Fraud Data Analyst (onsite)

$50,000 - $60,000/Yr

American Heritage Credit Union - Feasterville-Trevose, PA

Full-time - Mid Level

Feasterville-Trevose, PA

1,001-5,000 employees

About the position

The Fraud Data Analyst at American Heritage Credit Union plays a crucial role in assisting the Enterprise Risk Management team to prevent fraud and manage losses. This position involves analyzing large datasets to identify fraud trends, developing mitigation strategies, and providing analytic support to enhance fraud controls. The analyst will work closely with various teams to investigate suspicious activities and ensure compliance with regulations while maintaining a focus on quality and accuracy in all tasks.

Responsibilities

• Delve into production data to produce, maintain, and curate metrics and reports for the Fraud team.
• Review system-generated triggers for potentially fraudulent activity on members' accounts.
• Perform detailed research and investigation on alerts generated for potential fraud schemes.
• Work closely with cross-functional teams to analyze suspicious activity and provide mitigation recommendations.
• Build and maintain tools and processes to collect and track data and troubleshoot errors.
• Develop and maintain processes and documentation for fraud identification and mitigation best practices.
• Develop, maintain, and publish periodic Key Performance Indicators for the Fraud Program.
• Leverage data to understand fraudulent behavior and report to appropriate teams and management.
• Use relational database queries and spreadsheets to analyze and visualize datasets.
• Conduct research, work independently, and make complex investigation decisions.
• Develop strategies for the prevention and detection of internal and external fraud.
• Support development of new fraud tools, processes, and third-party services.
• Work closely with third-party providers to implement and update fraud preventive rules.
• Interpret data and analyze results using analytics and statistical techniques.
• Prepare, analyze, and summarize operational results for key stakeholders.
• Conduct full lifecycle of analytics projects, including data manipulation and export.
• Respond to fraud alerts by notifying members and restricting account privileges.
• Investigate claims of fraud against members and the credit union.
• Assist with subpoenas and legal requests, providing evidence to law enforcement.
• Assist with processing fraudulent items and work with members to eliminate future fraud.
• Assist the ERM team with timely preparation of Fraudulent Check Crime Reports and other reports.
• Assist with collection activities on suspected fraudulent accounts.
• Track losses from fraudulent transactions within the case management system.
• Assist with investigations requested by the AVP of Fraud Investigations.
• Assist branch staff and other departments with resolving questionable activity.
• Implement corrective action procedures to ensure compliance with policies.
• Establish and maintain professional relationships with regulatory agencies and auditors.
• Assist with prompt resolution of complaints and questions.
• Maintain awareness of new fraud techniques and security developments.

Requirements

• Bachelor's degree in a quantitative field (Finance, Risk, Mathematics, or Statistics) or equivalent experience.
• 1 to 3 years of experience in data mining, statistical analysis, and predictive modeling.
• Experience in financial institutions and knowledge of industry practices.
• Significant experience with relational databases and scripting languages.
• Advanced analytical skills with experience in collecting and analyzing large datasets.
• Knowledge of risk management and control principles.
• Ability to understand credit union products and services.

Nice-to-haves

• Experience with analyzing Payment Data, ACH/Wire data, and Financial Crime data.
• Experience in performing trend and detect analysis and building reports.
• Strong problem-solving skills and a keen eye for detail.

Benefits

• Health insurance
• Paid time off
• 401(k) matching