Fraud Analyst

Allegacysmart; North Carolina; On-site; USD 60,000 - 85,000; Full time

Job summary

Allegacy is seeking a Fraud Analyst to review fraud alerts, assess activity, and escalate cases for deeper investigation. The role supports compliance efforts and communicates findings with internal teams.

Ideal candidates have strong analytical skills, knowledge of AML/KYC procedures, and experience with fraud detection tools. This position requires attention to detail and the ability to work in a fast-paced environment.

Qualifications

• Bachelor’s degree preferred, especially in Finance, Business, Criminal Justice, or a related field.
• Associate’s degree acceptable with 3–5 years of relevant fraud analysis experience.
• High School Diploma with 5+ years in financial services or fraud-related roles.

Responsibilities

• Review incoming fraud alerts and notifications to identify potential fraudulent activity.
• Conduct initial assessments of account activity and transaction patterns for escalation.
• Document findings and maintain organized records of reviewed cases and alerts.
• Escalate suspicious or confirmed fraud cases to Fraud Investigators or management.
• Research member accounts using internal systems to gather relevant information.
• Support fraud prevention by identifying trends and flagging recurring issues.
• Assist in compiling data for internal reporting and fraud-related metrics.
• Communicate effectively with internal departments to clarify case details.
• Maintain confidentiality and handle sensitive member information with discretion.
• Stay current on fraud detection practices and participate in training.

Skills

Financial systems understanding

AML/KYC procedures

Fraud detection

Compliance standards

Analytical skills

Office software

Written and verbal communication

multitasking

Integrity

Team collaboration

Education

Bachelor's degree preferred in Finance/Business/Criminal Justice

Associate's degree with 3–5 years experience

High School Diploma with 5+ years experience

Tools

Fraud detection tools

Case management systems

Financial software

Job description

Description

At Allegacy, our roots run deep — anchored in a longstanding commitment to doing right by our members and the communities we serve. Every role within our organization plays a vital part in nurturing the relationships that make that promise real. As a member of our team, you'll be empowered to live out our brand every day, building meaningful connections that support the financial wellbeing of those who count on us most.

To support the credit union’s efforts in minimizing financial losses and protecting members, this position is responsible for conducting initial reviews of fraud alerts and notifications received from internal systems, Financial Centers and other sources. The Fraud Analyst evaluates the validity and severity of potential fraud cases and escalates those requiring further investigation to the appropriate team. This role plays a critical part in early fraud detection and prevention by ensuring timely and accurate assessment of incoming fraud related activity.

Nature and Scope

This position is a fraud investigator role that reports to the Director of Account Management Services and works with other fraud personnel who report to the Director of Account Management Services and others who report to the SVP, Lending. This position is responsible for assisting in the investigation of suspected fraudulent activity affecting the Credit Union. This role involves reviewing incoming alerts and reports from fraud detection systems, Financial Centers, and other internal sources to identify potential fraudulent activity. The Fraud Analyst serves as the first line of defense by assessing the validity of suspicious transactions or behaviors and escalating cases to Fraud Investigators when further review is warranted. Responsibilities include gathering relevant documentation, supporting compliance efforts, and communicating findings with internal teams. The position requires strong attention to detail, sound judgment, and the ability to work both independently and collaboratively in a fast-paced environment.

Specific Accountabilities

• Review incoming fraud alerts and notifications from internal systems, Financial Centers, and other channels to identify potential fraudulent activity.
• Conduct initial assessments of account activity and transaction patterns to determine if further investigation is warranted.
• Accurately document findings and maintain organized records of reviewed cases and alerts.
• Escalate suspicious or confirmed fraud cases to Fraud Investigators or management for deeper review and action.
• Utilize internal systems and tools to research member accounts and gather relevant information for case evaluation.
• Support fraud prevention efforts by identifying trends and flagging recurring issues for further analysis.
• Assist in compiling data for internal reporting and tracking of fraud-related activity.
• Communicate effectively with internal departments to clarify case details or gather additional information.
• Maintain confidentiality and handle sensitive member information with discretion and professionalism.
• Stay current on fraud detection procedures, system updates, and emerging fraud trends through ongoing training.
• Participate in team meetings and contribute to process improvement discussions.
• Manage assigned tasks efficiently and meet deadlines with guidance from supervisors.
• Provide courteous and professional support to Financial Centers and other business units regarding fraud-related inquiries.
• Collaborate with team members to ensure consistent and accurate fraud review practices.

Requirements

Knowledge, Skills and Abilities

• Proficient understanding of financial systems, transactions, and account operations
• Familiarity with financial regulations including Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures
• Awareness of fraud trends, detection methods, and prevention strategies
• General understanding of compliance standards and regulatory reporting (e.g., SARs)
• Knowledge of internal fraud detection systems and alert workflows
• Strong analytical skills with attention to detail for reviewing alerts and identifying suspicious activity
• Proficient in using fraud detection tools, case management systems, and Microsoft Office applications
• Effective written and verbal communication skills for documenting findings and collaborating with internal teams
• Ability to manage multiple tasks and prioritize work in a fast-paced environment
• Skilled in identifying patterns and inconsistencies in account activity
• Capable of preparing clear summaries and documentation for escalation to investigators
• Strong interpersonal skills for working with Financial Centers and other departments
• Ability to handle sensitive information with discretion and maintain confidentiality
• High personal integrity and eligibility to be bonded
• Work independently and collaboratively within a team setting
• Respond professionally to inquiries from internal stakeholders regarding fraud alerts
• Escalate cases appropriately based on established criteria and procedures
• Stay current with fraud detection practices and system updates through ongoing training
• Contribute to process improvements and support team initiatives
• Maintain organized records and ensure timely completion of assigned reviews

Education and Experience

• Bachelor’s degree preferred, especially in Finance, Business, Criminal Justice, or a related field
• Associate’s degree acceptable with 3–5 years of relevant experience in fraud analysis, financial services, or customer service
• High School Diploma or equivalent with 5+ years of progressively responsible experience in a financial institution or fraud-related role
• Experience working in a financial institution or credit union environment is strongly preferred
• Prior experience in a customer service or operations role with exposure to fraud or risk-related tasks is beneficial
• Demonstrated ability to analyze account activity, identify suspicious patterns, and upscale appropriate
• Proven ability to manage multiple priorities, meet deadlines, and maintain accuracy under pressure
• Experience using fraud detection systems, case management tools, and financial software is a plus
• Ability to handle sensitive information with discretion and maintain a high level of integrity