Payment Systems Fraud Specialist

First Northern Credit Union•Chicago, IL

About The Position

Fraud Specialist First Northern Credit Union, is a $300 million+, 22,000-member credit union. We're looking for a dynamic individual with Fraud experience, and high energy to join our team! Manage our 24/7 fraud monitoring services . You will need to ensure that alerts pertaining to suspicious fraud are monitored during weekends and date(s) we are closed when they are most likely to occur Review daily monitoring reports and alerts for suspicious (improper, unusual or irregular) activity and identify the activity that indicates evidence of fraud and fraud risk Investigate patterns of potential fraud and act swiftly to mitigate potential loss Disseminate information regarding current frauds or scams to appropriate staff Perform transactional analysis Work collaboratively with Internal Audit, as well as other departments regarding operating controls and fraud resolution Assist in the preparation of internal reports of investigations, identify procedural and control weaknesses and make recommendations to prevent future losses Assist Investigators in the research and resolution of fraud examination Act as an internal fraud consultant to various departments Process Fraud and Chargeback transactions with Processors and maintain detailed reports Other duties and assignments as required by management Must adhere to pertinent laws, regulations and external compliance requirements. Track fraud alerts received from various sources Manage compromise alerts determining when reissues and card closures are required Responsible for Payment Systems phone queue during downtime Successful candidates: Be a Subject Matter Expert in specific or general areas of Fraud . A working knowledge of applicable banking regulations such as the Bank Secrecy Act, FACT Act Red Flags Reg E. Knowledge of credit union operational procedures relating to processing and manipulation of transactions with knowledge related to how fraud is perpetrated. Knowledge of Reg E Dispute Resolution Knowledge of Visa Chargeback Rules and Fraud processes Knowledge of NACHA Unauthorized ACH Rules Knowledge of techniques used to commit fraud as identified through detailed transactional analysis Ability to detect potential or actual fraudulent transactions through analysis of large volumes of transactional data Maintain understanding of all types of fraud, fraud trends and best practices for fraud prevention and detection Could effectively motivate and influence others Have excellent verbal and written communication skills Possess a strong ability to work independently, with little supervision Are professionals in conduct and communication Could address stressful situations with courtesy and tact Have friendly, outgoing personalities Have a consistent employment record FNCU provides employees with a professional yet comfortable work environment, competitive compensation, and paid time off. Full-time employees are eligible for a comprehensive employee benefits package. Paid Holidays Paid Time Off Health, Dental, and Vision Insurance Employer paid Life Insurance, Short-Term and Long-Term Disability Annual employer discretionary 401K contribution 401K Retirement Plan, with employer matching Annual discretionary bonus Company events/quarterly luncheons Pay commensurate with relevant experience. EQUAL EMPLOYMENT OPPORTUNITY EMPLOYER Job Type: Full-time Experience: Minimum two years of experience in a fraud/loss prevention type function/like experience or a combination of three years of experience within various related roles (Branch, fraud, security or other back-office functions)

Requirements

Be a Subject Matter Expert in specific or general areas of Fraud
A working knowledge of applicable banking regulations such as the Bank Secrecy Act, FACT Act Red Flags Reg E
Knowledge of credit union operational procedures relating to processing and manipulation of transactions with knowledge related to how fraud is perpetrated
Knowledge of Reg E Dispute Resolution
Knowledge of Visa Chargeback Rules and Fraud processes
Knowledge of NACHA Unauthorized ACH Rules
Knowledge of techniques used to commit fraud as identified through detailed transactional analysis
Ability to detect potential or actual fraudulent transactions through analysis of large volumes of transactional data
Maintain understanding of all types of fraud, fraud trends and best practices for fraud prevention and detection
Could effectively motivate and influence others
Have excellent verbal and written communication skills
Possess a strong ability to work independently, with little supervision
Are professionals in conduct and communication
Could address stressful situations with courtesy and tact
Have friendly, outgoing personalities
Have a consistent employment record
Minimum two years of experience in a fraud/loss prevention type function/like experience or a combination of three years of experience within various related roles (Branch, fraud, security or other back-office functions)
Associate (Required)
United States (Required)

Responsibilities

Manage our 24/7 fraud monitoring services
Ensure that alerts pertaining to suspicious fraud are monitored during weekends and date(s) we are closed when they are most likely to occur
Review daily monitoring reports and alerts for suspicious (improper, unusual or irregular) activity and identify the activity that indicates evidence of fraud and fraud risk
Investigate patterns of potential fraud and act swiftly to mitigate potential loss
Disseminate information regarding current frauds or scams to appropriate staff
Perform transactional analysis
Work collaboratively with Internal Audit, as well as other departments regarding operating controls and fraud resolution
Assist in the preparation of internal reports of investigations, identify procedural and control weaknesses and make recommendations to prevent future losses
Assist Investigators in the research and resolution of fraud examination
Act as an internal fraud consultant to various departments
Process Fraud and Chargeback transactions with Processors and maintain detailed reports
Adhere to pertinent laws, regulations and external compliance requirements
Track fraud alerts received from various sources
Manage compromise alerts determining when reissues and card closures are required
Responsible for Payment Systems phone queue during downtime