The Fraud Analyst is responsible for early detection and prevention of losses through an in-depth analysis of suspect transactions identified by the Bank’s fraud transaction monitoring systems or reported by other Bank personnel. Detects, researches, monitors and disputes suspicious activity in keeping with the Bank’s established procedures to prevent Electronic Banking fraud including lost, stolen or counterfeit cards; ATM fraud; fraudulent online account openings or account takeovers; identify theft; and other forms of suspicious deposit account activity. Also, responsible for generating and working fraud-related reports as well as assisting in rule creation and fraud analysis models to detect and prevent fraudulent transactions.
Essential Job Duties & Responsibilities
- Researches and monitors suspicious activity on debit cards, online and mobile banking accounts, or electronic payment functions including tokenized transactions, positive pay, and electronic bill payments.
- Monitors real time queues and identifies high risk transactions.
- Detects, disputes and prevents fraud including lost, stolen or counterfeit cards; ATM fraud; fraudulent account openings or account takeovers; identify theft; and other forms of suspicious deposit account activity.
- Works directly with other Bank personnel in the resolution of fraud cases, including providing general step-by-step knowledge, recurring comprehensive support, positive feedback, timely consultation on alternatives and following up on results of case conclusions.
- Generates and works risk reports to track and prevent fraud.
- Reviews and processes various alerts including but not limited to Compromised Account Management Systems (CAMS) alerts and merchant breach alerts.
- Informs senior management about fraud trends.
- Reads, references, interprets, and helps develop written departmental procedures and makes suggestions to correct or enhance existing processes.
- Creates and maintains fraud analysis models to improve efficiency and effectiveness.
- Recommends new software tools used for fraud detection and prevention.
- When there are issues with any of the Bank’s mitigation systems, serves as the liaison between the third-party vendors and the bank.
- Maintains current knowledge of financial products, services, and delivery methods utilized by the Bank.
- Three years banking experience with knowledge of bank products, financial transactions, deposit operations and fraud mitigation required
- Experience using Jack Henry Banking products, including Yellow Hammer Fraud Detective strongly preferred
Education, Licensure & Certification Needed:
- High School diploma required, bachelor's degree or equivalent experience preferred
- Fraud Certification preferred
Skills & Abilities Needed:
- Familiar with various regulations and policies related to cybersecurity for the financial industry
- Ability to work with some guidance required
- Exceptional written and verbal communication skills for interactions at all levels across the organization
- Must be resourceful, creative, innovative, results driven, and adaptable
- Ability to perform problem solving in a complex environment by using business understanding and good judgment