Fraud Specialist

About the role

The Key Responsibilities Of The Role Include:

• Completes investigations to determine if a financial crime (fraud, money laundering, or terrorist financing) has occurred and involves Northern Trust accounts, clients, operations, or employees.
• Supports investigations through appropriate analysis/testing and documents investigative activities, findings, and conclusions.
• Interacts with partners (e.g., relationship managers, Legal Department, Human Resources) and external parties (e.g., law enforcement, other financial institutions' investigations staff) in the course of investigations, as appropriate.
• Consults with management regarding complex or sensitive investigations.
• Serves as a key subject matter expert and mentor to less experienced employees.
• May manage daily operational activities and review work of less experienced employees (but not in a formal management role).
• Serves as a technical SME in areas of fraud, fraud prevention technology, and data analysis.
• Utilizes advanced data analysis techniques to detect and prevent fraud within client accounts and client-facing applications.
• Reviews comprehensive reports to identify anomalous patterns, transactions, or behaviors that may indicate unauthorized activity or fraud.
• Reviews and reconciles client login and transaction anomalies, including independent decision making, direct client authentication, and transaction verification.
• Analyses data from multiple internal and external sources to identify potentially fraudulent activity, including complex account movements involving multiple transaction channels, accounts, or client relationships.
• Conducts thorough and well-documented analysis in accordance with policies and procedures and takes appropriate action to mitigate additional fraud exposure.
• Maintains the integrity and confidentiality of sensitive data, systems, policies, analyses, and highly sensitive case details, while ensuring all fraud prevention efforts are executed in compliance with applicable laws and regulations.
• Completes process improvement initiatives and other projects assigned by management.
• Communicates findings, trends, and emerging risks to the fraud team and management to strengthen the bank's preventative posture and enhance the fraud program.

Requirements

• In-depth financial crimes knowledge.
• Current and historical knowledge of malware variants and common attack vectors, including AI-enabled fraud, high- and low-tech social engineering, and emerging AI threats.
• Understanding of common industry client authentication processes, tools, and Internet Security.
• Understanding of traditional banking and fintech money movement systems and associated fraud risks, including wires, ACH, checks, card transactions, bill payments, Zelle, cryptocurrencies, and other digital transaction methods.
• General to advanced understanding of commercial web browsers, operating systems, and networks.
• Knowledge of Northern Trust transaction processing systems is preferred.
• A College or University degree and at least 5 years of relevant work experience are preferred.
• Related industry qualification (e.g., ACAMS, CFE) or studying towards such designation preferred.
• Experience with Actimize Xceed/Guardian Analytics, Verafin, or like tools preferred.
• Experience in phone interviewing for the identification of client impersonators and scams.
• Experience with Co-Pilot and use of agentic AI for OSINT, data analysis, and/or general work efficiency.
• Experience with advanced data analysis and reporting tools highly desirable (e.g., Power BI, advanced Excel skills, SQL, Python, Azure Log Analytics, link analysis, OSINT, etc.).
• General understanding of computer networking concepts and their application to fraud investigations, including internet service providers (ISP), internet protocol (IP), proxies, VPNs, and related online activity indicators.
• General understanding of end-user operating systems, including Windows and Apple OSA.
• A College or University degree and/or at least 5-7 years of relevant work experience is preferred.