Fraud Investigator

Essential Duties And Responsibilities

• Aid in determining the scope, timing, and direction of investigations, including analyzing evidence, complaints, or allegations of law violations.
• Review information regarding suspected fraud cases and conduct interviews with members who have fraud or forgery claims and potential suspects, as needed.
• Handle necessary documentation and required research.
• Makes independent reimbursement decisions based on investigation results.
• Analyze risk activity on alerted accounts to determine potential fraud related to items such as checks or ACH items processed, credit or debit cards, kiting, new accounts or credit applications to determine application and data validity; and research suspect account activity and take appropriate action such as, but not limited to, restricting or closing accounts to prevent fraudulent financial transactions to mitigate loss to the Credit Union and its members in accordance with established rules and Credit Union policies and procedures.
• Work closely with the Senior Fraud Investigator, and Director of Security and Financial Crimes and the BSA/AML Team on possible account relationship closure to avoid continued loss; determine whether holds or account restrictions may need to be placed against accounts through analysis of the account relationship and the probability of loss to the Credit Union; assist in the determination if a Suspicious Activity Report (SAR) should be filed with Financial Crimes Enforcement Network (FinCEN).
• Support various business partners and branch personnel in the processing of operational charge-off losses.
• Partner with Fraud Analytics, Risk Management, and technology teams to identify data sources and develop processes for capturing required data.
• Work with various Credit Union personnel and law enforcement authorities in researching and investigating suspicious events; direct personnel in matters of compliance; and develop and maintain a working relationship with state and federal law enforcement agencies.
• Collaborate with multiple areas in the Credit Union to deliver complex fraud prevention projects and manage deliverables from inception to closure; make recommendations to management for improvements to various projects, tasks, and objectives; and describe business problems/solutions.
• Aid in the development, implementation, and monitoring of fraud prevention initiatives including concentration analysis and establishment of exposure limits.
• Aid in comprehensive self-testing, independent third party and regulatory audits; makes necessary preparations for such audits or exams; assists in the coordination of responses to external auditors and regulatory examiners; and ensure deficiencies identified from such audits and examinations are corrected.
• Maintain a high level of customer service while addressing member, law enforcement, merchant, and other outside requests.
• Provide written documentation to local law enforcement offices to aid in successful criminal prosecution of those involved in committing criminal offenses against TDECU.
• Own investigation process through adherence to proper case documentation.
• Investigate incidents and document recoverable and or prevented losses for TDECU due to fraudulent activity.
• Absorb investigation process through adherence to proper case documentation.
• Assist with maintaining a Case Tracking Log of all investigative files to reflect the recoveries and losses that have been prevented.
• Attend training sessions and stay current with security and loss prevention methodology and procedures to maintain high professional standards.
• Assist with training TDECU employees regarding fraud and current scams.
• Respond to and complete internal service requests assigned to the Security and Investigations department.
• Partner with other Financial Institutions, Law Enforcement Agencies, and Retail establishments to exchange information and coordinate case investigation collaborations on identified organized crime rings, public corruption, financial crimes, and other violations of federal or state statutes.
• Aid in maintaining the Credit Union's Enterprise Fraud Risk Management Program to ensure conformity and adherence with all applicable state and federal laws and regulations.
• Advise the Director of Security and Financial Crimes, of emerging fraud issues and consult and guide the Credit Union in the establishment of controls to mitigate risks.
• Provide support and guidance to the Credit Union’s fraud risk management efforts and serve as an advisor.
• Aid personnel in resolving inquiries or issues relating to fraud matters; participate in various internal committees assigned.
• Assume responsibility for various department functions in the absence of staff member or in overload situations.