Newtown Savings Bank - Newtown, CT
posted 4 months ago
Location: Newtown, CT. Our Fraud Analyst I position is an onsite opportunity for individuals with 1-3 years of professional financial services experience. Newtown Savings Bank is seeking an organized, team player who acts as the first line of defense in identifying fraudulent activity and protecting the Bank and its customers from undue loss. The role's primary responsibilities include working daily alerts in the fraud detection system, including review of suspect transactions, preliminary investigation and risk mitigation actions including suspect identification, processing, and reporting. Additionally, the role responds to telephone calls and emails related to fraud activity/concerns as well as customer transaction disputes. This is an onsite opportunity at our Corporate office in Newtown, CT. The role has a remote option of one day per week. PRIMARY RESPONSIBILITIES: Analysis - Monitors and analyzes daily fraud detection system(s) results in a timely manner. Reviews transactions and accounts flagged for suspicious activity, performs thorough research to detect potential fraud on assigned alerts, independently decisions potential fraud items and takes appropriate actions to mitigate loss. Works independently and escalates findings to Fraud Team Lead or Manager as needed. Monitoring - Monitors account/customer analysis when activity appears unusual, including but not limited to the following sources: monitoring solutions, reports, branch or other bank employee referrals, and other fraud detection sources. Trending/Reporting - Identifies, documents and communicates emerging fraud trends. Supports the collection of evidence and information to be used for multiple purposes including incident reports/filings, loss prevention, litigation and criminal prosecution, management information and statistics, and process improvements. Case Management - Updates case management system to ensure all pertinent information relating to fraud activity is properly documented and reported in accordance with Bank policy/procedures and regulatory requirements. Error Resolution - Processes/investigates/resolves customer transaction disputes in compliance with regulatory deadlines and customer communication requirements. Operations Support - Provides support to bank employees, primarily branch and Customer Service Center staff, relative to suspect activity and/or identified fraud. Responds in a timely and professional manner ensuring that responses are accurate and based on the Bank's operating policies and procedures. Examples include responding to questions regarding error resolution procedures, suspicious transactions, etc. Processing - Prepares check draft/forgery/fraud investigation postings, adjustment requests, etc. Regulatory - Complies with all applicable federal regulations and guidance. Communications - Responds to escalations from internal and/or external parties with urgency. Interacts regularly with other internal departments; performs appropriate actions required to mitigate losses and provides a positive customer experience. Industry Knowledge - Stays abreast of fraud trends, relevant regulations and compliance standards.