Fraud Mitigation and Loss Management Analyst
436 Slater Road-HF308
If you're looking for a meaningful career, you'll find it here at Webster. Founded in 1935 by Harold Webster Smith, our focus has always been to put people first--doing whatever we can to help individuals, families and businesses achieve their financial goals. And while we've grown into a leading commercial bank, we remain passionate about serving our customers, supporting our communities, and making a difference in people's lives. We can make a difference in your life, too. By empowering you to build the meaningful career you've been looking for.
Responsibility, respect, trust, teamwork and citizenship are the values on which Webster was founded. Together we call them The Webster Way, and they are what set us apart as a bank and an employer. Guided by these values, we put people first - working hard to live up to our customers, and each other, every day.
SUMMARY: Responsible for analyzing bank transactions, new accounts, and real time activity to identify potential risk and prevent bank loss.
MAJOR DUTIES & RESPONSIBILITES
- Monitors transactions via multiple delivery channels including over-the-counter, ATM, wire, and online banking to identify trends and patterns of fraudulent activity.
- Mitigates identified potential fraud loss using independent judgment by restricting access to customer accounts and performing due diligence and further research.
- Places appropriate holds/notifications in accordance with regulatory requirements.
- Recognizes migration of fraud across delivery channels and takes appropriate actions.
- Prepares internal memos (STMs) based on identified suspicious activity.
- Identifies opportunities to enhance usage of current fraud detection tools to increase efficiency and achieve maximum results and makes recommendations on new tools to keep up with evolving fraud trends.
- Communicate with customers, financial institutions, and internal partners to resolve problems or request additional information and/or documentation.
- Recommends closure of accounts deemed risky/suspicious; performs account maintenance as necessary.
- Escalate issues and exceptions to management as needed.
- Suggest changes and updates, and assists in the testing of tools and workflows to maximize the effectiveness and efficiency of the fraud detection tools, processes, and procedures.
- Identifies patterns of fraud activity based on system output.
- Keep abreast of national and world fraud trends and make recommendations to management to counter current trends and protect customers.
- Perform other related duties as assigned.
- 3 - 5 years of related experience -- At least 4 years of related experience in bank operations, branch supervisory, compliance, audit, investigation, law enforcement or related field.
- Computer skills in Microsoft applications, specifically in Word, Excel and Access
- Proven ability to work independently in a high volume environment
- Strong written and verbal communication and presentation skills
- Strong analytical skills
- Working knowledge of banking laws and regulations
- Ability to work in a team environment
- Attention to detail
Job Reference #: 5000438065406