Fraud Investigator

Fraud InvestigatorAt Allegacy, there's a common thread that runs through all of us. It's our commitment to doing right and our promise to members to always do the right thing for their wellbeing. Every employee in our organization is accountable to living out our brand in meaningful ways as our promise motivates our beliefs, our behaviors, and the benefits we share together. In order to achieve this state of success, this position will provide and will be responsible for minimizing financial losses by proactively identifying, investigating and pursuing legal action against fraudulent activity, ensuring that fraud related charge offs are kept to a minimum and our members are protected.This position is a fraud investigator role that reports to the Director of Account Management Services and works with other fraud personnel who report to the Director of Account Management Services and others who report to the SVP, Lending. This position is responsible for assisting in the investigation of suspected fraudulent activity affecting the Credit Union. This role involves reviewing reports and alerts, identifying potential fraud cases, and escalating concerns to senior staff or management as needed. Investigative tasks may include gathering documentation, supporting regulatory compliance efforts, and communicating with members or internal teams. The position requires attention to detail, good judgment, and the ability to work both independently and collaboratively with other departments.Assist in investigating suspected fraud cases, ensuring documentation is accurate and cases are handled in a timely manner.Review financial transactions and account activity to help identify unusual or potentially fraudulent behavior.Collect and organize relevant data to support investigative reports or internal reviews.Access and review surveillance footage or images when needed to support investigations.Utilize internal systems and basic external tools to gather evidence related to fraud alerts or cases.Escalate confirmed or suspected criminal cases to senior investigators or management for further action.Support fraud recovery efforts by following established procedures to help reduce losses.Assist in preparing documentation for Suspicious Activity Reports (SARs) under the guidance of senior staff.Provide basic support to business units regarding fraud-related questions or reported suspicious activity.Stay informed of common fraud schemes and trends through internal training or shared resources.Collaborate with other departments to ensure fraud concerns are communicated and addressed appropriately.Participate in team discussions and training sessions to build knowledge of fraud investigation techniques.May assist in employee training sessions by sharing examples or helping facilitate discussions.Occasionally travel to nearby locations to support investigations, if required.Manage assigned tasks and meet deadlines with guidance from supervisors.Maintain professional relationships with internal teams and support communication with external partners when appropriate.Knowledge, Skills and AbilitiesBasic to intermediate understanding of financial systems, transactions, and operationsWorking knowledge of financial regulations, including Anti-Money Laundering (AML) and Know Your Customer (KYC) proceduresFamiliarity with compliance standards and regulatory reporting requirements (e.g., SARs)Awareness of fraud trends, prevention strategies, and recovery processesUnderstanding of debt collection principles and delinquency managementStrong analytical and problem-solving skills with attention to detailProficient in using investigative tools, financial software, and Microsoft Office applicationsEffective written and verbal communication skills for internal collaboration and member interactionsAbility to manage multiple tasks and meet deadlines in a fast-paced environmentCapable of preparing clear, concise reports and summaries for managementSkilled in reviewing account activity to identify patterns, trends, and potential fraud indicatorsAbility to handle sensitive information with discretion and confidentialityStrong interpersonal skills for working with members, internal teams, and external partnersEligible to be bonded and maintain high standards of personal integrityWork independently and collaboratively within a team settingRespond effectively to member concerns and support fraud-related inquiriesAssist in developing and implementing strategies to reduce fraud and improve recovery outcomesSupport training and mentoring of junior staff, as appropriateAdapt to evolving fraud detection technologies and investigative techniquesContribute to the development and refinement of internal procedures and documentationCollaborate with law enforcement and other financial institutions under supervision when necessaryEducation and ExperienceBachelor's degree preferred, especially in Criminal Justice, Finance, Business Administration, or a related fieldAssociate's degree acceptable with 5+ years of relevant experience in fraud investigation, financial crimes, or risk managementHigh School Diploma or equivalent with 7+ years of progressively responsible experience in fraud detection, financial services, or law enforcementPrior experience conducting fraud investigations within a financial institution or credit union strongly preferredExperience working with law enforcement, regulatory agencies, or legal teams in support of fraud cases is a plusDemonstrated ability to analyze complex financial data, identify patterns, and build case documentationProven experience preparing Suspicious Activity Reports (SARs) and working within BSA/AML compliance frameworksFamiliarity with fraud detection systems, case management tools, and forensic evidence gathering techniquesStrong background in customer service or member relations, with the ability to handle sensitive situations professionally