At a Glance
- Tasks: Investigate financial crimes and prevent fraud through detailed analysis and interviews.
- Company: Join a leading financial institution dedicated to integrity and security.
- Benefits: Enjoy competitive salary, comprehensive health insurance, and tuition reimbursement.
- Other info: Dynamic work environment with opportunities for career advancement and professional growth.
- Why this job: Make a real difference by protecting people from financial crime and fraud.
- Qualifications: Bachelor's degree or relevant experience in financial crime investigations required.
The predicted salary is between 63233 - 99908 € per year.
Reports to: Fraud Operations Officer
Functions Supervised: None
Primary Functions:
- Carry out detailed investigations concerning potential losses and/or suspected criminal activity.
- Interview potential victims, suspects, and witnesses involved in financial crimes, often addressing sensitive matters.
- Accurately prepare and document findings based on rules of judicial evidence, ensuring reports are both factual and impartial.
- Refer cases to law enforcement for prosecution and restitution.
- Review cases for accuracy and decide next steps, such as reimbursement, member contact, or government agency follow-up.
- Demonstrate prudent judgment in decision-making and maintain the highest standards of confidentiality.
Duties And Responsibilities:
- Monitor alert queues to help prevent fraudulent activity and reduce losses.
- Conduct investigations into fraud claims related to online transactions, pre-authorized drafts, altered checks, forged endorsements, unauthorized third-party transfers, financial exploitation, identity theft, and additional fraudulent activities.
- Investigate discrepancies, gather all relevant information, and implement effective measures to mitigate and, when feasible, prevent losses related to fraud and identity theft.
- Locate video surveillance and review recorded calls to support investigations.
- Create and maintain complete and accurate case files, including investigative notes and documentation in the case management system.
- Detect, monitor, and analyze fraud patterns and trends.
- Participate in root cause analysis reviews of large loss incidents to help identify process gaps and recommend policy changes.
- Adhere to all regulations and internal policies and procedures in the timely management of complaints, referrals, and reimbursements.
- Report suspicious activity as required by the Bank Secrecy Act.
- Handle high-priority and high-risk cases, such as outgoing wires, recovering funds, consumer complaints, large transactions, and potential Bank Secrecy Act or SDN list violations.
- Work with all law enforcement, protective agencies, and financial institution contacts for fraud related investigations.
- Work in partnership with BSA, Legal, Compliance, Operations, the credit union’s insurer, and other relevant credit union departments.
- Handle incoming and outgoing calls to deliver information about fraud, identity theft, or the Member Identification Program to branches, the Member Service Center, lending departments, and members.
- Ensure compliance with laws, rules, regulations, policies and procedures applicable to assigned departments and related credit union activities.
- Perform other duties as assigned.
Qualifications:
Education: Bachelor's degree in Business Administration, Criminal Justice or related field
Creditable Experience in Lieu of Education: 3-4 years' experience in the area of financial crimes investigations, law enforcement, or related field.
Experience/Skills:
- Excellent interpersonal skills with the ability to build collaborative relationships with various business units.
- Strategic and tactical analysis skills.
- Demonstrates sound discretionary judgment and upholds strict confidentiality.
- Demonstrates strong proficiency in both oral and written communication.
- Capacity to work in a fast-paced and dynamic environment with a drive to deliver outstanding results.
- Thorough familiarity with banking and financial regulations.
- Experienced in conducting complex investigations related to potential losses and/or suspected criminal activity.
- Experience with courtroom testimony and legal protocols.
- Skilled in interview techniques.
- Experienced in leveraging fraud prevention and detection technologies and tools.
- Well-versed in strategies for mitigating and investigating Identity Theft, check, card, ACH, and payment fraud.
- Certified Fraud Examiner (CFE) or equivalent credentials are preferred.
Tenure Assignment to the Fraud Investigator I (Category 10), or Fraud Investigator II (Category 09) position will be determined by the candidate's education or experience. Advancement requires management recommendation and will be based on the candidate's certifications and/or performance.
Compensation:
Starting base salary will be determined based on candidate experience, qualifications, education, and applicable local or state wage requirements, and will fall within the range provided below. In accordance with our Salary Administration policy, new hire base salaries generally fall between the minimum and midpoint of the listed range.
Salary Pay Range: 09 $69,557 - $112,677 annually
Salary Pay Range: 10 $63,233 - $99,908 annually
Benefits:
- Short-term and long-term incentives
- Comprehensive medical, dental and vision insurance plan that has HSA and FSA options
- 401(k) plan with a 5% match
- Employee Assistance Program (EAP)
- Life and disability coverage
- Voluntary cash benefits for accident, hospitalization and critical illness
- Tuition Reimbursement
- Generous leave programs to include Paid Time Off accrual, Paid Sick Leave, Paid Holidays
Equal Opportunity Employer
Fraud Investigator I in Somerset employer: Global Credit Union
As a Fraud Investigator I, you will join a dynamic team dedicated to safeguarding financial integrity in a supportive and collaborative work environment. Our company offers comprehensive benefits, including medical, dental, and vision insurance, along with generous leave programs and tuition reimbursement, ensuring that employees can thrive both personally and professionally. With a strong emphasis on employee growth and development, we provide opportunities for advancement based on performance and certifications, making us an excellent employer for those seeking meaningful and rewarding careers in fraud investigation.
StudySmarter Expert Advice🤫
We think this is how you could land Fraud Investigator I in Somerset
✨Tip Number 1
Network like a pro! Reach out to folks in the industry, attend events, and connect on LinkedIn. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by researching common questions for fraud investigators. Practice your responses and think of examples that showcase your skills in investigations and decision-making. Confidence is key!
✨Tip Number 3
Don’t just apply anywhere; focus on companies that align with your values and career goals. Use our website to find roles that excite you and tailor your approach to each application.
✨Tip Number 4
Follow up after interviews! A quick thank-you email can leave a lasting impression. It shows your enthusiasm for the role and keeps you fresh in their minds as they make decisions.
We think you need these skills to ace Fraud Investigator I in Somerset
Some tips for your application 🫡
Tailor Your Application:Make sure to customise your CV and cover letter for the Fraud Investigator I role. Highlight your relevant experience in financial crimes investigations and any specific skills that match the job description. We want to see how you fit into our team!
Showcase Your Skills:Don’t just list your qualifications; demonstrate them! Use examples from your past experiences to show how you've successfully handled sensitive investigations or collaborated with law enforcement. This will help us see your potential impact at StudySmarter.
Be Clear and Concise:When writing your application, keep it straightforward and to the point. We appreciate clarity, so avoid jargon and ensure your findings are presented in a factual manner. Remember, your application is your first report to us!
Apply Through Our Website:We encourage you to submit your application directly through our website. It’s the best way for us to receive your details and ensures you’re considered for the role. Plus, it’s super easy to do!
How to prepare for a job interview at Global Credit Union
✨Know Your Stuff
Make sure you brush up on your knowledge of financial crimes and fraud investigation techniques. Familiarise yourself with the types of fraud mentioned in the job description, like identity theft and online transaction fraud. This will help you answer questions confidently and show that you're serious about the role.
✨Practice Your Interview Skills
Since you'll be interviewing victims and suspects, it's crucial to demonstrate strong interpersonal skills. Practice answering common interview questions and consider doing mock interviews with a friend. Focus on how you can build rapport and communicate effectively, as these skills are key for this position.
✨Prepare Real-Life Examples
Think of specific instances from your past experience where you've successfully handled investigations or dealt with sensitive situations. Use the STAR method (Situation, Task, Action, Result) to structure your answers. This will help you illustrate your problem-solving abilities and sound judgment during the interview.
✨Show Your Commitment to Confidentiality
Given the sensitive nature of the work, be prepared to discuss how you maintain confidentiality and handle sensitive information. Share examples of how you've upheld privacy standards in previous roles, as this will demonstrate your understanding of the importance of discretion in fraud investigations.
