Senior Fraud Investigator

About the role

This Senior Fraud Investigator is responsible for detecting, investigating, and resolving suspected internal and external fraudulent activity, including check fraud, ACH fraud, wire fraud, account takeover incidents, elder exploitation, and other financial crimes reported by customers or identified through internal monitoring systems. The Senior Fraud Investigator plays a critical role in minimizing financial losses by conducting thorough investigations, identifying fraud patterns, and executing effective loss mitigation and recovery strategies. This position also involves handling more complex investigations and supporting leadership in refining procedures and identifying operational gaps to improve fraud detection and response efficiency. Collaboration with internal departments such as AML/CFT, Enterprise Risk Management, and Compliance is essential, and coordination with law enforcement and regulatory agencies may be required. Investigators are expected to complete cases in alignment with established closure and quality metrics, while reporting investigative findings to help identify potential operational or compliance risks.

Responsibilities

• Investigate suspected fraudulent transactions including more complex incidents of Employee fraud, fraud rings, check fraud, wire fraud, ACH fraud, debit/credit card fraud, identity theft, elder financial abuse, account takeover, and synthetic identity fraud.
• Investigate suspected fraudulent activity using Verafin's case management system to review and resolve fraud cases using independent judgement, document investigative findings, and track case progress through resolution.
• Analyze transactional data, and identify patterns, trends, and anomalies.
• Serve as a primary liaison to bank employees, offering guidance and expertise in handling fraudulent activity.
• Perform fact-finding investigations and be the subject matter expert in a wide range of issues, including fraud, potential violations of bank policies, industry regulations, and applicable civil or criminal laws.
• Initiate and respond to phone calls and written correspondence from account holders, bank personnel, and external organizations regarding suspicious activity or policy violations.
• Conduct in-person and phone interviews with customers, employees, suspects, witnesses, and victims to gather relevant information.
• Lead recovery efforts for financial losses by placing claims on assets, filing criminal charges, and collaborating with the Legal Department on civil matters.
• Apply recovery processes under the Uniform Commercial Code (UCC), including breach of warranties and return item procedures.
• Execute Hold Harmless agreements and manage associated documentation to support fraud recovery efforts.
• Maintain up-to-date knowledge of regulatory frameworks and industry best practices related to fraud recovery and financial crime investigations (e.g., NACHA).
• Identify control gaps and recommend enhancements to reduce exposure to future fraud losses.
• Compose detailed and well-structured narratives of fraud events ensuring clarity, completeness, and relevance, while maintaining compliance with Bank Se