Fraud Specialist

There's a reason we've won so many awards for being one of the best companies to work for! We invite you to apply to join the DFCU family, and here's what's in it for you:

• 12 paid holidays
• Competitive compensation
• Benefits, perks, and discounts worth a double-take
• A positive atmosphere and co-workers who truly care
• Enjoyable activities and wellness initiatives
• Work-from-home flexibility (hybrid schedule)

Summary: The Fraud Specialist at a credit union is tasked with ensuring the safety of member assets and the integrity of the institution's operations. This role involves detecting, investigating, and preventing fraudulent transactions tailored to the unique needs and scale of a credit union.

Duties and Responsibilities:

Fraud Detection & Investigation:

• Monitor member account activities and transactions for suspicious patterns using fraud detection systems.
• Conduct thorough investigations into suspected or reported fraudulent activities.
• Coordinate with internal departments and external entities as necessary during fraud investigations to contain and mitigate the impact of confirmed fraud incidents.
• Collaborate with department staff across the credit union to provide training, foster effective relationships, develop operationally-sound fraud policies, and promote teamwork in order to combat fraud at all levels and types.
• Document and maintain records of all investigations for compliance and reporting purposes.
• Collaborate with IT and other relevant departments to strengthen fraud detection systems.
• Keep abreast of the latest in fraud schemes pertinent to credit unions.

Training & Collaboration:

• Develop educational materials and workshops on fraud prevention and proper reporting and provide periodic training to Staff. Advocate for and promote a culture of fraud awareness within the credit union community.
• Collaborate with other financial institutions and regulatory bodies to share best practices and intelligence about fraud trends.
• Assist members who have fallen victim to fraud, guiding them through resolution processes and reassurances about asset protection.
• Maintain close communication with law enforcement agencies and assist in investigations when required.

Regulatory & Compliance Adherence:

• Ensure that all fraud prevention measures comply with relevant regulations and industry best practices such as Bank Secrecy Act, Patriot Act and OFAC.
• Participate in internal and external audits, ensuring documentation and practices meet standards.
• Prepare reports on fraud for management and regulatory bodies as necessary.

Qualifications:

• Bachelor’s Degree in Business Administration, Finance, Accounting, criminal justice, or a related field (proven extensive related work experience is considered in lieu of degree).
• Relevant certifications, such as Certified Financial Crime Specialist (CFCS), or Certified Payments and Fraud Prevention Professional (CPFPP) are preferred.
• Minimum 3 years of experience in fraud detection, investigation, or security within a financial institution, preferably in a credit union setting.
• Microsoft Office Suite

Competencies:

• Member-centric approach, aligning with the core values of credit unions.
• Strong analytical, organizational, and problem-solving skills.
• High ethical standards, integrity, and discretion.
• Collaborative mindset with a focus on teamwork.
• Ability to communicate effectively with both members and staff.
• Ability to prioritize tasks according to potential impact to the Credit Union.
• Experience with Microsoft Office Suite, and Verafin.

Work Conditions: The Fraud Specialist typically operates within a credit union office environment. However, Hybrid remote /office work schedule is considered for this position. Due to the reactive nature of fraud incidents, some irregular hours or overtime might be necessary. Occasional travel to branches; rare travel out of area for conferences.

Deseret First Credit Union is proud to be an Equal Opportunity Employer, providing equal employment opportunities to all employees and applicants without regard to race, color, religion, sex, gender identity, age, national origin, disability veteran status, pregnancy, sexual orientation, or any other characteristic protected by law.