Job Summary

The Fraud Investigator independently reviews and investigates the circumstances of a fraud case. The Fraud Investigator will review daily reports to identify fraudulent activity, take mitigating action to reduce fraud losses, determine loss liability, and assist in funds recovery. Provides support to Fraud Analysts reviewing alerts and reports as needed.

Duties and Responsibilities

Conduct thorough and comprehensive investigations on suspected fraudulent activity.
• Review circumstances of fraud claims for applicable laws, regulations, loss liability, and funds recovery.
• Aids BSA/AML Investigator with fraud case elements in relation to Suspicious Activity Report (SAR) filings.
• Assist BSA/AML Investigator with continuing fraud related activity for a Suspicious Activity Report (SAR) refile.
• Ensures investigations are effectively managed from end to end through the collection of evidence, conducting interviews, maintaining accurate and complete notes of the investigation stages, and reporting.
• Responsible for determining recovery opportunities for fraudulent funds between financial institutions and processing in a timely manner.
• Act as one of the CACU's liaisons for 314(b) information sharing requests. Ensure registration is completed annually with FinCEN.
• Submit account closing recommendations based on account activity.
• Assist in the development of new and/or updated policies and procedures related to fraud.
• Assist Analysts and other investigative teams when requested.
• Maintain effective relationships with local, state, and federal authorities and follow-up on criminal investigations including the preparation and gathering of evidence and providing expert testimony in a court of law including local, state, and federal jurisdictions.
• Identify and recommend improvements on fraud rules used within the credit union's Fraud program.
• Assist in training opportunities with credit union employees on BSA/AML/fraud issues.

Education and Experience Requirements:

• Bachelor's degree in criminal justice or related field with a minimum of two years of experience in fraud, BSA/AML or related activity.
• 3-5 years of banking experience; or five plus years of experience as a Financial Crimes Investigator can substitute for degree.
• Certified Fraud Examiner (CFE), Certified Financial Crimes Investigator (CFCI), or Certified AML & Fraud Professional (CAFP) certification or must be obtained within 2-years of employment.

Required Knowledge, Skills and Abilities:

• Strong analytical skills and attention to details.
• Thorough knowledge and understanding of Bank Secrecy Act and USA Patriot Act regulations.
• Ability to build strong relationships throughout the credit union, business membership, law enforcement, and other outside agencies.
• Ability to maintain confidential information.
• Ability to self-initiate and work independently with limited supervision.
• Excellent time management skills and the ability to work both independently and as a member of a team.
• Comfortable presenting to both small and large groups of credit union employees
• Strong written and verbal communication skills.
• Strong spreadsheet and word processing skills.