Fraud Specialist

Description

Position Summary:

Responsible for the investigation of fraudulent, illegal or improper activities by internal or external means, and the prevention and recovery of losses sustained by such activities.

Essential Function and Responsibilities:

Conducts investigations of fraudulent activity to ensure minimal loss to the organization

This includes, but is not limited to:

Primary Responsibilities:

• Educates Credit Union employees to identify and respond to potential fraud situations.

• Develops, maintains and implements policies and procedures to detect and prevent the occurrence of fraudulent activity.

• Investigate Check fraud cases and electronic fraud cases

• Responsible for completion of necessary forms for submitting claims to the insurance company.  Provides documentation on non-insurable losses and initiates charge-off of items determined to be non-collectible. 

• Process fraud claims and checks and process restitution payments from court

• Balance the Accounts Receivable Collections ledger and prepare A/R collections report for accounting. 

• Communicate/Correspond with law enforcement, make police reports when necessary, appear in court for subpoenas

• Review, assess and re-mediate Verafin Alerts

• Provide SPARK! Member service, have strong communication skills (verbal and written) and be able to find solutions to difficult problems.

• Answer member questions, perform routine clerical duties, type standardized forms, research and operate office equipment.

• Understand and comply with all Federal and State laws and regulations including the Bank Secrecy Act, Patriot Act, and Office of Foreign Asset Controls, Reg E, Fair Credit and Fair Debt Collection 

• Liaison with Adult Protective Services for fraud perpetrated against the elderly and vulnerable

Requirements

Qualifications:

• Strong analytical skills with the ability to make sound decisions

• Ability to manage time and workload independently through good organizational skills

• Strong attention to detail and accuracy

• Ability to adhere to internal policies as well as external policies and regulations set forth by DIFS

• Self-motivation with the ability to effectively prioritize work and accomplish tasks autonomously

• Ability to learn new tasks and processes quickly and efficiently

• Excellent written and oral communication skills required

• Proficiency in Microsoft Software excel, word and office

• Professional demeanor with an understanding of the need for tact, discretion and confidentiality

Skills and Abilities:

• Ability to research and cross reference similar information to identify trends and proactively prevent loss

• Strong knowledge of Reg CC, D, E, and UCC with the ability to demonstrate how these regulations impact the job tasks

• Must be highly detail oriented and accurate

• Must be able to work independently 

• Must have strong technical capacity and thoroughness

• Comfortable learning and adapting to new systems, processes and change 

• Must be able to operate all basic office equipment

• Must comply with all federal and state laws and regulations including the Bank Secrecy Act, Patriot Act, Office of Foreign Asset Controls, FCRA, FDC and Graham Leach-Bliley.  

Interpersonal Skills:

• Courtesy, tact, and diplomacy are essential elements of the job. Work involves much personal contact with others inside and/or outside the organization for purposes of giving or obtaining information, building relationships, or soliciting cooperation.

Education: 

• High School or GED equivalency or higher

• Minimum one year experience in Fraud Investigation 

• Fraud data analytics desired

Mathematical Skills

• Ability to calculate figures and amounts such as add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals.  

Reasoning Abilities

• Ability to define problems, collect data, establish facts, and draw valid conclusions.

• Ability to interpret data, and assess patterns of members behavior across accounts to determine acts of improper dishonesty or fraudulent activity 

• Establish documentary and reporting practices to assist in Loss Prevention 

Certifications, Licenses

• Must be bondable. 

• Internal annual compliance testing required

Physical Demands

• The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Work Environment

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• The noise level in the work environment is professional and typically moderate

This job Description is not a complete statement of all duties and responsibilities comprising this position.