Fraud Prevention Specialist

We are Addition Financial, a member-owned, not-for-profit financial cooperative, offering comprehensive financial solutions that help members achieve their financial goals. Shareholder profits don't drive us and never have. Since 1937, we've been on a mission to bring financial success and education to everyone and make a positive impact in the lives of our members and the communities we serve. And we want your help to make that happen. We're looking for people who not only want to do meaningful, challenging work, but who also have a heart for service. If this sounds like you, keep reading and we'll dive into the specifics!

SUMMARY:

The Fraud Prevention Claims Investigation Specialist will be responsible for the processing of our Online Banking fraud claims and fraud prevention. This role combines fraud detection strategies with an emphasis on monitoring and investigating fraud claims. This individual will perform an analysis of high-risk transactions, via real time and after-the-fact reports, to identify fraudulent activity. Must be comfortable in a fast-paced environment, manage large work volumes, while thoroughly and accurately processing filed claims that meet the established regulation requirements.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Monitors numerous real-time queues and analyzes high-risk transactions within the Addition Financial database.
• Evaluate transactions to determine the appropriate action. This includes rejecting confirmed fraud, approving legitimate transactions, or conducting further analysis on unverifiable transactions to decide whether to hold or process the transaction.
• Maintains or exceeds established service level agreements and guidelines for timely resolution of queued transactions to minimize potential revenue losses.

• Maintains continuous phone coverage to respond to incoming calls from branches and support departments, delivering timely and accurate support on fraud related matters.

• Contacts and effectively communicates with members and banks via multiple channels (phone, email, and fax) to validate information and verify account activity.

• Maintains or exceeds established standards for member service and resolves complex issues with little or no supervision or direction.

• Works effectively with peers and leadership by communicating fraud trends and sharing ideas and information in a constructive and positive manner.

• Report as appropriate fraud matters, concerns, and/or the overall fraud condition of applicable divisions, departments, operations, or functions within the credit union to the Risk Management Leadership or Senior Management.

• Investigates a wide range of fraud alerts, including but not limited to identity theft, account takeovers, payment fraud, check fraud, social engineering scams and digital banking threats.

• Must have extensive experience in data processing systems and the ability to review account histories for fraud, remove and place holds, notes/comments, hot-card plastics, check average monthly balances, POS transactions, ATM deposits, and reports.

• Complete thorough investigations which may include interviewing members.

• Document findings and maintain detailed case files.

• Performs special projects in a timely manner, as requested.

• Review and analyze surveillance footage to investigate suspicious activities.

• Identifies and interprets fraud-related requirements, conducts thorough analysis, and provides strategic recommendations. Collaborates with Risk Management

• Managers to determine the most effective method for communicating updates to impacted personnel.

• Assist in the development and implementation of fraud prevention strategies and training materials.

• Work with Law enforcement on cases, evidence handling, and court appearances.

• Prepare Suspicious Activity Reports (SARS) as required by FINCEN.

• And other department wide projects and tasks as assigned

Requirements

Education:

• Bachelor’s degree or equivalent in Criminal Justice, Financial or Legal field preferred. High School Diploma, or GED equivalent required.

Experience:

• 1 years of banking fraud, Regulation E claims processing or equivalent experience required. Credit Union or Financial Institution experienced required.
• Demonstrated and developed member service, organizational, and analytical skills
• Fraud Specialist must have the ability to calculate figures and amounts such as total fraud losses. Ability to apply concepts of basic algebra as a fraud specialist.

Certifications:

• N/A

Any applicable system or program knowledge:

• Fraud Specialist will advise credit union management about all fraud software system issues, while implementing and operating a fraud software program.

OTHER CHARACTERISTICS OF THE POSITION:

Physical Demands:

• Sitting for long periods at a time.

• Regularly required to talk or listen.

• Occasional lifting of office supplies up to 20 lbs.

• Vision abilities including close vision and ability to adjust focus. Mental Demands:

• Must understand and follow a set of clear oral and/or written procedures without deviation.

• Performs repetitive routine tasks.

• Withstand moderate amounts of stress.

• Must adhere to a provided work schedule to meet a set of qualitative production standards.

• Perform tasks that vary little from day to day.

• Implements others’ decisions/procedures with little judgment required.

• Must relay information orally.

WORKING WITH US:

We’re continually recognized as a top employer because we understand people like you want more out of your career. Like making a difference in people’s lives and in the community. Being part of a team that supports each other. Feeling good about the time you spend at work each day. And being able to balance your life while also earning a competitive base salary and benefits, including:

• 401k with profit sharing contribution

• Comprehensive medical, dental and vision coverage from leading insurance providers

• Continuing education and up to $5,000 in tuition assistance annually

• Generous vacation and sick pay

• Paid parental leave and volunteer time off

• Major holidays off including Federal holidays that many other industries don't observe

• Credit union benefits including reduced consumer/mortgage loan rates, free checks, and other financial services discounts

At Addition Financial, we accept you for who you are. We are an equal opportunity employer and do not discriminate based on race, color, creed, religion, national origin, sex, marital status, age, protected veteran status, or disability/handicap with regards to recruitment, selection, placement, promotion, wages, benefits, and any other areas of employment. Personal perspectives and beliefs are what helps our team members, and our company, grow as a whole and we seek to nurture that inclusiveness. We welcome our team member’s diverse viewpoints and work together so that everyone’s voices are heard. So, if you’re ready to take your career to the next level, Count Us In®.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.