Fraud Specialist

Company: Alterna Savings & Credit Union Ltd.

Location: 2909 Queen St E, Brampton, L6T 5J1

Job Type: Full time

Target Salary Range: $50,000 - $55,000

The compensation for this position is determined by a combination of skills, experience and is aligned to the market in which the job is posted. Your recruiter will provide additional details about our total rewards package during the hiring process.

Vacancy Status: This is an existing position

Scope of Position

Under the direction of the Manager, Fraud, the Fraud Specialist works for Alterna Savings and Alterna Bank mitigating all fraud risks to the organization. The Fraud Specialist is responsible to analyze, investigate and confirm fraud related transactions by monitoring fraud related reports and/or fraud related tools.

Major Responsibilities

• Using fraud monitoring/detection tools and reports, monitor and analyze account activity for potential fraud; identify potential fraud and follow established practices to mitigate fraud losses.
• Observe and monitor customer transactions to identify fraudulent activities.
• Contact members regularly to confirm transactions, investigate root cause of discrepancies and advise appropriate actions to mitigate risk and fraud.
• Make time sensitive decisions relating to account restrictions, requiring sound and independent judgment related to member impacts and potential losses for the organization.
• Immediately communicate new fraud trends and emerging risks to the Senior analyst and the Manager Fraud.
• Respond quickly, prioritize and escape where appropriate when dealing with time sensitive fraud related incidents
• Provide detailed information for the purpose of analyzing and detecting unusual or fraudulent activity on customer accounts.
• Support effective utilization of fraud detection systems, tools and reports to prevent, detect and manage fraud losses by participating in on-going training to develop and maintain knowledge, skills and capabilities.
• Provide recommendations to the Senior Analyst and Manager Fraud for changes which reduce fraud exposure and losses while maintaining cost effective and providing a high level of customer service.
• Interact with other Financial Institutions to validate information to prevent fraud losses.
• Ensure confidentiality of all information collected during investigations

Qualifications

Education / Certifications / Experience

• Post-Secondary education in criminology business or related field and/or direct experience in a similar role within a financial institution
• Minimum 1 to 2 years experience in fraud detection and prevention or banking operations in the financial services industry is an asset.
• Background in computerized applications, databases and other data retrieval tools.
• Proven record of increasing responsibilities in previous roles
• Bilingualism is an asset
• Must be available to work Weekends and Holidays on rotation.

Knowledge / Skills

• Strong analytical and problem-solving skills.
• Strong interpersonal oral and written communication and presentation skills.
• Ability to learn, adapt to and effectively use new software programs.
• Skills in data mining and analysis, plus strong ability to create reports for a variety of audiences to provide details of the analytical work and support the implementation of new fraud strategies.
• Proficiency in developing and writing rules for technology-based fraud monitoring/detection tools is an asset.
• Multiple task management, and excellent ability to plan, organize and prioritize.
• Leadership skills, with ability to work independently and under pressure.
• Strong initiative, judgment, maturity, discretion and integrity.