Senior Fraud Investigator

OH0713 NW Bancshares HQ

Job Description

This Senior Fraud Investigator is responsible for detecting, investigating, and resolving suspected internal and external fraudulent activity, including check fraud, ACH fraud, wire fraud, account takeover incidents, elder exploitation, and other financial crimes reported by customers or identified through internal monitoring systems.

The Senior Fraud Investigator plays a critical role in minimizing financial losses by conducting thorough investigations, identifying fraud patterns, and executing effective loss mitigation and recovery strategies. This position also involves handling more complex investigations and supporting leadership in refining procedures and identifying operational gaps to improve fraud detection and response efficiency. Collaboration with internal departments such as AML/CFT, Enterprise Risk Management, and Compliance is essential, and coordination with law enforcement and regulatory agencies may be required. Investigators are expected to complete cases in alignment with established closure and quality metrics, while reporting investigative findings to help identify potential operational or compliance risks.

Essential Functions

Investigate suspected fraudulent transactions including more complex incidents of Employee fraud, fraud rings, check fraud, wire fraud, ACH fraud, debit/credit card fraud, identity theft, elder financial abuse, account takeover, and synthetic identity fraud.

Investigate suspected fraudulent activity using Verafin’s case management system to review and resolve fraud cases using independent judgement, document investigative findings, and track case progress through resolution.

Analyze transactional data, and identify patterns, trends, and anomalies.

Serve as a primary liaison to bank employees, offering guidance and expertise in handling fraudulent activity.

Perform fact-finding investigations and be the subject matter expert in a wide range of issues, including fraud, potential violations of bank policies, industry regulations, and applicable civil or criminal laws.

Initiate and respond to phone calls and written correspondence from account holders, bank personnel, and external organizations regarding suspicious activity or policy violations.

Conduct in-person and phone interviews with customers, employees, suspects, witnesses, and victims to gather relevant information.

Lead recovery efforts for financial losses by placing claims on assets, filing criminal charges, and collaborating with the Legal Department on civil matters.

Apply recovery processes under the Uniform Commercial Code (UCC), including breach of warranties and return item procedures.

Execute Hold Harmless agreements and manage associated documentation to support fraud recovery efforts.

Maintain up-to-date knowledge of regulatory frameworks and industry best practices related to fraud recovery and financial crime investigations. (Example: NACHA, etc.)

Identify control gaps and recommend enhancements to reduce exposure to future fraud losses.

Compose detailed and well-structured narratives of fraud events ensuring clarity, completeness, and relevance, while maintaining compliance with Bank Secrecy Act (BSA) and FinCEN reporting requirements.

Build and maintain relationships with law enforcement agencies and other external partners.

Prepare cases for potential criminal investigation and prosecution by federal, state, or local authorities.

Represent the bank in civil and criminal litigation related to fraud investigations.

Provide fraud-related training and awareness sessions to bank personnel and retail management.

Assist in developing trainings and ongoing formal and informal communication to entrench a risk management & fraud culture in the bank

Conduct research on applicable regulations to ensure sound decision-making

Assist leaders within Financial Crimes in developing and enhancing existing policies and procedures

Influence outcomes across stakeholders in all lines of defense with respect to the development of risk management principles, reaching consensus on integration and alignment, and continually identifying enhancements

Assist leaders within Financial Crimes with evaluating gaps and areas of improvement within business processes to ensure their alignment with Northwest’s risk management framework

Maintain a current awareness of the regulatory environment and emerging financial crimes that may impact Northwest’s products/services

Drive compliance with applicable regulatory and policy requirements

Apply sound ethical judgment regarding personal behavior, conduct and business practices, and escalate, manage, and report control issues to leaders within Financial Crimes with transparency

Additional Essential Functions

Ensure compliance with Northwest’s policies and procedures, and Federal/State regulations

Navigate Microsoft Office Software, computer applications, and software specific to the department in order to maximize technology tools and gain efficiency

Work as part of a team

Work with on-site equipment

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education

Bachelor's Degree Criminal Justice, Finance, Accounting, or related field

Work Experience

3 - 5 years Experience in fraud investigations within the banking or financial services industry

Additional Knowledge, Skills and Abilities

Ability to establish effective working relationships among team members and participate in solving problems and making decisions

Ability to present and express ideas and information clearly and concisely in a manner appropriate to the audience, whether oral or written

Ability to actively listen to what others are saying to achieve understanding, sharing information with others and facilitating the open exchange of ideas and information

Ability to establish courses of action for self to accomplish specific goals, develop and use tracking systems for monitoring own work progress, and effectively use resources such as time and information

Ability to make right decisions based on perceptive and analytical processes, practicing good judgment in gray areas

Proficiency in Verafin, including its case management and alerting features.

Knowledge of regulatory requirements including BSA/AML, OFAC, and FFIEC guidelines

Understanding payment fraud, fraud schemes, common scams, and conducting payment fraud investigations.

Strong analytical, problem-solving, and communication skills to investigate fraud cases

Ability to identify existing and potential problems, obtain and evaluate relevant information, identify possible causes of the problems, and suggest an alternative course of action including innovative or creative approaches

Ability to allocate and effectively use information, personnel, time, and other resources necessary for implementation of Northwest’s strategic plans

Ability to make decisions, render judgments, and take action on tasks within the scope of given authority in a timely fashion

Ability to develop, evaluate, and implement alternative courses of action, based on correct assumptions concerning resources and guidelines, and support decisions or recommendations with data or reasoning

Ability to present and express ideas and information effectively and concisely in an oral and/or written mode in a manner appropriate for the audience

Ability to listen and comprehend what others are saying and facilitate the open exchange of ideas and information

Ability to motivate and provide direction in the activities of others, appropriately assigning work and authority, in the accomplishment o