Purpose: The Fraud Analyst I is tasked with conducting account reviews based on specific triggers to identify and prevent fraudulent transactions. This role also involves taking swift action to freeze funds or restrict accounts to protect the Bank and its customers from potential losses. The Fraud Analyst will utilize Q2 Sentinel software daily as their primary transaction monitoring system.
Essential Functions:
- Reviews transaction monitoring alerts for fraudulent or unusual activity primarily using Q2 Sentinel as well as other transaction monitoring systems, recommending whether alerts should be escalated to case or cleared. Direct customer outreach is required for numerous alerts.
- Monitors daily reports across multiple systems, that may include mobile check deposits, loan checks, ATM deposits, uncollected funds, employee credits, and digital banking transactions, to identify, halt, and report fraudulent activity across the Bank's channels.
- Investigates escalated alerts and manually created cases (e.g., business unit referrals, negative news, vendor reports, etc.) for fraudulent or suspicious activity. Takes appropriate actions based on findings (e.g., referring suspicious activity to BSA, restricting/closing customer accounts/access, etc.). Direct customer outreach is required for cases.
- Tracks and maintains departmental spreadsheets reflecting reported fraud risk and trend data for Management review.
- Handles incoming phone calls from Branch staff, other business units, and customers related to fraud investigations or potentially fraudulent activities such as elder abuse referrals, identity theft reports, check verifications, and unusual transaction activity.
- Develops into a subject matter expert in the Q2 Sentinel transaction monitoring system. This includes report generation, optimization of scenarios, etc., model validation, and other attributes that enhance the efficiency and effectiveness of the system.
- Demonstrates the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders, incorporating high-performance behaviors of teamwork, leading by example, and service in all aspects of work.
Job Related Qualifications:
Required:
- Education: High School Diploma
- Prior Experience: 3+ years of anti-fraud experience
- Licenses or Accreditation: Any required licenses or accreditation required
Preferred:
- Education: Bachelor’s Degree
- Prior Experience: 3+ years of anti-fraud experience in the financial services industry
- Licenses or Accreditation: Certified Fraud Examiner (CFE), Certified Anti-Money Laundering Fraud Professional (CAFP), or other Anti-Fraud Certifications
Competencies:
- Knowledge of and ability to learn emerging fraud trends and tactics.
- Strong verbal and written communication skills with the ability to convey pertinent information to all levels of staff and customers.
- Strong organizational skills with the ability to manage multiple priorities and meet established deadlines.
- Ability to respond quickly and effectively to issues involving high dollar or high-volume fraudulent transactions, irate customers, robberies, complaints and law enforcement interaction.
- Ability to identify trends, interpret data and apply to workflows.
- Possess a high level of attention to detail.
- Proficient with Microsoft applications with the ability to learn and utilize new and existing banking software applications; ability to utilize the internet to conduct searches related to responsibilities.
- Preferred: Q2 Sentinel Software
Physical Requirements:
- Able to regularly sit for prolonged periods of time.
- Able to regularly stand for prolonged periods of time.
- Able to travel:
- Extensive computer usage is required.
Benefits:
- Medical, Dental, and Vision Insurance
- Health Savings Account
- Flexible Spending Account(s)
- Company Paid Life Insurance, Long Term Disability, and Short Term Disability
- Voluntary Offerings: Life, Critical Illness/Specified Disease, Accident, Hospital Indemnity & Personal Accident
- Tuition Reimbursement
- Employee Referral Program
- Wellness Reimbursement Program
- Star Volunteer Program
- Employee Banking and Financial Perks
- Flexible Hybrid Work Schedule
- Paid Time Off (PTO)
- Company Paid Holidays
This job description is not exhaustive. The Fraud Risk Analyst I may be required to perform other duties as assigned. The expected rate of pay for this position is shown above. Compensation offers are based on a wide range of factors including relevant skills, training, experience, education and, where applicable, licenses or certifications obtained. Market and organizational factors are also considered. In addition to your base rate of pay and a competitive benefits package, successful candidates may be eligible to receive cash or equity-based incentives based on the role and performance.