Financial Fraud Analyst Team Lead

Position Title:

Financial Fraud Analyst Team Lead

FLSA Status:

Non-Exempt

Reports to:

Corporate Security and Fraud Prevention Officer

Job Summary: Role involves analyzing data, monitoring transactions, and scrutinizing discrepancies to detect and prevent fraud. The Fraud Analyst Team Lead helps develop strategies and systems to mitigate fraud risks when collaborating with departments such as finance, compliance, and security. The position demands a keen eye for detail, strong analytical abilities, and a proactive approach to addressing emerging fraud trends swiftly and effectively. Responsible for assisting the Fraud Prevention, Corporate Security Officer with compliance monitoring reviews and other special projects to measure and understand the state of regulatory compliance for the organization. Ensure that such compliance is handled in accordance with overall Bank business objectives, goals and regulatory requirements. Work with the Financial Fraud Team to develop their skills set, oversee their tasks, and assist with training.

Essential Functions:

• Analyzes transaction data and account activity to detect patterns or inconsistencies indicative of fraudulent behavior within Verafin.
• Monitors and investigates suspicious transactions, flagging potentially fraudulent accounts for further review in Verafin.
• Collaborates with front-line personnel, wire department, debit card department, and other teams to gather necessary information and resolve fraud cases.
• Develops and implements fraud detection strategies, tools, and systems to minimize risk exposure across the Bank.
• Conducts thorough investigations into suspected fraud, including reviewing documentation, conducting interviews, and coordinating with law enforcement when necessary.
• Compiles comprehensive reports on findings, trends, and patterns of fraudulent activity for senior management.
• Creates, reviews and updates fraud detection policies and procedures to ensure they remain effective and aligned with industry standards.
• Partners with third-party vendors, banks, and financial institutions to investigate and resolve fraud-related issues.
• Stays informed on industry trends, emerging fraud tactics, and regulatory changes to address and mitigate fraud risks proactively. Create reporting on these trends for senior management
• Assists in audits and compliance assessments to ensure adherence to fraud prevention and detection regulations.
• Assists the Corporate Security & Fraud Prevention Officer with approving timecards and paid time off requests.
• Develops, gathers, and tracks the team's performance using data and metrics to tell the story and show the value the team provides to the organization.
• Leads, coaches, mentors, and champions team members to grow in their careers.
• Clearly defines and communicates the prioritization of the day-to-day workload for the team.
• Ensures that the team's output meets data quality standards and coaches team members in this area as needed.
• Performs root cause analysis (RCA) following events and partner with key stakeholders to ensure necessary controls are in place.
• Leverages and enhances existing tools and processes to enable a more effective user-based threat detection and investigation program.
• Assists team with daily functions that include, Verafin fraud alerts, mobile deposits, ATM deposits, Positive Pay reports, affidavits, watch suspect list, large dollar review, and external transfers.
• Creates and monitors fraud case files for the team to ensure they are completed correctly and timely.
• Escalates complex cases to the BSA Team for SAIR review and filing.
• Responds to inquiries received from branch/department personnel bank-wide, clients, and non-clients, Corporate Security, and other financial institutions.
• Assists in the recovery of losses by determining actions to be taken to include without entry claim processing.
• Reviews evidence to conclude that an account must be closed or that suspicious activity does not represent a risk to the Bank.
• Investigates a wide variety of issues and requests to include gathering additional information, contacting other Bank departments and branch offices, and working with personnel at all levels.
• Assists management in achieving the Bank's fraud management goals by identifying and recognizing changing patterns and techniques utilized by fraud perpetrators and by taking appropriate action to mitigate Operational Losses Bank-wide.
• Reviews surveillance systems and extract photos/videos for use by the Bank and law enforcement personnel
• May prepare Fraud alerts/bulletins for internal notifications.
• Access Control provisioning and management.
• Maintains confidentiality of all sensitive Bank information.
• Maintains a positive and caring atmosphere for customers and employees consistent with Southside Bank's mission, CORE Values, and Blue Book culture guide.
• Provides enthusiastic, professional, and courteous service to Southside Bank customers and employees.
• Participates in proactive team efforts to achieve departmental and company goals.
• Understands and agrees to abide by the policies and procedures established at Southside Bank.
• Responsible for complying with audit policies and procedures as they pertain to this position.
• Performs duties in compliance with applicable laws and regulations, including but not limited to the Bank Secrecy Act (BSA) and related anti-money laundering laws, and in accordance with the Bank's Information Security Program. Must comply with all applicable laws and regulations.

Additional Functions:

• Performs routine duties with minimal supervision using standard practices or procedures to proceed alone at routine work; occasional work progress checked; work reviewed upon completion.
• Provides leadership to others through example and sharing of knowledge/skill.
• Complies with all safety policies, practices, and procedures. Report all unsafe activities to supervisor and/or Human Resources.
• Performs additional duties, as assigned or directed.

Required Education/Experience:

• High School Diploma or GED required.
• Minimum of five or more years of immediate experience working in a fraud department required.
• Experience in using Verafin software required.
• Knowledge of spreadsheet software and ability to use word processing software.

Necessary Skills:

• Ability to maintain confidential information with discretion.
• Effective organizational and time management skills.
• Ability to read and comprehend simple instructions, short correspondence, and memos.
• Ability to write simple correspondence.
• Ability to effectively present information in one-on-one and small group situations to customers, clients, and other employees of the organization.
• Ability to add, subtract multiply and divide in all units of measure, using whole numbers, common fractions, and decimals.
• Ability to compute rate, ratio, percent and to draw and interpret bar graphs.
• Ability to apply common sense understanding to carry out instructions furnished in written, oral or diagram form.
• Ability to deal with problems involving several concrete variables in standardized situations.
• Basic personal computer skills include electronic mail, word processing, spreadsheet, graphics, etc.
• Handle multiple tasks simultaneously.

Physical Activity/Dexterity:

• Light physical activity performing non-strenuous daily activities of an administrative nature.
• Manual dexterity is sufficient to reach/handle items and work with fingers. Works with fingers and perceives attributes of objects and materials.
• Ability to lift up to 10 pounds.

Physical Environment Demands:

• Must be able to remain in a stationary position 90% of the time.
• The person in this position needs to occasionally move about inside the office to visit other offices, conference rooms, office machinery, etc.
• Constantly operates a computer and other office productivity machinery, such as a calculator, copy machine, and telephone.
• Constantly positions self to operate on a computer.
• The person in this position frequently communicates with other people throughout each day. Must be able to exchange accurate information when conversing.

Working Conditions/Environment:

• Well-lighted, heated and/or air-conditioned indoor office setting with adequate ventilation.
• Moderate noise (e.g. business office with computers and printers, light traffic).

Work Schedule/Hours:

• Monday through Friday; 8:00am - 5:00pm.
• Available for overtime, as needed.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)