The Fraud Operations Analyst is responsible for monitoring and investigating fraud cases, analyzing transactions, and ensuring compliance with banking regulations. They will contact customers, document findings, and present case analyses to senior staff.
Job Summary & Responsibilities
College Degree preferred
SUMMARY: This position is responsible for performing detailed fraud monitoring and investigation of moderate to complex account activity and client behavior analyses, which includes but is not limited to online banking, wires, ACH, Check, Debit/ATM, and external transfer activity, while ensuring that all department procedures are followed. May perform general account handling functions such as; close account determination, holds, restraints, etc. Routinely contacts customers and other bank associates to confirm the legitimacy of high-risk transactions prior to occurrence and takes appropriate actions to mitigate the risk to the Bank and the Customer. Additional responsibilities may include documenting research findings and actions on cases for possible referrals for Suspicious Activity Reporting, Identity Theft Operations (ITO) and Suspected Financial Abuse and the analysis of fraud cases to identify possible trends and points of compromise and presents case analysis to Senior Fraud Operations Analyst and/or Management when needed. Position role and responsibilities must be performed in adherence to the compliance of bank and department operational policies and regulations, including but not limited to Regulation E, CC, GG, V, the FCRA, FACT Act, Bank Secrecy Act; NACHA, Visa Operating Rules.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties and special projects may be assigned.
- Analyze and monitor daily reports generated by various fraud detection tools, to detect fraudulent card, check, ACH, wire transfer, malware, online banking activity and other, and take the appropriate action according to applicable procedures.
- Analyze fraud cases to identify possible trends and points of compromise and present case analyses to Senior Fraud Operations Analyst and/or Management when needed.
- Manage Alerts/Cases, to ensure alerts and cases are handled timely and case details are documented accurately, with concise summary.
- Use internal and external resources to obtain forensic evidence for investigative purposes when reviewing fraud detection reports or investigating cases.
- Ensure investigations and resolutions comply with applicable laws, department procedures, Bank policy, and industry leading practices to reduce the Bank's exposure to civil litigation.
- Process and analyze Electronic Funds Transfer (EFT) customer fraud claims according to regulatory guidelines.
- Perform other fraud operational functions assigned, such as investigating credit report disputes for demand deposit and savings account, reporting charged off overdrawn accounts to consumer reporting agency, mailing applicable customer notification and managing overdrawn account collection.
- Serve as a branch support and provides guidance regarding unusual, suspected/confirmed fraud, or undesirable activity.
- Contact and effectively communicate with customers as needed via multiple channels (phone, email, secure messages) to validate information and confirm authorization of transactions (wires, Debit Card etc.) or other account activity. Review and analyze accounts and customer situation that may require differentiated treatment or specialized resolution
- Escalate cases to the Fraud Investigations Unit when applicable.
- Remain current with arising fraud trends and activities by attending networking workshops and/or training.
- Assist Senior Fraud Operations Analyst and CFD Management in loss, prevention, detection and recovery analysis when needed.
- Other requests from management.
- Must be able to travel occasionally as part of the Disaster Recovery Team.
- Must be able to work flexible work schedule that may include shift work (i.e late shift up to 8:30PM).
- Adheres to and complies with applicable, federal and state laws, regulations and guidance, including those related to anti-money laundering (i.e. Bank Secrecy Act, US PATRIOT Act, etc.).
- Adheres to Bank policies and procedures and completes required training.
- Identifies and reports suspicious activity.
EDUCATION
College Degree preferred
EXPERIENCE
- 2-3 years work experience in similar setting with financial exposure preferred
- 2+ years of financial fraud prevention and detection experience preferred preferred
KNOWLEDGE, SKILLS AND ABILITIES
- Must be knowledgeable of Regulations/Acts that pertain to the job functions which include but are not limited to; Regulations E, CC, GG, and V; the FCRA, FACT Act, Bank Secrecy Act; NACHA and Visa Operating Rules.
- Must specialize in bank fraud prevention, detection, deterrence, and investigations.
- Intermediate to strong understanding of financial transactions, is required.
ADDITIONAL INFORMATION
- Candidates residing in locations within BankUnited's footprint may be given preference.
Top Skills
Bank Secrecy Act
Cc
Fact Act
Fcra
Fraud Detection Tools
Gg
Nacha
Regulation E
Visa Operating Rules
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