Account Fraud Analyst
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Position Summary
The Account Fraud Analyst is responsible for reviewing, processing, and resolving low- to medium-risk Automated Clearing House (ACH), check, real-time payment and wire funds transfer fraud cases and account alerts. They ensure the timely and accurate handling of disputes in compliance with regulatory guidelines. This role requires strong analytical skills, a thorough understanding of Automated Clearing House (ACH), check, real-time payment, and wire funds transfer banking transactions, dispute processes, related regulations, and knowledge of fraud trends and prevention strategies. Additionally, the Account Fraud Analyst must effectively communicate with members, merchants, and internal teams to resolve cases.
Principle Duties and Responsibilities
Works with purpose, driven to provide an exceptional experience for both team members and members.
Willingness and ability to exhibit Wellby Core Values every day.
Reviews, processes, and resolves low- to medium-risk ACH, check, real-time payment, and wire funds transfer dispute cases, including conducting thorough research, processing chargebacks, determining provisional credit eligibility.
Issues provisional credits to members in accordance with Regulation E guidelines when timely resolution cannot be achieved.
Utilizes dispute and case management systems to accurately input, track, and update case and alert information.
Ensures complete and accurate case documentation, maintaining high data integrity standards.
Monitors case statuses to ensure timely resolution in compliance with regulatory and internal procedural requirements.
Independently reviews and analyzes alerts and reports to identify suspicious transactions, determine appropriate resolutions, and take necessary actions. Collaborates with team members to determine the most appropriate action to safeguard assets and mitigate risk.
Communicates case updates and guidance clearly to members and internal teams throughout the resolution process.
Assists in preparing reports on key performance metrics, financial impact, and fraud prevention efforts.
Collaborates with senior analysts to propose improvements in fraud detection systems, processes, and strategies.
Supports the implementation of enhancements to fraud prevention and detection systems, procedures, and processes.
Stays current on emerging ACH, check, real-time payment, wire funds transfer, other fraud trends, and regulatory requirements to contribute to fraud prevention and mitigation efforts.
Actively participates in fraud prevention and mitigation initiatives and internal projects.
Contributes to developing and delivering fraud prevention training programs for internal teams and members.
Assists in training entry-level analysts, sharing best practices and knowledge.
Ensures compliance with NACHA (ACH), UCC (check fraud), Regulation E (electronic transfers), applicable federal and state laws, banking regulations, and Wellby Financial policies and procedures.
Completes all required enterprise-level compliance training, including but not limited to BSA, OFAC, Privacy, and Information Security, as well as any external training necessary to gain or maintain certification(s).
Maintains confidentiality regarding internal and external member business affairs.
Performs related duties and special projects as assigned, including participation on credit union project teams.
Knowledge, Skills, and Abilities (KSA)
Knowledge of regulations governing financial institutions, including federal, state, and local laws related to fraud investigation, as well as Regulation E, NACHA rules, UCC, and fraud prevention strategies.
Knowledge of ACH, check credit and debit card, wire transactions, and real-time payment banking transactions.
Knowledge of dispute processes and fraud trends.
Knowledge of general office procedures, including business communication and basic arithmetic.
Knowledge of the personal computer, utilizing Microsoft Office Suite (e.g., Excel, PowerPoint, Word) and relevant software, including virtual communication tools (e.g., Microsoft Teams, Zoom).
Knowledge of Banno, Image Center, Lexis Nexis, Meridian Link, Open Text, Symitar, Verafin, Verkada, and Wire Exchange.
Skilled in organization with significant attention to details in work.
Ability to identify improvement opportunities.
Ability to maintain integrity, confidentiality, and professionalism in all interactions.
Ability to efficiently understand and follow oral and written instructions, perform routine duties without close supervision, and establish and maintain effective working relationships with other team members.
Ability to communicate clearly and concisely, both orally and in writing, with members and internal stakeholders.
Ability to work as a part of a team or independently to achieve results.
Ability to prioritize tasks and multi-task effectively in a high-volume environment while maintaining accuracy and meeting deadlines.
Ability to coordinate multiple activities simultaneously.
Ability to exercise independent judgment and communicate information effectively to ensure understanding.
Ability to train and mentor junior analysts.
Supervisory Responsibilities
This role does not have supervisory responsibilities.
Complexity & Scope of Work
The team member will ensure policies, procedures, and programs are consistently administered, aligned with organizational goals, and compliant with professional standards.
The team member performs a variety of related tasks, which are mostly routine.
Tasks may occasionally have to be coordinated, integrated, and/or prioritized.
Courses of action are determined by established procedures and/or their leader
The team member’s work is reviewed periodically for accuracy, completion, and compliance with the policies and procedures.
Non-routine situations or conflicts are usually referred to leadership for resolution.
Physical Demands & Work Environment
The physical demands and work environment characteristics described here represent those that must be met by a team member to perform the essential functions of this position successfully. Reasonable accommodations may enable individuals with disabilities to perform essential functions.
To perform this job successfully, the team member is frequently required to remain in a stationary position 50% of the time. Daily movements include sitting, standing, reaching, and grasping; operating computers and other office equipment; moving about the office; and attending possible onsite and offsite meetings.
The team member must be able to exchange information in person, in writing, and via telephone. Some degree of stress results from contact with management and other team members.
The ability to observe details at close range (within a few feet of the observer).
Must be able to occasionally lift items weighing up to 25 pounds across the office and load them onto shelves for various needs.
The noise level in the work environment is usually moderate.
Work involves the typical risks and discomforts associated with an office environment but is usually in an adequately cooled, heated, lighted, and ventilated area.
Minimum Qualifications
Associate’s degree required.
Minimum two (2) – five (5) years of experience in payment fraud prevention, detection, mitigation, and analysis. One year of required education may be substituted for one year of experience.
Accredited ACH Professional (AAP), National Check Professional (NCP), or other comparable designation preferred.
Strong conflict resolution and negotiation skills through appropriate persuasion and genuine empathy.
Bondable