Fraud Business Analyst II

Are you looking to take your career from good to great? As an employee of PenFed, every day is an opportunity to thrive, and be part of a team working to ensure our organization is providing world class service to our members, employees, and our communities. We exist to help our members realize their full potential, educate and encourage their dreams, and make every effort to follow our mission and help our members “do better.” Joining PenFed is more than being an employee; it’s about being a part of the PenFed family.

PenFed is hiring a (Hybrid) Fraud Business Analyst II at our Tysons, Virginia location.  The primary purpose of this job is to be responsible for providing data analytics required to identify, monitor, and mitigate fraud risk and to provide fraud MIS. The incumbent will investigate financial fraud and analyze data to expose fraudulent activity, patterns, trends, and conduct link analysis. This position will place particular emphasis on being familiar with relevant datasets, creating and maintaining MIS, monitoring and identifying emerging fraud trends, communicating findings and strategic insights to management.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned.

• Lead analysis of emerging fraud trends, fraud risk criteria, and high-risk population segments.
• Ensure decision effectiveness through fraud strategy performance evaluation and detection metrics.
• Develop and manage fraud prevention strategies through data analysis and business insight.
• Develop data queries, statistical analysis, and reports to identify key data elements that can be used to monitor and identify fraud trends.
• Use data queries, decision tree model, and other decision science tools to predict fraud risk, forecast fraud trends, and provide business insight.
• Develop, maintain and execute fraud detection processes on a daily/weekly/monthly basis.
• Work closely with management to share findings and assist in identifying current fraud trends & root causes, identify fraud risk gaps, and collaborate with senior analysts on recommendations.
• Work directly with members, department managers, law enforcement officials, and the general public to identify and investigate unusual, suspicious, and potentially fraudulent activities, both external and internal to PenFed. Recommend the appropriate course of action based on the nature of the suspicious activity.
• Gather evidence from multiple sources to include system data, transaction records, online sources, interviews, and various channels.
• Extract meaning from large quantities of complex data, make connections, and identify anomalies, trends and reoccurrences. Conduct thorough research through available means including systems, records, and archives, phone calls, internet searches, etc. as needed.
• Provide well-documented results of research and analysis to Fraud management; review circumstances and conclusions and support any ongoing activities.
• Ensure proper controls are in place for the detection and prevention of suspicious activity, including the use of systems, reports, and other tools. Develop recommendations for additional control requirements and process enhancements.
• Clearly articulate findings and observations and make recommendations as appropriate.
• Work with other business teams to ensure consistent and accurate reporting while minimizing redundancy.

Equivalent combination of education and experience is considered.

• Bachelor’s Degree in Economics, Finance, Statistics, Engineering or a related field is required. Master’s Degree in a quantitative or a related field is highly preferred.
• Minimum of three (3) years’ experience in data analytics.
• Minimum of two (2) years’ experience using in SAS, SQL, R Language, Visual Basic, Tableau, or other business intelligence tools and experience working with large datasets are required.
• Experience using Microsoft Office Suite (Excel, PowerPoint, and Word) and other business-related systems is required.
• Experience working in a financial institution is strongly preferred.
• Strong interpersonal, verbal and written communication skills with the ability to effectively interact and build trusted relationships across different departments and all levels of management.
• Strong analytical and problem-solving skills with the ability to effectively resolve complex situations and issues.
• Must be results oriented with the ability to work independently as well as in a team environment.
• Detail-oriented with strong organizational skills with the ability to manage or lead multiple projects effectively.

Supervisory Responsibility

This position will not supervise staff.

Licenses and Certifications

There are no additional certifications required.
 

Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*

Travel

Ability to travel to various worksites and be on-call may be required.

Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 2.9 million members and over $31 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam and Puerto Rico. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day.
 
We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more.
 
Equal Employment Opportunity
PenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.
 
PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 402-639-8568.

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