Risk Analyst – Fraud Prevention Expert
Do you have a sharp eye for spotting fraud? Are you a data-driven problem solver who thrives on safeguarding financial institutions? If so, we want you on our team!
At UNIFY Financial Credit Union, we’re looking for a Risk Analyst, who knows how to detect fraud before it happens. You’ll analyze transactions, investigate suspicious activity, and work with cutting-edge fraud detection tools to keep our members protected.

SUMMARY:

The Risk Analyst is responsible for identifying, analyzing, and mitigating a wide range of risks, with a strong emphasis on fraud detection and prevention. This role combines operational risk assessment and fraud mitigation efforts to safeguard the organization from financial losses caused by fraud, abuse, and negligence.
Notes: This role is not eligible for remote work. This role will work onsite daily from our Operations Center in Allen, TX.

QUALIFICATIONS, EXPERIENCE, & EDUCATION:

• High school diploma or equivalent required.
• Bachelor’s Degree in Business, Finance, Data Analytics, or a related field strongly preferred. Relevant work experience may be considered in lieu of a degree.
• Minimum of 3 years’ experience in Risk Management of Fraud within a financial institution, with a focus on fraud detection and mitigation.
• Familiarity with REG E, REG Z, NACHA rules, and other relevant regulatory guidelines within the financial services industry.
• Current proficient knowledge in Verafin, Centix DTS (Dispute Tracking System), CATS, and other fraud detection tools.
• Advanced proficiency in Excel, SQL, or other data analysis tools for extracting, analyzing, and interpreting large datasets.
• Current in all required training (e.g., Reg E, Reg Z, NACHA, and other fraud-related laws), with established avenues for continually staying updated on the latest fraud prevention strategies, industry trends, and regulatory changes.
• Ability to organize and manage time to multi-task and meet strict deadlines in a fast-paced environment.
• Strong verbal and written communication skills to all team levels within the credit union.

WHAT YOU’LL DO

• Work daily on-site at our Allen, TX location, starting at 10AM CST.
• Spot fraud patterns in transactions involving ACH, Zelle, checks, cash, new account set-up, and even Bitcoin.
• Investigate fraud claims and suspicious accounts.
• Analyze big data to refine fraud detection strategies.
• Collaborate with cross-functional teams and external partners to stay ahead of fraud trends.
• Help shape the future of fraud prevention at UNIFY.

RESPONSIBILITIES:

• Review and analyze various transaction types (ACH, cash transactions, Zelle, checks, Bitcoin) to identify patterns of fraudulent activity by using fraud detection tools (Visa Risk Management, Verafin, Fidelity Information System (FIS), Sentry alerts) to proactively flag and report high-risk transactions and member accounts.
• Investigate, research, and process fraud claims (checks, ACH transactions, Zelle, and other methods) to determine the degree of risk and ensure accurate reporting.
• Review high-risk new account applications and transactions for fraud indicators, including online accounts and ATM/eDeposits (Remote Deposit Capture).
• Investigate member accounts suspected of fraud or abuse, and take appropriate actions (e.g., restricting services or flagging accounts) to mitigate risk and prevent further fraudulent activity.
• Monitor and investigate fraudulent activity alerts and conduct research on suspicious accounts and high-risk transactions to identify potential fraud and prevent losses.
• Identify fraud patterns and anomalies by analyzing large volumes of transactional data. Use these insights to recommend new fraud detection rules or system enhancements.
• Collaborate with cross-functional teams (Operations, IT, Member Services) to refine risk management strategies and contribute to the development of new fraud prevention methodologies and continuously improve internal fraud mitigation processes.
• Partner and maintain a relationship with external vendors to stay updated on fraud trends, fraud prevention technologies, and industry best practices.
• Perform periodic risk assessments of merchants and other partners to evaluate potential vulnerabilities and enhance fraud prevention measures.
• Prepare and maintain detailed reports on fraud trends, suspicious activity, and high-risk accounts. Complete Suspicious Activity Reports (SARs) in compliance with government regulations and credit union policies.
• Provide support to internal teams (Operations, Finance, and Customer Service) to address fraud-related inquiries, disputes, and claims. Work closely with the Fraud Investigations team to handle high-risk cases and ensure that appropriate actions are taken.
• Assist in internal audits and quality assurance reviews to ensure compliance with fraud prevention protocols, regulatory standards (Reg E, Reg Z, NACHA), and organizational policies.
• Provide ad-hoc analysis and support as needed to assist in risk mitigation efforts, fraud investigations, and operational risk assessments.
• Perform duties in accordance with UNIFY Financial Credit Union’s processes and regulations.
• Other duties as assigned.