Fraud Analyst

Fraud Analyst – Job Description

The Fraud Analyst is responsible for detecting, investigating, and preventing fraudulent activity across the Bank’s deposit, lending, and digital channels. This role plays a key part in safeguarding customer assets and maintaining the Bank’s integrity by monitoring transactions, analyzing trends, and responding to suspicious activity in a timely and accurate manner.

Statement of Expectations

Prism Bank expects all employees to comply with the responsibilities of their assigned positions to the highest degree of performance. Expectations include but are not limited to:

• Adhere to the bank’s policies and support management decisions and goals in a positive, professional manner.
• Represent Prism Bank with a high level of integrity and professionalism.
• Maintain knowledge and understanding of banking rules, regulations, laws, and all internal policies and procedures.
• Demonstrate a willingness to adapt to changing business needs and deadlines.
• Maintain a high level of rapport with other departments of the Bank and all co-workers.
• Possess a work ethic that includes neatness and punctuality.
• Exhibit a professional, business-like appearance and demeanor.
• Answer all voicemails and emails within 24 hours of receipt.
• Confer with management concerning questions, procedures, necessary information, form completion, and problem resolutions.
• Complete and attend all required training.
• Maintain satisfactory attendance.
• Maintain confidentiality of sensitive information.
• Follow policies, systems, and controls to ensure compliance with regulations, laws guidance, and internal policies.

Essential Functions

Fraud Detection and Investigation

• Monitor daily transactions, account activity, and alerts for potential fraudulent behavior.
• Investigate suspicious activity related to deposits, wires, ACH, checks, debit cards, and online banking.
• Conduct thorough reviews of alerts and cases using internal systems and third-party fraud detection tools.
• Collaborate with customers and internal departments to confirm transaction legitimacy and prevent losses.

Loss Prevention and Risk Mitigation

• Identify patterns, emerging fraud schemes, and vulnerabilities across payment channels.
• Recommend process improvements and controls to reduce fraud exposure.
• Assist in implementing new fraud prevention systems and tools.
• Support recovery efforts and documentation for any financial losses.

Reporting and Compliance

• Prepare detailed case documentation, reports, and summaries for management and law enforcement when required.
• Maintain compliance with the Bank’s policies, procedures, and regulatory obligations (Reg E, BSA/AML, OFAC, etc.).
• Participate in audits and risk assessments to support regulatory and internal reviews.

Collaboration and Communication

• Partner with branch staff, operations, and digital banking teams to resolve fraud cases and educate employees on prevention strategies.
• Communicate clearly with affected customers to ensure timely and professional resolution.
• Support fraud training initiatives and awareness programs for employees and clients.

Performance Metrics:

• Timeliness and accuracy of case investigations.
• Fraud losses prevented and recovered.
• Quality and completeness of documentation and reporting.
• Collaboration and customer experience during fraud resolution.
• Contribution to process improvement and risk mitigation.

Physical Activities Required to Perform Essential Functions

This work is moderately active and requires the following physical activities:

• Frequent bending, squatting, kneeling, stooping, walking, sitting, finger dexterity, feeling, repetitive motions, talking, hearing, and visual acuity.
• Frequent lifting (up to 35 pounds of equipment).
• Driving to company locations and other sites as needed.
• Work for sustained periods of time maintaining concentrated attention to detail
• Must be able to visually distinguish between shades of colors.

Accommodation may be made for some of these physical demands for otherwise qualified individual who require and request such accommodation.

Working Conditions

• Work is performed in environmentally controlled and partially environmentally controlled rooms.
• Work may be performed in a very noisy room.
• May be exposed to heat and dust.

Accommodation may be made for some of these physical demands for otherwise qualified individuals who require and request such accommodation.

Knowledge, Skills, and Abilities

• Strong analytical and investigative skills with attention to detail
• Ability to identify patterns and anomalies in transactional data
• Strong decision-making and problem-solving abilities under time-sensitive conditions
• High integrity and discretion in handling confidential information
• Strong verbal and written communication skills
• Good presentation skills
• Good negotiation skills
• Good interpersonal skills
• Able to work well with a wide range of people
• Good problem-solving skills
• Good organizational and time management skills
• Strong sense of client service
• Thorough understanding of general banking guidelines
• Able to handle increased pressure situations on occasion
• Able to make appropriate judgments based on Bank policy and procedures
• Able to perform basic mathematical computations
• Able to compute rate, ratio, and percentage
• Able to interpret bar graphs
• Proficient in Microsoft Office applications including Word, and Excel
• Able and willing to continue business skill development

Education and Experience

• Bachelor’s degree in Finance, Accounting, Business-related field, or an equivalent combination of education and experience.
• 2-5 years of fraud analysis, risk management, or financial investigation experience in a banking environment preferred.
• Working knowledge of fraud monitoring systems and banking platforms (e.g., Verafin, CSI, Fiserv, FIS, or similar).

Reporting

This position reports to the Deposit Operations Manager.

Supervisory Responsibility

This role does not have supervisory responsibilities.

Work Environment

This job operates in a clerical, office setting. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets, and fax machines.

Position Type and Expected Hours of Work

This is a Full-Time position with typical working hours of Monday through Friday, 8:00 a.m. to 5:00 p.m. Hours and work shifts may change in accordance with business needs.

Reasonable Accommodation Statement

To perform this job successfully, an individual must be able to perform each essential duty listed below satisfactorily. Reasonable accommodation may be made to enable qualified individuals with disabilities to perform the essential functions.

AAP/EEO Statement

Prism Bank is an Equal Employment Opportunity Employer. Employment decisions are made without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, or other characteristics protected by law