Commercial Bank Fraud Investigator

The Role

The Fraud Specialist/Investigator serves as the primary point of contact for all fraud-related events and is responsible for coordinating the fraud investigation process from initial customer intake through research, case assignment, escalation, and resolution. This role plays a central coordination function, ensuring timely communication and action among internal stakeholders, including Relationship Management, Operations, Treasury Management, BSA/AML, Risk Management, Compliance, and other key partners.

Key Responsibilities

• Serve as the first point of contact for all reported fraud events, coordinating investigations from customer fraud intake through resolution
• Manage fraud referrals, including intake, research, case creation, assignment, and notification of relevant internal stakeholders for required action
• Conduct end-to-end fraud investigations, including transactional analysis across deposit, payment, and digital banking channels
• Independently review, analyze, and disposition fraud alerts generated by Verafin and related monitoring systems
• Open, track, and resolve fraud cases while maintaining complete and well-supported investigative documentation for management review and potential law enforcement referrals
• Communicate effectively with internal teams, customers, and external partners to obtain information necessary to support investigations
• Collaborate with Operations, BSA/AML, Risk & Compliance, Treasury Management, IT, and frontline teams to support fraud detection, response, and prevention efforts
• Provide fraud-related guidance and support to frontline and operational staff, including identifying suspicious activity and compliance concerns
• Adhere to BSA/AML and OFAC policies and procedures, including escalation and reporting of suspicious activity as appropriate
• Perform Customer Identification Program (CIP), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) reviews, including customer risk rating assessments and ongoing monitoring of higher-risk customers
• Maintain accurate, timely, and audit-ready case documentation to meet regulatory, audit, and examination standards
• Aid in the development and enhancement of fraud-related policies, procedures, and risk mitigation strategies
• Stay current on regulatory requirements, emerging fraud trends, and industry best practices

Qualifications

• Education & Experience: Bachelor's degree preferred or equivalent experience in fraud investigations preferred. 3 – 5 years of experience in bank operations, fraud investigations, BSA/AML compliance, or financial crimes within a financial institution (banking or credit unions experience preferred).
• Skills & Competencies: Strong analytical and critical-thinking skills with ability to identify patterns, and anomalies; Knowledge of BSA/AML regulations, OFAC requirements, and fraud typologies; Experience with fraud detection or transaction monitoring systems (Verafin preferred); Excellent written and verbal communication skills for interacting with customers, and staff; Ability to work with confidential information while exercising sound judgment; Working knowledge of bank operations, primarily deposits and payment products; Proficiency in Microsoft Office applications including Excel and Word; Preferred credential: CAMS, CFE, or other fraud or AML certifications.