Fraud Analyst

Job Description

Job Description

Role:

Serve as the credit union's primary specialist for non-card fraud detection, investigation, and loss mitigation across all electronic channels. Proactively monitor, investigate, and resolve fraudulent or suspicious activity involving Digital Banking (online/mobile banking), ACH origination, wire transfers, internal member-to-member transfers, Remote Deposit Capture (RDC), bill pay, and other non-card payment channels. Ensure full compliance with Regulation E, NACHA rules, UCC, FFIEC guidance, and internal policy while minimizing member impact and financial loss to the credit union.

Essential Functions & Responsibilities:

Thoroughly investigate and resolve fraud cases involving Digital Banking takeover/compromise, fraudulent ACH and wire transfers, unauthorized internal member-to-member transfers, bill pay fraud, and RDC check fraud. Conduct detailed research using transaction logs, login history, device fingerprinting, IP analysis, member statements, and originator documentation to determine liability and recover funds where possible. Adhere to all Regulation E, NACHA, and UCC timelines.

Monitor and action real-time fraud alerts from the core system, digital banking platform (Alkami, Alogent, etc.), Verafin, ACH/Wire monitoring tools, and other detection systems. Make rapid risk-based decisions on transaction blocks, account restrictions, or member contact.

Identify emerging fraud trends and typologies across non-card channels; recommend detection rule enhancements, policy changes, or system configuration updates to the Fraud Supervisor and Risk Management team.

Perform other job-related duties as assigned and remain current on evolving fraud tactics and all regulatory requirements affecting electronic banking channels.

Performance Measurements:

1. 100% compliance with Regulation E, NACHA warranty breach deadlines, and UCC requirements.
2. Fraud loss rate and recovery rate for non-card channels meet or exceed department targets.
3. All system-generated fraud alerts are actioned within established SLAs (typically same-day or real-time).
4. Proactive recommendations lead to measurable reductions in fraud attempts or losses.
5. Accept individual accountability and responsibility for the success of FSCU, including meeting assigned goals and projects. 

Knowledge and Skills:

Experience: One year to three years of similar or related experience.

Education: A high school education or GED.

Interpersonal Skills: Frequent contact with members (often during high-stress fraud events) and internal partners. Must demonstrate empathy, clear communication, and the ability to explain technical and regulatory concepts calmly.

Other Skills Expert: knowledge of Regulation E (error resolution for electronic transfers), NACHA Operating Rules, UCC.

Strong investigative and analytical skills with keen attention to detail.

Proficiency in Verafin (or similar fraud platform), Q2/Alaris digital banking, core processing system, ACH/wire platforms, and RDC systems.

Ability to interpret IP logs, device IDs, velocity patterns, and behavioral anomalies.

Comfort making rapid, risk-based decisions that balance member experience and loss exposure.

Excellent documentation and written communication skills.

Physical Requirements: Standard office environment with prolonged computer and email, text and telephone use.

Work Environment: Professional office setting; may require occasional extended hours during large-scale fraud events or system compromises.