Fraud Analyst I (onsite)

About the position Our Fraud Analyst I position is an opportunity for individuals with 1-3 years of professional financial services experience. Newtown Savings Bank is seeking an organized, team player who acts as the first line of defense in identifying fraudulent activity and protecting the Bank and its customers from undue loss. The role’s primary responsibilities include working daily alerts in the fraud detection system, including review of suspect transactions, preliminary investigation and risk mitigation actions including suspect identification, processing, and reporting. Additionally, the role responds to telephone calls and emails related to fraud activity/concerns as well as customer transaction disputes. This is an onsite opportunity at our Corporate office in Newtown, CT. The role has a remote option of one day per week.

Responsibilities

• Monitors and analyzes daily fraud detection system(s) results in a timely manner.
• Reviews transactions and accounts flagged for suspicious activity, performs thorough research to detect potential fraud on assigned alerts, independently decisions potential fraud items and takes appropriate actions to mitigate loss.
• Works independently and escalates findings to Fraud Team Lead or Manager as needed.
• Monitors account/customer analysis when activity appears unusual, including but not limited to the following sources: monitoring solutions, reports, branch or other bank employee referrals, and other fraud detection sources.
• Identifies, documents and communicates emerging fraud trends.
• Supports continuous improvement of fraud detection and referral processes.
• Assist in the collection of evidence and information to be used for multiple purposes including incident reports/filings, loss prevention, litigation and criminal prosecution, management information and statistics, and process improvements.
• Maintains accurate case records in accordance with internal policies/ procedures, regulatory requirements and quality standards.
• Provide support to branches regarding error resolution and assist dispute specialist as needed.
• Provides support to bank employees, primarily branch and Customer Service Center staff, relative to suspect activity and/or identified fraud.
• Responds in a timely and professional manner ensuring that responses are accurate and based on the Bank’s operating policies and procedures.
• Prepares check draft/forgery/fraud investigation postings, adjustment requests, etc.
• Complies with all applicable federal regulations and guidance.
• Responds to escalations from internal and/or external parties with urgency.
• Interacts regularly with other internal departments; performs appropriate actions required to mitigate losses and communicate with customers directly as needed while also providing a positive customer experience.
• Stays abreast of fraud trends, relevant regulations and compliance standards.

Requirements

• Associates degree in business or equivalent experience (i.e. banking operations, fraud prevention/detection, retail banking, legal/compliance)
• Minimum 1-3 years experience in financial services.
• Working knowledge of current bank fraud investigative techniques and/or systems.
• Strong analytical skills and instincts (e.g., recognizing suspicious activity, identifying when additional assessment is prudent and when escalation is appropriate).
• Ability to research and perform routine analysis independently by assessing all available information.
• Critical thinking skills and ability to work independently to complete assigned responsibilities.
• Demonstrates effective time management skills ensuring time is used efficiently and productively.
• Excellent written/verbal communication skills.
• High degree of accuracy and attention to detail.
• Must be able to work collaboratively within the team as needed and to work cooperatively with other areas of the bank.
• Strong working knowledge of MS Office Suite.

Nice-to-haves

• Experience in Fraud/Financial Crimes strongly preferred.
• Familiarity with Verafin and Centrix DTS solutions a plus.

Benefits

• generous 401(k)
• medical benefits
• paid time off
• short- and long-term disability programs