Fraud Analyst

Unclassified - Falcon Heights, MN

Full-time - Entry Level

Falcon Heights, MN

About the position

The Fraud Analyst position at Blaze Credit Union is a critical role responsible for identifying, managing, and mitigating various types of fraud, loss, and financial schemes that can impact the credit union. This position involves researching and investigating suspicious transactions across all payment channels, analyzing patterns to detect and deter fraud effectively. The Fraud Analyst serves as a primary backup for key department functions, ensuring that the credit union's financial integrity is maintained. In this role, the analyst will utilize available technology and systems to mitigate financial loss, monitoring, reviewing, and investigating alerts and reports generated through dedicated software. Quick and efficient decision-making is essential when reviewing suspected fraud cases to limit potential losses. The analyst will perform general account maintenance functions related to confirmed fraud, such as closing accounts and placing holds. Identifying fraud patterns and analyzing case details to determine the methodology of each fraud scheme is a key responsibility, as is creating and maintaining cases in systems like Insight and Verafin to track and manage fraud loss effectively. The position also requires connecting with law enforcement when filing police reports related to fraud accounts and losses, reviewing suspicious Mobile Deposit Capture items, and preparing bond or restitution claims on fraudulent losses. Providing exceptional internal and external member service on fraud-related issues is crucial, as is communicating trends regarding fraud with the Director of Fraud Operations & Disputes. The analyst must follow security policies and internal controls to protect the credit union's employees, members, and assets, while also processing card dispute and fraud claims as needed. Overall, the Fraud Analyst plays a vital role in maintaining the security and integrity of the credit union's operations, ensuring compliance with applicable laws and regulations, and supporting effective department operations through regular attendance and collaboration with other departments.

Responsibilities

• Utilize available technology and systems to mitigate financial loss to the credit union
• Monitor, review and investigate daily, weekly, monthly alerts and reports generated through dedicated software and systems
• Exercise quick and efficient decision making when reviewing suspected fraud to limit further potential loss to the credit union
• Perform general account maintenance functions pertaining to confirmed fraud such as closing accounts, placing holds, terminating services, etc.
• Identify fraud patterns, compromises and breaches through certain areas/channel
• Analyze case details to determine methodology of each fraud scheme to identify gaps
• Create and maintain cases in Insight, Verafin and other applicable systems to better track, manage and prevent fraud loss
• Review and process spreadsheets to maintain accurate data and reporting
• Connect with applicable law enforcement when filing police reports pertaining to fraud accounts/losses
• Review Mobile Deposit Capture items that have been flagged as suspicious and take appropriate action
• Prepare bond claims and/or restitution claims on fraudulent losses
• Follow all applicable regulations and policies pertaining to the above
• Provide exceptional internal and external member service on fraud related issues or concerns
• Professionally handle incoming calls, emails and assist as needed
• Communicate status and provide input on identified trends regarding fraud with Director Fraud Operations & Disputes
• Follow and maintain security policies, internal controls and procedures to protect the employees, members and assets of the Credit Union
• Process Card dispute and fraud claims
• Prepare fraud claim packets
• Review, analyze, and record card fraud activity
• Process account credits and chargebacks
• Review and process spreadsheets
• Follow up on case files
• Use problem solving skills and good judgment to answer questions, address concerns and solve problems for members concerning card and fraud situations
• Provide assistance to other areas departments pertaining to the handling of fraudulent activity/transactions
• Process transactions as needed
• Provide guidance/assistance as needed
• Comply with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control
• Exhibit Blaze's 5A culture - Ambassador, Achievement, Ambition, Ability and Attitude
• Perform other duties as assigned to support effective department operation

Requirements

• High School Diploma or equivalent
• 1 - 2 years of experience in financial institution and/or fraud/loss prevention experience
• Knowledge of Blaze products, services, policies and procedures
• Demonstrated knowledge of effective time management skills
• Ability to problem solve, make decisions, and exercise good judgement
• Ability to organize multiple tasks and maintain a courteous demeanor in a busy, high stress work environment
• Knowledge of professional telephone etiquette, business grammar and correspondence
• Possess good critical thinking skills
• Ability to respond and adapt to changing environments and meet tight deadlines
• Knowledge of basic arithmetic
• Skill in using a personal computer, web browser, and Microsoft office products
• Skill of typing and the ability to use a computer keyboard and calculator; ability to learn to use various office equipment
• Ability to maintain confidentiality via phone, fax and email
• Communication skills to proactively respond to members/associates to problem solve based on guidelines