Fraud Investigator - Boston, MA

Berkshire Bank; Boston (MA); On-site; USD 52,000 - 90,000; Full time

Job summary

Berkshire Bank is seeking a Fraud Investigator in the Risk Management division to handle all aspects of the fraud investigation process, including incident intake, case management, and regulatory reporting. The role also covers recoveries of funds lost to fraud.

Responsibilities include researching referrals, documenting judgments, collaborating with other institutions, and providing guidance on fraud prevention. Strong writing and confidentiality are essential, with exposure to SARs preferred.

Qualifications

• Minimum 3 years of experience in a fraud investigations role within a financial institution.
• Bachelor's degree or equivalent experience required.
• Certified Fraud Examiner (CFE) certification desirable.

Responsibilities

• Investigate fraud referrals/incidents and perform necessary research to minimize losses.
• Document judgments and rationale with strong writing.
• Create and maintain well-documented fraud cases.
• Collaborate with other financial institutions to recover funds and mitigate losses.
• Coordinate with other lines to ensure proper risk management and fraud controls.
• Escalate issues to Fraud Operations Manager or BSA Officer.
• Provide guidance on fraud detection to bank employees and management.
• Promote fraud prevention initiatives and awareness through projects and outreach.
• Maintain supporting documentation per bank standards and regulatory requirements.
• Uphold the integrity of fraud policies and controls.
• Provide advisory guidance on fraud techniques for internal and external clients.
• Identify fraud trends and report observations to management.
• Prepare investigative and regulatory reports (SARs preferred).
• Perform other duties as assigned.

Skills

Fraud investigations

SAR writing

Analytical skills

Communication skills

Confidentiality

Time management

Team collaboration

Writing skills

Education

Bachelor's degree or equivalent experience

CFE certification (desirable)

Tools

Microsoft Office

Job description

Division: Risk Management

Department: BSA/Fraud

Reports to: Fraud Investigations Manager

Status: Exempt

Grade: 9E

Pay Range: $52,000-$90,498

Actual compensation within the pay range will be determined based on factors including, but not limited to, skills, prior relevant experience, and specific work location.

Location: MA, NY, RI, CT

Purpose/Objective:

As a member of the Financial Intelligence Unit's Fraud Investigations Team, the incumbent is responsible for handling all aspects of the fraud investigation process - including incident intake, advising on best practices for remediation, case management, and completion of regulatory reports. The Fraud Investigator is also responsible for recoveries of funds lost to fraud.

Key Accountabilities:

• Investigate fraud referrals/incidents and perform necessary research; efficiently arriving at sound, risk-based conclusions in order to minimize fraud losses.
• Clearly document and support judgments, decisions and rationale, which will necessitate strong writing skills.
• Create and maintain well-documented fraud cases.
• Work with other financial institutions in order to promote recovery of fraudulent funds and mitigate losses.
• Collaborate with other business lines to ensure proper risk management and fraud controls are practiced.
• Escalate issues and situations requiring the attention of the Fraud Operations and Investigations Manager or BSA Officer.
• Provide support and guidance to bank employees and management relating to fraud detection and prevention measures.
• Promote fraud prevention initiatives and awareness through projects, process enhancements and outreach to business lines and personnel.
• Maintain supporting documentation in accordance with bank standards and regulatory requirements.
• Uphold the integrity of the Bank's fraud prevention policies, procedures, systems and controls.
• Provide advisory guidance in fraud techniques and best practices for both internal and external clientele.
• Identify fraud trends and communicate observations to management.
• Prepare investigative and regulatory reports (experience writing SARs preferred).
• Perform other duties as assigned.

Education:

• Bachelor's degree or equivalent experience required.
• Professional certification such as Certified Fraud Examiner (CFE) desirable.

Experience:

• Minimum three years of experience in a fraud investigations role within a financial institution or similar.

Skills & Knowledge:

• Familiarity with online account opening processes and best practices preferred.
• Sound, practical knowledge of fraud trends, methodologies and techniques.
• Comprehensive understanding of products, services and transaction processing channels within a financial institution.
• Strong analytical, research and investigative skills necessary.
• Ability to maintain high level of professionalism and confidentiality.
• Excellent prioritization, time management and multi-tasking skills.
• Exceptional quality and integrity of work produced within tight deadlines.
• Ability to function both independently and within collaborative team environments.
• Solid computer skills, including the use of Microsoft Office products.
• Excellent written and verbal communication skills.

Beacon Bank is an Equal Opportunity Employer - all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, or national origin. If you would like to contact us regarding the accessibility of our website, need assistance completing the application process, or would like to request alternative methods of applying, please contact us at [e-mail].