HELOC Fraud Prevention Specialist
2 weeks ago
The Fraud Analyst at Cenlar plays a critical role in ensuring the efficient and effective functioning of HELOC specific and inter-departmental processes and controls to prevent fraud. This position is responsible for managing project-related activities related to Cenlar/HELOC Fraud prevention process improvements and client-driven process enhancements.
Key Responsibilities:- Reviews, resolves, documents, and evaluates trending reports related to client, customer, and internal requests submitted via designated HELOC email addresses while proactively documenting potential fraud.
- Assesses procedural, financial, and reputational risks related to new compliance, client, and internal requirements on existing HELOC procedures to determine impacts on Fraud avoidance and awareness.
- Interacts with customer-facing business units to identify, quantify, validate, discuss, research, and resolve customer and/or client-related Fraud issues escalated through verbal and written communications.
- Collaborates with Legal, Audit, Compliance, and BSA to assess, strategize, develop, test, and report on Fraud controls related to HELOC processes and other industry-defined HELOC threats.
- Conducts annual reviews of existing HELOC policies, procedures, and controls to ensure documents are updated, relevant, and representative of the processes and controls being performed by the HELOC team to prevent Fraud losses.
- Provides HELOC Fraud-related project management support to ensure defined projects are properly documented, tracked, managed, tested, and communicated to internal and external stakeholders.
- Researches, reviews, and escalates potential Fraud-related matters identified through internal and external resources.
- Researches, reviews, and drafts responses to internal and external Fraud requests and findings.
- Coordinates loan renumbering events for Clients and borrowers when Fraud is detected.
- Assesses risk when business decisions are made, including compliance and operational risk, and demonstrates consideration for Cenlar's reputation and clients by driving compliance with applicable laws, rules, and regulations.
- Bachelor's degree or equivalent work experience.
- 3-5 years of mortgage servicing experience.
- 2-3 years of Fraud detection, analysis, or mitigation preferred.
- Strong analytic skills to identify patterns.
- Ability to multitask in a fast-paced environment.
- Excellent written and verbal communication skills.
- Management skills, including motivation, follow-up, setting expectations, delegation, and time management.
- Strong commitment to Excellent Customer Service.
- Results-oriented.
- Understanding of requirements under the Truth and Lending Act (TILA), specifically billing errors and resolution, and the treatment of credit balances.
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