Anti-Fraud Operations Analyst

Role Description

Within the Business Control Department America’s Division – Anti Fraud Operations ("BCDAD Anti-Fraud Operations") is responsible for the first-level disposition of potential fraud transaction screening. The team monitors corporate bank accounts, financial transactions, money transfer (CHIPS, FED, SWIFT and ACH) historical activity, Cash Management Services (CMS) account records, and other financial data to analyze identify potentially fraudulent activity. In addition, the team supports the maintenance of NICE Actimize Integrated Fraud Management (IFM-X) solution transaction policy rules and scoring to improve efficiency and effectiveness of the system. The Analyst follows established guidelines and procedures to identify and resolve problems and alerts. Individuals are expected to contribute to workflow, process change redesign, and to form a strong basic understanding of the specific process. The position will not typically have a formal management role.

The Analyst’s primary focus is on execution within defined policies and procedures guidelines, with some expansion based on developing capabilities and experiences, in partnership with more experienced staff. He/she may act as a subject matter expert (SME) in projects relating to tools utilized by the team. The position may lead a working group and train others or be an independent contributor. This position provides a first and second-level review on fraud related transactions. The team member may be involved in formulating metrics, drafting training materials and procedures, perform quality control assessments, briefing findings, conducting tests in the UAT/REL environment, and escalating issues involving complex transactions to next level of management.

Responsibilities

• The analyst is responsible to monitor bank accounts, financial transactions, money transfer (CHIPS, FED, SWIFT and ACH) historical activity, CMS account activity, and other financial data to identify any potentially fraudulent activity. The analyst will analyze the day-to-day transaction flow of Wires and ACH’s for fraudulent activity.
• Research of prior payment history to ascertain if new transactions are low risk. Maintain requisite system access and permissions in the performance of transactional research duties.
• Disposition of fraudulent alert transactions within the NICE Actimize IFM-X software based on a scoring and rules-based model. Conduct further escalation when required, and canceling transactions from further processing when identifying fraud; approving transactions confirmed non-fraud after completing account research or customer confirmation.
• Work with internal bank departments to place some alerted transactions into repair or Reject/Cancel protocols when errors are discovered in various payment fields.
• Interact with bank relationship managers, internal departments, and customers via recorded call-backs to validate information to properly disposition alerts. Utilize an updated anti-fraud script designed to ascertain how remittance change instructions were received by the customer. Document key interactions with entities in the NICE Actimize IFM-X software.
• Provides first or second-level review (4-eye review) and due diligence on transactions pertaining to fraud alerts. Record decision-making on all alerted transactions referred for manual review.
• Escalate confirmed fraud events to 1st line of defense personnel (Anti-Fraud Governance) including senior management, and other bank entities.  
• Conduct end-of-day reporting for operations and routinely track report reconciliation between CMS and Actimize.
• Document ongoing system performance and anomalies discovered after significant change management or during normal operations.
• Employee will recommend changes to Anti-Fraud Operations procedures manual and local job aid, assist in the preparation of training materials, and perform control assessments.

Qualifications and Skills

• 0 to 2 years’ work experience in Financial Services, Compliance, Payment System or Money Transfer preferred.
• BA/BS (or equivalent experience)
• Association of Certified Fraud Examiners (ACFE) or equivalent certifications preferred.
• Basic knowledge of fraud.
• Experience and knowledge of Actimize IFM-X is a plus.
• Functional level knowledge of banking policies, statutory and compliance regulations.
• Sense of urgency, accuracy, and accountability; responsive to time-sensitive needs.
• Flexibility to meet the demands of a constantly changing environment.
• Strong data analytical skills and the ability to make conclusions based on findings.
• Good attention to detail; will need to examine transaction data and records to detect and trace fraudulent activity.
• Solid interpersonal skills, and ability to make formal presentations.
• Experience working with Powerpoint, and Microsoft Outlook/Teams.
• Routine use of Excel spreadsheets including familiarity with formulas, calculations, and formatting. Experience with VLOOKUP, pie charts, and pivot tables is a plus. 

Additional Requirements