Fraud Prevention Analyst

2 weeks ago

Minneapolis, Minnesota, United States Park State Bank Full time

CORE VALUES: At Park State Bank, we uphold our core values of GROWTH, TEAMWORK, RESPONSIVENESS, TRANSPARENCY, and INNOVATION in every aspect of our operations.

MISSION: Our mission is to provide outstanding client service, strategic banking solutions, and a community-oriented experience.

POSITION SUMMARY: The Fraud Specialist is essential in protecting our institution and clients from fraudulent activities by executing robust fraud management processes. This role encompasses monitoring transactions, probing suspicious activities, and working alongside various teams to ensure the safety of the bank and its customers. The ideal candidate will possess a sharp eye for detecting irregularities, excellent verbal and written communication skills, analytical capabilities, and a dedication to upholding the highest security standards for our clients and the organization.

PRIMARY RESPONSIBILITIES:

  1. Strategy Development: Formulate and implement extensive fraud prevention strategies and frameworks. Establish policies and procedures that mitigate fraud risk and comply with industry best practices.
  2. Fraud Detection: Scrutinize and evaluate transactions, customer accounts, and financial activities to uncover potential fraudulent behavior.
  3. Investigation: Execute comprehensive investigations of suspicious activities, including reviewing transaction histories and customer profiles to validate claims.
  4. Reporting: Generate and submit detailed reports on suspected fraudulent activities and findings, documenting investigation outcomes and recommendations.
  5. Communication: Collaborate with internal departments, including Retail, Compliance/BSA, Deposit Operations, and IT, to exchange information and coordinate fraud prevention initiatives.
  6. Compliance: Ensure strict compliance with all applicable laws, regulations, and industry standards related to fraud investigation and prevention.
  7. Evidence Management: Maintain a secure and organized system for the storage of evidence and documentation pertinent to fraud cases.
  8. Training and Awareness: Offer guidance and support to staff and clients regarding the identification and response to fraudulent activities, promoting security best practices to safeguard clients and their personal information.
  9. Continuous Improvement: Stay informed about emerging fraud trends and techniques, recommending enhancements to fraud prevention measures.

WORKING CONDITIONS: The role is primarily conducted within the bank, with minimal risk of personal injury. It requires prolonged mental and visual concentration and may involve stressful situations due to multiple priorities within set deadlines. Standard working hours are during business hours, with occasional evening and weekend work necessary to meet the needs of clients and staff. Some travel between offices and out-of-town business trips may be required, and the ability to lift and move up to 20 pounds of office supplies and equipment is necessary.

ROLE QUALIFICATIONS:

Education:

  • Preferred: 2- or 4-year degree in accounting or business.
  • Preferred: Certified Fraud Specialist (CFS).

Experience:

A minimum of 3 years in financial services, with prior experience in fraud prevention, detection, or investigation strongly preferred.

Skills and Abilities:

  • Strong analytical and critical thinking capabilities.
  • Attention to detail and ability to work independently.
  • Familiarity with relevant fraud detection tools and software.
  • Knowledge of banking regulations and security protocols.
  • Excellent communication, writing, and listening skills.
  • Ability to maintain confidentiality and manage sensitive information.
  • Resourceful, well-organized, and capable of multitasking.

PERFORMANCE MEASURES:

  • Timely execution of assigned tasks and participation in meetings.
  • Demonstration of core values.
  • Management of fraud loss volume.
  • Audit performance.

This position description outlines the general nature and level of work performed by the employee in this role and should not be interpreted as exhaustive. It does not imply that these are the only duties and responsibilities assigned to the position. The employee may be required to perform other job-related tasks as necessary.

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