Purpose: The Fraud Specialist is responsible for identifying and analyzing credit card fraud trends and administering the replacement of lost, stolen or compromised credit cards. Responsible for processing all bank card payments, credit balance refunds and balance transfer requests. Provides support for other risk areas, including collections support. Hours of operation are 8:00 a.m. until 5:00 p.m., Monday through Friday, in a normal office environment.
Essential Duties and Responsibilities:
- Handle all lost, stolen or compromised credit card accounts which includes maintenance, issuing and setting up new accounts, monitoring accounts and reports for trailing transactions to transfer and charging off the balance when closeout packets are received.
- Investigate and analyze the causes, methods and process of fraud activities and generate credit card fraud prevention and analysis reports.
- Work closely with the cardholder, customer bank, FIS, Visa, ICBA and law enforcement in resolving all fraudulent transaction disputes.
- Stay abreast of fraud trends; utilize tools to detect and minimize potential fraud without negatively impacting customer satisfaction.
- Monitor critical daily reports on credit balances, activity on blocked accounts and foreign transactions. If suspicious activity is recognized, research and determine validity of charges, which would include making outbound calls to customers.
- Process all bank card payments received through various methods, such as phone, the electronic reporting site and mail on a daily basis.
- Monitor and research the credit balance refund report, prepare the refund checks and mail to the customer.
- Responsible for the daily upload of bank card reports to the electronic reporting site, in addition to downloading of reports from processor.
- Provide back-up support for other positions in the department when needed.
- Responsible for maintenance on customer requests such as activation of cards, credit limit increases, deceased and divorce notifications, address changes, name changes and addition of cardholders.
- Promote strong teamwork with regular communication within the Bank Card team, BBOK teammates, and service partners, using appropriate methods depending on audience.
- Promote strong teamwork with regular communication within the Bank Card team, BBOK teammates, and service partners, using appropriate methods depending on audience.
- Suggest modifications to departmental procedures and processes; recommends improvements and automation of processes to increase efficiency and accuracy.
- Ensures compliance and audit requirements are met on all responsibilities assigned by adhering to payment network regulations, as well as federal rules and regulations. These regulations include but are not limited to the Truth in Lending Act, Electronic Funds Transfers Act and Gramm-Leach-Bliley Act (Financial Privacy and Safeguard Rules), Identity Theft/Red Flag Rules and Bank Secrecy Act.
- Other duties as assigned.
