What are the responsibilities and job description for the Fraud Analyst position at Grandview Bank?
This position will be required to monitor, investigate, and prevent fraudulent activities by
analyzing financial data, identifying suspicious patterns, and collaborating with other
departments to develop and implement effective fraud prevention strategies.
Key responsibilities include reviewing transactions, using fraud detection software, cardholder dispute management, staying informed on fraud trends, and assisting in creating reports for management. This role requires strong analytical skills, attention to detail, and a solid understanding of compliance, accounting, and technology to safeguard an organization's assets and reputation.
Key Responsibilities
- Data Analysis: Analyze large volumes of financial data, transaction logs, and other
documents to identify anomalies and patterns that indicate fraudulent activity.
- Fraud Detection: Utilize fraud detection software and tools, often including machine
learning models, to monitor transactions and flag suspicious activity in real-time.
- Cardholder Dispute Management: Accepting staff provided cardholder disputes and
working closely with front line staff as well as the core provider cardholder dispute management staff to ensure all dispute investigations are processed and completed timely and accurately and customers are promptly notified once the dispute is received and after the investigation concludes.
- Investigation: Conduct thorough investigations into alerts and suspected fraud, which
may involve interviewing customers or employees to gather evidence.
- Prevention: Develop, implement, and maintain strategies, policies, and controls to
prevent future fraud incidents.
- Reporting: Assist in preparing detailed reports on fraud incidents and trends for senior
management and regulatory bodies.
- Collaboration: Work closely with other departments, such as IT, Deposit Operations, and
Accounting, to strengthen overall security and fraud prevention measures.
- Trend Analysis: Stay up-to-date on the latest fraud schemes, emerging threats, and
evolving regulatory requirements to adapt detection systems.
- Training: Assist in developing and delivering training programs to other staff members on
fraud awareness and detection techniques.
- Perform other duties as assigned