Account Fraud Investigator

MSU Federal Credit Union; East Lansing (MI); Hybrid; USD 55,000 - 70,000; Full time

Benefits offered by this job

Health, Dental, Vision, Life, and Long

Volunteer Time Off

11 Paid Holidays

Job summary

MSU Federal Credit Union is seeking an Account Fraud Investigator I to review accounts and transactions for potential fraud across multiple channels. The role involves interviewing members, documenting investigations, and applying Regulations E and Z with KYC/CIP guidelines to mitigate risk.

You will work in a hybrid setting (onsite/1-2 days/week) at our East Lansing headquarters with a standard 40-hour schedule, supporting fraud prevention initiatives and member security.

Qualifications

• Performs fraud monitoring and risk mitigation for accounts and transactions.
• Interviews members and documents investigations in a timely, compliant manner.
• Applies regulatory requirements under Regulations E and Z and KYC/CIP guidelines.

Responsibilities

• Review accounts for fraudulent activity across bill pay, checks, ACH, and wires.
• Investigate fraud claims and potential losses; restrict activity as needed.
• Educate members on fraud prevention and safe banking practices.
• Document investigations and communicate findings to team and management.
• Collaborate with service areas to address emerging fraud trends.

Skills

Communication

Digital literacy

Time management

Initiative

Superior service

Critical thinking

Detail orientation

Change management

Teamwork

Education

High school diploma or equivalent

Bachelor’s degree preferred

Job description

The Fraud Prevention Department supports the Credit Union through fraud monitoring and risk mitigation. Account Fraud Investigators will review accounts and transactions through various channels, such as bill pay, check, ACH and wires to identify fraudulent activity and mitigate loss to the Credit Union and our members. New account opening, loan originations, remote activity (access and deposits) and other transactional activity are monitored and actioned to ensure members’ 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) 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.

• 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

Review applications, access points, accounts, and transactions for fraudulent activity and take appropriate action, such as restricting account activity, to prevent fraud losses and recover funds.

• Investigate fraud claims or potential losses incurred from check, ACH, bill pay, wire, M2M and other non-card payment channels and in accordance with laws, regulations, policies and procedures.
• Interview members promptly and professionally over the phone, or through the Credit Union’s messaging systems when working on fraudulent or potentially fraudulent account activity.
• Provide account fraud expertise to service area employees in reviewing and taking action on potentially fraudulent activity.
• Educate and advise members in making informed decisions about their account and personal identification information, including security, reporting and arrangements for resolving negative balances that result from fraud.
• 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.
• Leverage knowledge from investigations to develop awareness and communicate understanding of emerging fraud trends in support of fraud mitigation strategies.
• Accurately document and report all account review efforts, contacts with members and actions taken in a thorough and timely manner to ensure updated information is available to member serving and other employees and for management escalation.
• 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.

Job Requirements:

Level I

• High school diploma or equivalent is 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.
• Core Competencies that must be demonstrated by all Credit Union employees include Communicate, Navigate Change & Evolve, Solve Problems & Make Decisions, Plan, Prioritize, and Achieve, and Collaborate. Review the corresponding behaviors here .
• 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-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.

Qualifications

Education

Required

High School or better.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws.For further information, please review the Know Your Rights notice from the Department of Labor.