Fraud Officer

Central-Bancshares,-Inc.; Moline (IL); On-site; USD 90,000 - 120,000; Full time

Benefits offered by this job

Medical, dental, vision

401(k) retirement plan

Paid Time Off

Employee Assistance Program (EAP)

Training and development opportunities

Job summary

The Fraud Officer at Central-Bancshares, Inc. leads the bank’s fraud prevention, detection, investigation, reporting, and loss mitigation efforts across multiple channels, coordinating with Risk Management, Compliance, IT, and Operations.

The role serves as the primary contact for fraud matters, develops procedures, analyzes activity, and prepares risk assessments and control recommendations for management and audits. Strong collaboration and communication are essential.

Qualifications

• Bachelor’s or associate’s degree with five years of related banking, fraud, operations, BSA/AML, compliance, investigations, or risk management experience.
• Community bank experience in deposit ops, electronic banking, debit card disputes, ACH, wire transfers, check processing, new accounts, customer service, or branch ops.
• Working knowledge of fraud, electronic funds transfers, error resolution, SAR, OFAC, customer identification, elder exploitation, privacy, and information security requirements.
• Identify fraud red flags, analyze activity, document findings, and communicate clearly with mgmt and partners.
• Proficiency with core banking systems, fraud monitoring tools, case management resources, online banking platforms, and MS Office.
• CFE, CAMS, AAP, or similar certification preferred.
• Strong oral, written, interpersonal, analytical, organizational, and time management skills.
• Ability to manage sensitive information with sound judgment and discretion.

Responsibilities

• Develops and maintains fraud-related procedures, controls, and workflows.
• Serves as central contact for fraud matters involving ACH, wire, debit card, check, digital banking, and more.
• Reviews and investigates suspected fraud by analyzing account activity, transactions, docs, alerts, and customer data.
• Coordinates customer fraud claims, dispute investigations, provisional credit requirements, loss recovery, and required documentation.
• Partners with the BSA Officer on SAR documentation and escalation of BSA/AML concerns.
• Cross-trains with BSA/AML Officer to provide mutual support.
• Supports wire, ACH, OFAC, account restriction, exception, and fraud-related controls.
• Tracks fraud cases, trends, losses, recovery activity, and law enforcement requests.
• Prepares fraud reports, risk input, and control recommendations for mgmt, audits, and exams.
• Works with units and vendors to evaluate monitoring tools, alert parameters, and authentication practices.
• Provides fraud awareness training on red flags and escalation procedures.
• Performs other duties as assigned.

Skills

Fraud detection

Risk management

Investigation

Communication

BSA/AML knowledge

Reporting

Microsoft Office

Education

Bachelor’s or Associate’s degree in business/finance/accounting/criminal justice/info systems

Tools

Fraud monitoring tools

Core banking systems

Case management systems

Online banking platforms

Job description

Description

Job Summary

The Fraud Officer leads the Bank’s fraud prevention, detection, investigation, reporting, and loss mitigation efforts. This role serves as the primary contact for fraud matters across deposit operations, digital banking, debit card, ACH, wire transfer, check, new account, elder exploitation, and related fraud channels. The Fraud Officer works with Risk Management, BSA/AML, Compliance, Operations, Retail Banking, Information Technology, Accounting, and management to identify fraud trends, strengthen controls, support regulatory reporting, reduce losses, and protect customers and the Bank.

Essential Duties & Responsibilities

1. Develops and maintains fraud-related procedures, controls, and workflows.
2. Serves as the Bank’s central contact for fraud matters involving ACH, wire, debit card, check, digital banking, new accounts, identity theft, elder exploitation, and related activity.
3. Reviews and investigates suspected fraud by analyzing account activity, transaction patterns, documentation, system alerts, and customer information.
4. Coordinates customer fraud claims, dispute investigations, provisional credit requirements, loss recovery, and required documentation.
5. Partners with the BSA Officer on fraud-related suspicious activity reviews, SAR documentation, and escalation of BSA/AML concerns.
6. Cross-trains with BSA/AML Officer to provide mutual support as operational needs and opportunities arise.
7. Supports wire, ACH, OFAC, account restriction, exception, and fraud-related operational controls.
8. Tracks fraud cases, trends, losses, recovery activity, control gaps, subpoenas, restitution matters, and law enforcement requests.
9. Prepares fraud reports, risk assessment input, and control recommendations for management, committees, audits, and examinations.
10. Works with business units and vendors to evaluate monitoring tools, alert parameters, authentication practices, and fraud prevention controls.
11. Provides fraud awareness guidance and training on red flags, escalation procedures, account actions, and customer communications.
12. Performs other duties, projects, and responsibilities as assigned.

Requirements

Qualifications

• Bachelor’s or Associate’s degree in business, finance, accounting, criminal justice, information systems, or related field; five years of related banking, fraud, operations, BSA/AML, compliance, investigations, or risk management experience; or equivalent education and experience.
• Community bank or financial institution experience preferred, including deposit operations, electronic banking, debit card disputes, ACH, wire transfers, check processing, new accounts, customer service, or branch operations.
• Working knowledge of fraud, electronic fund transfers, error resolution, SAR, OFAC, customer identification, elder exploitation, privacy, and information security requirements.
• Ability to identify fraud red flags, analyze transaction activity, document findings, recommend account actions, and communicate clearly with management and business partners.
• Proficiency with core banking systems, fraud monitoring tools, case management resources, online banking platforms, Microsoft Office, spreadsheets, and reporting preferred.
• CFE, CAMS, AAP, or similar certification preferred.
• Strong oral, written, interpersonal, analytical, organizational, and time management skills.
• Ability to manage sensitive information with sound judgment, discretion, and professionalism.
• Ability to manage multiple investigations, meet deadlines, work independently, and collaborate across departments.

Employee Benefits

In addition to competitive compensation, we offer a rewarding incentive program and a comprehensive benefits package. Full-time and part-time associates are eligible for a wide range of benefits, including medical, dental, vision, and more.

• competitive compensation
• rewarding incentive program
• comprehensive benefits package
• Paid Time Off (PTO)
• a 401(k)-retirement savings plan
• an Employee Assistance Program (EAP)
• ongoing training and development opportunities
• medical, dental, vision, and more

We are an Equal Opportunity Employer committed to fostering an inclusive workplace. We do not discriminate against applicants or employees on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, age (40 or older), disability, veteran or military status, genetic information, or any other characteristic protected by applicable federal, state, or local law.