Fraud Analyst

$70,000 - $110,000/Yr

Live Oak Bank - Wilmington, NC

Full-time - Mid Level

Wilmington, NC

Credit Intermediation and Related Activities

About the position

The Fraud Analyst at Live Oak Bank plays a crucial role in safeguarding the bank's assets and its customers by investigating and resolving fraud alerts and suspicious activities. This position involves comprehensive analysis of fraud reports, collaboration with various internal teams, and proactive measures to prevent losses. The role is integral to maintaining the integrity of the bank's operations and ensuring customer trust.

Responsibilities

• Complete comprehensive analyses on suspect reports or fraud alerts.
• Investigate suspicious events to resolution.
• Take appropriate actions to prevent and/or minimize losses for Live Oak Bank and its customers.
• 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.

Requirements

• 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

• Paid sick time
• Annual bonuses and long-term incentives based on metrics and company policy