Join Redwood Credit Union as an Account Fraud Specialist I, where you will play a critical role in safeguarding our members and assets from fraudulent activities. Your expertise will be crucial in identifying, preventing, and mitigating fraud risks. You will respond to inquiries from members, branch staff, and back-office teams, assessing content, measuring risk, and escalating priority issues to the Account Fraud Assistant Manager.
Key Responsibilities
Department Operations:
• Analyze daily Mobile Deposit Capture reports (MDC Fraudboard) to detect potentially fraudulent transactions, implementing account restrictions as necessary.
• Examine daily reports in Verafin identifying New Account Fraud, Wire Fraud, MDC Fraud, ATM Fraud, and Online Banking Account Takeover. Communicate with members regarding any identified fraudulent activities.
• Monitor changes in high-risk member contact information to prevent account takeovers, securing accounts as needed.
• Assess daily reports for potential External Transfer Fraud linked to Online Banking Account Takeover through Jwaala Manager.
• Investigate HELOC draft reports for anomalies indicating compromised accounts.
• Scrutinize high-risk wires utilizing fraud monitoring software, reviewing call recordings to pinpoint red flags, and conduct follow-ups with members.
• Oversee the New Account Opening Report (PPS) to assist branches in addressing identity theft and fraud concerns.
• Collaborate with branches during the new account opening process to mitigate risks associated with high-risk prospective members.
• Review monthly fraud statistics to ensure the timely filing of Suspicious Activity Reports (SAR), adhering to BSA requirements and regulatory deadlines.
• Investigate escalated alerts or notifications from both internal and external channels, ensuring appropriate account restrictions and member communication.
• Analyze member and transaction data to uncover potential fraudulent behaviors, documenting patterns and activities accordingly.
• Act as a consultant for branches and departments on fraud-related activities, liaising with law enforcement and other financial institutions as required.
• Work closely with law enforcement to file fraud reports, providing timely evidence to support prosecution efforts.
• Stay informed on the latest fraud and AML-related regulations and trends, recommending improvements to business processes when necessary.
• Deliver exceptional service to all members, volunteers, internal employees, and service providers.