Fraud Analyst

FirstOntario Credit Union; Hamilton; Hybrid; CAD 50,000 - 80,000; Full time

Job summary

An established industry player is seeking a detail-oriented Fraud Analyst to join their dynamic team. In this pivotal role, you will monitor daily activities, investigate potential fraud, and collaborate with various stakeholders to enhance fraud detection processes. This permanent hybrid position offers a competitive compensation package and a supportive work environment that values diversity and inclusion. If you are passionate about making a difference in fraud prevention and enjoy working in a collaborative setting, this opportunity is perfect for you.

Benefits

Competitive compensation packages

Top-tier health and wellness benefits

Pension Plan

Flex-work environment

Employee Volunteer program

Employee and Family Assistance Program

Professional development funding

Qualifications

• 1-3 years of fraud experience preferred.
• Knowledge of fraud detection rules and systems is an asset.

Responsibilities

• Monitor and investigate daily reports for potential fraud activities.
• Collaborate with internal and external stakeholders on investigations.

Skills

Fraud Detection

Data Analytics

Investigative Skills

Communication Skills

Report Writing

Time Management

Education

Post-secondary degree in business or related field

Tools

Temenos Banking System

Verafin Technology

Job description

Why FirstOntario?

• Competitive compensation packages
• Top-tier health and wellness benefits, including comprehensive benefits packages and a health spending account
• Enhanced mental health benefits through SunLife and TELUS Health
• Exclusive banking benefits
• Up to $1000 per year towards professional development
• Pension Plan
• Flex-work environment
• Company-wide Employee Volunteer program (Blue Wave Program)
• Employee and Family Assistance Program

Job Overview

The Fraud Analyst is responsible for monitoring daily activities to ensure compliance with fraud rules, processes, and alerts, aiding in the detection of potential fraud activities.

Role

1. Monitor and investigate daily/weekly reports such as FAS, EFM, TransUnion, Verafin, and other supporting reports by reviewing alerts and taking necessary actions to block fraudulent attempts.
2. Investigate e-transfer reports daily.
3. Use various reporting tools to monitor for fraud across different business channels.
4. Investigate cases of unusual activity and determine if an Unusual Transaction Report (UTR) should be escalated to the AML team within established timelines using Verafin case management.
5. Support media scanning activities and investigate findings where applicable.
6. Complete information requests, e.g., Production Orders and CRA requests.
7. Assist in creating and developing fraud processes and procedures for new products.
8. Maintain fraud reference materials on the employee portal.
9. Support fraud investigations to mitigate risks to FCU and its partners.
10. Collaborate on investigation activities, sharing insights with team members and partners.
11. Build effective relationships with internal and external stakeholders.
12. Serve as the point of contact for external partner Collabria regarding credit card fraud.
13. Support the Fraud Manager with projects and assignments.
14. Participate in relevant training to stay updated on regulations and processes.
15. Stay informed about fraud trends and scams targeting FCU and its members, applying industry best practices to reduce risk.
16. Promote a risk-aware culture and ensure compliance with regulations and operational policies.
17. Perform other duties as required.

Required Skills

• Post-secondary degree in business or related field and/or 1-3 years of fraud experience.
• Knowledge of fraud detection rules and systems is an asset.
• Familiarity with Temenos banking system and Verafin technology is an asset.
• Ability to identify unusual transaction indicators and fraud typologies through investigative skills.
• Professional and respectful communication skills.
• Ability to handle complex and confidential issues efficiently.
• Experience with data analytics, report writing, and presenting findings confidently.
• Ability to manage multiple priorities effectively.

Additional Information

This is a permanent hybrid position requiring in-office presence once or twice weekly, to be discussed during the interview.

We encourage applicants who may not meet every requirement to apply. We value diverse backgrounds and perspectives, and inclusion, diversity, and equity are integral to our success.

Our inclusive environment supports accessibility. Please inform us if accommodations are needed during the recruitment process.