The Fraud Investigator is responsible for assisting in originating, implementing, and maintaining the Credit Union's Enterprise Fraud Risk Management Program to ensure conformity and adherence with all applicable state and federal laws and regulations. Provide support and guidance to the Credit Union’s fraud risk management efforts; serve as an advisor; assist regulatory agencies, law enforcement and/or auditor inquiries; review and write related policies and procedures; make recommendations when and where appropriate; create reports detailing the Credit Union’s fraud risk and trend related issues.
Conduct high priority and intricate investigations on external and internal fraud and other criminal matters either within or against TDECU. Assist with determine scope, timing, and direction of investigations, to include identifying case issues and evidence needed, based on analysis of evidence, complaints, or allegations of law violations. Work closely with the Senior Fraud Investigator, and Director of Security and Financial Crimes and the BSA/AML Team on possible account relationship closure to avoid continued loss; determine whether holds or account restrictions may need to be placed against accounts through analysis of the account relationship and the probability of loss to the Credit Union.
- Essential Duties and Responsibilities:
- Assist with determine scope, timing, and direction of investigations, to include identifying case issues and evidence needed, based on analysis of evidence, complaints, or allegations of law violations. Review information regarding suspected fraud cases and conduct interviews with members who have fraud or forgery claims and potential suspects, as needed. Handle all necessary documentation and required research. Make independent reimbursement decisions based on results of the investigation.
- Review and analyze risk activity on alerted accounts to determine potential fraud related to items such as checks or ACH items processed, credit or debit cards, kiting, new accounts or credit applications to determine application and data validity; and research suspect account activity and take appropriate action such as, but not limited to, restricting or closing accounts to prevent fraudulent financial transactions to mitigate loss to the Credit Union and its members in accordance with established rules and Credit Union policies and procedures.
- Work closely with the Senior Fraud Investigator, and Director of Security and Financial Crimes and the BSA/AML Team on possible account relationship closure to avoid continued loss; determine whether holds or account restrictions may need to be placed against accounts through analysis of the account relationship and the probability of loss to the Credit Union; assist in the determination if a Suspicious Activity Report (SAR) should be filed with Financial Crimes Enforcement Network (FinCEN).
- Support various business partners and branch personnel in the processing of operational charge-off losses.
- Partner with Fraud Analytics, Risk Management, and technology teams to identify data sources and develop processes for capturing required data.
- Work with various Credit Union personnel and law enforcement authorities in researching and investigating suspicious events; direct personnel in matters of compliance; and develop and maintain a working relationship with state and federal law enforcement agencies.
- Collaborate with multiple areas in the Credit Union to deliver complex fraud prevention projects and manage deliverables from inception to closure; make recommendations to management for improvements to various projects, tasks, and objectives; and describe business problems/solutions.
- Assist with the development, implementation, and monitoring of fraud prevention initiatives including concentration analysis and establishment of exposure limits.
- Assist in comprehensive self-testing, independent third party and regulatory audits; makes necessary preparations for such audits or exams; assists in the coordination of responses to external auditors and regulatory examiners; and ensure deficiencies identified from such audits and examinations are corrected.
- Maintain a high level of customer service while addressing member, law enforcement, merchant, and other outside requests.
- Provide written documentation to local law enforcement offices to aid in successful criminal prosecution of those involved in committing criminal offenses against TDECU.
- Own investigation process through adherence to proper case documentation. Investigate incidents and document recoverable and or prevented losses for TDECU due to fraudulent activity. Assist with maintaining a Case Tracking Log of all investigative files to reflect the recoveries and losses that have been prevented.
- Attend training sessions and stays current with security and loss prevention methodology and procedures to maintain high professional standards.
- Assist with training TDECU employees regarding fraud and current scams.
- Respond to and completes internal service requests assigned to the Security and Investigations department.
- Partner with other Financial Institutions, Law Enforcement Agencies, and Retail establishments to exchange information and coordinate case investigation collaborations on identified organized crime rings, public corruption, financial crimes, and other violations of federal or state statutes.
- Assist in maintaining the Credit Union's Enterprise Fraud Risk Management Program to ensure conformity and adherence with all applicable state and federal laws and regulations.
- Advise the Director of Security and Financial Crimes, of emerging fraud issues and consult and guide the Credit Union in the establishment of controls to mitigate risks.
- Provide support and guidance to the Credit Union’s fraud risk management efforts and serve as an advisor.
- Assist personnel in resolving inquiries or issues relating to fraud matters; participate in various internal committees assigned.
- Assume responsibility for various department functions in the absence of staff member or in overload situations.
- Essential education: High School Diploma or equivalent mix of education and experience is required.
Essential Experience
1-3 years of experience in fraud investigations or a similar position is required
Knowledge, Skills, And Abilities
Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals and to effectively present information and respond to questions from managers, members, and the general public.
Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent and to draw and interpret bar graphs.
Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form. Ability to deal with problems involving several concrete variables in standardized situations.
Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.
Ability to maintain confidentiality and instill trust within the organization.
Proficient in Microsoft Word, Excel, and PowerPoint.
Ability to multi-task, including researching information through multiple systems, in order to make judgmental decisions based on the data reviewed.
Advanced knowledge of related state and federal banking compliance regulations, Bank operational policies and procedures, and the Bank’s products and services.
Advanced knowledge and ability to detect and identify various white-collar crimes, general fraud, and money laundering schemes using various fraud prevention controls and monitoring systems.
Proactive and ability to manage work yourself.
Strong project management skills.
Strong teamwork, organization, and problem resolutions skills.
Display a commitment to development and stay abreast of current trends in the marketplace.
Build collaborative and productive relationships across the enterprise.
Advanced knowledge of the overall departmental function.
Experience with Fraud Warning systems and Reporting systems, Such as, Verafin, Early Warning, and Informant
Strong customer service skills with the ability to effectively research and resolve issues and discrepancies.
Ability to work flexible hours; demonstrated good attendance and punctuality.
Physical Demands And Work Environment
(The physical demands and work environment characteristics described herein are representative of those that must be met by an employee to successfully perform essential functions of this position and/or may be encountered while performing essential functions. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.)
While performing the essential duties of this position, an employee would frequently be required to stand, walk, and sit. An employee must frequently lift and/or move up to 10 pounds and may occasionally lift and/or move up to 25 pounds to perform essential position functions.
Specific vision abilities required by this position include close vision, distance vision, and the ability to adjust focus. The noise level in the work environment is usually moderate.
Disclaimer
The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties, and skills required of personnel so classified.
Texas Dow Employees Credit Union is an equal opportunity employer, dedicated to a policy of non-discrimination in employment on any basis including race, color, age, protected veteran status, sex, religion, disability, genetic information, national origin or other status protected by federal, state or local law. Consistent with the American Disabilities Act, applicants may request accommodations needed to participate in the application process.