Fraud Detection Specialist

This position is located at our office in Brewster, NY and selected candidate must be able to work in the office three (3) days per week.

The Fraud Detection Specialist position will be responsible for detecting, preventing, and investigating fraudulent activities within the organization’s fraud detection and case management software. Day-to-day requirements include identification of potential fraud and identity theft risks through transaction and account monitoring, analyzing patterns, and conducting investigations to identify and mitigate risks. Candidates should demonstrate significant ability to analyze investigative results and present sound recommendations for additional investigative action. Use the organization’s Fraud software solution, Verafin as well as other fraud detection software and manual fraud processes to review and resolve activity flagged for review, investigate suspicious activities, identify emerging fraud patterns, and report findings to management.  

• Review and analyze fraud activity flagged by the organization’s fraud monitoring systems and reports to determine if further investigation or action is necessary. 

• Gather and analyze reports, records and information from internal and external resources to facilitate investigations. 

• Utilize multiple technologies and sound judgment to examine account activity and detect potentially fraudulent activity. 

• Correspond with internal and external entities regarding branch interactions, accounts, and transactions to validate relevant information. 

• Engage with other financial institutions’ fraud and financial crimes units to confirm fraud, identify common suspects and emerging trends. 

• Prepare status reports or other detailed reports on investigative findings for reporting to management and relevant stakeholders. 

• Complete and refer Suspicious Activity Report (SAR) filings on Fraud and Identity Theft cases, according to regulatory standards identified and determined by Bank procedures. 

• Document case investigation files to ensure that sufficient documentation is maintained to support findings and loss events for ease of reporting to management. 

• All other duties as assigned. 

• High School Diploma Required and a minimum of three (3) years’ experience within a fraud, investigations, or financial crimes unit/team. Preferably in financial services or other related industry.  

• Relevant certification is a plus: Certified Fraud Specialist (CFS), Certified Fraud Examiner (CFE) Certified Fraud Risk Specialist (CFRS), etc.   

• Knowledge of fraudulent activities for check fraud, mobile deposit, ACH, wire, debit/credit card and other payment channels. Knowledge of banking operations is preferred. 

• Ability to research and analyze data and recognize/evaluate patterns of transactional activity. 

• Must be able to establish peer relationships and communicate effectively with cross-functional internal and external teams. 

• Ability to multi-task, working multiple inquiries/investigations simultaneously. 

• A team player with strong organizational, communication, and analytical skills. 

• Experience with Microsoft Office products, particularly Excel and Word.