Fraud Investigator

Location: Newtown, CT

Newtown Savings Bank is seeking an
experienced financial crime investigator
to join our Fraud Department as a
Fraud Investigator
.  This position is responsible for is responsible for various day-to-day Fraud investigations, reports and systems.  Responsibilities include monitoring, preventing and reporting fraud events and insuring adherence to related laws and regulations including UDAP, FACTA, Regulation E and Regulation CC.

Major responsibilities include maintaining/enhancing fraud activity detection systems/processes under the direction of the Fraud Operations Manager to reduce the severity/predictability of losses; ensuring that action is taken on possible loss or suspicious activity situations in a timely and efficient manner and analyzing complex data and recommending a course of action to Manager based on findings.

Responsible for the day-to-day monitoring of reported events and the detection systems to include analysis, prevention measures and the reporting of fraud statistics.  Insure adherence to fraud policy, procedure and the related laws and regulations.   Manage fraud events that must be reported to local law enforcement. Conduct fraud investigations for SAR/Non SAR recommendations and prepare accurate and timely SARs prior to management review and submission to FinCEN.  Duties are also identity theft prevention and management, dispute error resolution oversight, and check fraud.   In addition, aid in developing/executing customer/retail banking employee fraud awareness training.

The Fraud Investigator will also assist the Fraud Operations Manager with meeting Departmental deadlines and reporting and assist in managing the fraud department in the absence of management.  
This is an onsite opportunity at our corporate office in Newtown, CT. The role has a remote option of one day per week.

PRIMARY RESPONSIBILITIES

• Analysis - Monitors and analyzes or oversees Analysts review of selected daily fraud detection system results in a timely manner.   Duties include performing thorough research on items flagged as potentially suspicious and escalating findings to Fraud Operations Manager as needed. Consults with coworkers and other departments as needed to ensure all information is considered prior to decision making.
• Dispute Resolution - Oversee Dispute Specialist in timely and accurate processing and investigation of disputes.
• Case Management - Maintains detailed case notes and documentation including all communications between business units and/or customers and documentary support of findings. Exercises solid judgment while examining, identifying and documenting fraud/suspicious account activity behaviors and patterns
• Communications - Interacts with internal and external customers to decision transactions; performs appropriate actions required to mitigate losses; and provides a positive customer experience. Communicates with victims and potential fraud suspects during the investigation process.   Participates in selected fraud networks and reports meeting results to the Fraud Operations Manager.
• Investigations - Processes/investigates potential fraud/suspicious activity cases identified by bank employees or through other means. Ensures that action is taken on possible loss/fraud situations in a timely and efficient manner while adhering to all Bank/regulatory rules regarding customer privacy recommends a course of action to Manager based on findings analysis and prepares thorough documentation regarding each major incident.  Analytics include applying a thorough understanding of industry norms, historical customer activity and regulatory definitions of suspicious activity.  Analyze evidence thoroughly.
• Monitoring/reporting - Monitors alerts when activity appears unusual, including but not limited to the following sources:  monitoring solutions, customer reports, branch or other bank employee notifications, and other suspicious activity detection sources. Use reports and alerts to spot patterns and trends escalates findings to Fraud Operations Manager as needed.
• Ensure fraud events are reported to local law enforcement (as applicable); responsible to manage cases to final resolution.
• Insure timely, regulatory compliance for fraud events including, but not specific to debit card error resolution and check fraud.
• Regulatory - Assists Manager with audit and exam preparations and participates in audits/exams as needed.  Stays current with changes in regulations and fraud trends; and assists Manager in developing related procedures or revisions to the Fraud programs.
• Risk Assessments and Board Reports - Responsibilities include assisting Fraud Operations Manager in preparing various reports and risk assessments as needed.
• Suspicious Activity Reporting (SAR)/Fraud Incident - Prepares thorough case notes and documentation to support SAR/Non-SAR recommendations; assist with the preparation accurate and timely SARs according to standards established by the Bank's BSA Officer.
• System Validation - Assists the Fraud Operations Manager with periodic parameter reviews Fraud detection systems data/model validations to insure effective and efficient detection efforts. Also responsible for release/parameter change testing/verification.
• Training - Assists Manager in preparing and/or coordinating Fraud training materials, if applicable delivers training.
• Statistical reporting - Prepares accurate and timely statistical reports.
• Prepares and/or coordinates Fraud training materials and delivers training (when necessary).
• Assist with the overall daily, monthly operational efficiency for the Fraud Analyst(s) as necessary.
• Assist with overall operational efficiency of the Fraud Analyst(s) as well as audit requirements and results.

POSITION REQUIREMENTS

• Bachelor's Degree or its equivalent plus 3-5 years of financial crime investigation experience in the private or public sector.
• Industry recognized certifications (CFE or CFCI or its equivalent is preferred but not required).
• Ability to work well under pressure and meet assigned deadlines.
• Proven initiative to be able to multi-task and work independently/self-starter, have a pro-active approach as well as communicate well with customers and co-workers; familiarity with Lexis Nexis, Verafin, Centrix DTS a plus.
• Requires thorough knowledge of fraud management and prevention, FACTA Regulation E, Regulation CC, UDAP, Bank Secrecy Act regulations, and all associated regulations and interpretations.
• Detail oriented, strong and organized research, investigative and analytical skills.
• The ability to maintain confidential information
• Technologically proficient and experienced in closed-source and open-sourced research channels
• Flexible Hours as required

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.  The requirements listed above are representative of the knowledge, skill, and/or ability required.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Any physical demands or work conditions 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.

Full time employees also receive a complete benefit package including a generous 401(k), medical benefits, paid time off, and short- and long-term disability programs.

Newtown Savings Bank is an equal opportunity employer and complies with affirmative action programs for qualified veterans and individuals with disabilities. Newtown Savings Bank shall not discriminate against any employee or applicant for employment based on race, color, religion, gender, age, marital status, national origin/ancestry, sexual orientation, gender identity, disability status, protected veteran status, or any other legally protected status.