Fraud Investigation Officer investigates fraudulent/illegal activities perpetrated by customers or employees. Designs and implements programs to prevent such activities and to recover any incurred losses. Being a Fraud Investigation Officer works with local, state and federal authorities with matters relating to fraudulent/illegal activities. Require a bachelor's degree. Additionally, Fraud Investigation Officer typically reports to a manager. To be a Fraud Investigation Officer typically requires 4 to 7 years of related experience. Contributes to moderately complex aspects of a project. Work is generally independent and collaborative in nature. (Copyright 2024 Salary.com)
The primary responsibility of this position is mitigating fraud risk to the Credit Union and its members by identifying, investigating, and remediating fraudulent activity occurring in member accounts. This includes, but is not limited to, daily alert and report reviews as well as answering inbound telephone calls from both members and internal departments. This position will require a broad knowledge of fraud methodologies and trends across all Credit Union transaction channels, including ATM/debit cards, online banking, branch banking, ACH, wires, electronic funds transfers and payments. This position is responsible for the investigation of fraudulent, illegal, or improper activities by internal or external means, and the prevention and recovery of losses incurred by such activities. This position researches, analyzes, and generates accurate and meaningful information to assist in performing fraud investigation and loss prevention functions to detect, identify, prevent, and protect the Credit Union from financial crimes and fraudulent activities.
Fraud Analysis:
Reviews and investigates alerts on credit union fraud detection systems and takes appropriate action to prevent or mitigate losses to the credit union, refer to third parties, complete investigative reports of suspicious activity and ensure continued monitoring.
Reviews, researches, and analyzes account activity including, but not limited to new accounts, new loans, ATM transactions, wire and ACH transfers, branch transactions, online banking transactions and credit card and debit card activity to assess levels of risk and detect fraudulent activity.
Assesses credit union policies, procedures and practices related to internal controls and makes recommendations to update and enhance policies, procedures and practices as needed.
Assists the Fraud Manager in identifying fraud trends, creating mitigation strategies, and recommending fraud detection strategy changes.
Case Management:
Investigates and maintains case documentation for all account reviews.
Provides case resolution recommendations based on fraud trends and transaction analysis.
Interviews victims, witnesses, merchants, other financial institutions, employees, or suspects to establish and document details of the fraud incident.
Acts as a liaison with law enforcement (federal, state, and local) and social service agencies by providing detailed information, attend court hearings as needed and pursue prosecution/restitution as appropriate.
Reporting:
Investigate and prepare a detailed transactional and financial analysis summarizing fraudulent activity, gather documentation and log all suspected fraud events. Identify and document solutions to mitigate further potential fraud exposure at the conclusion of the investigation of each fraud event.
Provides guidance to management and employees to ensure appropriate actions are taken to mitigate losses and loss exposure.
Education/Certification:
Required Knowledge:
Required Experience:
Skills/Abilities:
Palmetto Citizens is an Affirmative Action and Equal Opportunity Employer. Minority/Female/Disabled/Veteran
Clear All
0 Fraud Investigation Officer jobs found in Columbia, SC area