Summary PenFed is hiring a Fraud Analyst for the Financial Security Office (FSO). The Fraud Analyst will work with the FSO and Financial Intelligence Unit (FIU) teams to combat corporate-wide fraud to include, first party fraud, third party fraud, deposit fraud and loan fraud. The Fraud Analyst’s responsibilities include all aspects of fraud prevention, detection, and mitigation of fraud losses using technology and analytical skills. The Fraud Analyst will authenticate new members’ identity and verify their intent to establish membership with PenFed using fraud solutions technology, analyzing documents and making contact with members. This position also involves analyzing reports and data to identify fraud patterns and trends in an effort to detect, prevent and mitigate fraud losses. He/she will also be responsible for properly documenting and reporting fraud trends, potential losses and actual losses. Essential Functions Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned.
Independently analyze and respond to alerts and reports received from multiple sources including fraud detention software, Fiserv’s FCRM system and other PenFed internal systems (i.e. Hogan, Penguin) to detect and evaluate suspicious and fraudulent transactions.
Investigate leads received via email, phone or other referrals from PenFed business units, other financial institutions, law enforcement, and members in furtherance of fraud identification and the recovery of losses.
Effectively communicate with fraud victims to establish proper protocols in regards to fraud education, identification and reporting.
Use judgement while working directly with members, department managers, law enforcement officials, and the general public to identify and investigate suspicious and potentially fraudulent activities, both internal and external to PenFed.
Effectively gather information and evidence from multiple sources, including system data, transaction records, online sources, interviews, and other channels.
Independently conduct research through available means including internal and external databases, phone calls, and Internet searches to obtain information.
Provide well-documented results of research and analysis of data to management.
Ensure proper action is taken to limit potential fraud losses when suspicious or fraudulent activity is identified.
Prepare Suspicious Activity Reports (SARs) with limited corrections and ensuring that a comprehensive and well organized case summary is completed.
Contribute to the planning, research, design, development and implementation of process enhancements to create efficiencies.
Serve as a fraud subject matter expert while developing and maintaining excellent working relationships with other PenFed business units.
Plan and coordinate activities and workload to ensure timely and accurate completion of tasks within established timelines.
Have knowledge of laws, regulations, policies and procedures applicable to the FIU, and ensure business and operational activities are consistent and compliant with all requirements.
Keep up-to-date with current fraud trends in the financial services industry.
Assist with preparing and delivering fraud training and assist with fraud awareness and loss prevention efforts.
Authenticate new members’ identity and verify their intent to establish membership
Bachelor’s degree from an accredited college or university is required.
Two years of bank or credit union operational experience with knowledge of products, services, systems, operational policies and procedures, and regulatory compliance issues, is required.
Knowledge of various data analysis software and tools such as MS-Excel, Word and Accurint is required.
Comprehensive understanding of fraud schemes, fraud trends and money laundering techniques is required.
Working knowledge of the Fair and Accurate Credit Transactions Act, Bank Secrecy Act, and other regulations related to fraud activities, schemes, and investigations is strongly desired.
Strong professional and interpersonal skills, and the ability and willingness to work collaboratively with others, are essential.
Demonstrated ability for complex problem solving, and research skills are essential.
Strong attention to detail and delivering a thorough, high-quality work product is essential.
The ability to work under pressure, act decisively, and consistently meet deadlines is required.
Strong oral and written communication skills are required.
Experience preparing Suspicious Activity Reports (SARs) is desired.
Highly effective organizational, time management and prioritization skills are essential.
Certified Fraud Examiner (CFE) or similar Certification preferred.