Fraud Specialist

Description

Job Title: Fraud Specialist

Department: Risk

Reports to: Fraud Manager

Hours per Week:38 hours per week/hourly

Company Summary

Welcome to Financial Plus Credit Union (FPCU) – 'The Place where it’s Possible.'

At FPCU, we believe in the power of collaboration, embrace inclusivity as a strength, and are driven by a shared commitment to success. Our community-centered approach goes beyond financial services; it's about fostering connections and making a positive impact.

Join us, and be part of an environment that prioritizes wellness, encourages continuous learning, and opens doors to developing you into the person you want to be. Explore the opportunities that await you at FPCU – where you aren’t just making a living but joining a PLACE where you can REACH your goals.

Position Summary

Responsible for the investigation of fraudulent, illegal or improper activities by internal or external means, and the prevention and recovery of losses sustained by such activities.

Essential Functions & Primary Responsibilities

• Educate Credit Union employees to identify and respond to potential fraud situations
• Conduct in-depth analysis of transactions to identify potentially fraudulent activities and patterns
• Develop, maintain and implement policies and procedures to detect and prevent the occurrence of fraudulent activity
• Responsible for completion of necessary forms for submitting claims to the insurance company. Provides documentation on non-insurable losses and initiates charge-off of items determined to be non-collectable
• Utilize banking systems to investigate and research all transactional information for fraud claims
• Balance the Accounts Receivable Collections ledger and prepare A/R collections report for accounting
• Communicate/Correspond with law enforcement, file police reports, and appear in court when necessary
• Review, assess and remediate Fraud Software Alerts
• Stay abreast of industry trends, regulatory changes and emerging fraud tactics to continuously improve fraud prevention efforts
• Provide SPARK! Member service, have strong communication skills (verbal and written) and be able to find solutions to difficult problems
• Answer questions, perform routine clerical duties, type standardized forms, research and operate office equipment
• Liaison with Adult Protective Services for fraud perpetrated against the elderly and vulnerable
  
  

Requirements

Education and Qualifications

• High School or GED equivalency or higher
• Minimum one year experience in Fraud Investigation
• Fraud data analytics desired
• Must be bondable
  
  

Skills And Abilities

• Courtesy, tact, and diplomacy are essential elements of the job. Work involves much personal contact with others inside and/or outside the organization for purposes of giving or obtaining information, building relationships, or soliciting cooperation
• Ability to research and cross reference similar information to identify trends and proactively prevent loss
• Must have strong analytical skills with the ability to make sound decisions, along with a strong attention to detail and accuracy
• Comfortable learning and adapting to new systems, processes and change
• Must comply with all federal and state laws and regulations including the Bank Secrecy Act, Patriot Act, Office of Foreign Asset Controls, FCRA, FDC and Graham Leach-Bliley. Strong knowledge of Reg CC, D, E, and UCC with the ability to demonstrate how these regulations impact job tasks
• Knowledge of industry trends and regulatory requirements related to fraud prevention as set forth by DIFS
• Ability to manage time and workload independently through good organizational skills
• Self-motivation with the ability to effectively prioritize work and accomplish tasks autonomously
• Excellent written and oral communication skills required
• Proficiency in Microsoft Software excel, word and office
• Professional demeanor with an understanding of the need for tact, discretion and confidentiality
  
  

Physical Demands & Work Environment

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

• Sedentary work; sitting most of the time. Exerts up to 10+ pounds of force occasionally
• The noise level in the work environment is professional and typically moderate
  
  

This job Description is not a complete statement of all duties and responsibilities comprising this position.