Card Fraud Investigator

Position Summary:

The Fraud Prevention Department supports the Credit Union through fraud monitoring and risk mitigation. Card Fraud Investigators will review accounts and transactions to identify, process and resolve card fraud activity and mitigate exposure to the Credit Union and our members. Card transactional activity is monitored and actioned to ensure members' cards and funds are secure and that there is minimal risk of loss.

Work Arrangement: This position is able to work onsite, or hybrid (1-2 days/week) at our East Lansing Headquarters.

Schedule:

• This position requires working a standard 40 hour week during hours of operations
  
  
  
  • Monday - Thursday 8:30am - 6:30pm
  • Friday 8:30am - 7:00pm
  • Rotating Saturdays 8:00am-3:00pm
  
  
  
  
• Employees working a Saturday receive a consistent day off during the week to offset their hours
• Scheduled hours could change based on business need and future department growth.

An offer of employment with MSU Federal Credit Union and affiliates is contingent upon the agreed work arrangement (onsite/hybrid/remote) and work location. MSU Federal Credit Union may or may not be able to accommodate temporary or permanent changes to work arrangements or allow employment outside the city and/or state of residency in which the new hire resides at the time of offered employment.

Compensation & Benefits:

• This position starts at $19.50+/hour dependent on experience
• 100% Company-Paid Health, Dental, Vision, Life, and Long-Term Disability Premiums
• Up to 26 days of PTO within your first year, as well as Volunteer Time Off & 11 Paid Holidays
• 401(k) with a company match
• Tuition Reimbursement
• Up to 12 Weeks of Paid Parental Leave

Essential Duties and Responsibilities:

Level I

• Review accounts and transactions for fraudulent activity and take appropriate action, such as restricting account activity, to prevent losses and recover funds.
• Investigate and process card fraud and dispute claims accurately and timely by moving the charge off members' account, processing through the Visa Resolve Online (VROL) system, applying Visa dispute rules and chargeback regulations, while managing representment and pre-arbitration queues in compliance with laws, regulations, and internal policies.
• Interview members promptly and professionally over the phone, or through the Credit Union's messaging systems when working on fraudulent or potentially fraudulent activity.
• Provide card fraud and dispute expertise to service area employees in reviewing and taking action on potentially fraudulent activity.
• Monitor card fraud alerts and notices, taking appropriate action based on findings.
• Proactively solve member and employee complaints and issues using good judgement.
• Educate and advise members on safe card usage and fraud prevention practices.
• Handle escalated members' situations and take appropriate action to resolve them.
• Complete projects assigned by management that produce quality and action driven results within deadlines provided.
• Apply regulatory requirements under Regulations E and Z and perform due diligence in accordance with KYC/CIP guidelines when investigating fraud cases.
• Understand the Credit Union's policies and procedures to ensure compliance and accountability for managing operational risks. Adhere to established internal controls and procedures to safeguard assets, prevent fraud, and maintain the integrity of credit union operations.
• Perform other duties as assigned

Level II

• Make recommendations to update or implement fraud mitigation strategies to prevent further loss based on internal and industry fraud data and trends.
• Identify training opportunities and work with management to implement them.
• Analyze card fraud trends; develop, test, and implement fraud rules and controls.
• Evaluate the effectiveness of loss mitigation strategies and recommend or execute updates as approved by management.
• Handle complex card fraud and dispute investigations independently, with accurate and detailed reporting and within a proper response time.
• Execute Account Fraud responsibilities including incoming back-up calls for the pilot, investigations, and other support requests applying the Credit Union's fraud practices and strategies, and a baseline comprehensive understanding of fraud detection and investigation of account fraud situations.
• Review and manage accounts for new fraud types, points of compromise, and higher-risk transactional activity.

Senior Level

• Perform secondary reviews and approvals for all necessary Credit Union fraud investigations.
• Assume leadership responsibilities by overseeing daily departmental operations, assigning workload, monitoring team production, and serving as the primary point of contact for escalations and decisions and supporting team members when management is unavailable.
• Independently investigate and resolve any cases of fraud while compiling and presenting detailed findings, trends, and recommendations to support strategic decision making and fraud prevention initiatives.
• Train and/or educate others on fraud and Fraud Prevention operations.
• Update, create and present documents and processes for assigned duties and responsibilities.
• Represent Fraud Prevention in Credit Union or vendor partner initiatives.

Job Requirements:

Level I

• High school diploma or equivalent required.
• Bachelor's degree (or in pursuit of) in business, finance, criminal justice, or related area of study is preferred.
• Prior experience in the financial industry required.

Level II

• Prior experience in financial crimes required.
• One or more fraud or financial crimes certifications is preferred, such (i.e. Certified Fraud Examiner (CFE), Certified Financial Crimes Investigator (CFCI), etc.)

Senior Level

• Prior experience in fraud or similar roles from work at a large credit union or financial institution is required.
• Prior experience mentoring, training, or informally leading peers is required or completion or in pursuit of one of the Credit Union's leadership programs in lieu of experience.

Competencies:

• Core Competencies that must be demonstrated by all include Communicate, Navigate Change & Evolve, Solve Problems & Make Decisions, Plan, Prioritize, and Achieve, and Collaborate.
• Functional Competencies:
  
  
  
  • Digital Literacy
    
    
    
    • Adopts, effectively uses, and champions new technology. Understands and shares technological information used within the position.
    
    
    
    
  • Time Management
    
    
    
    • Manages time and resources to ensure that work is completed efficiently.
    
    
    
    
  • Initiative
    
    
    
    • Takes proactive and prompt action to accomplish work goals. Takes action to achieve results beyond requirements.
    
    
    
    
  • Superior Service
    
    
    
    • Prioritizes and acts on the needs of members and employees. Sets the tone and establishes rapport. Acknowledges and clarifies while committing and providing guidance. Summarizes and closes the interaction positively.
    
    
    
    
  • Critical Thinking
    
    
    
    • Takes outside knowledge into account while evaluating information.
    
    
    
    
  • Detail Orientation
    
    
    
    • Ensures information is complete and accurate. Adheres to processes as outlined. Follows up to ensure quality and completion of work.
    
    
    
    
  • Change Management
    
    
    
    • Adjusts thinking and behavior to resiliently face change, and uses experience to fuel growth. Enables the process of change and transition while helping others deal with its effects. Displays self-awareness of their personal reaction to change and regulates their response. Acts as a change champion, communicating the why behind the change and aligning with organizational direction.
    
    
    
    
  • Self Awareness
    
    
    
    • Self-reflects on behavior and how emotions affect others. Situationally modifies behavior to improve outcomes and build relationships. Knows, leverages, and displays strengths and vulnerabilities.
    
    
    
    
  • Teamwork
    
    
    
    • Works well with internal and cross-functional teams to achieve individual, team, department, and/or organizational goals. Values diverse perspectives and working with others to achieve the best outcome possible.
    
    
    
    
  
  
  
  

Physical Demands and Work Environment:

• May be required to remain in a stationary position for an extended period.
• Ability to operate standard office technology, equipment, and tools, which may include many hours of computer and phone usage.
• Occasionally needs to move about inside of an office area.
• Exposure to potentially hazardous conditions, i.e. robbery. Receives detailed instructions and procedures to be followed to minimize the exposure.
• This position can work in hybrid or onsite working arrangements.

Disclaimer:

• Please note this job description is not intended to be construed as an exhaustive list of all functions, responsibilities, skills, and abilities. Additional functions and requirements may be assigned by supervisors as deemed appropriate. This document does not represent a contract of employment, and MSU Federal Credit Union reserves the right to change this position description and/or assign tasks for the employee to perform, as MSUFCU may deem appropriate.
• MSUFCU is an affirmative-action, equal-opportunity employer.
• To perform this job successfully, an individual must be able to perform each essential job duty satisfactorily. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform essential job functions.