Senior Security & Fraud Specialist

If you are looking to join a great place to work that is growing, progressive, offers development opportunities, has an awesome team, and outstanding benefits, we want to hear from you. This is a hybrid position based at our main office in Marlborough, MA. Applicants must be able to report to our main office in Marlborough, MA.

Position Summary:

The Senior Fraud & Security Specialist is primarily responsible for protecting the credit union, its members, employees, assets, and operations from fraud, financial crimes, and operational risk. Approximately 80% of this role is dedicated to fraud prevention, fraud investigations, financial crime detection, and risk mitigation , while 20% focuses on supporting the credit union's physical security program .

This position serves as a subject matter expert in fraud prevention, investigations, fraud analytics, and financial crime trends, while ensuring compliance with applicable banking regulations and internal policies. The role partners closely with Retail Branches, Deposit Services, Compliance, Information Security, and Law Enforcement to identify, investigate, and mitigate fraud and security risks.

Essential Functions:

Fraud Prevention & Risk Management (80%)

• Review, research, and investigate daily FRAML alerts generated by the Anti-Money Laundering (AML) monitoring system to detect, prevent, and mitigate fraud and financial crime losses to the credit union and its members.
• Investigate suspicious activity, create and manage fraud cases, thoroughly document findings, and provide the BSA Officer with SAR/No SAR recommendations within regulatory timeframes.
• Lead investigations involving check fraud, ACH fraud, debit card fraud, account takeover, identity theft, elder financial exploitation, wire fraud, and other financial crimes.
• Identify emerging fraud trends, schemes, and typologies and develop proactive strategies to reduce fraud losses and operational risk.
• Analyze fraud data and transaction patterns to recommend enhancements to fraud detection rules, monitoring systems, and internal controls.
• Respond to identity theft incidents and coordinate account recovery efforts while minimizing member impact.
• Perform collection activities related to fraudulent checks, ATM/debit card transactions, and other fraud losses when initial recovery efforts have been unsuccessful.
• Partner with Retail, Deposit Services, Digital Banking, Compliance, and Operations to identify vulnerabilities and strengthen fraud prevention controls.
• Develop, maintain, and enhance fraud prevention policies, procedures, and best practices.
• Serve as the primary liaison with law enforcement, financial institutions, fraud networks, and regulatory agencies regarding fraud investigations.
• Maintain current knowledge of banking regulations, fraud trends, and industry best practices related to fraud prevention, financial crimes, and loss mitigation.
• Develop and deliver employee fraud awareness and financial crime prevention training in partnership with the Learning & Development Department.
• Assist the Compliance Specialist and Sr. BSA/AML Specialist with BSA -related investigations, audit and regulatory matters as needed.

Physical Security (20%)

• Support the credit union's physical security program, including branch security assessments, alarm systems, access control systems, surveillance cameras, and security incident response.
• Coordinate investigations involving robberies, burglaries, workplace violence, suspicious activity, and other physical security incidents.
• Conduct periodic security assessments of branches and corporate facilities and recommend corrective actions to reduce physical security risks.
• Assist in ensuring all branch locations and corporate headquarters comply with the Credit Union's Security Policies and Procedures.
• Maintain and update the Credit Union Security Manual as needed.
• Manage relationships with physical security vendors, including alarm monitoring, video surveillance, and access control providers.
• Coordinate annual security training and assist with business continuity and emergency response planning.
• Administer security video recording and alarm systems.

Other Duties

• Attend departmental, staff, and required training meetings.
• Travel to conferences and professional development events.
• Support the credit union's commitment to community involvement through volunteer activities.
• Provide backup support to Compliance and BSA personnel as needed.
• Perform other duties as assigned.

Qualifications, Experience & Education

• Associate's degree or equivalent work experience.
• Minimum of three (3) years of experience in Fraud Prevention, Fraud Investigations, BSA/AML Compliance, Financial Crimes, or Risk Management within a financial institution.
• Working knowledge of Verafin or similar fraud monitoring and case management systems.
• Strong knowledge of fraud investigations, banking regulations, financial crimes, and fraud mitigation best practices.
• Experience working collaboratively with law enforcement and regulatory agencies is preferred.

Computer & Technical Skills

• Proficient with Microsoft Outlook, Word, Excel, PowerPoint, and other Microsoft Office applications.
• Experience using Verafin and other fraud monitoring, case management, and AML platforms.
• Experience with Zoom, Microsoft Teams, and other collaboration software.

Competencies

Successful candidates demonstrate adaptability, accountability, collaboration, communication, continuous improvement, innovation, customer service, organizational awareness, sound judgment, analytical thinking, and strong investigative skills. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.

Work Environment

Typical office environment with occasional travel to branch locations and periodic exposure to security-related incidents requiring on-site response.

Physical Demands

While performing the duties of this position, the individual is regularly required to sit, stand, walk, use hands and arms, communicate effectively, and occasionally lift up to 15 pounds. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.