Fraud Risk Specialist- On Site Yuba City, CA

Summary

The primary focus of the Fraud Risk Specialist is to provide support to the Vice-President of Compliance and oversight of the Credit Unions Fraud, Loss, and Prevention programs. The Fraud Risk Specialist is responsible for detecting, reviewing, preventing, and reporting suspicious activity to help mitigate member and Credit Union losses through case investigations. The Fraud Risk Specialist will review payments and deposit activity to detect and prevent fraudulent transactions. This position will provide support and guidance for all suspicious or fraudulent activity for the Credit Union and is responsible for the operation of and processes related to fraud monitoring products and tools and responding to escalated calls and emails on fraud and suspicious activity issues from operational departments. The Fraud Risk Specialist is a highly collaborative position that partners with different risk experts of all levels and provides department support.

Essential Functions

• Utilizes manual and automated processes to detect, verify and contact members related to potentially suspicious transactions and/or activity with a sense of urgency in a fast-paced environment.
• Support the department mission by conducting investigations, analysis and responding to fraud cases, identifying points of compromise and potential loss to the credit union.
• Facilitate reporting to management, with every phase of the review process being closely documented based on established guidelines and/or procedures. Maintain accurate tracking of work performed, which will be used in department performance measurements.
• Review and resolve deposit fraud, account fraud, and card fraud case types within department expectations.
• Investigate and respond to check fraud claims as received by members and/or other financial institutions.
• Comply with all established internal audit, security and credit union rules, regulations, and departmental procedures.
• Maintain knowledge by keeping updated with required regulations or procedures through emails, publications, online resources, and procedure changes.
• Open and review fraud cases in Verafin based on alert activity. Ensure all steps are taken, and all cases are resolved within a reasonable time frame.
• Answer department phone calls and internal communications in a timely and professional manner.
• Identify, investigate, and document reports of unusual or suspicious member activity which would be in violation of BSA reporting requirements and report/assign to the appropriate team member(s).
• Utilize BSA reporting template to provide detailed reports and supporting documentation for potential SAR review and filing.
• Follow current fraud trends and gather information via industry events, forums, and publications.
• Work with other financial institutions, law enforcement, and processors to identify and mitigate fraud in the industry with the goal of reducing losses to the credit union.
• Maintain confidentiality of documentation and communications to and from members, other institutions, law enforcement, and vendors.
• Identify and report elder and dependent abuse concerns to leadership for potential timely mandate reporting.
• Maintain clear and accurate documentation of investigations for use in SAR or Law Enforcement reporting.
• Assists with the training of new staff and acts as a resource for all team members regarding a variety of loss prevention and fraud scenarios.
• Assists in development and facilitation of fraud prevention and awareness for all branch and HQ staff as applicable.
• Prepare police reports for all losses over the established thresholds or established behaviors outlined in department procedures.
• Work with law enforcement as required, providing updates or additional information as needed.
• Responds to law enforcement agencies and financial institutions requesting documentation and/or images to support investigations involving credit union losses.
• Attend applicable regulatory training, seminars, and/or conferences and read periodicals to maintain a current, thorough understanding of money laundering and terrorist financing issues, including policies, procedures, regulations, industry best practices, criminal activities and developing trends.
• Reviews and analyzes card and account fraud alerts provided by the Verafin monitoring system that identifies all accounts that may be engaging in or being targeted for illegal and/or fraudulent activity.
• Investigates, using analysis and judgment, to determine which course of action may be appropriate to limit potential losses to SCCU and our members. This includes but is not limited to check kiting, inactive accounts, new accounts, stolen check fraud, debit card fraud, remote banking fraud, and suspicious activity reports, watch lists, and risk management.
• Recognizes fraud trends and makes recommendations for modifications to systems to identify new fraudulent schemes arising from products/services or fraud patterns.
• Additional duties as assigned.

Requirements:

Required Skills and Abilities

• Must understand all aspects of the Bank Secrecy Act, Sanctions laws and regulations, including but not limited to the USA Patriot Act.
• Knowledge of Anti-Money Laundering regulations as well as OFAC regulations.
• Knowledge of credit union products, services, policies and procedures.
• Ability to perform high level complex tasks independently as well as with a team while using discretion in decision making and sound judgment in problem solving.
• Ability to effectively communicate verbally and in writing.
• Must be highly proficient with Microsoft Office products including Word, Excel, Outlook, and Verafin.
• Requires excellent analytical, evaluation, communication, and interpersonal skills as well as strong verbal and written communication skills.
• Previous experience with BSA case management and/ or database systems (maintaining and researching information), investigative and analytical experience preferred.
• Ability to speak and present in an effective manner.
• Must have excellent analytical, investigative, and problem-solving skills.
• Must have excellent written and oral communication skills.
• Flexible and self-motivated.
• Must be proficient operating computer systems and other general office machines.
• Excellent judgmental, prioritization and planning skills and capable of working within multiple deadlines.
• Ability to manage complex assignments independently and while also working effectively as a part of a team.
• Ability to effectively present information in one-on-one and small group situations to members, and other employees of the organization.
• Ability to maintain confidentiality in respect to the member's financial affairs.
• Must be available to adhere to a flexible schedule.

Education and Experience

• High school diploma or General Education Degree (GED).
• Three (3) or more years related experience; or the equivalent combination of education and experience; working knowledge of the BSA, USA Patriot ACT, OFAC, and related regulations. Work-related experience should consist of a financial institution operation, exceptional customer service background. Educational experience, through in-house training sessions, formal school, or financial industry related curriculum, should be business or financial industry related.
• Certified Fraud Examiner (CFE) certification preferred.

Physical Requirements and Work Environment

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

• Prolonged periods of sitting at a desk and working on a computer – 7 to 8 hours per day.
• Light lifting, carrying, pushing and/or pulling objects up to 25 lbs.
• Intermittent walking and bending.
• General office environment: works generally at a desk in a well-lighted, air-conditioned cubicle/office, with moderate noise levels.

The preceding list of duties does not include all tasks and responsibilities that may be required with this position. Additional tasks may be assigned, as departmental and operational needs require.