Fraud Analyst
4 de Octubre del 2024
Role description
The Fraud Risk Prevention Analyst is responsible for analyzing fraud alerts and detecting fraud trends and patterns across payment channels to mitigate fraud through preventive actions. The role monitors several real-time queues and assesses high-risk transactions to reduce losses and minimize risk by identifying potential fraud.
Principal Duties & Responsibilities
- Using various tools, reviews fraud detection system-generated alerts to identify fraudulent activity related to digital banking platforms and payment transactions such as Checks, ACH, and Wire transactions or other account activity. Determines action required based on established procedures to protect the Bank's and client's assets.
- Takes decisive action in alert disposition and clearly documents action(s) taken in a timely manner as per established SLA (service level agreement)
- Maintains accurate audit trail reporting of alert activity and resolution
- Initiates investigation cases on confirmed fraud events, supporting further investigation
- Communicate effectively with customer service and customers through various forms of communication and assist analysts with customer escalations
- Focus on improving overall operational effectiveness by helping manage queue volumes
- Collaborate with team to discuss new and emerging fraud trends
- Supports internal bank employees on fraud related events
- Identifies areas of opportunity within scope of responsibility for increased and timely fraud detection, new fraud parameters and process improvements
- Prepare monthly reports on alert effectiveness and statistics
- Develops new procedures, and updates to existing procedures as needed to ensure all activities related to Monitoring and Detection are up to date.
- Remains current on national and world fraud trends to incorporate into daily activities as appropriate. This includes industry trends related to digital payment fraud.
Qualifications
- 5-7 years of experience in the Banking/Financial industry with a focus on Digital Payment Operations and 3 years of direct experience in a fraud detection role.
- Experience with Verafin Tool or other fraud detection Behavior Analytics tool highly preferred.
- Requires skills in fact-finding, analysis, problem-solving and decision making.
- Strong knowledge of Banking Regulations.
- Experience with the prevention and detection tools using case management /alert system.
- Proficiency and advance computer skills including but not limited to proficiency in Microsoft Office (Word, Excel, Power Point, Access, etc.).
- Strong analytical skills in order to detect and identify weaknesses in the bank's systems and the ability to identify the root cause of the weakness.
- Fully bilingual: English & Spanish
- Candidate must be based in Puerto Rico
Education
- Bachelor's Degree in Business Administration or equivalent proven experience.
