Fraud Detection Specialist
About the position Responsible for identifying, investigating, and mitigating potential fraud and identity theft risks through the analysis of transactional activity and account behavior. Utilizes fraud detection systems and investigative tools to assess suspicious activity, support case resolution, and provide actionable recommendations. Contributes to the organization’s fraud prevention efforts by identifying emerging trends, ensuring accurate documentation, and supporting regulatory reporting requirements.
Responsibilities
- Proactively identify, assess, and mitigate potential fraud and identity theft risks through transaction monitoring, data analysis, and investigative practices.
- Conduct thorough investigations and provide well-supported recommendations to resolve suspicious activity and minimize organizational loss.
- Ensure accurate and timely completion of required regulatory filings, including Suspicious Activity Reports (SARs), in accordance with established policies and standards.
- Identify emerging fraud patterns and trends through data analysis and collaboration with internal and external partners to strengthen fraud prevention strategies.
- Partner with internal departments and external institutions to validate information, share insights, and support a coordinated approach to fraud detection and prevention.
- Review alerts generated by fraud detection systems and analyze account and transaction activity.
- Utilize data, reports, and investigative tools to identify and assess potential fraudulent behavior.
- Conduct detailed investigations using internal and external data sources.
- Document findings, maintain case files, and support loss reporting and resolution activities.
- Prepare and submit Suspicious Activity Reports (SARs) in accordance with regulatory requirements.
- Ensure investigations and documentation meet audit and compliance standards.
- Communicate with internal stakeholders, branches, and external financial institutions.
- Partner with fraud and financial crimes units to validate fraud activity and identify trends.
- Prepare investigative summaries and reports for management and stakeholders.
- Identify patterns, trends, and opportunities to enhance fraud detection processes and tools.
Requirements
- High School Diploma required
- Minimum of three years of experience in fraud detection, investigations, or financial crimes within financial services or a related industry
- Strong knowledge of fraud risks across multiple payment channels, including check, ACH, wire, mobile deposit, and debit/credit card transactions
- Demonstrated ability to analyze data, identify trends, and evaluate transactional patterns
- Strong organizational skills with the ability to manage multiple investigations simultaneously and meet deadlines
- Effective interpersonal and communication skills with the ability to collaborate across internal and external stakeholders
- Proficiency in Microsoft Office applications, including Excel and Word
Nice-to-haves
- additional education in criminal justice, finance, business, or a related field preferred
- Relevant professional certifications (e.g., CFS, CFE, CFRS) preferred
- Solid understanding of banking operations and regulatory expectations related to fraud and financial crimes preferred
Benefits
- Medical
- Dental
- Vision
- 401(k) Match
- Profit Sharing
- Paid Time Off
- 11 Holidays
- Tuition Reimbursement
- Free Parking throughout Tompkins Community Bank
- Employee Referrals