Fraud Detection Analyst

Alexandria , Virginia
Sep 25, 2017
Oct 16, 2017
Full Time



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.

Education and Experience

    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.

Supervisory Responsibility

This position will not supervise employees


Licenses and Certifications

CFE. CAMS, or a similar certification is preferred.


Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*



Ability to travel to various worksites and be on-call is required.



About Us

Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 1.6 million members and over $23 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico, Okinawa, and Portugal. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day.


Our mission isn’t simply to help our members get by. We exist to help them realize every ounce of their potential. We exist to educate, and to encourage. We exist to usher their dreams into the land of reality.


We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more.


Equal Employment Opportunity

PenFed will maintain and observe personnel policies which will prohibit discrimination or harassment against a person because of race, color, creed, age, sex, gender, religion, national origin, ancestry, genetic information, military or veteran status or obligation, the presence of a physical and/or mental disability and all other statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment.  PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.


PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 703-838-1568.


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