Fraud Analyst I

Description

The Fraud Analyst I is responsible for supporting the credit union’s fraud prevention and detection efforts by identifying, monitoring, and investigating suspicious member activity. This entry-level position plays a vital role in protecting members and organizational assets by conducting initial fraud reviews, escalating complex cases, and maintaining accurate documentation. The Fraud Analyst I works collaboratively with team members and under the guidance of senior analysts and management to ensure effective fraud mitigation while upholding member trust and service standards.

Essential Functions

• Monitor transactions and alerts through various fraud detection systems to identify potentially fraudulent activity.
• Review new and existing member accounts for suspicious patterns, inconsistencies, or anomalies.
• Conduct preliminary investigations into suspected fraud cases; gather documentation, analyze activity, and summarize findings.
• Document all findings clearly and accurately in case management systems and escalate more complex cases to Fraud Analyst II, Fraud Analyst III, or Sr. Enterprise Fraud Manager.
• Assist in executing countermeasures and fraud mitigation steps, including account holds, transaction blocks, and contacting members for verification.
• Maintain up-to-date knowledge of fraud trends and schemes relevant to the financial services industry.
• Collaborate with internal departments, such as Member Services and Operations, to ensure timely resolution of fraud cases.
• Adhere to all regulatory requirements, internal policies, and procedures related to fraud prevention and member data privacy.
• Participate in training, cross-training, and fraud awareness initiatives as directed.
• Perform other fraud-related duties as assigned.
  
  

Qualifications

Education/Certification:

• High school diploma or GED required.
  
  

Required Knowledge

• Basic understanding of fraud types, detection methods, and investigative principles.
• General knowledge of financial institution operations and terminology.
• Familiarity with banking platforms, member services systems, or case management software preferred.
  
  

Experience Required

• A minimum of one year up to three years of similar or related experience, including preparatory experience
• Previous experience handling confidential or sensitive information is beneficial.
  
  

Hard/Technical Skills/Abilities

• Proficient with Microsoft Office Suite (Word, Excel, Outlook).
• Ability to quickly learn fraud detection tools, case management systems, and core banking platforms.
• Strong analytical skills with the ability to recognize suspicious patterns and make sound decisions based on available data.
• Excellent written communication for documenting cases and preparing summaries.
• Effective verbal communication skills when working with members or internal staff.
• High attention to detail and accuracy in reviewing data and entering information.
• Ability to manage multiple tasks in a fast-paced, high-volume environment.
• Familiarity with using a PC, 10-key, telephone, and standard office equipment.
  
  

WORKING CONDITIONS

• Standard office conditions
• Low to moderate noise
• Limited lifting up to 10 lbs.