Fraud Investigator IV

Overview

To identify, review, investigate fraud activity, claims/cases and risk exposures from various delivery channels. Review transactional activities, internal/external inquiries, and perform investigations to protect Navy Federal and its members' financials and assets, and control and mitigate potential fraud loss. Ensure adherence to applicable federal and state laws, rules and regulations. Work is performed under general direction. Perform more complex/unusual tasks with moderate latitude and increased impact.

Responsibilities

• Investigate various types of transactions/activities/cases (e.g., ID Theft and Synthetic ID, Check Fraud, Account Takeover fraud) including reported or alleged loss of assets from various business channels
• Respond to inquiries using various communication venues (including inbound telephone calls) to provide explanation for action taken in response to a specific alert or case
• Communicate with internal and external customers on fraud and security issues, problem resolution, account information and investigations
• Collect evidence and related documentation via available systems and methods; ensure chain of evidence/documentation is maintained in accordance with federal and state laws, rules, regulations and Navy Federal's policies and procedures
• Review data gathered to substantiate/disqualify a loss claim or charge off, and escalate as needed
• Research public record databases to identify, analyze and verify information related to primary investigations, validation reviews, discrepancies associated with information provided, and assess potential fraud risk
• Create detailed reports of investigations to include actions taken and results
• Prepare and maintain data for analysis and reference
• Detect fraud trends, red flags and recommend preventive measures to business units and management
• Monitor timeline from identification/notification of fraudulent activity to closure, ensuring service level agreements and regulatory requirements are met
• Collaborate with other business units to gain an understanding of transactions, processes and procedures, their impact on other business units processes and procedures, and identify risk potential for fraudulent activity
• Identify risk exposure/fraud activity, and recommend restorative/control action (e.g., freezing accounts, contacting/alerting members or appropriate internal/external security/financial personnel, adding restrictions or fraud alerts or holds to members accounts)
• Determine if suspicious activities are caused by processing errors requiring corrections and/or recommending to management changes to business policies and/or processes to prevent reoccurrence
• Support projects related to fraud detection, prevention or root analysis
• Involved in driving continuous process improvement to increase member experience quality; reduce losses; minimize financial risk and maintain high operational efficiency
• Maintain knowledge of applicable federal and state laws, rules, regulations, and Navy Federal policies and procedures
• Lead training and development of junior-level staff, as needed
• Use subject matter expertise to identify and implement training enhancements
• Act as liaison between training team and fraud operations
• Performs other duties as assigned

• Expert knowledge of applicable federal and state laws, rules and regulations (e.g., Bank Secrecy Act, USA Patriot Act, and OFAC regulations)
• Expert knowledge of fraud trends and threats
• Advanced investigative interviewing skills
• Extensive experience in member/customer service, preferably in a financial institution or contact center
• Extensive experience in applying various analytical techniques used in determining and resolving fraud and identity theft in transactions and membership applications
• Extensive experience working with all levels of staff, management, stakeholders, vendors
• Expert skill managing multiple priorities independently and/or in a team environment to achieve goals
• Expert skill determining "Intent" and "No Intent" scenarios
• Expert skill in identifying and responding to Red Flags (e.g., Known Fraud Patterns, Check Image Details, Membership Specific Info, etc.)
• Expert skill assimilating information, analyzing facts, and developing logical conclusions
• Expert skill interpreting and synthesizing large amounts of information
• Expert skill exercising initiative and using good judgement to make sound decisions
• Expert skill identifying and analyzing business requirements and recommending solutions
• Expert organizational, planning and time management skills
• Expert investigative, research, analytical, and problem solving skills
• Expert skill following, interpreting, and applying relevant data/instructions to guidelines, procedures, practices, and regulations
• Expert active listening skills to accurately respond to inquiries and account requests
• Expert skill building relationships through rapport, trust, diplomacy and tact
• Expert skill to influence, negotiate, and persuade to reach agreeable exchange and positive outcomes
• Expert verbal and written communications skills
• Expert word processing, spreadsheet, and presentation software skills
• Bachelor's degree in Business Administration, Criminal Justice, Finance, or related field, or the equivalent combination of education, training, and experience

• Master's degree in Business Administration, Criminal Justice, Finance, or related field
• Working knowledge of cyber fraud tactics, techniques and procedures and cyber threat evaluation
• Familiarity with Navy Federal products, services, programs, policies, and procedures