Fraud Prevention and Risk Investigations - Investigator I
Sacramento, CA, USA Req #5658
Tuesday, October 1, 2024
TITLE: INVESTIGATOR I
STATUS: NON-EXEMPT
REPORTS TO: FRAUD PREVENTION AND RISK INVESTIGATIONS MANAGER
DEPARTMENT: FRAUD PREVENTION AND RISK INVESTIGATIONS
JOB CODE: 11451
PAY SCALE: $29.43 - $31.00 HOURLY
GENERAL DESCRIPTION:
The Investigator I is responsible for detecting, reviewing, preventing, and reporting suspicious activity to help mitigate member and Credit Union losses through case investigations. The Investigator I will review real time payments and deposit activity to detect and prevent fraudulent transactions. This position will provide support and guidance for all suspicious or fraudulent activity for the Credit Union.
TASKS, DUTIES, FUNCTIONS:
- Responsible for the operation of and processes related to fraud monitoring products and tools. Create and maintain a positive and informative member experience when verifying or taking a report of fraud.
- Utilizes manual and automated processes to detect, verify and contact members related to potentially suspicious transactions and/or activity with a sense of urgency in a fast-paced environment.
- Support the department mission by conducting investigations, analysis and responding to fraud cases, identifying points of compromise and potential loss to the credit union. Facilitate reporting, when necessary, while ensuring a positive member experience. Every phase of the review process must be closely documented based on established guidelines and/or procedures.
- Review and resolve deposit fraud and account fraud case types within department expectations.
- Investigate and respond to check fraud claims as received by members and/or other financial institutions.
- Maintains a thorough understanding of state and federal laws and regulations related to credit union compliance including OFAC Sanctions, Executive Orders, FACTA, Reg. CC, Reg. E, UCC, Check 21, Bank Secrecy Act, Anti-Money Laundering laws, Visa and other card related regulations appropriate to the position.
- Comply with all established internal audit, security and credit union rules, regulations and departmental procedures. Maintain knowledge by keeping updated with required regulations or procedures through emails, publications, online resources, and procedure changes.
- Review cases assigned for closure to ensure Verafin case has proper coding and all steps are taken prior to closing account in DSUI.
- Answer department phone calls and internal communications in a timely and professional manner.
- Assist with, respond to and/or resolve member/branch issues related to fraud.
- Identify, investigate, and document reports of unusual or suspicious member activity which would be in violation of BSA reporting requirements and report/assign to the appropriate team member(s).
- Utilize BSA reporting template to provide detailed report and supporting documentation to be sent to BSA department for potential SAR review and filing.
- BSA narrative to be written and submitted for audit by an Investigator II or above.
- Follow current fraud trends and gather information via industry events, forums, and publications. Work with other financial institutions, law enforcement, and processors to identify and mitigate fraud in the industry with the goal of reducing losses to the credit union.
- Maintain confidentiality of documentation and communications to and from members, other institutions, law enforcement, and vendors.
- Identify and report elder and dependent abuse concerns to leadership for potential timely mandate reporting.
- Takes the necessary steps to prevent losses or further compromises by changing or updating the status of vulnerable cards/accounts and placing holds to mitigate losses.
- Maintain clear and accurate documentation of investigations for use in SAR or Law Enforcement reporting.
- Research, investigate, and disposition FRAML case assignments, accurately and within specified timeframes.
- Understand CTR filing requirements and be able to answer basic questions.
- Assists with the training of new staff and acts as a resource for all team members regarding a variety of loss prevention and fraud scenarios.
- Assists in development and facilitation of fraud prevention and awareness for all branch and HQ staff as applicable.
- Maintain accurate tracking of work performed, which will be used in department performance measurements.
- Prepare police reports for all losses over the established thresholds or established behaviors outlined in department procedures. Work with law enforcement as required, providing updates or additional information as needed.
- Responds to law enforcement agencies and financial institutions requesting documentation and/or images to support investigations involving credit union losses. Perform other duties as assigned.
- Perform other duties as assigned.
PHYSICAL SKILLS, ABILITIES, AND EXERTION UTILIZED IN THE PERFORMANCE OF THESE TASK:
- Effective oral and written communication skills required to assist other staff, constructively follow-up on member inquiries, communicate clearly with management, and perform other related tasks.
- Must possess sufficient manual dexterity to skillfully operate an on-line computer terminal and other standard office equipment, such as financial calculators, personal computer, facsimile machine and telephone.
ORGANIZATIONAL CONTACTS & RELATIONSHIPS:
- INTERNAL: All business units and departments as needed.
- EXTERNAL: Federal, state, and local law enforcement, vendors and business partners, and industry peers as needed.
QUALIFICATIONS:
- EDUCATION: Associates degree or combination of experience and education.
- EXPERIENCE : 3-4 years of financial institution or law enforcement experience and Fraud, AML, or card fraud experience.
- KNOWLEDGE / SKILLS:
- Effective oral and written communication skills with the ability to effectively communicate with internal and external contacts.
- Knowledge of Credit Union products, services, policies & procedures.
- Operating knowledge of Visa regulations, AML/BSA, OFAC and Federal/State Regulations.
- Good organizational skills, including the ability to prioritize daily activities and multi-task to complete assignments.
- Strong attention to detail in working and investigating files with emphasis on deadlines.
- Basic Excel skills
- Knowledge to operate facsimile machine, ten key, microfiche, electronic banking equipment, basic PC knowledge of Windows environment, and office filing logic.
- Must be self-motivated and capable of exercising sound judgement, working both independently as well as in a team environment
- Possess general knowledge of Fraud/AML (FRAML), loan and card fraud activities and demonstrates the ability to perform general department tasks.
PHYSICAL REQUIREMENTS:
- Prolonged sitting throughout the workday with occasional mobility required.
- Corrected vision within the normal range.
- Hearing within normal range. A device to enhance hearing will be provided if needed.
- Occasional movements throughout the department daily to interact with staff, accomplish tasks, etc.
LICENSES / CERTIFICATIONS:
One of the following certifications or equivalent desired: Professional Certified Investigator (PCI), Certified Fraud Investigator (CFI), Certified Financial Crimes Investigator (CFCI), Certified Credit Union Compliance Expert (CUCE), Certified Fraud Examiner (CFE), Bank Secrecy Act Compliance Specialist (BSACS) as well as, or Certified Anti-Money Laundering Specialist (CAMS). A CA POST certificate (Intermediate or Advanced) may serve as an equivalent of this certification requirement.
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