Fraud Specialist

CORE VALUES: Park State Bank’s Core values are GROWTH, TEAMWORK, RESPONSIVE, TRANSPARENT, And INNOVATIVE. We endeavor to live by these values in all that we do!

MISSION: The mission of Park State Bank is to deliver exceptional client service, strategic banking solutions and a community-friendly experience.

POSITION SUMMARY:  The Fraud Specialist will play a critical role in safeguarding our organization and clients against fraudulent activities by implementing effective fraud management processes and procedures. This role involves monitoring transactions, investigating suspicious activities, and collaborating with cross-functional teams to protect the bank and our customers. The ideal candidate will have a keen eye for detecting anomalies, strong verbal, written and analytical skills, coordination between departments, and a commitment to maintaining the highest level of security for our customers and the organization.

PRIMARY RESPONSIBILITIES AND ACCOUNTABILITIES:

1.      Strategy and Development: Design and implement comprehensive fraud prevention strategies and frameworks. Develop policies and procedures that minimize fraud risk and align with industry best practices.

1. Fraud Detection: Monitor and analyze transactions, customer accounts, and financial activities to identify and detect potential fraudulent behavior.
2. Investigation: Conduct thorough investigations of suspicious activities, including researching transaction histories and customer profiles to determine the validity of claims.
3. Reporting: Prepare and submit detailed reports on suspected fraudulent activities and findings, documenting investigation results and recommendations.
4. Communication: Collaborate with internal teams, including Retail, Compliance/BSA, Deposit Operations, and IT to share information and coordinate fraud prevention efforts.
5. Compliance: Ensure strict adherence to all relevant laws, regulations, and industry best practices related to fraud investigation and prevention.
6. Evidence Collection: Maintain a secure and organized system for storing evidence and documentation related to fraud cases.
7. Training and Awareness Education: Provide guidance and support to staff and customers with regard to identifying and responding to fraudulent activities to relay security best practices to protect clients and their personal information.
8. Continuous Improvement: Stay updated on emerging fraud trends and techniques, and recommend improvements to fraud prevention measures.

ROLE QUALIFICATIONS:

Education

·        Preferred: 2- or 4- year accounting or business degree is preferred

·        Preferred: Certified Fraud Specialist (CFS)

Experience

• Minimum 3 years of experience in financial services with previous experience in fraud prevention, detection or investigation strongly preferred.

Other Skills and Abilities:

• Demonstration of strong analytical and critical thinking skills.
• Attention to detail and ability to work independently
• Knowledge of relevant fraud detection tools and software
• Familiarity with banking regulations and security protocols

·        Polished with strong communication, written and listening skills

• Ability to maintain confidentiality and manage sensitive information.
• Resourceful, well organized and ability to multitask

PERFORMANCE MEASURES:

·        Timely execution of Rocks, To-Dos, active participation in L10 meetings

·        Demonstration of Core Values

·        Fraud Loss Volume

·        Audit Performance

WORKING CONDITIONS:

Work is performed largely within the Bank with limited chance for personal injury. Prolonged and frequent mental and visual concentration required. Periodic stressful situations in response to multiple priorities within established deadlines. Work hours are generally during normal business hours. Unscheduled evening and weekend work may be needed to meet the needs of customers and employees. Occasional travel between offices and out-of-town/overnight business travel required. Must be able to lift and move up to 20 pounds of office supplies and equipment. Some bending, turning, and twisting required. Serves as a representative of the Bank at appropriate functions.

GENERAL NOTICE:

This position description describes the general nature and level of work performed by the employee assigned to this position and should not be interpreted as all inclusive. It does not state or imply that these are the only duties and responsibilities assigned to the position. The employee may be required to perform other job-related duties. All requirements are subject to change and to possible modification to reasonably accommodate individuals with a disability. 

This position description does not constitute an employment agreement between the Bank and employee and is subject to change by the employer as the needs of the Bank and requirements of the position change.