Risk Management Analyst

· Financial - Philadelphia, PA

Full-time - Mid Level

Philadelphia, PA

Credit Intermediation and Related Activities

About the position

The Risk Management Analyst position at Police and Fire Federal Credit Union (PFFCU) involves overseeing and managing fraud-related activities, including debit card disputes, check deposit reviews, and fraud investigations. The role is crucial in ensuring the security of member accounts and minimizing financial losses due to fraudulent activities. The analyst will work closely with members, financial institutions, and law enforcement to evaluate and mitigate risks, while promoting corporate values of member service and teamwork.

Responsibilities

• Create/evaluate and process reports to extend holds on check deposits when needed in accordance with Reg. CC to prevent fraud losses.
• Verify suspicious checks with other financial institutions and verify payees when necessary.
• Work with the IRS on suspicious tax refunds/deposits.
• Assist branches in placing the proper holds on accounts.
• Review line of credit activity and delay availability if necessary to prevent fraud/losses.
• Notify members of actions taken and handle member calls concerning check holds.
• Inform management immediately if the Credit Union appears to be a target of more than merely isolated incidents of fraud.
• Notify Operations to return checks as Late Returns, when possible, to reduce check losses.
• Process and evaluate denials processed by card processor on our behalf.
• Investigate claims to determine if activity is valid or unauthorized, speaking with members and merchants as needed.
• Take action on member accounts based on investigation results, such as closing cards or ordering replacements.
• Provide provisional credits and reverse when warranted, settling accounts of chargebacks and provisional credits.
• Review VISA reports for unusual and possible fraudulent VISA activity and contact members to confirm activity.
• Work with various areas to investigate suspicious activity and limit/prevent fraud.

Requirements

• Knowledge of ATM, Debit Card (Reg E), Check (Reg CC), and VISA and STAR rules, regulations, and procedures.
• Ability to interact with members, financial institutions, and possibly law enforcement agencies.
• Critical thinking to analyze account activity and other information.
• Attention to detail to ensure all actions are documented accurately and timely.
• Discreetness in maintaining confidentiality of information.
• Ability to evaluate current fraud situations and formulate recommendations to reduce future occurrences.
• Ability to use a personal computer and familiarity with Microsoft Excel and Word.

Nice-to-haves

• Experience in fraud investigation and recovery processes.
• Familiarity with financial regulations and compliance standards.

Benefits

• Dental insurance
• Health insurance
• Paid time off
• Vision insurance
• 401K with automatic 6% contribution after 1 year
• 4 weeks PTO annually