Senior Deposit Fraud Specialist

GENERAL SUMMARY

Under some supervision, following established policies and procedures and using multiple bank systems and resources, the Senior Deposit Fraud Specialist is responsible for performing complex analysis and investigations related to potential losses and/or suspected fraud, and mitigating fraud losses and risk for the retail and digital deposit network.

ESSENTIAL FUNCTIONS

• Review, research, and analyze check fraud, internal and external electronic transfer fraud and unauthorized activity claims, including Reg E card claims, which may result in loss.
• Conduct in-depth investigations, including evaluating new and existing account activities, account relationships and customer profiles.
• Review high risk outgoing wire transfers for potential fraud; perform research and obtain wire validations from business units.
• Conduct analysis and research of new account reports and activity to assess levels of risk and to detect ID Theft and potential new account opening fraud.
• Assist branches with fraud transactions, check fraud claims, and loss recovery.
• Prepare and submit written communications and documentation, including breach of warranty, payment demands, and hold harmless and indemnity agreements for loss mitigation and recovery.
• Monitor daily returned deposited items for potential fraud, and related account transactions to identify unauthorized transactions and fraudulent activity, including account take-over and kiting.
• Maintain investigative notes, prepare investigative, incident and summary reports, and maintain tracking and reporting records of fraud cases and investigations.
• Communicate with other financial institutions, entities, individuals, or local, state, and federal law enforcement agencies to resolve incidents of fraud or potential fraud and to mitigate losses.
• Attend internal/external training courses and seminars as necessary to enhance and maintain job knowledge and skills.
• Maintain knowledge and understanding of Regulation E, Regulation CC and Uniform Commercial Codes, and Federal / State laws and regulations relating to bank fraud and compliance.

QUALIFICATIONS

• Education: Associate's degree preferred or equivalent banking experience in a related field required.
• Experience: Minimum of 6-8 years analyzing and investigating fraud and mitigating fraud losses in a financial institution. Good knowledge of Uniform Commercial Code (UCC), Regulation E and other state and federal regulations about financial fraud.
• Skills/Ability: PC proficient with strong analytical skills. Ability to communicate effectively and professionally verbally and in writing. Excellent organizational skills and ability to prioritize multiple assignments and to meet required timelines. Must show initiative, be self-motivated, flexible and adapt to changing priorities.

OTHER DETAILS

$32.21 - $35.10 / hour
Pay determined based on job-related knowledge, skills, experience, and location.
This position may be eligible for a discretionary bonus.

Cathay Bank offers its full-time employees a competitive benefits package which is a significant part of their total compensation. It is our goal to provide employees with a comprehensive benefits package to fit their needs which includes, coverage for medical insurance, dental insurance, vision insurance, life insurance, long-term disability insurance, and flexible spending accounts (FSAs), health saving account (HSA) with company contributions, voluntary coverages, and 401(k).

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Cathay Bank is an Equal Opportunity and Affirmative Action Employer. We believe in diversity, equity, and inclusion in the workplace. We welcome applications for employment from all qualified candidates, regardless of race, color, ethnicity, ancestry, citizenship, gender, national origin, religion, age, sex (including pregnancy and related medical conditions, childbirth and breastfeeding), reproductive health decision-making, sexual orientation, gender identity and expression, genetic information or characteristics, disability or medical condition, military status or status as a protected veteran, or any other status protected by applicable law.

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