Fraud Analyst

About MCU:

At Municipal Credit Union , we believe that an incredible culture helps create a happy and motivated team that works hard to achieve the best results for themselves and their members. For more than 100 years, MCU has provided affordable financial products and convenient services to a membership base that is now comprised of over 600,000 individuals. With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people.

Our Mission:

To help hard-working New Yorkers build better tomorrows

Our Vision:

Be New York's most loved financial institution by helping our members build their best financial futures

Overview: The Fraud Analyst is responsible for continuously working towards preventing and mitigating losses to ensure the highest level of loss avoidance and reduction.Act independently with great latitude and is a primary liaison for the department with other channels/departments relating to internal needs/assistance. Work with the VP, Financial Crimes & Intelligence and Risk Management Team to improve investigations, analyses and identify control and procedural issues.

Responsibilities :

Specific duties include, but are not limited to, the following:

Investigation and Analysis:

- Assess and analyze fraud alerts generated by MCU fraud detection systems, or flagged by internal/external sources, determining the validity of alert based on data, transaction patterns and risk indicators with primary focus on civil and criminal violations of law relating to financial crimes that include, but are not limited to;: Bank Fraud, Check Fraud, Counterfeits, Alterations, Forged Endorsement, Forged Maker, Kitting, New Account Fraud, Loan Fraud, Identity Theft, Returned Deposited Items, ACH Fraud, Wire Fraud, ATM Fraud, ATM Skimming, Jackpotting, Unjust Enrichments, and Other Losses

- Evaluate the risk associated with the individual cases and determine appropriate actions such as clearing, escalating, or freezing accounts

- Perform Request for Information (RFI) with branch personnel regarding alerts that may require additional information

- Perform investigative practices to include but are not limited to; complying with regulatory requirements, compiling documentation and evidence, and developing initial investigative reports in the case management system for further investigation by the appropriate fraud investigator(s)

- Ensure accurate case notes and through documentation to support alert decisioning

Compliance and Reporting:

- Ensure compliance with regulations including BSA/AML and Regulation CC

- Ensure quality, uniformity and compliance with regulations throughout the MCU footprint and adhere to standard operating procedures for Financial Crimes & Intelligence

Fraud Prevention and Strategy:

- Identify new and emerging fraud trends and patterns and report findings to the Fraud Mitigation Manager

- Research, evaluate and identify control deficiencies/violations that contribute to fraud, and make recommendations to Fraud Mitigation Manager to enhance controls

- Proactively seek to improve operational efficiencies to reduce production hours and mitigate losses

- Work collaboratively with other departments to recommend solutions that impact performance, risk, losses and threats to the organization

Audits and Examinations:

- Ensure appropriate documentation is maintained and available for internal/external audits and legal requests for all work performed

Training:

- Complete annual BSA/AML, Fraud, and Cyber training requirements

- Maintain up to date knowledge of fraud risks, regulatory changes, and industry best practices

Leadership and Team Support:

- Provides support, guidance, and training to Investigative Support Specialist

Financial Crimes & Intelligence Operations Support:

- Perform other related duties as requested and special projects as assigned

Requirements :

- Bachelor or Associate degree in Criminal Justice, Bus