Fraud Investigator

Division: Risk Management    Department: BSA/Fraud    Reports to: Fraud Investigations Manager    Status: Exempt    Grade: 9E

Pay Range: $52,000–$90,498. Actual compensation within the range will be determined based on skills, prior relevant experience, and specific work location.

Location: MA, NY, RI, CT

About the Role

As a member of the Financial Intelligence Unit’s Fraud Investigations Team, the incumbent is responsible for handling all aspects of the fraud investigation process—including incident intake, advising on best practices for remediation, case management, and completion of regulatory reports. The Fraud Investigator is also responsible for recoveries of funds lost to fraud.

Responsibilities

• Investigate fraud referrals/incidents and perform necessary research; efficiently arriving at sound risk-based conclusions in order to minimize fraud losses.
• Clearly document and support judgments, decisions, and rationale, which will necessitate strong writing skills.
• Create and maintain well-documented fraud cases.
• Work with other financial institutions in order to promote recovery of fraudulent funds and mitigate losses.
• Collaborate with other business lines to ensure proper risk management and fraud controls are practiced.
• Escalate issues and situations requiring the attention of the Fraud Operations and Investigations Manager or BSA Officer.
• Provide support and guidance to bank employees and management relating to fraud detection and prevention measures.
• Promote fraud prevention initiatives and awareness through projects, process enhancements, and outreach to business lines and personnel.
• Maintain supporting documentation in accordance with bank standards and regulatory requirements.
• Uphold the integrity of the Bank’s fraud prevention policies, procedures, systems, and controls.
• Provide advisory guidance in fraud techniques and best practices for both internal and external clientele.
• Identify fraud trends and communicate observations to management.
• Prepare investigative and regulatory reports (experience writing SARs preferred).
• Perform other duties as assigned.

Requirements

• Bachelor’s degree or equivalent experience required.
• Professional certification such as Certified Fraud Examiner (CFE) desirable.
• Minimum three years of experience in a fraud investigations role within a financial institution or similar.

Skills & Knowledge

• Familiarity with online account opening processes and best practices preferred.
• Sound practical knowledge of fraud trends, methodologies, and techniques.
• Comprehensive understanding of products, services, and transaction processing channels within a financial institution.
• Strong analytical, research, and investigative skills.
• Ability to maintain a high level of professionalism and confidentiality.
• Excellent prioritization, time management, and multi-tasking skills.
• Exceptional quality and integrity of work produced within tight deadlines.
• Ability to function both independently and within collaborative team environments.
• Solid computer skills including the use of Microsoft Office products.
• Excellent written and verbal communication skills.