Fraud Review & Resolution Specialist

Position Title

Fraud Review & Resolution Specialist

Location

New York, NY 10018

Job Summary

Under direct supervision of the Fraud Review & Resolution Assistant Manager, the Fraud Review & Resolution Specialist manages fraud incidents and inquiries reported by various groups within the Bank. This level is responsible for routine operational and/or administrative work. Day-to-day actions are focused on administering defined procedures, analyses and report preparation.

Pay Range: $30.93 - $36.42

Pay Range: Local Minimum Wage - $0.00 - $0.00

Job Responsibilities:

Fraud Case Management & Documentation

• Review and respond to emails submitted to the Fraud Department; create and compile files on fraud incidents, ensuring incidents are adequately documented and the Fraud case management system is updated on a timely basis; responsible for the overall file maintenance.
• Close files ensuring all documentation is entered accurately, completely and timely for review; monitor recovery of funds and updates case management system upon receipt.

Investigation & Collaboration

• Collaborate with Bank Operations, Funds Transfer and Corporate Security on a daily basis to recover fraud losses and to obtain information pertinent to the investigation.
• Communicate and correspond with Private Client Groups (PCGs) in order to obtain documentation and information to complete the investigation.
• Escalate cases to Corporate Security for reporting purposes when necessary.

Client Reimbursement & Regulatory Compliance

• Prepares Write-off requests to reimburse clients for fraud-related losses and obtain appropriate management approval.
• Adheres to regulatory requirements pertaining to Regulation E, Regulation CC and Suspicious Activity Reporting (SAR).

Account Monitoring & Recovery

• Coordinate and follow up on compromised accounts.
• Monitor potential fraudulent bill payments inquiries when alerted.

ADDITIONAL ACCOUNTABILITIES

• Performs special projects, and additional duties and responsibilities as required.
• Must have experience in check fraud detection and escalation.
• Where applicable and when performing the responsibilities of the job, employees are accountable to maintain Sarbanes-Oxley compliance and adhere to internal control policies and procedures.

JOB REQUIREMENTS

Required Qualifications:

• High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent 
• 3 Years in a fraud related capacity

Job Competencies:

Technical Expertise

• Understanding of common fraud types (e.g., phishing, account takeover, social engineering, etc.).
• Understanding of common check fraud schemes, including but not limited to: forged checks, counterfeit checks, altered checks, check kiting, check washing, third-party fraud, RDC fraud, and fraudulent endorsements.
• Ability to identify fraud patterns and apply appropriate mitigation strategies.
• Familiarity with fraud detection systems and banking platforms.
• Understanding of various regulatory structures, Regulation CC, Uniformed Commercial Code articles 3 and 4, and Regulation E, Suspicious Activity Reporting (SAR).
• Understanding of fraud typologies and escalation protocols.
• Proficiency in Microsoft Office and fraud monitoring tools.
• Ability to navigate multiple systems quickly and accurately.
• Working knowledge of banking & payment systems.

Professional Skills

• Strong analytical and critical thinking skills.
• Clear and professional verbal and written communication.
• Ability to work under pressure and manage multiple priorities.
• Detail-oriented with a continuous improvement mindset.
• High level of integrity and confidentiality.

Flagstar is an Equal Opportunity Employer

Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information: Benefits | Flagstar Bank