Fraud Specialist 1

Job Description

Job Description

Job Summary 

The Fraud Specialist 1 is within the Second Line of Defense (2LOD) and supports the Bank’s Enterprise Risk Management Framework. The Fraud Specialist 1 reports directly to the Enterprise Fraud Manager and Fraud Risk Team Lead. This position is responsible with performing fraud monitoring related to the analysis of the daily internal Checks, Deposits, ACH transactions, Q2 Sentinel, Debit Card Regulation E claims and Zelle Claims. Ensuring that all suspicious activity is reviewed in a timely manner using sound fraud analytical skills and problem solving to mitigate any potential risks. Review and identify any unusual or suspicious activity to determine any potential losses. Verify the transactions with the branches and customers. . Responsible for ensuring that pre-established department standards are achieved and maintained.

The Fraud Specialist 1 is expected to demonstrate good customer service skills, sound fraud analytical skills, problem solving, effective communication skills, consistently displaying confidence, and keeping appraised of recent fraud trends. 

Key Responsibilities 

Checks, Deposit, and ACH Fraud

• Verify all potential Checks, Deposit, and ACH fraud as identified in the Bank’s Fraud Detection Systems.
• Adhere to established policies/procedures to perform review and analysis to mitigate losses.
• Notify Branch Operations on any questionable items to obtain approval.
• Track and retain exception item resolutions.
• Follow Operational procedures for timely returns.
• Track and retain return data for further reference and reporting.
• Verify and resolve potential Insider Account fraud suspect items (e.g., employees, shareholders, etc.) through the Bank’s Fraud Detection System.

Real Time ACH and External Transfers Fraud

• Verify all potential ACH and External Transfer fraud as identified in the Bank’s Fraud Detection System.
• Notify Branch Operations on any questionable items to obtain approval.
• Track and retain exception item resolutions. 
• Track and retain cancellations for further reference and reporting

Zelle Transactions

• Open Fraud Claims as soon as the fraud is confirmed.
• Review all Fraud/Dispute activity reported for possible chargeback rights and recovery.
• Responsible for working fraud/dispute claims in a timely manner to ensure compliance with Regulation E. 
• Maintain proper follow up on any investigative leads on any Fraud case. 
• Maintain a Regulation E Tracking Log of all Fraud/Dispute claims. 

Debit Card Fraud/Disputes

• Responsible for providing provisional/final credit on the fraud/dispute claims reported to the Bank’s Debit Card Processing Vendor in a timely manner to ensure compliance with Regulation E.
• Maintain all Fraud Logs up to date for management and accounting purposes.
• Maintain the General Ledger accounts for the Enterprise Fraud Department and clear all items according to the Bank policy (90 days or before).
• Work all fraud/dispute Pin Debit claim through STAR.
• Maintain proper follow up on Pin Debit fraud/dispute claim. This includes the chargeback process cycle, and photo request. 

Service Level Tracking

• Meets the following Service Level Agreements:
  • Accurately Process Critical Duties => 95%
  • Potential Fraud Exceptions Timely Submission = > 95%

Compliance Responsibilities 

Complies with all applicable state and federal banking laws, regulations, and internal policies related but not limited to lending, operations, and deposit requirements, including Bank Secrecy Act (BSA), Anti-Money Laundering (AML) requirements, Office of Foreign Assets Control (OFAC) regulations, Customer Identification Program (CIP) requirements, Financial Elder Abuse reporting laws, Sexual Harassment prevention policies, information security and privacy requirements.

Required Knowledge 

• Regulation CC
• Regulation DD
• Regulation D
• Regulation E (EFT) Overview
• Knowledge of Mastercard Rules and Regulations
• Regulation E – Error Resolution

Knowledge, Skills and Abilities 

• Clear understanding of the English language (spoken & written).
• Basic mathematical skills.
• Intermediate typing skills.
• Strong customer service and listening skills.
• Time management skills.
• Excellent interpersonal skills.
• Excellent communication skills. 
• Critical thinking and analytical investigative skills.
• Ability to actively listen & learn.
• Ability to respectfully communicate with supervisors and co-workers.
• Ability to effectively deal with unpleasant, angry or discourteous people.
• Ability and desire to foster and interact in a team environment, and willingness to contribute to team efforts.

Additional Requirements 

• Must be available to work occasional Holiday and/or Saturday hours based on business needs.

Equipment Operated 

• Operates standard electronic computers and customary office equipment required to perform essential job functions.
• Use of equipment is required, with or without reasonable accommodation, in accordance with the Americans with Disabilities Act (ADA) and the California Fair Employment and Housing Act (FEHA).

Physical Requirements & Work Environment 

The physical demands and work environment characteristics described below are representative of those that must be met by an employee to successfully perform the essential functions of this position. Nothing in this description is intended to limit the availability of reasonable accommodation under applicable law.

• Ability to perform repetitive movements associated with office and computer-based work.
• Ability to sit and or stand for extended periods of time to perform essential job functions.
• Ability to lift, carry, or move objects weighing up to 25 pounds, with or without reasonable accommodation.
• Ability to use hands and fingers to manage, manipulate, or feel objects and operate standard office equipment.
• Work is primarily performed in an office environment with a controlled temperature and standard office conditions.

Education and Experience 

• Associate’s degree, preferred.
• 1+ years of experience in a banking security environment and/or 1 year of experience in a credit card or debit card processing environment.
• Experience in overall bank operations, required.

Minimum Absence Requirement

Some positions within the Bank have been designated as sensitive positions due to access to critical systems, records, or processes. In accordance with Bank policy and sound internal‑control practices, employees in sensitive positions are required to complete a mandatory consecutive absence from essential duties each calendar year to support segregation of duties and independent review.

The required absence will be scheduled in coordination with management to ensure continuity of operations. Administration of absence, including paid or unpaid status, will comply with all applicable federal, state, and local wage and hour and leave laws, including California requirements.

Required Minimum Absence for This Position: Two (2) Consecutive Weeks

Officer Title Eligibility 

For qualified positions, the Bank may designate an Officer Title based on the role’s job level, scope of responsibility, and alignment with established competency frameworks. Eligibility for an Officer Title designation is contingent upon the employee meeting defined competency, performance, and experience requirements and is governed by applicable Bank policies, governance standards, and required approval processes.

• This position is not eligible for an Officer Title.

Compensation

The listed range represents the full compensation range for this position. Placement within the range will be determined based on factors including skills, relevant experience, job‑related qualifications, geographic location, and internal equity, in accordance with Bank compensation policies.

• Non‑Exempt Hourly Rate: $20.50 - $30.50 per hour

Disclaimer

This job description is intended to describe the general nature and level of work being performed and is not intended to be an exhaustive list of all duties, responsibilities, or qualifications. Employees may be required to perform other duties as assigned, consistent with business needs and applicable law.

Farmers and Merchants Bank of Long Beach reserve the right to modify, amend, or discontinue job duties or requirements at any time. Nothing in this job description creates a contract of employment, either express or implied, or alters the at‑will nature of employment.

June 18, 2026