Card Fraud Investigator

Position Summary:

The Fraud Prevention Department supports the Credit Union through fraud monitoring and risk mitigation. Card Fraud Investigators will review accounts and transactions to identify, process and resolve card fraud activity and mitigate exposure to the Credit Union and our members. Card transactional activity is monitored and actioned to ensure members’ cards and funds are secure and that there is minimal risk of loss. Qualified candidates will be knowledgeable about products and services that the Credit Union offers, possess exceptional verbal and written communication skills, handle daily responsibilities with thoroughness and accuracy and be able to conduct a comprehensive analysis to identify and mitigate fraudulent activity.

Work Location:

This position is an hybrid role based out of the Headquarters buildings in East Lansing. Regular travel is required to branch locations throughout the Lansing area as well as throughout Michigan.

Essential Duties and Responsibilities

Level I:

• Review accounts and transactions for fraudulent activity and take appropriate action, such as restricting account activity, to prevent fraud losses and recover funds. This may require extensive research and independent decision-making.
• Investigate fraud and dispute claims or potential losses incurred from card transactions and in accordance with laws, regulations, policies and procedures.
• Assist members promptly and professionally in person, over the phone, or through the Credit Union’s messaging systems when working on fraudulent or potentially fraudulent account activity.
• Provide card fraud expertise to service area employees in reviewing and taking action on (potentially) fraudulent activity.
• Process card fraud claims, as applicable.
• Review and take appropriate action on card fraud notices and alerts and inform decisions on rule creation and other loss mitigation strategies.
• Use the tools and resources provided to review and investigate card fraud claims.
• Proactively solve member and employee complaints and issues using good judgement.
• Educate and advise members in making informed decisions about card and account use and security.
• Develop and maintain a working relationship with departments, branches, and contacts at other financial institutions to expedite exchange of information and to obtain assistance and counsel when needed on all matters pertaining to card fraud.
• Efficiently use multiple systems such as Episys Quest, Visa DPS, Visa Online and Cardinal Commerce simultaneously for reporting, information gathering and completing card fraud investigations.
• Complete projects as assigned by management that produce quality and action driven results within provided deadlines.
• Maintain awareness and understanding of emerging and changing card fraud trends.
• Demonstrate understanding between card fraud and card dispute claims and take action appropriately.
• Accurately document all account review efforts, contacts with members and actions taken, in a thorough and timely manner to ensure updated information is available to front line and other employees.
• Perform account maintenance and daily balancing of all financial transactions performed.
• Record and maintain card losses by category, fraud tracking, and other department trackers.
• Actively engage in department initiatives and achieve assigned position goals.
• Participate in training activities within your department or branch and with the learning and talent development department; such training helps to ensure staff compliance with Credit Union policies and state and federal regulations and laws
• Perform other duties and assist other employees, as assigned

Level II:

• All of Level I duties and responsibilities.
• Prepare accounts for monthly card fraud loss resolution and reporting.
• Handle escalated member situations and take appropriate action to resolve them.
• Notify management about common card fraud activity trends and make recommendations to update or implement changes to prevent further loss.
• Identify training opportunities and work with management to implement them.
• Consistently take ownership of situations, utilize resources, approach tasks with a solution-based mindset and attention to detail.
• Identify industry trends in fraud and risks associated with fraud and make recommendations in controlling and mitigating risk.
• Make recommendations for loss mitigation strategies based on fraud trends.
• Consistently meet or exceed assigned goals and is engaged in department initiatives.

Level III:

• All of Level I and II duties and responsibilities.
• Take ownership of situations and handle them independently with confidence, knowledge and creative solutions.
• Review and manage card fraud trends; write, test and implement rules.
• Review accounts and prepare reports for monthly card fraud tracking and reporting.
• Proficient application of the Credit Union’s fraud practices and strategies, which includes intermediate level ability to handle account fraud situations.
• Constantly achieve assigned goals and motivate others to do the same, high level of engagement in department initiatives.
• Perform all tasks consistently and accurately with attention to detail.
• Serve as a mentor to Level I and II employees.

Senior Level:

• All of Level I, II and III duties and responsibilities.
• Evaluate efficacy of loss mitigation strategies and make appropriate updates as needed.
• Provide expert level solutions to minimize or reduce the risk to the Credit Union.
• Be a known resource in the department by having a strong depth of knowledge surrounding Credit Union products, services, policies and procedures, which includes a proficient level of understanding and application of account fraud situations
• Lead co-workers to take ownership and engage others in participating in department initiatives.
• Support the training of employees in the department.
• Update, create and present documents and processes for assigned duties and responsibilities.
• Act as in-charge person within the department in the absence of management.
• Exhibit an expert level of understanding and application of card fraud.

Knowledge, Skills, and Abilities Required

Level I:

• High school diploma or GED required.
• Must have strong independent thinking skills with the ability to prevent, detect and investigate signs of internal and external fraud.
• Must have the ability to assess the risks of fraud and make recommendations in controlling risks.
• Ability to show effective decision-making skills and recognize the appropriate action needed when reviewing activity.
• Interpersonal skills to communicate and negotiate effectively with a diverse group of members and employees in stressful situations
• Strong written and verbal communication and listening skills to effectively obtain necessary information to make appropriate and effective decisions.
• Grammatical and typing skills with an emphasis on accuracy.
• Problem solving skills.
• Ability to empathize with others.
• Must be self-motivated and able to work independently.
• Ability to multi-task and work in a fast-paces and goal oriented, team environment.
• Must be responsible, professional and dependable.
• Attention to detail and accuracy.
• Functional knowledge of financial products, services, policies, procedures and systems.
• Knowledge of Regulation E and Visa rules and regulations.

Level II:

• All of Level I knowledge, skills, and abilities.
• Above average investigative skills and techniques, including: negotiating, active listening and communication.
• Above average decision-making process to effectively determine what course of action to take and solutions that are realistic and within guidelines.
• Above average analytical skills to solve problems and identify unusual or suspicious activity.
• Ability to promote a positive team environment.
• Strong attention to detail and accuracy required to operate with latitude for independent judgement and initiative.
• Above average knowledge and application of card fraud trends, policies and regulations.
• Comprehension of card fraud trends displayed in analyzing account activity and identifying concerns.
• Above average ability to offer additional solutions to members and resolve escalated situations.

Level III:

• All of level I and II knowledge, skills, and abilities.
• Advanced analytical skills to solve complex problems and arrive at innovative solutions.
• Advanced communication skills to diffuse escalated situations and resolve conflict.
• Advanced knowledge of fraud trends, policies and regulations.
• Advanced interpersonal skills, which allow for the appropriate methods of dealing with human behavior in a variety of circumstances.
• Advanced knowledge of navigating reports and systems, interviewing and information gathering for decision making.
• Advanced and precise attention to detail and high level of accuracy in work performed.
• Proven ability to use independent judgement, discretion and take initiative to make decisions and mentor others to do the same.
• Leadership skills to provide help to other employees in the absence of management.

Senior Level:

• All of level I, II and III knowledge, skills, and abilities.
• Completion and/or pursuit of Leadership Development Program.
• Expert knowledge and application of fraud, skills and techniques.
• Consider potential risk exposure associated with decisions outside of guidelines at an expert level.
• Expert analytical skills to solve complex problems and arrive at innovative solutions.
• Expert level understanding and implementation of rules, regulations, policies and procedures.
• Ability to work independently and meet deadlines with minimal supervision.
• Advanced ability to effectively mentor and support other employees.
• High level of confidentiality and discretion to work directly with management on sensitive member and employee accounts.

Physical Demands and Work Environment

• May be required to remain in a stationary position for an extended period of time.
• Ability to operate standard office technology, equipment and tools, which may include many hours of computer and phone usage.
• Occasionally needs to move about inside of office area
• Exposure to potentially hazardous condition, i.e. robbery. Receives detailed instructions and procedures to be followed to minimize the exposure
• This position is able to work in hybrid or onsite working arrangements.

Education

• High School or better

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)