Fraud Specialist

Fraud Specialist

At CommonWealth, we serve the financial needs of more than 40,000 people who live or work in Santa Clara County. We are seeking candidates who share our value and commitment to building stronger communities through financial health – one member at a time. In addition to a competitive base salary, our compensation package includes:

• 13 paid holidays
• 17 days of Paid Time Off (PTO) during first year of employment
• Up to 2% discounts on loans--including first mortgages*
• 401(k) Plan with Company Match
• Medical, dental, vision insurance
• Long-term disability insurance
• Life insurance
• Voluntary insurance
• Employee assistance program
• Financial Wellness benefits and resources
• Tuition reimbursement and more
  

We are currently accpteing applications fora Fraud Specialist based in our San Jose Corporate office. 

As our Fraud Specialist, your major responsibilities will include:

• Actively handle the Credit Union’s fraud monitoring, investigation and prevention activities to protect the Credit Union and the financial well-being of members.
• Focus on mitigating account fraud, also supports an environment that balances loss exposure with member service. Communicate with members, law enforcement and regulatory agencies as needed.
• Monitor, review, investigate and document suspected cases of fraud pertaining to member accounts, including check fraud, debit fraud, identity theft, account takeover, and/or any other current fraud trends.
• Investigate suspected fraudulent activity and take precautionary measures to mitigate losses as per Credit Union procedures.
• Track and report fraud trends and patterns through various methods including spreadsheets, and other available tools. Additionally, track and report dollar amounts associated with fraud, including losses and the potential amounts recovered through fraud prevention techniques.
• Review daily reports from the Credit Union’s core processing system that monitors for internal fraud. Report any suspected internal fraud to Compliance Director.
• Assist various departments in investigating suspected fraud and conducting research in order to make the appropriate decisions on check holds or other transactions that could be fraudulent.
• Facilitate all cases of reported identity theft for the credit union by working with affected members, assisting departments with ID theft procedures, documenting all ID theft cases, and filing SARs.
• Act as the central point of contact for the reporting of all suspected elder abuse cases for the Credit Union.
• Support the Credit Union’s BSA Officer by filing CTR Reports, clearing OFAC alerts, handling 314(a) reports, responding to 314(b) inquiries, and managing assigned BSA alerts in Verafin.
• Track, monitor, and mail all account closure letters related to fraud or BSA cases.
• Be accountable for the research, monitoring and documentation to prevent fraud.
• Ensure that the Credit Union losses are kept to a minimum due to failure to comply with operational procedures, regulations and applicable laws.

Our ideal candidate will have a minimum of two to five years of credit union or banking experience. Must have a working knowledge of spreadsheets and word processing software in addition to MS Outlook, Word and Excel. Demonstrated ability to communicate effectively (written and verbal). Ability to maintain confidentiality and conduct oneself with a high level of diplomacy and tact.  

Pay Range: $26.40 - $34.00; based on skills and experience.

For immediate consideration, apply now!

CommonWealth is an equal opportunity employer