Job Description

Fraud Specialist

Conducts and assists with the investigation and research of disputes as well as suspicious and/or fraudulent activities in accordance with state and federal regulations. The specialist serves as a liaison between internal departments and the impacted customer to ensure remediation efforts are completed in an efficient and appropriate manner. The incumbent also assists with the review and identification of possible fraudulent check activity, and conducts the research necessary to verify the payment to prevent potential fraud.

Hourly Wage: $26.44 - $33.65

Location: Los Angeles, California

Hybrid Eligibility: Yes

Essential Duties:

1. Compliance with aspects of the Bank Secrecy Act Compliance Program, specifically with record keeping requirements and red flags associated to back office monitoring and report reviews to prevent and deter illicit activity, fraud, and money laundering; assists independent, state and federal regulator auditor inquiries.
2. Maintains proficient knowledge of the rules and regulations, including but not limited to, the Bank Secrecy Act, USA Patriot Act, and OFAC.
3. Reports any information or knowledge of any events or transactions that could cause a reasonable person to suspect activities that should be reported to the BSA department for further analysis.
4. Identifies and mitigates potential risk issues against the Bank, assists in providing BSA, AML, OFAC and CIP compliance support; interacts with Bank personnel pertaining to such issues.
5. Responds to inquiries or refers inquiries to the appropriate department or person, and exhibits the necessary follow through with customers and/or staff.
6. Assists with the collaboration between internal resources when conducting an investigation, disposition and resolution of all issues related to, disputes, and/or suspicious or fraudulent activity; ensures reports are filed with appropriate law enforcement, federal agencies and management in accordance with state and federal regulations. Takes necessary action to protect the customers and the bank to minimize losses. Reports any information or knowledge of any events or transactions that could cause a reasonable person to suspect activities that should be reported to the BSA department for further analysis. Responds to inquiries and provides explanations to differentiate suspicious activity from non-suspicious activity.
7. Serves as a point of contact for customers during the fraud mitigation process. Coordinates efforts amongst the various departments within the Bank for all related services that have been impacted by fraud and ensures a smooth customer experience throughout the fraud mitigation process.
8. Identifies and escalates fraud mitigation issues to direct management when necessary.
9. Creates and maintains fraud cases within the Abrigo BAM+ Fraud Case Management system.
10. Assists with the preparation of management reports on fraud and Red Flag Identity Theft trends.
11. Reviews in-clearing items within the Oasis system for validation in order to prevent fraud. Compares signature to signature card, check stock, number of signatures required with dollar limits, payee, endorsement and sequential order of checks, as well as any other potential red flags of fraudulent activity.
12. Consults with customer as needed to determine authenticity of item presented, and begins the remediation process for any identified fraud.
13. Reports discrepancies to their direct manager.
14. Performs customer requested research when necessary, and resolves customer inquiries efficiently and timely.
15. Answers telephones, answers questions and directs calls to proper Bank personnel.
16. Assures compliance with all Bank policies and procedures and all applicable state and federal banking laws, rules and regulations.
17. Completes administrative tasks correctly and on time and supports the Bank's goals and values.
18. Performs the position safely, without endangering the health or safety of themselves or others and reports potentially unsafe conditions.
19. Maintains regular and reliable attendance.

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