SUMMARY:
The Fraud Investigator I position is a key role in the Fraud Investigations Unit of the Corporate Fraud Division. This position is responsible for conducting comprehensive external fraud investigations on check fraud, wire fraud, account take over, identity theft, new account fraud, elderly exploitation, and other types of fraud, to detect and prevent fraud losses to the bank and the customer.
They are responsible for:
- Reviewing all allegations of suspected fraud
- Analyzing data, making critical decisions, and interviewing witnesses, suspects, employees, and other related parties
- Reporting findings, taking appropriate action, and effectively managing cases
- Facilitating fraud recovery to minimize losses to the bank and its customers
- Performing general account handling functions such as close account determination, holds, restraints, etc.
- Contacting customers and other bank associates to confirm the legitimacy of high-risk transactions
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following:
- Investigate and manage external fraud investigations, such as check fraud, new account fraud, elder exploitation, wire fraud, online take over, and other, ensuring cases are handled timely and documented accurately with a concise case summary, following existing procedures.
- Conduct research, compile, save, and retrieve data for the preparation of investigative reports for assigned cases.
- Review surveillance systems and extract photos/videos for use by the bank and law enforcement personnel.
- Use internal and external resources to obtain forensic evidence for investigative purposes when reviewing fraud detection reports or investigating cases.
- Notify and work with law enforcement and prosecutor’s office regarding criminal cases to ensure proper resolution.
- May attend criminal and civil court proceedings as necessary to complete the prosecution of cases.
- Conduct interviews of employees, suspects, witnesses, and other related parties.
- Facilitate fraud recovery efforts to minimize losses to the bank and the customers.
- May prepare and submit Suspicious Referral Forms (SRF) for final submission of SARs as required. Proper SAR determination is essential.
- Provide business lines with support and guidance associated with fraud incidents and any reported unusual/suspicious activity.
- Provide guidance to customer victims on the appropriate course of action and provide fraud prevention counseling as needed (i.e. ID Theft, wire fraud, malware, phishing).
- Remain current with arising fraud trends and activities by attending networking workshops and/or training.
- May participate in the Bank’s Business Continuity Plan and Emergency Response plan as needed.
- May assist the Fraud Operations Unit with fraud monitoring and fraud analysis report management if needed.
- Perform any other assignments as directed by Fraud Investigations Team Lead or the Fraud Investigations Unit Manager.
- May travel to off-site locations for investigative purposes.
- Prioritize tasks to ensure deadlines and expectations are met.
- Work cases with a sense of urgency while ensuring the accuracy of information.
- Maintain confidentiality surrounding fraud methods and investigations.
- Build effective relationships with internal/external stakeholders (e.g. law enforcement agencies and other Financial Institutions to collaborate in investigations).
- Network and develop effective contacts in the private, public and government sector, to assist in fraud investigations.
- Adhere to and comply with applicable, federal and state laws, regulations and guidance, including those related to anti-money laundering (i.e. Bank Secrecy Act, US PATRIOT Act, etc.).
- Adhere to Bank policies and procedures and complete required training.
- Identify and report suspicious activity.
EDUCATION
College Degree (Criminal Justice/Cybersecurity) preferred Or 3-5 years prior fraud investigation experience in financial institution preferred
EXPERIENCE
Must have experience in the areas of check fraud, Identity Theft, ATM/Debit card fraud, bank operations and other related fraud
Must have experience with the recovery rights for various types of check fraud (altered, forged and endorsement) and EFT claims (ACH and Debit/ATM)
KNOWLEDGE, SKILLS AND ABILITIES
- Strong understanding of financial transactions
- Working knowledge of bank products, services, bank systems and transaction types.
- Strong verbal and written communication skills.
- Detail oriented with strong research and problem solving skills.
- Must be knowledgeable of Regulations/Acts that pertain to the job functions, which include, but are not limited to, Regulations E, CC, and Bank Secrecy Act.
- Knowledge and understanding of State and Federal Criminal Statutes.
