FIU Fraud Analyst

9-2024

Position: Fraud Analyst 
Job Type: Full Time
Location: Taunton, Massachusetts
Department: Enterprise Risk Management                                                              

 OVERVIEW:

The Fraud Analyst role is responsible for reviewing and analyzing underlying data gathered to assess reasonable cause to escalate an inquiry related to fraud. The data provided is accompanied by full documentation, supporting artifacts to include internal and external due diligence checks as well as a business case justification. This role is primarily at an individual contributor , however, it expected that the role  collaborates closely with other members of the financial intelligence unit (FIU) as well as with other lines of business. 

PRIMARY ACCOUNTABILITIES / RESPONSIBILITIES:

Performs any functions necessary, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers and the community in which it serves.

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1. Develops, implements, monitors and provides performance tracking of transaction and account level management of fraud strategies and fraud mitigation tools, including monetary and non-monetary events.
2. Conducts time-sensitive investigations of potentially fraudulent activity generated through transaction monitoring alerts and/or internal referrals.  Escalates applicable activity to the necessary internal teams and management as needed.

3. Serves as the liaison to law enforcement agencies, including but not limited to Police, FBI, and/or Secret Service, attending applicable court proceedings, and any other tasks relating to fraud.
4. Develops, drafts and maintains a Fraud Management Policy to document Bank standards and controls that are in place to mitigate   fraud .

5. Evaluates operational risks that could expose the bank to fraud and makes recommendations for continuous improvements to the Bank internal controls, processes or procedure to further mitigate fraud risk..
6. Monitors and maintains the Bank’s Financial Exploitation Program and serves as a direct report to the Bank’s internal Financial Exploitation Team and assists with reporting suspected and confirmed cases of exploitation to their applicable agencies when applicable.

OTHER ACCOUNTABILITIES / RESPONSIBILITIES:

1. Performs backup duties for Security Officer including but not limited to:
   1. After-hours security calls
   2. Administration of physical security access requests in accordance with internal procedures.
   3. Serves as a liaison to business lines for security related matters in the absence of the Security Officer.

2. Performs backup duties for the FIU – Debit/ATM Card Specialist
3. Monitors automated fraud alerts related to Debit/ATM card transactions; recommends fraud-deterring strategies as possible.
4. May assist with disputes within the Bank’s Reg E Dispute platform and complete investigations.

3. Performs other duties as assigned by Management.

POSITION REQUIREMENTS:

 The successful candidate for this position must meet the following requirements:

• High school degree or equivalent and at least three (3) years of experience in the banking industry or similar experience in the field of fraud required.        

Preferred experience/knowledge:

• Bachelor’s degree in Business Administration with a major in criminal justice, finance, or accounting.
• A minimum of one to three years of direct fraud experience, preferably within the banking, financial services, or insurance industries.  
• Certified Fraud Examiner (CFE) Certification designation from the Association of Fraud Examiners (CPE) or equivalent industry certification.

Required Knowledge, Skills, and/or Abilities

• Strong knowledge of internal control concepts relative to banking organizations.  
• Proficiency in third party vendor systems (e.g. COCC Insight, Centrix, and Verafin).
• Excellent analytical, planning organizational, communication, and decision-making skills.
• Strong written and verbal communication skills.
• Strong interpersonal skills; must be able to interface professionally and collaboratively with all levels of associates.
• Strong problem-solving abilities with both analytical and independent judgement of large sets of data.
• Ability to work in a dynamic environment, handle multiple time sensitive priorities and manage workload based on evolving business needs and regulatory expectations.
• Ability to work proactively and identify solutions to business problems with consideration for known constraints.
• Strong attention to detail and ability to work independently as well as part of a team.
• Proficiency with the Microsoft Office suite (i.e. Word, Excel, Visio and PowerPoint).

SUPERVISORY SCOPE:

Not applicable.

 INDEPENDENT ACTION:

Establishes short-range plans aligned with the strategic Enterprise Risk Management objectives.  

 QUALIFICATIONS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required.  Any physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.  Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.