Fraud Analyst

Role Summary

Our Vision

Be New York's most loved financial institution by helping our members build their best financial futures

Overview: The Fraud Analyst is responsible for continuously working towards preventing and mitigating losses to ensure the highest level of loss avoidance and reduction.Act independently with great latitude and is a primary liaison for the department with other channels/departments relating to internal needs/assistance. Work with the VP, Financial Crimes & Intelligence and Risk Management Team to improve investigations, analyses and identify control and procedural issues.

Audits and Examinations

Ensure appropriate documentation is maintained and available for internal/external audits and legal requests for all work performed

Training

Complete annual BSA/AML, Fraud, and Cyber training requirements

Maintain up to date knowledge of fraud risks, regulatory changes, and industry best practices

Leadership and Team Support

Provides support, guidance, and training to Investigative Support Specialist

Financial Crimes & Intelligence Operations Support

Perform other related duties as requested and special projects as assigned

Responsibilities

Specific duties include, but are not limited to, the following:

Investigation and Analysis

Assess and analyze fraud alerts generated by MCU fraud detection systems, or flagged by internal/external sources, determining the validity of alert based on data, transaction patterns and risk indicators with primary focus on civil and criminal violations of law relating to financial crimes that include, but are not limited to;: Bank Fraud, Check Fraud, Counterfeits, Alterations, Forged Endorsement, Forged Maker, Kitting, New Account Fraud, Loan Fraud, Identity Theft, Returned Deposited Items, ACH Fraud, Wire Fraud, ATM Fraud, ATM Skimming, Jackpotting, Unjust Enrichments, and Other Losses

• Evaluate the risk associated with the individual cases and determine appropriate actions such as clearing, escalating, or freezing accounts
• Perform Request for Information (RFI) with branch personnel regarding alerts that may require additional information
• Perform investigative practices to include but are not limited to; complying with regulatory requirements, compiling documentation and evidence, and developing initial investigative reports in the case management system for further investigation by the appropriate fraud investigator(s)
• Ensure accurate case notes and through documentation to support alert decisioning

Compliance and Reporting

Ensure compliance with regulations including BSA/AML and Regulation CC

Ensure quality, uniformity and compliance with regulations throughout the MCU footprint and adhere to standard operating procedures for Financial Crimes & Intelligence

Why you'll be a good fit

Our Core Values are an integral part of who we are and who we hire. By living our Core Values, every day, we continue to attract the best and brightest talent, achieve unsurpassed results and continuously challenge ourselves to be better than yesterday. These values are at the heart of our organization and within every teammate. To be a great fit, you’ll bring the following

• Results - We are passionate about winning.
• Agility - We proactively anticipate, respond and pivot to ensure MCU wins.
• Integrity - We operate with the highest ethical standards and highest degree of honesty.
• Belonging - We cultivate a culture of inclusion and teamwork.
• Ownership - We take personal responsibility and hold ourselves accountable for the results.

Requirements

• Bachelor or Associate degree in Criminal Justice, Business, or Accounting, related field or work experience required
• Minimum of 3 years of fraud analysis and investigation experience in the financial industry
• Omni- channel experience to include but not limited to ACH, Wire, Check Fraud, Identity Theft, etc.
• Industry recognized certifications, (I.e. - CFE, is a plus but not required)
• Basic knowledge and understanding of Federal/State/Local criminal statutes, bank regulatory, and compliance
• Flexible hours as required
• The ability to maintain confidential information
• Proven initiative to be a self-starter and proactive approach
• Professional appearance demeanor
• Must be able to demonstrate a team mentality
• Ability to perform in a high-volume environment and meet deadlines while maintaining exceptional attention to detail
• Technologically proficient
• Proficiency in Verafin Monitoring/Case Management (preferred)

Benefits

The pay range for this position is between $66,300-75,330 annually. Actual base pay offered may vary depending on a number of factors such as job-related knowledge, skills, experience, and location. Employees in this position may also be eligible for a discretionary bonus, 401(k) with an 6% employer match per pay period. Benefits for this position include Medical, vision, dental, life, and disability insurance, flexible paid time off and 11 paid holidays annually.

Municipal Credit Union (MCU) is an Equal Opportunity Employer. Municipal Credit Union provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by applicable federal, state or local laws.

We are committed to hiring, training, cultivating, promoting, and celebrating an environment where we have a welcoming and fulfilling place for all people to call home. Diversity of race, thought, sexual orientation, age, veteran status, religion, and disability will empower us to thrive as individuals, as teams, and as an organization.

About the Company

About MCU

At Municipal Credit Union , we believe that an incredible culture helps create a happy and motivated team that works hard to achieve the best results for themselves and their members. For more than 100 years, MCU has provided affordable financial products and convenient services to a membership base that is now comprised of over 600,000 individuals. With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people.

To help hard-working New Yorkers build better tomorrows

Additional Information

Fraud Prevention and Strategy

Identify new and emerging fraud trends and patterns and report findings to the Fraud Mitigation Manager

Research, evaluate and identify control deficiencies/violations that contribute to fraud, and make recommendations to Fraud Mitigation Manager to enhance controls

Proactively seek to improve operational efficiencies to reduce production hours and mitigate losses

Work collaboratively with other departments to recommend solutions that impact performance, risk, losses and threats to the organization