Fraud Investigator (Finance)

General Summary (What is done and why)

The Fraud Investigator is responsible for developing and executing proactive approaches for identification and mitigation of fraud and fraud related losses.  Through effective investigations, recovery efforts, and training, the Fraud Investigator helps to ensure Credit Union assets are protected and losses are minimized. The Fraud Investigator assists the Fraud Manager in recommending policy and procedure changes by performing detailed fraud risk studies in order to maintain maximum protection of credit union assets.

Essential Functions, in Priority Order (Majority of duties, but not meant to be all inclusive or prevent other duties from being assigned as necessary)

1. Proactively monitor vendor and internal reports, conducting in-depth investigation of financial transactions deemed to be suspicious.  Time:40%
2. Receive and thoroughly document all reports of alleged fraud.  Perform in-depth investigations; secure evidence and conduct interviews with staff and fraud suspects/victims.  Where appropriate, notify the proper authorities.  Time: 35%
3. Partner with internal business owners and external agencies including attorneys, law enforcement, and prosecutor offices to continually improve fraud detection, investigation, and preventative processes and controls.  Time: 10%
4. Perform root cause analysis of fraudulent activity; identify procedural and control weaknesses.  Develop recommendations to mitigate future losses and prepare monthly reports detailing fraud related losses. Time: 10%
5. Monitor industry news and regulatory changes/developments pertinent to the industry; develop proactive approaches for identification and mitigation of fraudulent activity.  Time: 5%

Education (Minimum education required to perform the duties of this position)

• Associates degree in related field or one year of related work experience required. 

Experience (Minimum experience required to perform the duties of this position)

In addition to the education requirement:

• A minimum of three years financial services experience with a focus on risk management, fraud analysis, detection, and prevention.

Knowledge, Skills and Abilities (Minimum technical and communication skill levels and licenses/certificates normally required to perform the duties of this position)

• Regulatory knowledge and experience with applicable federal and state laws required.
• Articulate and persuasive leader who is able to communicate with a broad range of staff.
• Strong organizational skills
• Excellent verbal, written and platform communication skills. 
• Strong interpersonal, organizational and problem resolution skills
• Excellent time management skills.
• Ability to work in a self-managed team environment
• Ability to develop and implement effective policies and procedures.
• Ability to meet deadlines and changing corporate priorities.

Required Competencies

• Problem Solving
• Dealing with Ambiguity
• Time Management
• Demonstrates Courage
• Drive for Results
• Interpersonal Savvy
• Customer Focus
• Integrity and Trust
• Self-Development
• Business Acumen

Mental Requirements

• Make high level decisions in an ambiguous environment
• Identify business risks and opportunities
• Work under pressure of time deadlines
• Ability to analyze trends, reports and statistics.
• Ability that reflects depth of knowledge, and recognition of business objectives
• Interpret and apply laws that pertain to collection and fraud
• Ability to concentrate in a multi-task environment.
• Ability to understand strategic objectives.
• Ability to maintain a positive attitude and professional image.

Tools and Equipment Used

• All available general office equipment as needed.
• All available computer software and hardware as needed.

Working Relationships/Contacts (Positions with which incumbent has frequent contact)

• Daily, personal/written/phone contact with Credit Union members.
• Daily, personal/written/phone contact with department manager.
• Daily, personal/written/phone contact with Credit Union staff.
• Daily, written/phone contact with attorneys/law enforcement personnel.
• Daily, written/phone contact with vendors.
• Frequent contact with interfacing departments.

Physical Demands (Physical effort generally associated with this position)

Work involves standing and walking for brief periods of time, but most work is done from a seated position. A great deal of time is spent on the telephone. There is potential for eyestrain from reading detailed reports and computer screen. Deadlines, workloads and pressure to achieve goals may cause increased stress levels.

Working Conditions (Typical working conditions associated with this type of work and environmental hazards, if any, that may be encountered in performing the duties of this position)

Internal - Work is normally performed in climate controlled office environment.  Noise level is moderate and includes sounds of normal office equipment (computers, telephones, etc).  No known environmental hazards are encountered in normal performance of duties. Length of day is unpredictable; extended hours may be required.

External - Some travel is required; however, information on environmental conditions is not available.

United Federal Credit Union has served its Members since 1949 by helping them to build a sound financial future. United is based in St. Joseph, MI, with additional branches in Arkansas, Indiana, Michigan, Nevada, North Carolina, Ohio and Pennsylvania. United, as a not-for-profit company, takes its commitment to both Members and the community to heart by improving lives and bettering local neighborhoods through financial tools and resources. The employees who work at United, known as Team United, are rooted in their communities as friends, family, volunteers, and mentors. For more information visit www.UnitedFCU.com. 

EEO/AA Employer/Vet/Disabled