Fraud Prevention Officer II

Level I:

• Remains cognizant of and adheres to Credit Union policies and procedures, and regulations pertaining to the Bank Secrecy Act, OFAC and the Right to Financial Privacy Act.
• Investigates suspicious transaction activity related to accounts and online banking such as new accounts, loan applications, and account activity.
• Identifies trends related to account/loan fraud.
• Identifies and investigates suspicious accounts and loan applications. Works cooperatively with other departments.
• Uses a variety of sources for information, including application and authentication tools/models to identify and validate applicant data and transactions from various systems.
• Responds to calls/contacts from Credit Union employees asking for assistance with members inquiring about new accounts, loan applications and account activity.
• Responds to member inquiries appropriately.
• Responds to and investigates acts of reported fraud activity from various systems.
• Monitors department’s fraud detection systems for suspicious activity.
• Participates in continuing education to maintain an understanding of fraud trends and related laws and regulations affecting financial institutions.
• Notifies the Financial Crimes and/or Risk Management Departments of suspicious or fraudulent activity for further investigation and reporting to law enforcement.

Level II: Includes all responsibilities of Level I and the following.

• Participates in cross-departmental teams to identify and evaluate losses, analyze trends, and provide loss mitigation recommendations to senior management.
• Reviews application system fraud rules and weighting to ensure manual reviews are minimized and rules represent desired risk tolerances. Provides feedback to management regarding recommended changes.
• Develops analytical reports that will identify fraud.
• Assists in classifying losses as fraudulent and performs tracking in loss database, if applicable.
• Participates in the selection of application fraud detection tools and systems.
• Identifies, investigates, and decisions suspicious accounts and loan applications. Works cooperatively with other departments.
• Identifies and decisions new account and loan applications using the department’s fraud detection systems for suspicious activity related to identified fraud rings.
• Participates in meeting with existing vendors for the development of additional rules or system enhancements.

Level III: Includes all responsibilities of Level I and II and the following:

• Identifies and evaluates fraud trends identified during application reviews and other fraud investigations as applicable and develops and implements process changes and fraud detection solutions to reduce potential fraud losses. Works with other departments to develop organizational fraud prevention solutions, as necessary.
• Creates playbooks, action plans and processes for key fraud events to ensure prevention workflows are established.
• Provides oversight for application fraud detection tools and systems and reviews/updates procedures to ensure quality control processes are working effectively.
• Participates in Credit Union presentations to employees.
• Evaluates and decisions alerts in a case management/transaction monitoring system and takes appropriate action to prevent losses as authorized.
• Researches and processes member and non-member disputes within regulatory timeframes.
• Provides assistance to Financial Crimes Investigators for legal document collection, account fraud and abuse.
• Identifies activity that meets Suspicious Activity Report (SAR) filing criteria and prepares SAR cases for review and escalation to senior staff.
• Provides complete summaries of cases for senior staff to use in making SAR decisions.
• Researches cases of reported fraud or suspicious activity on members’ accounts.
• Files police reports and Bond Claims when appropriate.
• Interviews members and victims using effective communication skills to gather information and makes recommendations for further action.
• Takes appropriate action to mitigate fraud losses and assist members with resolving account takeover, check fraud, ACH fraud, wire fraud and other fraud claims.
• Makes recommendations related to account restrictions/termination based upon investigation findings.
• Under minimal supervision, makes timely decisions and takes appropriate action to prevent fraud losses involving high-risk transactions.
• Organizes investigative findings and prepares documentation for use by law enforcement and prosecutors.
• Assists with updating policies and procedures related to Fraud Prevention and Financial Crimes.

Education and Experience:

• Applicants must have the ability to respond to a fraud event after-hours, weekends, and holidays, as needed.
Level I:
• High school diploma or general education degree (GED).
• Completion of some college courses in any of the following disciplines: Mathematics, Computer Science, Criminal Justice, Engineering, Economics, Business, Finance, Statistics, or a related field is preferred.
• If the education preference is not met, at least one year of fraud investigation experience in a bank/credit union or related experience.
Level II:
• Associates degree or equivalent in any of the following disciplines: Mathematics, Computer Science, Criminal Justice, Engineering, Economics, Business, Finance, Statistics, or a related field is preferred.
• Three years of fraud investigation experience in a bank/credit union.
Level III:
• Bachelor’s degree in any of the following disciplines: Mathematics, Computer Science, Engineering, Economics, Business, Finance, Statistics, or another related field is preferred.
• Five years of advanced experience in bank/credit union fraud or financial crimes investigation experience.
• Financial Crimes Specialist certification preferred.

Other Skills and Abilities:

• Excellent oral and written communication skills
• Processes work with attention to timeliness, productivity, and quality. Completes tasks and duties on time or by deadline.
• Proficiency in Microsoft Office Suite and use of the Internet and imaging systems
• Ability to work collaboratively across multifunctional teams
• Ability to manage multiple deadlines in a fast-paced and changing environment
• Excellent organization skills

Our Generous Benefit Package Includes:

• Salary: $60,000 - $101,875 (based on Level and experience)
NASA Federal Credit Union offers an array of benefits including comprehensive healthcare, 401(k), paid leave, remote work options for applicable positions, and more.
+Insurance coverage begins the 1st day of the month, following 30 days after hire date.

*100% Credit Union-Paid

Full-Time Employee Benefits

• Health Insurance (Choice of two nationwide PPO plans)
• High-Deductible Plan: 100% employer contribution toward premium. (HSA and FSA compatible)+*
• Low-Deductible Plan: Generous employer contribution toward premium. (FSA compatible)+
• Dental Insurance: Generous employer contribution toward premium (HSA and FSA compatible)+
• Vision Insurance: Generous employer contribution toward premium (HSA and FSA compatible)+
• Long-term Disability Insurance+*
• Flexible Spending Medical Account (FSA)+
• Flexible Spending Dependent Care Account+
• Health Savings Account (HSA)+
• Voluntary Supplemental Employee and Dependent Life Insurance+
• Voluntary Short-term Disability Insurance+
• Voluntary Long-term Care Insurance+
• Remote or Remote / Hybrid work options based on position
• 401(k) with employer match up to 6% and immediate 100% vesting
• Gain Sharing Bonus (eligibility rules apply)*
• Life Insurance/AD&D+*
• Vacation Leave (excluding Outside Loan Officers)
• Sick and Safe Leave
• 11 Paid Holidays
• Education Assistance
• Employee Referral Bonus*
• Credit Union Membership Eligible
• Employee Assistance Program+*
• Identity Theft Protection (Additional premiums to add family members)+*
• Pet Insurance
• Employee Discount Program
• Remote or Remote / Hybrid work options based on position
All benefits are based on meeting NASA Federal Credit Union’s eligibility requirements and the carrier’s terms and conditions.