Role: Key defender of our institution's financial integrity. Identifying and analyzing threats, mitigating risk, and protecting our members from fraudulent activity. Act as a senior resource within the team, supporting leadership by contributing to departmental objectives.
Essential Functions & Responsibilities:
- Develops, maintains, and implements processes, procedures, and monitoring strategies to enhance the effectiveness and efficiency of fraud detection, loss prevention, and risk management programs. Identifies process improvement opportunities, recommends solutions, and collaborates with leadership to strengthen controls, mitigate risks, and ensure compliance with regulatory requirements and organizational policies.
- Serve as a subject matter expert for Credit Union employees, providing education, support, and mentorship on fraud and loss prevention topics. Provide secondary review and coaching for junior specialists.
- Prepare and present status reports and key metrics on fraud trends and case resolutions to management.
- Analyzes high-risk accounts and activities to determine appropriate action, including regulatory reporting requirements, service restrictions, account closures, criminal prosecution referrals, loss recovery efforts, and bond claims. Gathers and prepares supporting documentation, submits timely and accurate reports to Compliance and regulatory agencies, collaborates with local government and law enforcement agencies, and serves as the primary contact for insurance representatives to ensure compliance with all policies, procedures, and regulatory requirements.
Performance Measurements:
- Demonstrates subject matter expertise through effective coaching, training, secondary review, employee support, and development of fraud prevention resources that enhance team knowledge, performance, and operational effectiveness.
- Provides accurate, timely, and actionable reporting and analytics by identifying emerging fraud trends, communicating risk concerns, and delivering management reports and dashboards that support informed decision-making and risk mitigation.
- Effectively manages high-risk investigations and compliance activities through timely account reviews, accurate regulatory reporting, thorough case documentation, successful recovery efforts, and adherence to all applicable policies and regulations.
- Contributes to overall business impact by preventing and mitigating fraud losses, reducing recurring fraud risk, supporting departmental objectives, maintaining audit and compliance standards, and fostering effective collaboration with internal and external partners.
Knowledge and Skills:
Experience: 3-5 years of experience in a similar fraud, risk, or loss prevention role within a credit union or other financial institution.
Education: (1) A high school education or GED or (2) Completion of a specialized course of study at a business or trade school.
Interpersonal Skills: Work involves significant personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, obtaining information, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.
Other Skills:
- Proficient in key financial regulations, including BSA/AML, FinCEN requirements, and Regulations E and CC.
- Proven ability to conduct detailed research, analyze complex data to derive facts, and make sound, independent judgments in ambiguous situations.
- Exceptional organizational skills with the ability to manage multiple priorities and meet tight deadlines in a fast-paced environment.
- Skilled in using online banking platforms and Microsoft Office Suite (Word, Excel) to manage financial data and streamline workflows.
Physical Requirements: Light lifting is required.