Fraud Investigation Analyst

$65,000 - $90,000/Yr

Cross River Bank - Fort Lee, NJ

Full-time

Fort Lee, NJ

Professional, Scientific, and Technical Services

About the position

The Fraud Investigation Analyst at Cross River plays a crucial role in the Compliance team, focusing on managing potential loss investigations related to financial crimes and fraud. This position involves conducting independent investigations, analyzing transaction data, and collaborating with various stakeholders to mitigate losses and enhance preventive measures. The role emphasizes results-oriented work in a dynamic environment, requiring strong analytical skills and teamwork.

Responsibilities

• Conduct independent investigations into suspected illegal, fraudulent, or unusual activity involving bank accounts, customers, and associates.
• Review cases by analyzing transaction information, conducting interviews, and consulting with peer institutions and law enforcement agencies when required.
• Mitigate financial loss and work toward fund recovery; assist internal and external partners in extensive check verifications, return check investigations, wire, ACH, and Debit Card Frauds.
• Review bank reports for potential patterns of fraud related activity and follow reporting methodology for findings.
• Manage multiple cases/investigations/reviews simultaneously and provide formal reporting.
• Prepare work papers to adequately document investigations performed with supporting evidence for all forensic findings.
• Prepare clear, comprehensive and cohesive investigative reports and memorandum in a timely manner.
• Interface with various levels of the organization, including Senior Management, legal counsel, and law enforcement as required.
• Provide guidance and assistance to fellow associates when needed.
• Assist department management by ensuring department activities are compliant and efficient.
• Provide relevant training and guidance to bank associates of all levels and job functions.
• Build effective relationships and work closely with senior personnel in Audit, Legal, Employee Relations, Independent Fraud Risk Management, Operational Risk Management, Loss Recovery Unit, Corporate Security, the Financial Intelligence Unit and Business Line Management.

Requirements

• Demonstrated prior fraud investigation experience and skills, including the ability to develop an investigation approach/strategy, obtain and analyze evidence, draw relevant conclusions, and recommend control enhancements.
• Ability to interact, influence, negotiate and challenge management when necessary.
• Demonstrated ability to work independently and complete cases/projects in a timely manner in a fast-paced environment.
• 2 years of risk management/fraud experience in financial industry or 4 year degree with 1 year of related banking experience.
• Working knowledge of research methodology of fraud and financial crime activities.
• Knowledge of fraud detection, prevention, authentication strategies and techniques to effectively communicate with clients and across business units to resolve risk and fraud issues.
• Ability to handle a variety of tasks simultaneously, strong organizational and communication skills, ability to work independently, and prioritize accordingly.

Nice-to-haves

• Licensed Fraud Certified Examiner preferred.