Fraud Analyst I

About the role

A Fraud Analyst I at GTE Financial is responsible for analysis, investigation, reporting, and resolution of various types of fraudulent activity, including fraud/forgery, identity theft, loan fraud, check fraud, plastic card fraud, and other suspicious activity. The role requires informed decision-making within the scope of authority, emphasizing regulatory compliance, risk mitigation, and fraud/loss prevention. The position demands thorough knowledge of the FACT Act, USA Patriot Act, Federal Regulation CC, Federal Regulations E and Z, and applicable MasterCard Rules.

Responsibilities

• Independently perform in-depth analysis and investigation of member account activity, automated reports, or third-party software to detect and report suspicious activity and prevent fraud and losses.
• Provide guidance on fraud-related matters to internal and external customers.
• Act with authority to reverse transactions, refund fees, grant provisional and final credits, restrict member privileges, or close accounts in cases of suspected or confirmed fraudulent activity.
• Support investigations by adding thorough, detailed, and factual notes to related accounts, documenting the investigation process, communications, and conclusions.
• Collect and retain data/analytics related to investigations to detect, prevent, or minimize fraud losses.
• Process plastic card fraud claims in compliance with Federal Regulation E, Federal Regulation Z, and MasterCard rules.
• Review and identify Common Points of Purchase (CPP) for card compromises and report findings to Mastercard.
• Support internal and external customers regarding fraudulent or suspicious activity via phone, email, or other communication channels.
• Interface with law enforcement, government agencies, merchants, and other financial institutions for fraud detection and deterrence.
• Prepare and submit criminal complaints to law enforcement, the State Attorney’s Office (SAO), and other entities, as applicable.
• Complete victim impact statements for the SAO and testify as a witness in civil and criminal proceedings on behalf of GTE, if required.
• Follow up on subpoenas and court updates.
• Determine when a Suspicious Activity Report (SAR) needs to be filed and pass applicable information to the BSA team for SAR creation.
• Ensure compliance with the USA Patriot Act, FACT Act, Federal Regulations E and CC, and other applicable laws and regulatory requirements.
• Assist in special projects as requested and perform other related duties as assigned.
• Demonstrate functional knowledge of the Bank Secrecy Act, U.S. Patriot Act, Office of Foreign Assets & Control, Anti-Money Laundering, Right to Financial Privacy Act, and the Bank Bribery Act.

Qualifications

• Undergraduate degree from an accredited college or university or a high school diploma (or equivalent) with 1–3 years of applicable work experience in fraud prevention and/or risk management, or a combination of education and experience.
• Project management experience is desired.

Skills

• Excellent and professional communication, interpersonal, and organizational skills.
• Effective communication with business partners, staff, and members.
• Commitment to supporting a positive, efficient, and professional team environment.
• Ability to maintain ongoing communication with supervisors/managers regarding pertinent problems, irregularities, or developments.
• Highest level of confidentiality in all job-related matters.
• Thorough understanding of credit union and departmental policies and procedures.

Schedule

Full-time, Monday–Friday (8:00 AM to 5:00 PM), with additional hours as necessary. The position is hybrid (in-office or remote) and may be adjusted by management with appropriate notice.

Requirements for Remote/Hybrid Work

• A quiet workplace to focus on delivering excellent service to members.
• Performance standards may apply to qualify for alternative work arrangements.
• Power and high-speed internet over 100MB (minimum).
• Video capability with a recommended connection of 1.5 Mbps up and down.
• Candidates must provide and meet all technical requirements prior to the first day of training.
• Hybrid candidates must live within driving distance of the office location and be able to commute regularly as needed.