Fraud Investigator

It's fun to work in a company where people truly BELIEVE in what they're doing!

We're committed to bringing passion and customer focus to the business.

Position Summary:

The role of the Fraud Investigator analyzes leads for suspicious activity, including those generated from detection software and internal referrals. This position conducts complex investigations aimed at identifying criminal activities and gathers evidentiary information to maintain comprehensive case files in effort to mitigate fraud risk and reduce fraud loss. This role works closely with credit union teams to assist with the deterrence and investigation of fraud and requires the ability to employ various methods of analysis and provide clear documentation of all findings.

Principle Duties And Responsibilities

• Works with purpose and is driven to provide the best team member experience.
• Willingness and ability to exhibit Wellby Core Values every day.
• Provide support to credit union teams to mitigate fraud in pursuit of our business objectives.
• Detect fraudulent transactions and patterns with a high degree of accuracy by proactively identifying abnormal activity to mitigate significant financial and reputational impacts to the credit union.
• Review member transactions to identify fraudulent activity such as account take over, "friendly fraud," theft, and other risks originated from all channels, including, but not limited to, the following: mobile deposit, shared branching, ACH, check, wires, debit, and credit cards.
• Mitigate loss by conducting investigations to identify opportunities to protect credit union assets and/or recover losses associated with fraud, theft, and other risks.
• Review suspicious checks to identify counterfeit, altered, forged, and scam-related fraud.
• Research instances of suspicious activity from the credit union's digital channels to detect and deter fraudulent account opening, identity theft, and other forms of suspicious account activity.
• Analyze and investigate fraud trends using existing resources and tools to recommend and deploy measures to control and reduce fraud losses with third party fraud detection vendors.
• Make sound subjective decisions to mitigate losses from accounts demonstrating high-risk behavior, which should be considered for closure, restriction, service removal, heightened monitoring, or similar actions, including determining to restrict/cancel debit cards and place administrative holds.
• Prepare communication and executive summaries for review by respective business leaders, including notifications, status updates, and recommendations related to fraud prevention and investigations.
• Provide support by recommending and reviewing fraud related content for digital marketing, social media, and training as needed.
• Work with the BSA Team and other business units to ensure that proper reporting occurs in alignment with BSA requirements.
• Understand and comply with applicable Federal and State laws, banking regulations, and Wellby Financial policies and procedures and ensure alignment with applicable internal policies, procedures, and processes.
• Act as the liaison between the credit union and law enforcement by responding to requests for surveillance and other documentation regarding credit union incidents.
• Create and prepare monthly reports related to fraudulent activities on transactions originated from all channels, including, but not limited to, the following: mobile deposit, shared branching, ACH, check, wires, debit, and credit cards.
• Complete all required, ongoing enterprise-level training including, but not limited to, BSA, OFAC, Privacy, and Information Security.
• Maintain all business affairs of both internal and external members confidentially.
• Maintain the highest levels of integrity and professionalism.
• Perform related duties and special requests as assigned, including representation on credit union project teams.
  
  

Knowledge, Skills, And Abilities (KSA)

• Knowledge of Wellby’s organizational functions, and general operating policies and procedures.
• Knowledge of secretarial practices and procedures, business English, spelling, and punctuation.
• Knowledge of the regulations which govern financial institutions
• Knowledge of Regulations E and Z, Nacha Rules, UCC 3, and card brand network rules
• Skilled in Microsoft Office Suite (e.g., Excel, Power Point, Word)
• Skilled in operating computer equipment and general machines such as personal computer, copier, projection equipment, audio/video, Microsoft Teams, Zoom Video Communications, and adding machine.
• Skilled in investigative and analytical skills, including documenting findings to support account reviews
• Ability to communicate information and ideas office so others will understand. Must be able to exchange accurate information in these situations.
• Ability to multi-task, maintain accuracy, and meet deadlines in a fast-paced, high-volume environment
• 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, orally and in writing.
• Ability to coordinate several concurrent activities simultaneously.
• Ability to work independently with little direction.
  
  

Supervisory Responsibilities

• Team member does not have any supervisory responsibilities.
  
  

Complexity & Scope of Work

• The team member performs a moderate number of routine and generally related tasks without supervisory direction.
• Instructions to the team member may be general or specific in nature.
• 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.
• Tasks may occasionally have to be coordinated, integrated, and/or prioritized.
  
  

Physical Demands & Work Environment

• The physical demands and work environment characteristics described here represent those that must be met by a team member to successfully perform the essential functions of this position. Reasonable accommodations may enable individuals with disabilities to perform the 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 to 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 applicants, 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 office and load 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 area that is adequately cooled, heated, lighted, and ventilated.
  
  

Minimum Qualifications

• Bachelor's degree in related field or equivalent combination of education and experience.
• Minimum of three (3) years in a fraud detection/investigation or risk management role.
• Certified Fraud Examiner with knowledge in criminal justice or fraud prevention preferred
• Conflict resolution and negotiation skills through appropriate persuasion and genuine empathy
  
  

For All Candidates:

This is a Full-Time, Salary (exempt) role.

Wellby is an equal opportunity and affirmative action employer and gives consideration for employment to qualified applicants without regard to race, color, religion, sex, national origin, age, disability, genetic information, sexual orientation, gender identity or expression, pregnancy, veteran status or any other legally protected characteristic. If you'd like more information about your EEO rights as an applicant under the law, please contact Human Resources.

Wellby provides equal opportunity to qualified individuals with disabilities and disabled veterans. If you need a reasonable accommodation, please email careers@wellbyfinancial.com or call 281-226-1696 for assistance.

Disclaimer

The statements herein are intended to describe the general nature and level of work being performed by team members and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified. Furthermore, they do not establish a contract for employment and are subject to change at the discretion of the Company.