Fraud and BSA Support Specialist

Open Locations

Description

The Fraud/Bank Secrecy Act (BSA) Support Specialist will provide support and assistance to all departments throughout the credit union regarding fraud/BSA transactions and monitoring. In addition, this position will act as a backup for the BSA function if the Senior BSA Officer is unavailable.

Duties and Responsibilities

Other duties may be assigned.

• Assumes responsibility for the effective and timely performance of assigned functions.
  • Assists and independently monitors, reviews, and documents fraud pertaining to member accounts, internal fraud, check fraud, debit fraud, identity theft, account takeover, and/or any other current fraud trends within our Verafin fraud software.
  • Responsible for tracking dollar amounts associated with fraud for illustrative purposes, including losses and the potential amounts recovered through fraud prevention techniques.
  • Coordinates with the Fraud Risk Analyst with tracking fraud trends and patterns through various methods including spreadsheets, reporting, and other available tools.
  • Responsible for the review of daily reports from our core that monitor system-generated data that monitors for internal fraud. Make recommendations and suggestions regarding internal controls that may require improvement based on the evaluation of the reports.
  • Interviews possible fraudsters and asks probing questions to determine whether a given situation is true fraud. Document such interactions and may take place funds on hold during an investigation or take precautions to recoup funds if fraud is confirmed.
  • Assist various departments in verifying fraud and conducting research in order to make the appropriate decisions on check holds or other transactions that could be fraudulent.
  • Facilitates all cases of reported identity theft for the credit union. This includes working with the victims, assisting departments with ID theft procedures, documenting all ID theft cases, and filing SARs.
  • Acts as a central point of contact for the reporting of all elder abuse cases for the credit union. This will require calling and reporting all elder abuse cases to Adult Protective Services (APS), notating the account, creating a formal case in Verafin, placing holds on funds when necessary to avoid losses, calling victims to assist them when necessary, and file SARs on all reported cases to APS.
  • Supports the Senior BSA Officer with reporting responsibilities, including filing CTR Reports, clearing OFAC alerts, monitoring the Negotiable Instrument Log, handling 314(a) reports, responding to 314(b) inquiries, and managing assigned BSA alerts in Verafin.
  • Tracks, monitors, and mails all accounts closure letters related to fraud or BSA cases.
  • Assists with other duties as assigned.
• Assumes responsibility for establishing and maintaining professional business relations with members, other financial institutions, external professionals, and merchants.
  • Communicates with internal staff and external members to ensure the appropriate information is available to all parties, and that instances of fraud are being handled in a consistent manner, as outlined by procedures.
  • Provides guidance to members regarding their rights as a fraud victim and their options for coordinating with law enforcement to protect their personal information.
  • Provides clear and informative support and solutions to all departments regarding any fraud situations that arise.
• Assumes responsibility for establishing and maintaining effective coordination and working relations with Company personnel and with management.
  • Provides support for multiple departments regarding ongoing fraud investigations and/or research. Serves as a central contact regarding fraud activity and determines any fraud trends within the credit union.
  • Escalates activity to the appropriate department to ensure a timely resolution. Examples may include escalating high-risk fraud alerts to the Fraud Analyst, high-risk suspicious activity to the Senior BSA Officer, debit card fraud to Operations Support, or any accounts resulting in a loss to Collections. This also applies to any alerts within the Verafin fraud software which may need to be escalated or handled by another department.
• Assumes responsibility for ongoing learning and maintaining continuing education regarding the field of Fraud and BSA.
  • Participates in ongoing training to stay updated on current fraud trends and applies this knowledge across all aspects of the job.

Knowledge and Experience

• Education/Certification
  • High school graduate or equivalent.
• Required Knowledge
  • Knowledge of basic red flag rules, general BSA regulations, and fraud related functions preferred.
• Experience Required
  • One to two years of related experience preferred.
• Skills/Abilities
  • Excellent communication and public relations skills.
  • Ability to analyze accounts.
  • Attentive to detail.
  • Well organized.
  • Good research skills.
  • Ability to assist others.
  • Able to use 10-key, PC, telephone, and all related business equipment.
  • Demonstrates aptitude to utilize computer systems, adhere to bank policies and procedures, and ensure compliance with applicable bank regulations.
  • Ability to define problems, collect data, establish facts, and draw valid conclusions.
  • Ability to deal with problems involving several concrete variables in standardized situations.
  • Ability to calculate figures and amounts such as interest, percentages, rate, and ratios.
  • Ability to read, analyze and interpret instructions, procedures, and regulations.
  • Familiar with the differences in products and services offered by other financial institutions to those offered by the credit union.