Senior Fraud Analyst

About the role

The Senior Fraud Analyst serves in a critical role to prevent, detect, and investigate fraudulent activities under the guidance of the Fraud Operations Manager. This position assists with daily fraud alerts, fraud case management, external communication with law enforcement and banks, and investigation of reported identity theft and elder financial abuse. The Senior Fraud Analyst also supports the Fraud Operations Manager in guiding employees on fraud-related matters, identity theft situations, applicable regulations, and emerging fraud trends.

Responsibilities

• Review daily alerts generated by the Bank’s fraud detection system by analyzing transactions and account data to identify suspicious activity and prevent fraud losses, under minimal supervision.
• Assist in the detection of emerging fraud trends and recommend control enhancements to the leadership team.
• Make outbound calls to customers or other relevant parties to validate payment transactions and/or obtain case details.
• Independently evaluate and respond to questions and escalations of suspected fraud, identity theft, and reports of scams from business units.
• Collaborate directly with other departments to ensure fraud concerns are reported to the appropriate channels for investigation and remediation.
• Lead complex investigations involving multiple accounts or fraud schemes.
• Act as the external liaison, obtaining required documentation and evidence in preparation for law enforcement subpoenas and 314(b) requests.
• Prepare Suspicious Activity Reports (SARs) for fraud-related suspicious activity cases and manage cases brought to the SAR Committee.
• Assist with the development, implementation, and maintenance of fraud policies, procedures, and training materials.
• Ensure that policies, procedures, and programs comply with applicable regulatory requirements and mitigate the risk of non-compliance.
• Provide guidance to other fraud analysts on regulatory matters as needed and act as the liaison between law enforcement and external banks.
• Perform other duties as assigned.

Requirements

• At least 5 years of related experience is required.
• Professional certification, such as Certified Fraud Examiner (CFE), Certified Anti-Fraud Specialist (CAFS), or Certified AML and Fraud Professional (CAFP), is preferred.
• A college degree in a related field is preferred.

Skills

• Strong analytical, critical thinking, and problem-solving skills.
• Knowledge of Regulation E requirements, indicators/red flags for identity theft, elder abuse regulations, and scam activity.
• Advanced knowledge of banking operations.
• Strong verbal and written communication skills.
• Detail-oriented with the ability to manage multiple tasks and prioritize work in a fast-paced environment.
• Proficient in Excel, Word, and PowerPoint.
• Current knowledge of applicable federal and state laws and regulations.
• Exercises awareness regarding possible suspicious activity, money laundering, or fraudulent behavior.

Physical Demands

• Regularly required to sit.
• Frequently required to talk or hear.
• Occasionally required to stand, walk, and reach with hands and arms.
• Must occasionally lift and/or move up to 10 pounds.
• Specific vision abilities required include close vision and the ability to adjust focus.

Work Environment

The noise level in the work environment is usually very quiet.