Fraud Specialist I - Alert Reviewer

This position is a part of Fraud Management Department, a team that is integral to TowneBank’ s efforts in the fight against money laundering and fraud. The Fraud Department assists the Bank’s businesses to prevent, identify, and report check and deposit fraud through processes implemented to protect the Bank and its members. The Fraud investigations team works to support the branches and other lines of business in the investigation of fraudulent and suspicious activity.

The Fraud Specialist I’s primary objective is to review anomalous activity identified through manual processes, internal referrals, and system-generated alerts to identify suspicious check and deposit fraud activity. Specifically, the Fraud Specialist is responsible for dispositioning alerts, positive pay payment decisions for internal bank accounts, reviewing bill payment exceptions (level 2), on-us signature verification, and escalating fraudulent activity to Fraud Case Reviewers. Fraud Specialists partner closely with the Bank’s branch network by providing assistance via phone or email.

The good-faith compensation range for this role is expected to be $41,000.00 to $50,000.00 annually based on the role, market, internal equity, and candidate qualifications.

Essential Responsibilities:

• Review Check and Deposit Fraud alerts generated from the Bank’s transaction monitoring system; determine when alerts should be waived or escalated to a case for further investigation.


• Conclude alert reviews by using department procedures for documentation.


• Open cases for fraud investigator when alert results in positive fraud notification.


• Review and process payment decisions on 3rd party application for “positive pay accounts” (internal cashiers checking accounts).


• Perform on-us signature verification including HELOC checks.


• Verify Checkfree bill payment transactions.


• Notify Branch Management regarding suggested deposit holds that should be placed or extended from previous business day activity.


• Notify members on suspected fraudulent activity or unusual activity. Assists branch personnel with next steps when fraud is identified.


• Assist branches and business units by requesting SAR Referrals regarding check/deposit fraud activity.


• Assist with branch support calls and emails to give guidance on check fraud.


• Perform other duties assigned, including assisting with Department projects as needed.


• Adheres to applicable federal laws, rules, and regulations including those related to Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA).

Minimum Required Skills & Competencies:

• 1-3 years banking experience with knowledge of branch operations


• Ability to comply with regulatory deadlines and work in a fast-paced environment


• Ability to handle confidential customer information


• Ability to work independently and possess a team player attitude


• Detailed oriented and has good organization skills


• Proficient in MS Office (Outlook, Excel, Word)


• Excellent written and verbal communication skills


• Knowledge of bank products and services


• Punctuality and attendance are a must

Desired Skills & Competencies:

• Demonstrated ability to identify fraudulent checks in a retail setting


• General knowledge of federal requirements under the Bank Secrecy Act and familiarity with FFIEC BSA/AML Manual guidelines


• Experience in a financial institution with asset size $10B and over

Physical Requirements:

• Express or exchange ideas by means of the spoken word via email and verbally.


• Exert up to 10 pounds of force occasionally, use your arms and legs, and sit most of the time.


• Have close visual acuity to perform activities such as analyzing data, viewing a computer terminal, reading, and preparing documentation.


• Not substantially exposed to adverse environmental conditions.


• The physical demands described here are representative of those that must be met by an employee to successfully perform the essential responsibilities of this job.  Reasonable accommodations may be made to enable individuals with disabilities to perform essential responsibilities.