Card Fraud Specialist

JOB FUNCTIONS

• Manage, adjust, and document and recommend various controls to mitigate fraud across all channels including Checks, Deceased Accounts, Monetary Disputes, Debit/Credit Cards, et cetera whether by criminals, members, or VCU staff.
• Investigate and maintain records of all applicable fraud cases, reporting to higher agencies, when necessary, i.e., complete bond claims for fraudulent transactions as applicable for our insurance company or other forms as required third-party processors/vendors.
• Work to help protect members from losses related to fraud learning to recognize victims from participants.
• Responsible for the investigation of fraud, illegal or inappropriate activities that could result in losses or claims against the Credit Union as well as coordinate the recovery of losses due to fraud, illegal or inappropriate activities.
• Act as a liaison to local, state, and federal law enforcement agencies regarding issues pertaining to fraud, illegal or inappropriate activities, handle the exchange of information, and represent the Credit Union at required court appearances.
• Stay informed of current laws, regulations, common practices, and trends in the fraud/security investigation field including any member notifications.
• In coordination with the Department of Education and Development, educate Credit Union employees on how to identify and react to potential or actual fraud violation situations.
• Maintain market awareness regarding new and emerging fraud trends and tools/methods to detect and prevent fraud. Make recommendations to the Fraud Manager and Chief Risk Officer regarding these trends and their potential ability to overcome risks.
• Regularly review and investigate account alerts generated by ARCU reports, Verafin, Velera, or Mastercard.
• Conduct daily account activity review to identify suspicious activity. Work with members in processing required forms for card transaction fraud or disputes. Follow up on open cases as required.
• Process member card disputes and chargebacks, post transactions to member accounts and any general ledgers as needed. Assist with balancing and reconciling general ledger accounts as needed.
• Assist Fraud Specialist when necessary.
• Perform special tasks and projects as assigned by the Fraud Manager or Chief Risk Officer.

KNOWLEDGE

The individual should have three or more years of job-related experience with an above average knowledge of branch operations and general knowledge of the overall financial institution operations.

The specific technical knowledge required to perform effectively in this position is:

• Knowledge of financial institution policies and procedures including applicable federal and state regulations.
• Experience in all areas of credit union operations and security requirements including investigative techniques and practices.
• Skilled in researching transactions with financial institution data systems.
• Thorough knowledge of banking products and services.
• Advanced experience with Microsoft Word, Excel, and Outlook.

SKILLS

• The individual must be a team player who values building a unified team at both all levels including management and board; builds trust and confidence; and values appropriate feedback and guidance at all levels.
• Positive individual who is able to see the steps necessary to get things done; able to use controls and follow up effectively – stays aware of progress on key tasks; able to perform job without a lot of supervision; meets deadlines; willing to put in the necessary time to get the job done – but at the same time is a good time manager; and, willing to take responsibility for own actions.
• Effective communication and listening skills (an honest and open individual who can communicate in an up front and positive fashion; can comfortably deal with people on all levels; a good listener who is empathic with staff and member needs; and possesses above average written communication skills).

QUALITIES

• Integrity and high moral responsibility.
• Analytical ability, with the incisiveness to ask discerning questions.
• Works well with managers and staff to achieve group cohesiveness and objectives.

EDUCATION AND EXPERIENCE

• Incumbent should possess a minimum of two years of financial institution experience. A college degree in a business-related field or its equivalent of three to five years of financial institution experience is preferred. Attendance of banking industry schools, seminars, and workshops, as appropriate.
• Knowledge of applicable laws, regulations, financial services, and regulatory trends or specific knowledge of OFAC regulations and AML are a plus.
• An understanding of basic accounting procedures; interested in the welfare of people; and trained or experienced in communication techniques. Experience in all areas of branch duties and operations is a plus.

PHYSICAL REQUIREMENTS

The position requires the following physical activities within varying environmental conditions:

• Occasionally remaining in a stationary position which may be standing or sitting for a prolonged period of time.
• Occasional travel or moving from one office location to another or from one department to another at the headquarters building.
• Occasional lifting, moving, or adjusting objects up to 20 pounds.
• Constant communication with others through various channels including verbal, email, and chat of which the last two may require consistent use of a keyboard and mouse or another electronic device.
• Work will be in a commercially reasonable temperature-controlled environment.
• Occasional temporary exterior site review which could be in outdoor elements of wind, rain, or snow.