Fraud Detection Analyst
Summary PenFed is hiring an Analyst, Fraud Detection in our Alexandria, Virginia, Eugene, Oregon or Omaha, Nebraska location. The primary purpose of this job is to detect potential fraudulent activity from multiple sources including detection software, referrals from the Financial Intelligence Unit (FIU) or other PenFed personnel, and PenFed internal systems and reports. 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.
Work independently to analyze alerts and reports generated from multiple sources including detection software, Fiserv’s FCRM system or other internal systems (i.e. Hogan, Penguin) to detect and evaluate suspicious activity.
Extract meaning from large quantities of complex date, make connections, and identify anomalies, trends, and reoccurrences as it relates to fraudulent activity.
Work directly with members, department managers, law enforcement officials, and the general public to identify and investigate unusual, suspicious, and potentially fraudulent activities, both internal and external to PenFed.
Assist in providing data that will be used to develop a comprehensive and well organized case summary and route to the BSA/AML team for SAR filing.
Determine and recommend the appropriate course of action when fraud is detected and provide well-documented results of research and analysis.
Develop and maintain strong working relationships with PenFed business units, including Information Technology, to assist in development of strategies and controls to detect fraud and mitigate losses.
Provide continuous analytical support with various types of ongoing fraud investigations.
Ensure proper controls are in place for the detection and prevention of suspicious activity include the use of automated systems, reports, and other technological tools.
Develop recommendations for additional control requirements and process enhancements.
Keep up-to-date with current fraud trends in the financial services industry.
Represent PenFed and the FIU at relevant financial services and business liaison meetings.
- Review nearly all potential cases and determine if they are suspicious, compile a case summary, and escalate to the appropriate team for investigation and resolution.
Bachelor’s Degree in Accounting, Finance, Statistics, Economics or related field is required. Computer Science and Criminal Justice degrees will be consider with appropriate experience.
Minimum of two (2) years’ experience in data analytics, forensic accounting, fraud investigations, or BSA/AML is required.
Experience working with large datasets and knowledge of various data analytics software packages and tools (e.g., MS-Excel, SAS, SQL or ACL).
Financial and business acumen, along with strong technical skills are key components of this position.
Strong oral and written communication skills are required.
Highly effective organization, time management, and prioritization skills are essential.
Equivalent combination of education and experience will be considered.