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Fraud Analyst

Phoenix, AZ 85040

Posted: 06/13/2024 Employment Type: Contract Job Category: Accounting & Finance Job Number: 617167 Country: United States Is job remote?: No

Job Description


Fraud Analyst
12 months
Start 6/03
Process- video interview
Industry- Large commercial bank with many tech & life science customers
Hours- 8-5 with 1 hour lunch
Location- Phoenix AZ- Hybrid - 1 day in office per week   
Background check- yes
Vaccinated- not required
Why Open- Observing/researching and analyzing high risk transactions for fraud 

Must haves:
-2+ years of banking industry or financial crime law enforcement
-Has a laptop to use
-Bachelor’s Degree 
- Understanding of fraud detection and prevention
-Bachelor degree

Job Description:
As a Fraud Analyst I, you will be responsible for researching and analyzing high risk transactions across payment channels to identify indications of potential fraud. This incumbent will effectively respond to fraudulent events in order to minimize loss and promote recovery. The Fraud Analyst I will work collaboratively with both internal and external clients to appropriately investigate, report, and resolve both attempted and actual fraudulent events. The Fraud Analyst I will also evaluate results of actions to support fraud trend analysis and ensure best practices are followed.

Responsibilities include:
  • Review payment channels in a fast paced environment generated from Bank fraud monitoring products and rapidly decision fraud alerts.
  • Investigate and research cases and potentially suspicious situations; efficiently arriving at sound risk based conclusions in order to minimize fraud losses.
  • Clearly document and support judgments, decisions and rationale, which will necessitate strong writing skills and the ability to maintain files and records in accordance with business unit standards.
  • Prepare regulatory and investigative reports (SARs).
  • Identify fraud trends and communicate observations to management.
  • Maintain and update case management system for tracking of fraud cases and relevant information.
  • Work closely and collaboratively with members of the Fraud Department.
  • Provide advisory guidance in fraud prevention techniques and best practices for both internal and external clientele.
  • Identify internal procedural violations and recommend actions to mitigate reoccurrence.
  • Demonstrate sound judgment and decision making in the context of regulatory requirements, Bank policies, and industry best practices.
  • Apply project management and organization skills to a variety of tasks; demonstrating flexibility and problem solving skills.
  • Possess proficiency in understanding banking products and workflows, especially payment systems (check, wire, ACH, and online banking).

Skills and requirements include:
  •  Bachelor’s Degree required.
  • At least 2 years of specifically relevant business experience preferably within the Banking industry or financial crime law enforcement; plus a basic understanding of fraud detection and prevention.
  • Ability to learn and use a variety of systems and technology.
  • Ability to work independently on special projects.
  • Demonstrate aptitude to utilize computer systems, adhere to bank policies and procedures, and ensure compliance with applicable bank regulations.
  • Excellent communication skills.
  • High level of professionalism and confidentiality.
  • Works well in a team environment.
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