Fraud Analyst

$70,000 - $110,000/Yr

Live Oak Banking Company - Wilmington, NC

Full-time - Entry Level

Wilmington, NC

Credit Intermediation and Related Activities

About the position

The Fraud Analyst position at Live Oak Bank is crucial for safeguarding the bank's assets and ensuring the security of customer transactions. This role involves conducting comprehensive analyses of suspect reports and fraud alerts, investigating suspicious activities, and collaborating with various internal teams to mitigate risks associated with fraud. The Fraud Analyst will play a key role in protecting both the bank and its customers from potential losses due to fraudulent activities.

Responsibilities

• Review system-generated alerts to identify fraudulent activity related to ACH, debit and credit card, wire, digital banking, account openings, and other payment mechanisms.
• Determine action required to protect the Bank's assets; work with management on handling more complex cases as required.
• Track and document action taken in a timely and accurate manner.
• Open cases in the established case management system to include all records as defined by management.
• Escalate potential fraudulent schemes identified through the research process for the engagement of law enforcement personnel.
• Monitor consumer transaction and account activity for potentially fraudulent activity, including identity theft, account takeover, friendly fraud, and other identified risks.
• Communicate professionally with customers, financial institutions, and other Bank personnel to resolve problems or request additional information and/or documentation to support a decision on whether fraudulent activity has occurred.

Requirements

• A Bachelor's degree - Preferred
• 3 - 5 years of experience in risk management, payment processing, fraud investigation, chargeback representation, or law enforcement - Required
• Working knowledge of fraud schemes, scams, and fraud systems - Required
• Knowledge of card processing, payment fraud prevention/detection techniques, and/or On-line Fraud Management - Required
• Professional Certifications (CAMS, CFE, etc...) - Preferred
• Excellent PC and technical proficiency in Microsoft Word, Excel, and PowerPoint - Required
• Strong analytic and problem-solving skills - Required

Nice-to-haves

• Professional Certifications (CAMS, CFE, etc...) - Preferred

Benefits

• Base pay range of $70,000.00 - $110,000.00 per year
• Annual bonuses and long-term incentives
• Paid sick leave in compliance with state laws