Fraud Detection Specialist

Live Oak Bank; Wilmington (DE); On-site; USD 72,000 - 113,000; Full time

Job summary

Live Oak Bank in Wilmington, Delaware is hiring a Fraud Investigator to conduct comprehensive analyses of suspect reports, investigate events to resolution, and help minimize losses across deposits, loans, and online banking.

You will collaborate with Customer Success, Deposit Operations, Compliance, and law enforcement when needed, prepare SARs, and stay current on fraud trends while maintaining regulatory awareness.

Qualifications

• 3-5 years of experience in risk management, payment processing, fraud investigation, chargeback representation, or law enforcement.
• Must have working knowledge of fraud schemes, scams, and fraud systems.
• Knowledge of card processing, payment fraud prevention/detection techniques, and/or On-line Fraud Management.
• Excellent PC and technical proficiency in Microsoft Word, Excel, and PowerPoint.
• Strong analytic and problem-solving skills.

Responsibilities

• Track and document action taken in a timely and accurate manner.
• Open cases in the established case management system to include all records as defined by management.
• Conduct thorough investigations related to deposit accounts, loans, electronic transactions, wire transfers, check fraud, and other banking products.
• Review system-generated alerts to identify fraudulent activity related to ACH, debit and credit card, wire, digital banking, account openings, and other payment mechanisms.
• Determine action required to protect the Bank’s assets; work with management on handling more complex cases as required.
• Identify potential fraudulent schemes through the research process for the engagement of law enforcement personnel.
• Work closely with law enforcement and other financial institutions when necessary.
• Monitor consumer transaction and account activity for potentially fraudulent activity, including identity theft, account takeover, ACH, Check, Wire, loan, and other identified risks.
• Communicate professionally with customers, financial institutions, and other Bank personnel to resolve problems or request additional information and/or documentation to support a decision on whether fraudulent activity has occurred.
• Prepare and submit SARs in compliance with FinCEN regulations.
• Remain current on national and global fraud trends to incorporate into daily activities as appropriate.
• Work with Fraud Analytics to monitor existing fraud models/strategies and ensure they meet false-positive and detection rate criteria.
• Explain variances and recommend remedial actions.
• Assist in the implementation of new fraud strategies to mitigate fraud losses associated with online banking activity.
• Maintain a high standard of regulatory awareness including BSA, AML, CIP, and OFAC

Skills

Fraud investigation

Risk management

Payment processing

Data analysis

Regulatory awareness

Education

Bachelor’s degree

CAMS

CFE

Tools

Microsoft Word

Excel

PowerPoint

Job description

Live Oak Bank in Wilmington, Delaware is hiring a Fraud Investigator to conduct comprehensive analyses of suspect reports, investigate events to resolution, and help minimize losses across deposits, loans, and online banking.

You will collaborate with Customer Success, Deposit Operations, Compliance, and law enforcement when needed, prepare SARs, and stay current on fraud trends while maintaining regulatory awareness.