Fraud Analyst

Description of Work:

The Fraud Analyst specializes in researching and analyzing customer account activity, identifying irregular patterns, recognizing potential cases of fraud and to prevent future fraud.

Major Duties and Responsibilities:

• Analyze and monitor daily reports generated by various fraud detection tools, to detect fraudulent transactions and take the appropriate action according to applicable procedures.

• Leverage data and analytics to uncover patterns, trends and insights to mitigate and prevent fraud.

• Review customer transaction history to identify fraudulent account activity.

• Apply strong analytical skills in the assessment of fraud and transactional data

• Exercise good judgement to independently resolve problems that require in-depth investigation and/or research.

• Utilize fraud detection software to manage fraud investigations.

• Contact and effectively communicate with customers as needed via multiple channels to validate information and confirm authorization of transactions or other account activity.

• Interview and elicit information from customers and/or staff to resolve questions.

• Use internal and external resources to obtain forensic evidence for investigative purposes when reviewing fraud detection reports or investigating cases.

• Complete fraud case investigations, including but not limited to writing reports and documenting evidence and findings.

• Case details and notes are to be accurate, clear, and concise.

• Track monetary fraud exposure for each case assigned including but not limited to potential loss, prevented loss, actual loss, and recovered loss.

• Create Suspicious Activity Reporting (SAR) narratives for cases in which regulatory reporting is applicable.

• Maintain adherence to alert and case timeframes as defined by bank policy and procedures.

• Perform quality assurance reviews on peer work output.

• Builds and maintains relationships between outside departments, cultivating a culture of collaborations, transparency and mutual success.

• Leverage knowledge of information acquired to identify potential process gaps and opportunities for improving effectiveness of controls and processes

• Stays abreast of changing fraud patterns or regulations in the field.

• Assists with authoring procedures relating to fraud monitoring.

• Ensure compliance with all regulations, policies, and procedures. Perform additional accountabilities as required.

Non-Essential Responsibilities:

• Perform other related functions as required by the manager.

Minimum Qualifications:

• Bachelor's degree in finance/ related field or equivalent experience and minimum 2 years' Retail Banking/ Risk Management experience
• 1-year previous e-commerce fraud prevention, investigation, or retail fraud prevention experience.

Knowledge, Skills and Abilities:

• In-depth knowledge of bank operations and procedures required.

• Advanced knowledge of banking operations, including check, ACH, Merchant Capture, wire, and other payment channel operating rules.

• Self-starter with demonstrated ability to work both independently and efficiently.

• Outstanding time management and interpersonal skills, and the ability to work with all levels in the organization.

• Possess excellent oral and written communication skills.

• Requires the discretion to handle highly confidential and sensitive material.

• Must be organized, detail oriented; exhibit flexibility and willingness to work at rapid pace.

• Excellent critical thinking and problem-solving skills.

• Proficient in Microsoft Office (i.e., Excel, Word, PowerPoint, and Outlook) with an aptitude for learning other systems.

• Experience with Verafin Fraud and BSA/AML software is preferred.

• Finds a high-volume, dynamic, and team-focused environment engaging.

Pay Range: $55,000 - $65,000

Hours: 37.50

This is a non-exempt position, eligible for overtime if the hours worked are over 40 hours.

The actual compensation will be based on qualifications, experience and other factors permitted by law.

EOE, including Disabled and Veterans

Other details

• Pay Type Salary

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• Uniondale, NY, USA