Fraud Risk Analyst

Job Description

Job Description

SUMMARY

First Bank is seeking an experienced Fraud Risk Analyst who will be an integral member of our first line Fraud Operations team focused on detecting, analyzing, and mitigating fraud and financial transaction risk across the bank. We are seeking a team member that is committed to protecting our clients and the bank from fraud and relentless in their focus on fraud risk mitigation, while upholding an excellent client experience.

Fraud Operations team members maintain a balanced sense of intellectual curiosity. In this role you will focus on determining the root cause of problems and escalations, evaluate explanations and supporting records, and perform thorough due diligence to validate the information reported and your understanding of it. This spans across all aspects of your work, from reviewing incoming escalations and high-risk transactions, to investigating and validating leads, to proactively identifying patterns of abnormal behavior. With the understanding that the findings can have serious implications, you will make well-founded and trustworthy decisions.

In this role you will spotlight opportunities for continued improvement while not losing sight of the day-to-day commitments and shared team functions. There is a consistent focus on quality and accuracy while dually meeting cut-offs and deadlines which can range from monthly and weekly to daily and hourly. This role requires an individual who can tackle challenges efficiently, while still maintaining a high-level of precision, discretion, and professional maturity needed for sensitive fraud and risk matters. A growth mindset and ability to learn new skills, systems, and cross-train with peers is imperative for success. This is a foundational role on a high-visibility and expanding team at First Bank.

ESSENTIAL FUNCTIONS

Fraud detection and prevention involving transaction risk assessment of the following transaction types which can include but are not limited to ACH, peer-to-peer transfers including Zelle, external transfers, bill pay, check, ATM, wire transfer, debit card and credit card transactions, mobile remote deposit capture (MRDC), remote deposit capture (RDC).

Risk analysis ranging from moderate to complex and informed escalation of transactions or trends of transactional activity over time for investigation.

Research and detection of indicators of credential compromise, financial exploitation, account takeover, money laundering, attempted unauthorized access, or other related fraud and risk.

Independent correlation of information across multiple data sources to effectively decision an alert, assess account risk, or complete after-action due diligence.

Triage and research of high volumes of inbound communications and escalations for investigative referral.

Prompt and professional communication to internal stakeholders related to a range of escalations types.

Development of clear, consistent, and well-founded fraud risk guidance that can be shared with an impacted customer or external party.

Facilitation of recovery and processing of fraud loss through direct collection, hold harmless, and other processes.

Review of risk-related, charge off, negative balance, and dispute reports and notifications for trends and anomalies to identify potential control gaps or initiate account reviews or investigative referral.

Review and assessment of account and system level controls to determine tolerance and recommended changes based on perceived threats and security risks.

Effective pattern analysis across a range of data sources and development of root cause findings.

Collaboration with cross-functional teams to strengthen fraud detection and awareness of related tactics, techniques, and protocols.

Technology and system enhancement through proactive identification and clear communication of risk and fraud prevention process improvement opportunities.

Completes annual compliance courses.

Adheres specifically to all corporate policies and procedures. Also adheres to Federal and State regulations and laws; including, the Bank Secrecy Act and the Anti-Money Laundering Act.

Adheres to all levels of our Service Excellence standards.

Performs other duties as required.

GENERAL QUALIFICATIONS

Knowledge & Experience : These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. Individual abilities may result in some deviation from these guidelines.

Three years of related experience in the banking or financial services industry and a Bachelor’s degree from a four-year college or university, or five years of related experience that provides the necessary skills and knowledge to satisfactorily perform the essential job functions may be substituted.

Proven and consistent experience identifying fraud through a range of banking transaction types.

Strong analytical and pattern recognition capabilities to spot trends and inconsistencies within transactional and customer data to detect, prevent, mitigate, and report high risk or abnormal activity.

Proficiency in fraud detection tools, core and online banking platforms, and ability to independently complete link analysis across systems.

Excellent communication and report-writing abilities and documentation of analysis in a logical manner that sufficiently supports decisions.

Capacity to work calmly, communicate succinctly, and make definitive decisions under pressure.

Unwavering professionalism and focus on management and handling of sensitive information with integrity.

Strong interpersonal skills and ability to build positive relationships with a range of both customer-facing and back office teams.

Broad knowledge of fraud risk-related behaviors, trends, patterns and typologies.

Demonstrated leadership by positive example through mentorship across peer group and team.

Interest in fraud intelligence, cyber investigations, physical security, information security, and enterprise risk and cross-collaboration with these teams is a plus.

Physical Demands / Work Environment : Vision, hearing, speech, dexterity, visual concentration. A valid driver’s license is required. Must have the ability to stand, walk, sit and use hands and fingers. Must have the ability to work the hours and days required to complete the essential functions of the position, as scheduled. The environment is a professional office with standard office equipment.

Cognitive Requirements : Learning, thinking, concentration, ability to exercise self-control, ability to work in a customer relations’ environment. Must be able to pay close attention to detail and be able to work as a member of a team. Must have the ability to interact effectively with co-workers and customers, and exercise self-control and diplomacy in customer and employee relations’ situations. Must have the ability to exercise discretion as well as appropriate judgments when necessary.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.