Fraud Detection Specialist

1 week ago

Chicago, Illinois, United States Byline Bank Full time

Position Overview:

The Fraud Detection Specialist collaborates with all Byline Bank personnel to protect the institution and its clients from fraudulent activities. In this role, you will delve into illegal actions committed by customers and/or staff, while also having the chance to enhance processes aimed at mitigating high-risk fraud and recovering losses.

Key Responsibilities:

  • Conduct thorough manual reviews to identify fraudulent transactions.
  • Perform independent investigations into suspicious activities, including but not limited to check fraud, ACH fraud, wire fraud, eBanking, Zelle transactions, and elder financial exploitation.
  • Timely complete assigned fraud alerts and case investigations.
  • Prepare Suspicious Activity Reports (SARs) and conduct follow-up reviews as required.
  • Evaluate queued transactions to ascertain their legitimacy.
  • Maintain oversight of Red Flag cases and Concern Reports.
  • Support basic eCommerce responsibilities, including chargeback management and ATM/Mobile deposit reviews.
  • Analyze customer banking activities to identify patterns indicative of suspicious behavior.
  • Execute specialized reporting and tasks as directed by leadership.

Essential Qualifications:

  • A Bachelor’s Degree is required, along with a minimum of 5 years of banking experience, particularly in Fraud, Loss Mitigation, and compliance with the Bank Secrecy Act.
  • Strong skills in time management and organization, with the ability to maintain composure under pressure and meet multiple deadlines.
  • Expertise in gathering and assessing information to reach logical conclusions.
  • Excellent verbal and written communication skills, including active listening and the ability to present findings effectively.
  • Ability to convey the relevance of Fraud issues to frontline staff for practical application.
  • Up-to-date knowledge of fraud trends, theories, and practices.
  • Proficiency in Microsoft Word, Excel, and other financial systems.
  • Capability to communicate effectively with colleagues and the BSA Officer regarding findings and issues.
  • Certification as a Fraud Examiner (CFE) is highly preferred; if not already obtained, it will be required within a reasonable timeframe from the start date.

Skills and Abilities:

  • Ability to collect and analyze complex data, evaluate information, and draw logical conclusions.
  • Effective communication skills to relay the significance of Fraud issues to frontline personnel.
  • Strong planning and project management skills, with the ability to remain composed under pressure.
  • Research skills to address issues and propose solutions.
  • Capacity to handle confidential information responsibly.

Byline Bank offers competitive salary ranges aimed at attracting and retaining talented individuals. The salary for this position is between $50,000 and $65,000, influenced by factors such as education, experience, and certifications. Alongside salary, Byline Bank provides a comprehensive benefits package, including incentive programs, equity stock purchase options, and 401k contributions, all subject to eligibility criteria.

Byline Bank is dedicated to ensuring equal employment opportunities for all employees and fostering a work environment free from discrimination and harassment. All employment decisions are based on business needs, job requirements, and individual qualifications, without regard to any protected characteristics.

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