory requirements under Regulations E and Z and perform due diligence in accordance with KYC / CIP guidelines when investigating fraud cases.

Understand the Credit Union's policies and procedures to ensure compliance and accountability for managing operational risks. Adhere to established internal controls and procedures to safeguard assets, prevent fraud, and maintain the integrity of credit union operations.

Perform other duties as assigned.

High school diploma or equivalent is required.

Bachelor's degree (or in pursuit of) in business, finance, criminal justice, or related area of study is preferred.

Prior experience in the financial industry required.

Core Competencies that must be demonstrated by all include Communicate, Navigate Change & Evolve, Solve Problems & Make Decisions, Plan, Prioritize, and Achieve, and Collaborate.

Functional Competencies :

Digital Literacy

Adopts, effectively uses, and champions new technology. Understands and shares technological information used within the position.

Time Management

Manages time and resources to ensure that work is completed efficiently.

Initiative

Takes proactive and prompt action to accomplish work goals. Takes action to achieve results beyond requirements.

Superior Service

Prioritizes and acts on the needs of members and employees. Sets the tone and establishes rapport. Acknowledges and clarifies while committing and providing guidance. Summarizes and closes the interaction positively.

Critical Thinking

Takes outside knowledge into account while evaluating information.

Detail Orientation

Ensures information is complete and accurate. Adheres to processes as outlined. Follows up to ensure quality and completion of work.

Change Management

Adjusts thinking and behavior to resiliently face change, and uses experience to fuel growth. Enables the process of change and transition while helping others deal with its effects. Displays self-awareness of their personal reaction to change and regulates their response. Acts as a change champion, communicating the why behind the change and aligning with organizational direction.

Self Awareness

Self-reflects on behavior and how emotions affect others. Situationally modifies behavior to improve outcomes and build relationships. Knows, leverages, and displays strengths and vulnerabilities.

Teamwork

Works well with internal and cross-functional teams to achieve individual, team, department, and / or organizational goals. Values diverse perspectives and working with others to achieve the best outcome possible.

May be required to remain in a stationary position for an extended period.

Ability to operate standard office technology, equipment, and tools, which may include many hours of computer and phone usage.

Occasionally needs to move about inside of an office area.

Exposure to potentially hazardous conditions, i.e. robbery. Receives detailed instructions and procedures to be followed to minimize the exposure.

This position can work in hybrid or onsite working arrangements.

Please note this job description is not intended to be construed as an exhaustive list of all functions, responsibilities, skills, and abilities. Additional functions and requirements may be assigned by supervisors as deemed appropriate. This document does not represent a contract of employment, and MSU Federal Credit Union reserves the right to change this position description and / or assign tasks for the employee to perform, as MSUFCU may deem appropriate.

MSUFCU is an affirmative-action, equal-opportunity employer.

To perform this job successfully, an individual must be able to perform each essential job duty satisfactorily. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform essential job functions.