Fraud Investigator

Summary

Fraud InvestigatorLive Oak Bank is a digital bank that serves small business owners across the country. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak, we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream.Completes comprehensive analyses on suspect reports or fraud alerts. Investigates suspicious events to resolution. Takes appropriate actions to prevent and/or minimize losses for Live Oak Bank and its customers. Fraud Investigator also works closely with Customer Success and Deposit Operations (re: Chargebacks, Disputes, and New Accounts), as well as Compliance officers and all other internal teams to mitigate risk.What You'll Do at Live OakTrack 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 managementConduct thorough investigations related to deposit accounts, loans, electronic transactions, wire transfers, check fraud, and other banking productsReview 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 requiredIdentify potential fraudulent schemes through the research process for the engagement of law enforcement personnelWork closely with law enforcement and other financial institutions when necessaryMonitor consumer transaction and account activity for potentially fraudulent activity, including identity theft, account takeover, ACH, Check, Wire, loan, and other identified risksCommunicate 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 occurredPrepare and submit SARs in compliance with FinCEN regulationsRemain current on national and global fraud trends to incorporate into daily activities as appropriateWork with Fraud Analytics to monitor existing fraud models/strategies and ensure they meet false-positive and detection rate criteriaExplain variances and recommend remedial actionsAssist in the implementation of new fraud strategies to mitigate fraud losses associated with online banking activityMaintain a high standard of regulatory awareness including BSA, AML, CIP, and OFACRequired Experience3 - 5 years of experience in risk management, payment processing, fraud investigation, chargeback representation, or law enforcementMust have working knowledge of fraud schemes, scams, and fraud systemsKnowledge of card processing, payment fraud prevention/detection techniques, and/or On-line Fraud ManagementExcellent PC and technical proficiency in Microsoft Word, Excel, and PowerPointStrong analytic and problem-solving skillsPreferred ExperienceBachelor's degreeProfessional Certifications (CAMS, CFE, etc...)Our ValuesDedication: Possess a deep commitment to Live Oak Bank's mission and core values, exemplified through a strong work ethic, adaptability and pride in your work.Ownership: Take initiative to deliver positive results by proactively and creatively solving problems, while maintaining a high degree of quality.Respect: Treat everyone with courtesy, politeness, and kindness.Innovation: Embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.Teamwork: Foster collaboration, accountability, and trust with others and understand that together, we do moreLive Oak Bank is an Affirmative Action and Equal Opportunity Employer, Minorities/Women/Veterans/Disabled. We consider applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, veteran status or disability. Equal access to programs, service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources.The base pay range for this position is $71,960.00 - $113,080.00 per year. Compensation may also include annual bonuses and long-term incentives, subject to various metrics and company policy. A candidate's salary is determined by several factors including relevant work experience or skills and expertise.

Job Description

Fraud InvestigatorLive Oak Bank is a digital bank that serves small business owners across the country. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak, we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream.Completes comprehensive analyses on suspect reports or fraud alerts. Investigates suspicious events to resolution. Takes appropriate actions to prevent and/or minimize losses for Live Oak Bank and its customers. Fraud Investigator also works closely with Customer Success and Deposit Operations (re: Chargebacks, Disputes, and New Accounts), as well as Compliance officers and all other internal teams to mitigate risk.What You'll Do at Live OakTrack 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 managementConduct thorough investigations related to deposit accounts, loans, electronic transactions, wire transfers, check fraud, and other banking productsReview 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 requiredIdentify potential fraudulent schemes through the research process for the engagement of law enforcement personnelWork closely with law enforcement and other financial institutions when necessaryMonitor consumer transaction and account activity for potentially fraudulent activity, including identity theft, account takeover, ACH, Check, Wire, loan, and other identified risksCommunicate 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 occurredPrepare and submit SARs in compliance with FinCEN regulationsRemain current on national and global fraud trends to incorporate into daily activities as appropriateWork with Fraud Analytics to monitor existing fraud models/strategies and ensure they meet false-positive and detection rate criteriaExplain variances and recommend remedial actionsAssist in the implementation of new fraud strategies to mitigate fraud losses associated with online banking activityMaintain a high standard of regulatory awareness including BSA, AML, CIP, and OFACRequired Experience3 - 5 years of experience in risk management, payment processing, fraud investigation, chargeback representation, or law enforcementMust have working knowledge of fraud schemes, scams, and fraud systemsKnowledge of card processing, payment fraud prevention/detection techniques, and/or On-line Fraud ManagementExcellent PC and technical proficiency in Microsoft Word, Excel, and PowerPointStrong analytic and problem-solving skillsPreferred ExperienceBachelor's degreeProfessional Certifications (CAMS, CFE, etc...)Our ValuesDedication: Possess a deep commitment to Live Oak Bank's mission and core values, exemplified through a strong work ethic, adaptability and pride in your work.Ownership: Take initiative to deliver positive results by proactively and creatively solving problems, while maintaining a high degree of quality.Respect: Treat everyone with courtesy, politeness, and kindness.Innovation: Embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.Teamwork: Foster collaboration, accountability, and trust with others and understand that together, we do moreLive Oak Bank is an Affirmative Action and Equal Opportunity Employer, Minorities/Women/Veterans/Disabled. We consider applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, veteran status or disability. Equal access to programs, service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources.The base pay range for this position is $71,960.00 - $113,080.00 per year. Compensation may also include annual bonuses and long-term incentives, subject to various metrics and company policy. A candidate's salary is determined by several factors including relevant work experience or skills and expertise.