Fraud Analyst I

Overview

Working at Arkansas Federal Credit Union

GENERAL DESCRIPTION OF POSITION

The primary function of this position is to assist with developing and maintaining best practices to guard against and reduce financial fraud losses and crimes against Arkansas Federal, its members and employees. This includes stopping losses when possible and reducing losses when unavoidable by processing account transaction disputes submitted by accountholders.

ESSENTIAL DUTIES AND RESPONSIBILITIES

1. Perform member dispute workflow including receipt, notification, documentation, investigation, and communication of outcome. This includes but is not limited to the following dispute types: ACH, ATM deposit, Debit Card, Credit Card and Check.2. Assist members directly or through frontline team members.3. Coach team members throughout the Credit Union on account transaction fraud. This is to include but is not limited to Debit Card, Credit Card, Check, ATM, ACH, identity theft and current scam trends.4. Work with Vendors for outsourced investigations and assist team members to communicate status or outcome of investigations.5. Work with fraud monitoring services to manage effective strategies and mitigate risk. This includes but is not limited to online banking flagged transfers, Verafin alerts, Advanced Fraud Systems, BI ACH Suspect Deposits, Sentry Alerts and CAMS alerts.6. Submit documentation to MasterCard for merchant disputes and outsourced fraud investigations.7. Issue member credits at appropriate time intervals based on regulatory requirements.8. Submit claim documentation to CUNA for Debit/Credit Fraud insurance.9. Perform the day to day process of the Red Flag Program. This includes but is not limited to working related reports, processing notifications of information compromise, reviewing Meridian Link account and loan fraud queues and making action recommendations as needed.10. Processing return deposit items. This includes but is not limited to placing holds on accounts pending debit from EFT, logging items, identifying trends, mailing out substitute checks, calling depositors, daily notifying branches of returned items and placing restriction on depositor accounts due to high risk behavior.11. Collaborate with EFT daily by reviewing checks accepted through mobile banking or ATM to ensure they are placed on hold or rejected as deemed necessary.12. Have good working knowledge of Reg E, UCC check return guidelines, Reg CC Holds and the Red Flag program.13. Manage General Ledger Accounts to ensure that balances due to written off are addressed within the appropriate timeframe.14. Manage Non-Fraud Credit for Merchant Disputes.15. Review compromised cards to ensure that vendors and team members have correctly blocked to avoid additional losses.16. Work with other Financial Institutions to complete investigations.17. Work with local law enforcement as necessary.18. Use Online banking back-office functions. Review and research large remote transfer requests to lessen fraud and losses. Remove members from online banking when deems an appropriate action due to member's behavior or risk to member. Requires contacting members for verification of bill pay requests when fraud alerts are received from vendor19. Review transactions in Compass/Zelle unblock members that failed IDV while trying to conduct a transfer through Zelle.20. Receive information on deposit items that are returned to AFCU unpaid through the Federal Reserve System. Place holds on funds to prevent additional losses before the checks are processed. Add warnings and/or informational notes to memberships that are exhibiting high risk transaction behavior. Email out information on the current day's RDIs to Service Centers. Request member's removal from AFCU Mobile Deposit when appropriate.21. Track and log all information related to the return deposit items for the purpose of reducing overall losses, spotting trends and reporting information to leadership.22. Perform any other related duties as required or assigned.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty mentioned satisfactorily.  The requirements listed below are representative of the knowledge, skill, and/or ability required.

Basic: Alphanumeric Data Entry, Contact Management, Spreadsheet, Word Processing/Typing• Good verbal and written communication skills.• Good time management skills.• Good analytical and problem-solving skills.• Ability to function well in a high-paced and at times stressful environment

EDUCATION AND EXPERIENCE

• High school diploma or GED

• 2 years of financial institution experience or equivalent

PHYSICAL REQUIREMENTS

• While performing the duties of this job, the employee is occasionally required to stand and walk. The employee must occasionally lift and/or move up to 20 pounds.

EEO Statement

Arkansas Federal Credit Union is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, gender, gender identity, sexual orientation, age, status as a protected veteran, among other things, or status as a qualified individual with disability.