Fraud Analyst (Identity & Authentication Specialist)

VRS Virginia Retirement System; Virginia (MN); Hybrid; USD 79,000 - 85,000; Full time

Job summary

Virginia Retirement System is seeking a Fraud Analyst to support detection, investigation, and mitigation of fraud schemes targeting retirees. The role emphasizes identity verification of callers and real-time authentication during service interactions, with an emphasis on safeguarding stakeholders.

The analyst will independently manage fraud cases from initiation to resolution, serve as a backup for the fraud prevention team, and collaborate with the CCT, IT tools like Splunk, and MS Office to

Qualifications

• Degree in a closely related field; equivalent education/experience considered.
• Minimum of three years of fraud investigations experience in financial/pension settings.
• Strong knowledge of identity verification techniques and fraud trends.
• Experience using data to perform root cause analysis and trend research.
• Experience leading meetings in-person or by video.

Responsibilities

• Interact with retirees and VRS staff during investigations.
• Identify and verify true identities during real-time calls.
• Conduct fraud investigations including compliance activities.
• Create concise notes in customer accounts.
• Maintain investigation files and SharePoint knowledge.
• Participate in fraud prevention initiatives and training.

Skills

Identity verification

Fraud investigations

Data analysis

Communication skills

Education

Related degree

Tools

Splunk

Microsoft Office

Job description

The Fraud Analyst is responsible for providing support to agency-related fraud detection, investigation, prevention and mitigation. The incumbent will be responsible for independently managing fraud cases from initiation to resolution. The Fraud Analyst’s focus is identity and authentication of callers, to safeguard VRS stakeholders from fraud schemes and scam typologies. This role requires strong investigative skills, and knowledge of identity verification and authentication techniques; must have knowledge related to the sensitivity of financial crimes targeting vulnerable populations, including elderly people. This position must be able to resolve and document complex situations. This role will also serve as backup for fraud prevention team members to ensure continuity of coverage.

Essential Duties and Responsibilities

• Client-facing: Required to work directly with VRS employees and retirees.
• Communication channels will include phone conversations, video conferencing, and written correspondence.
• Accept internal warm transfers of calls “call-ready”, from the VRS Customer Contact Center employees; interact with agency customers (retirees) and other VRS colleagues as part of investigation processes.
• Perform all necessary steps to ascertain the true identity of entities who fail routine authentication; performed in real-time so VRS can complete service before the customer disconnects the call.
• Perform fraud investigations including all required compliance activities.
• Create notes within customer accounts that are concise and relevant.
• Utilize all available fraud investigation tools as part of the investigative process.
• Maintain investigative files including notes, final conclusions and actionable items.
• Maintain fraud team SharePoint site and document collaboration efforts.
• Join and attend relevant fraud support organizations such as International Association of Financial Crime Investigators (www.IAFCI.org).
• Adhere to all service delivery schedules for various tasks owed to colleagues.
• Create written communications (customer letters, compliance letters, internal communications).
• Function as backup coverage for fraud prevention team members to ensure continuity of coverage.

Minimum Qualifications

• Degree in closely related field, required; an equivalent combination of education and experience may also be considered
• Minimum of three consecutive years (in the last five years) of experience, conducting fraud investigations in a financial institution, or pension system
• Must have a strong knowledge of identity and authentication techniques, trends and practices; including fraud techniques and scam typologies
• Previous experience utilizing data and statistics to conduct root cause analysis and trend research
• Previous experience leading group meetings in-person or by video

Preferred Qualifications

• Intermediate proficiency with Microsoft Office products
• Experience with fraud prevention software such as Splunk, or similar software

Knowledge, Skills and Abilities

• Work simultaneous fraud investigations as required, including daily transactional tasks assigned by supervisor
• Complete tasks that require same-day resolution
• Complete assignments within established deadlines
• Excellent customer service skills
• Excellent verbal and written communication skills
• Follow established procedures; complete assignments within established deadlines; work well under pressure; conduct research; prioritize; manage time; and work independently with minimal supervision

Special Instructions

**VRS is unable to provide sponsorship**

This position is remote with the exception of required travel for business purposes; the incumbent must be able to work in the office any day of the week as required by the manager

Hiring Range: $78,575-$85,000

ABOUT US

The Virginia Retirement System (VRS0, an independent state agency based in Richmond, delivers retirement and other benefits to covered Virginia public sector employees through sound financial stewardship and superior customer service. VRS ranks as the 15th largest public or private pension fund in the U.S. and the 36th largest in the world, serving more than 861,000 active and inactive members, retirees and beneficiaries. Members include public school teachers, political subdivision employees (cities, towns, special authorities and commissions), state agency employees, public college and university personnel, state police, Virginia law officers and the judiciary. Approximately 864 employers participate in VRS.

Mission Statement

VRS delivers retirement and other benefits to Virginia public employees through sound financial stewardship and superior customer service.

Vision Statement

To be the trusted leader in the delivery of benefits and services to those we serve.

IMPORTANT NOTICES

VRS is unable to provide sponsorship at this time or any time in the future. VRS' current hybrid schedule includes onsite work Tuesday through Thursday and remote work on Monday and Friday. From time to time, employees may be asked and are expected to work onsite to support business needs.