Job Description

Fraud Analyst

Hybrid • Lancaster Operations - Lancaster, OH 43130

Overview

Salary Range $43,140.00 - $73,730.00 Salary Position Type Full Time Category QA - Quality Control

Description

The Fraud Analyst is responsible for monitoring, investigating, and responding to potentially fraudulent activity to help protect customers and the bank from financial loss. This position utilizes fraud detection systems to identify suspicious activity, conduct investigations, document findings, coordinate recovery efforts, and support fraud prevention initiatives across multiple banking channels. The Fraud Analyst also supports the bank's BSA/AML compliance program through suspicious activity monitoring, regulatory reporting, and other assigned responsibilities while collaborating with internal departments and external partners to mitigate risk and strengthen fraud prevention efforts.

• Monitor and review fraud detection alerts generated through Verafin and other monitoring systems, investigate potentially suspicious activity, and determine appropriate actions in accordance with established policies and procedures.
• Create, investigate, and maintain fraud cases within Verafin, ensuring thorough documentation, timely resolution, and appropriate escalation of significant or unusual activity.
• Investigate suspicious activity, maintain comprehensive case documentation, and prepare and file Suspicious Activity Reports (SARs) in accordance with established procedures and applicable regulatory requirements.
• Conduct fraud investigations across banking channels, including deposit accounts, debit cards, ACH transactions, wire transfers, loans, and branch operations, documenting findings and coordinating appropriate responses.
• Maintain accurate records of fraud incidents, investigations, and financial losses using established tracking systems, including 360 and other reporting tools, to support management reporting, trend analysis, and risk mitigation efforts.
• Coordinate fraud recovery efforts with Deposit Operations, other internal departments, financial institutions, and external partners to mitigate financial losses and support appropriate resolution of fraudulent activity.
• Deliver fraud awareness education and training for employees and, as appropriate, business customers and other external audiences to strengthen fraud prevention and recognition.
• Analyze fraud activity, identify emerging trends and vulnerabilities, and recommend improvements to fraud detection, prevention, and internal controls.
• Support BSA/AML compliance activities, including suspicious activity monitoring, investigations, customer due diligence (CDD), enhanced due diligence (EDD), OFAC screening, and currency transaction reporting (CTR), as assigned and consistent with training and established procedures.
• Develop and maintain working knowledge of applicable fraud prevention practices, BSA/AML requirements, regulatory guidance, and bank policies to support effective investigations and compliance activities.

Support departmental goals by working collaboratively with team members and performing additional duties as assigned

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