Fraud Analyst

Truliant’s mission is to improve lives by putting our members first, providing great service and straightforward financial solutions. Our core values of Member Focus, Service, Guidance, Relationships, and Community define how we interact with members to fulfill our mission of improving lives and providing a foundation on which we conduct ourselves.

Our Promise to Our Teammates: Truliant strives to provide all teammates with an enjoyable place to work where they feel valued, empowered and rewarded for all that they do.

Purpose of the Job

The Fraud Analyst safeguards Truliant against financial losses and reputational damage caused by fraudulent activities by detecting, preventing, and mitigating fraud through a combination of data analysis, investigation, risk management, compliance, and education. The Fraud Analyst is responsible for monitoring, detecting, and preventing fraudulent activities by analyzing large datasets, identifying fraud patterns, developing predictive models, and enhancing fraud detection strategies through data-driven insights.

Essential Functions and Responsibilities

• Uses a combination of software programs, applications, and manual reviews to analyze large datasets of financial transactions, accounts, and activities to identify trends, anomalies, and potential fraud indicators across various departments and lines of business.
• Monitors real-time and batch transaction data to identify suspicious activities and implement swift action to prevent losses.
• Documents findings, compiles case reports and recommends actions for resolution.
• Conducts comprehensive assessments of existing fraud prevention measures, identifying security gaps and recommending enhancements to ensure robust protection against fraudulent activities.
• Reviews and analyzes investigation data to assess overall risk and recommend fraud mitigation strategies across various business units, including ACH, wire, credit card, payments, returns, and new member accounts.
• Creates reports to track fraud incidents, losses, and emerging risks.
• Develops and enhances automated fraud monitoring tools to improve efficiency and accuracy.
• Employs a combination of automated tools, software applications, and manual reviews to conduct in-depth analysis of transactional data and customer records, identifying and mitigating potential instances of fraud.
• Documents and reports findings from fraud investigations, including recommendations for corrective actions and improvements to fraud prevention measures.
• Researches and evaluates proposed and existing fraud mitigation strategies.
• Generates reports on fraud trends, losses, and mitigation effectiveness for senior leadership.
• Stays abreast of industry trends and emerging fraud risks, proactively closing gaps in the existing fraud prevention framework to stay ahead of evolving threats.
• Participates in corporate projects to review new technologies and procedures to assess effectiveness and refine implementation strategies.
• Maintains confidentiality and adheres to regulatory requirements related to fraud prevention and detection

Other Duties and Responsibilities

• Supports other tasks and projects as assigned
• Provides guidance and mentorship to junior staff, facilitating their professional development
• Documents processes and procedures to ensure compliance with regulations and industry standards

Knowledge, Skills, and Abilities

• Must be familiar with fraud schemes [e.g., account takeovers, identity theft, wire fraud, tokenization fraud]
• Must have proven working knowledge of fraud investigation techniques, processes, and procedures
• Must have knowledge of financial regulations related to fraud, including BSA, AML, Reg E and the USA PATRIOT Act
• Must have high proficiency in Excel and other data analysis tools for fraud detection and trend analysis.
• Must show strong attention to detail by identifying subtle fraud indicators and anomalies in transaction data.
• Must have the ability to compress large amounts of data into short and concise presentations with sound business conclusions
• Must have strong analytical skills, interpretive, and problem-solving skills with the ability to interpret data to identify patterns, determine risk exposure, and make informed recommendations for fraud mitigation and case resolution.
• Must have proficient decision-making skills to make informed recommendations for fraud mitigation and case resolution.
• Must have knowledge of the Visa DPS CATS System
• Must have experience using fraud detection systems [e.g., Verafin]
• Must be proficient in the use of computer systems and systems of record used by the Credit Union
• Must have the ability to communicate clearly and professionally with all levels of an organization
• Must have the ability to understand all business processes within the credit union
• Must have a valid driver’s license
• Must be able to maintain confidentiality
• Must be flexible and able to shift resources and priorities as required and be able to complete all assignments with minimal supervision
• Must possess a strong commitment to providing excellent service to Truliant’s members

Physical Requirements

•    Frequent standing, walking, bending, kneeling, and stooping required
•    Must be able to sit at a desk for long periods of time and use a computer
•    Must be able to moderately lift or move up to 5 pounds and occasionally lift or move up to 10 pounds

 Education and Background

• 2-year degree in Finance, Criminal Justice, Computer Science, Data Analytics, with 4 years’ experience in fraud detection, risk management, financial investigations, or a minimum of 6 years' experience in fraud detection, risk management, financial investigations required.
• Certified Fraud Examiner [CFE], Certified Anti-Money Laundering Specialist [CAMS], and Certified Financial Crime Specialist [CFCS] are highly preferred.
• Experience working in banking, credit unions, or financial institutions preferred.
• Experience with fraud detection tools and systems, a deep understanding of financial fraud risks, and the ability to work with cross-functional teams to mitigate fraud risks and exposure required.
• Experience with fraud vendors, tools, applications, and solutions preferred.

If you have a passion for member service and would like to invest in a meaningful career with opportunity for growth, we encourage you to apply to Truliant! 

As a member of the Truliant family, you will enjoy the following full time benefits:

• No-cost employee Medical, dental, vision coverage
• Prescription benefits (including mail order)
• Paid holidays and Paid Time Off (PTO)
• 401(k) plan with contribution matching  
• Paid community involvement volunteers hours
• Paid group life Insurance
• Teammate loan discounts
• Tuition reimbursement
• Short and long-term disability
• Health & Wellness program
• Teledoc (physician video conferencing)
• Onsite fitness facilities or health club reimbursement
• Employee Assistance Program (EAP)
• Medical flexible spending account
• Dependent care flexible spending account