Fraud Specialist (hybrid Maryland based)
EmergencyMD, Greenbelt, MD, United States
General Summary
The Fraud Specialist is responsible for detecting, investigating, and mitigating fraudulent activity affecting the credit union and its members. This role plays a critical part in protecting member assets, reducing financial losses, and maintaining trust by identifying suspicious transactions, conducting thorough investigations, and ensuring compliance with applicable laws and regulations. Additionally, the Fraud Specialist is responsible for ensuring compliance with the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) policies and procedures and the applicable federal regulations to protect the Credit Union from being used as a conduit for illegal and/or fraudulent activity.
Fraud Monitoring, Detection and Investigations
Using fraud alerts within the various software utilized to identify potentially fraudulent activity and take appropriate action to prevent or minimize losses to the credit union.
Identifies, conducts and documents fraud investigations. Prepare cases and police reports and reviews camera footage as appropriate.
Identifies & articulates areas of risk exposure for potential monetary loss within the Credit Union.
Document and respond to Summons and Subpoena requests received by local, state and federal agencies in relation to fraud.
Member Support and Resolution
Communicate professionally and empathetically with members to resolve fraud-related issues.
Process fraud claims, affidavits, provisional credits, and disputes in compliance with regulatory requirements.
Educate members on fraud prevention best practices and steps to protect their accounts.
Coordinate with internal resources to ensure timely and consistent resolution.
Compliance and Reporting
Ensure adherence to applicable regulations including Reg E, Reg CC, UCC, and BSA/AML requirements as applicable.
Assist in preparing fraud-related reports, metrics, and analysis for management and auditors.
Have knowledge on all BSA/AML/OFAC regulations, including FFIEC guidelines, FinCEN requirements, and NCUA expectations.
Monitor emerging risks and recommend program updates as needed.
BSA/AML Support
Serve as a back up to perform daily activities related to BSA/AML monitoring, including reviewing alerts, cases, high-risk accounts, CIP, CDD/EDD, and automated monitoring systems.
Include timely filing of CTRs, SARs, 314(a) responses, and any other required reports.
Maintain documentation, recordkeeping, and audit trails in accordance with regulatory requirements.
Participate in ongoing training to maintain current knowledge of current fraud trends, BSA/AML and OFAC regulatory requirements.
Knowledge, Skills, Ability
Strong understanding of fraud schemes, investigative techniques, and financial transactions.
Knowledge of credit union operations and member service principles.
Ability to analyze data, recognize patterns, and make sound decisions under pressure.
Excellent written and verbal communication skills.
High attention to detail with strong documentation skills.
Ability to handle sensitive information with discretion and confidentiality.
Proficiency with fraud monitoring tools, core systems, and Microsoft Office applications.
Ability to work independently and collaboratively in a fast-paced environment.
Hours Primarily remote, with periodic travel required to Credit Union facilities. Flexibility is essential, including availability for extended hours, occasional weekends, and evenings, as needed.
Education and Experience High school diploma or equivalent required; associate or bachelor's degree in criminal justice, finance, business, or a related field preferred. 1-3 years of experience in fraud prevention, investigations, banking operations, or financial services preferred. Credit union experience preferred.
Certifications (preferred but not required)
Certified Fraud Examiner (CFE)
Accredited Fraud Investigator (AFI)
Certified Anti-Money Laundering Specialist (CAMS)
NAFCU Certified Bank Secrecy Officer (NCBSO)
Disclaimer The above information in this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job. This document is not, nor should it be construed as an employment contract.
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Fraud Monitoring, Detection and Investigations
Using fraud alerts within the various software utilized to identify potentially fraudulent activity and take appropriate action to prevent or minimize losses to the credit union.
Identifies, conducts and documents fraud investigations. Prepare cases and police reports and reviews camera footage as appropriate.
Identifies & articulates areas of risk exposure for potential monetary loss within the Credit Union.
Document and respond to Summons and Subpoena requests received by local, state and federal agencies in relation to fraud.
Member Support and Resolution
Communicate professionally and empathetically with members to resolve fraud-related issues.
Process fraud claims, affidavits, provisional credits, and disputes in compliance with regulatory requirements.
Educate members on fraud prevention best practices and steps to protect their accounts.
Coordinate with internal resources to ensure timely and consistent resolution.
Compliance and Reporting
Ensure adherence to applicable regulations including Reg E, Reg CC, UCC, and BSA/AML requirements as applicable.
Assist in preparing fraud-related reports, metrics, and analysis for management and auditors.
Have knowledge on all BSA/AML/OFAC regulations, including FFIEC guidelines, FinCEN requirements, and NCUA expectations.
Monitor emerging risks and recommend program updates as needed.
BSA/AML Support
Serve as a back up to perform daily activities related to BSA/AML monitoring, including reviewing alerts, cases, high-risk accounts, CIP, CDD/EDD, and automated monitoring systems.
Include timely filing of CTRs, SARs, 314(a) responses, and any other required reports.
Maintain documentation, recordkeeping, and audit trails in accordance with regulatory requirements.
Participate in ongoing training to maintain current knowledge of current fraud trends, BSA/AML and OFAC regulatory requirements.
Knowledge, Skills, Ability
Strong understanding of fraud schemes, investigative techniques, and financial transactions.
Knowledge of credit union operations and member service principles.
Ability to analyze data, recognize patterns, and make sound decisions under pressure.
Excellent written and verbal communication skills.
High attention to detail with strong documentation skills.
Ability to handle sensitive information with discretion and confidentiality.
Proficiency with fraud monitoring tools, core systems, and Microsoft Office applications.
Ability to work independently and collaboratively in a fast-paced environment.
Hours Primarily remote, with periodic travel required to Credit Union facilities. Flexibility is essential, including availability for extended hours, occasional weekends, and evenings, as needed.
Education and Experience High school diploma or equivalent required; associate or bachelor's degree in criminal justice, finance, business, or a related field preferred. 1-3 years of experience in fraud prevention, investigations, banking operations, or financial services preferred. Credit union experience preferred.
Certifications (preferred but not required)
Certified Fraud Examiner (CFE)
Accredited Fraud Investigator (AFI)
Certified Anti-Money Laundering Specialist (CAMS)
NAFCU Certified Bank Secrecy Officer (NCBSO)
Disclaimer The above information in this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job. This document is not, nor should it be construed as an employment contract.
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