Fraud Specialist
First Commonwealth Bank, Powell, OH, United States
Candidate must reside in PA or OH to be Telecommuting eligible.
The Fraud Specialist plays a vital front-line role in First Commonwealth’s fraud detection and response efforts. Reporting to the Assistant Fraud Manager, this position is responsible for monitoring transaction activity, reviewing fraud alerts, investigating suspected fraud cases, and assisting in loss mitigation. The Fraud Specialist ensures timely and accurate handling of fraud-related matters while delivering excellent internal and external customer service.
This individual will work across multiple channels—including deposit, debit/credit cards, online banking, mobile, checks, ACH, and wire transactions—and apply critical thinking and fraud knowledge to assess and respond to suspicious activity. The ideal candidate is detail-oriented, curious, and adaptable, with a strong sense of urgency and accountability in a fast-paced environment.
Essential Job Responsibilities
Reviews and analyzes fraud alerts generated by internal systems, vendor platforms, and customer reports.
Determines validity of activity and initiates contact with customers or business units as needed to confirm transactions.
Escalates confirmed or high-risk cases to the Assistant Fraud Manager or Fraud Manager for further action.
Documents fraud cases in the case management system (Verafin), including findings, decisions, and actions taken.
Assists in gathering and preserving evidence for internal use, external recovery, or legal investigation.
Follows fraud standard operating procedures (SOPs) and contributes to their ongoing improvement.
Contacts customers to verify suspicious transactions, educate them on fraud risks, and assist in resolution or reimbursement processes.
Provides a professional, empathetic, and informative experience for customers impacted by fraud.
Communicates fraud prevention tips and reinforces security best practices.
Initiates preventative actions such as holds, blocks, or recommends account closures to contain fraud exposure.
Works with internal departments and external vendors to process fraud claims, chargebacks, and recoveries.
Contributes to recovery efforts and documentation for regulatory or insurance-related purposes.
Collaborates with other Fraud Specialists, Investigators, and Operations staff to resolve cases efficiently.
Participates in fraud trend discussions, training sessions, and quality assurance reviews.
Maintains up-to-date knowledge of fraud schemes, tools, and financial industry regulations.
Promptly responds to any criminal activity and works closely with law enforcement agencies (FBI, US Postal Inspectors, Secret Service, Department of Homeland Security, etc.) on fraud cases.
Bona Fide Occupational Qualifications
High school diploma or equivalent; Associate’s or Bachelor’s degree preferred.
One (1) to three (3) years of experience in fraud detection, financial services, or banking operations.
Knowledge of common fraud types (e.g., phishing, identity theft, card fraud, account takeover).
Strong attention to detail and ability to follow structured workflows.
Solid written and verbal communication skills.
Proficiency with Microsoft Office and financial systems; ability to learn fraud software platforms.
Experience with fraud platforms (e.g., Verafin).
Familiarity with regulatory guidance (e.g., Reg E, UDAAP, BSA/AML, UCC Articled 3, 4 and 4A, NACHA rules).
A valid driver’s license and ability to travel as necessary within the bank’s footprint is required.
Ability to multitask in a fast-paced environment.
Displays effective and suitable telephone etiquette when speaking to First Commonwealth Bank personnel as well as clients and vendors.
May be eligible for Telecommuting.
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The Fraud Specialist plays a vital front-line role in First Commonwealth’s fraud detection and response efforts. Reporting to the Assistant Fraud Manager, this position is responsible for monitoring transaction activity, reviewing fraud alerts, investigating suspected fraud cases, and assisting in loss mitigation. The Fraud Specialist ensures timely and accurate handling of fraud-related matters while delivering excellent internal and external customer service.
This individual will work across multiple channels—including deposit, debit/credit cards, online banking, mobile, checks, ACH, and wire transactions—and apply critical thinking and fraud knowledge to assess and respond to suspicious activity. The ideal candidate is detail-oriented, curious, and adaptable, with a strong sense of urgency and accountability in a fast-paced environment.
Essential Job Responsibilities
Reviews and analyzes fraud alerts generated by internal systems, vendor platforms, and customer reports.
Determines validity of activity and initiates contact with customers or business units as needed to confirm transactions.
Escalates confirmed or high-risk cases to the Assistant Fraud Manager or Fraud Manager for further action.
Documents fraud cases in the case management system (Verafin), including findings, decisions, and actions taken.
Assists in gathering and preserving evidence for internal use, external recovery, or legal investigation.
Follows fraud standard operating procedures (SOPs) and contributes to their ongoing improvement.
Contacts customers to verify suspicious transactions, educate them on fraud risks, and assist in resolution or reimbursement processes.
Provides a professional, empathetic, and informative experience for customers impacted by fraud.
Communicates fraud prevention tips and reinforces security best practices.
Initiates preventative actions such as holds, blocks, or recommends account closures to contain fraud exposure.
Works with internal departments and external vendors to process fraud claims, chargebacks, and recoveries.
Contributes to recovery efforts and documentation for regulatory or insurance-related purposes.
Collaborates with other Fraud Specialists, Investigators, and Operations staff to resolve cases efficiently.
Participates in fraud trend discussions, training sessions, and quality assurance reviews.
Maintains up-to-date knowledge of fraud schemes, tools, and financial industry regulations.
Promptly responds to any criminal activity and works closely with law enforcement agencies (FBI, US Postal Inspectors, Secret Service, Department of Homeland Security, etc.) on fraud cases.
Bona Fide Occupational Qualifications
High school diploma or equivalent; Associate’s or Bachelor’s degree preferred.
One (1) to three (3) years of experience in fraud detection, financial services, or banking operations.
Knowledge of common fraud types (e.g., phishing, identity theft, card fraud, account takeover).
Strong attention to detail and ability to follow structured workflows.
Solid written and verbal communication skills.
Proficiency with Microsoft Office and financial systems; ability to learn fraud software platforms.
Experience with fraud platforms (e.g., Verafin).
Familiarity with regulatory guidance (e.g., Reg E, UDAAP, BSA/AML, UCC Articled 3, 4 and 4A, NACHA rules).
A valid driver’s license and ability to travel as necessary within the bank’s footprint is required.
Ability to multitask in a fast-paced environment.
Displays effective and suitable telephone etiquette when speaking to First Commonwealth Bank personnel as well as clients and vendors.
May be eligible for Telecommuting.
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