Risk Prevention Analyst

at  PSCU

Join the People Helping People
PSCU/Co-op Solutions is now Velera! PSCU and Co-op Solutions became a single entity on January 2, 2024, and our new company name was announced on May 7, 2024. Our new brand represents our combined company’s shared mission and unique ability to drive velocity and positive momentum for credit union success in a new era of financial services.
The main objective of this position is to ensure timely analysis of all fraud situations affecting our financial institutions by using effective analysis and strategies to minimize fraud losses. The Risk Prevention Analyst is responsible for providing operational risk assessments leveraging fraud mitigation tools, focusing on analysis, design, and artificial inteligence (AI) technology associated with fraud mitigation strategies, call queue creation, monitoring, support, and management using quantitative methods to review data and increase efficiency, productivity, effectiveness and savings. Seeking a skilled Risk Analyst who will provide support for external clients and internal staff on fraud detection and prevention matters, inquiries, and solutions to meet client and business needs. Additionally, the role involves writing rules and creating custom solutions for clients, monitoring fraud for their client group, identifying risk exposure based on fraud trends and data, and determining mitigation measures.
This role involves direct interaction with senior-level management at the financial institution and within Velera, as well as regular coordination with the Fraud Detection Work Center (FDWC), Velera Service Centers, multiple internal departments, and 3rd party vendor personnel.

Essential Functions & Responsibilities

• Coordinate the Risk Analytics team’s tasks and ensure adherence to established turnaround times and SLAs; manage projects assigned to the team; Ensure quality of all team outputs.
• Maintain awareness of member client fraud trends and suggest internal procedure changes to Risk Analytics Manager to remain efficient.
• Continually supervise department workflow to ensure time-sensitive functions are meeting department standards.
• Maintains productive relationships with all internal stakeholders including Fraud Operations, Risk Management, Product, Retail, Finance as well as external vendors
• Advise internal contacts on sensitive issues and recommend client procedures and new product developments.
• Maintains productive relationships with all internal stakeholders including Fraud Operations, Risk Management, Product, Retail, Finance as well as external vendors.
• Create and deliver BI reporting to develop thorough reporting for senior leadership, boards, and examiners.
• Work closely with a designated client list to ensure efficient and effective fraud mitigation through various communication channels such as calls and emails.
• Uses advanced business, analytical and technical knowledge to participate in discussions with cross functional teams to understand and collaborate on business objectives and influence solution strategies.
• Translates recommendation into communication materials to effectively present to colleagues for peer review and mid-to-upper-level management. Incorporates visualization techniques to support the relevant points of the analysis and ease the understanding for less technical audiences.
• Identifies and gathers the relevant and quality data sources required to fully answer and address the problem for the recommended strategy through testing or exploratory data analysis (EDA).Integrates/transforms disparate data sources and resolves appropriate data hygiene techniques to apply.
• Consults external clients and internal staff on fraud detection and prevention matters, inquiries, and solutions to meet client and business needs. Writes rules, builds custom solutions for clients, and monitors fraud for their client group.
• Identifies risk exposure associated with fraud trends that have the potential to cause financial losses and poor member experience in client portfolios to determine if mitigation measures are necessary.
• Leverages knowledge of fraud prevention tools to consult with clients on their fraud and risk goals, review key fraud performance metrics, consult on available fraud tools, and recommend strategic means to minimize risk exposure and improve member experience.
• Collaborates with other internal teams to serve as client advocate for fraud and risk items and special projects or mitigations.
• Ensures risks associated with business activities are effectively identified, measured, monitored, and controlled in accordance with risk and compliance policies and procedures.
• Responsible for reporting risks identified to the appropriate team and/or management. Additionally, responsible for managing, monitoring and reporting risks within your work area’s scope, including, but not limited to Information Security risks.
• Regular and reliable attendance is required. Some on-call work is required. This position may require early/late hours and availability during weekends to ensure client support on fraud monitoring or mitigation.
• Remain current with industry and client fraud trends.
• Perform other duties as assigned.

Physical Demands

• While performing the duties of this Job, the employee is regularly required to sit; use hands to finger, handle, or feel and talk or hear
• Specific vision abilities required by this job include close vision
• Ability to occasionally lift/move up to 25 pounds
• Individuals with a disability who are otherwise able to perform the essential functions of the job may request a reasonable accommodation through the Human Resources department.

Position Specifications

• Associate’s Degree in Business Administration or related field or combination of education and experience required.

Experience
Two (2) years within the financial service industry required. Two (2) years professional experience in risk analytics, mitigating risk and/or fraud services required. Payments processing system knowledge preferred. Experience with DefenseEdge, Falcon, Fraud Detection Work Center and/or FDR system experience required.

Knowledge, Skills, & Abilities

• Strong business acumen as well as and deep subject matter expertise in the fraud mitigation, analytics, recovery and payment card industry activity
• Ability to communicate effectively in both verbal and written formats and give presentations utilizing various audiovisual support aids; ability to communicate effectively with both technical and non-technical audiences
• Ability to manage multiple projects, work in fast-paced environment, and meet deadlines; ability to take ownership of issues in assigned area, and drive timely resolution
• Demonstrated excellent analytical and quantitative skills
• Ability to understand credit union feedback and put resolutions into action
• Ability to respond quickly and adapt to changes in priorities driven by a dynamic market; ability to proactively identify opportunities to improve the consulting environment
• Ability to exercise discretion and good judgment in making decisions
• Proficiency in Microsoft Office applications, internet browsers, linked data analysis, Project management approaches, and First Data processing platforms
• Ability to function in a production-based environment using various applications for identifying fraud trends
• Ability to travel as needed, 10%
• Ability to maintain confidentiality of materials handled
• Ability to be flexible and work under high pressure in a complex environment
• Ability to work on-call (24 x 7)
• Ability to work remote part time or full time

About Velera
At Velera we are committed to fostering a workplace where every employee feels valued, respected, and connected. We understand, attract and engage a diverse workforce where every employee can live up to their full potential; ensuring that our employee base reflects the consumers we serve. The result of this effort is an inclusive environment where diverse talent thrives. We strive to foster a safe and inclusive work environment for people to bring their authentic selves in order to build a better community within our company and with our partners.
Pay Equity
$54,000.00
to
$68,800.00
Actual Pay will be adjusted based on experience and other job-related factors permitted by law.

Great Work/Life Benefits!

• Competitive wages
• Medical with telemedicine
• Dental and Vision
• Basic and Optional Life Insurance
• Paid Time Off (PTO)
• Maternity, Parental, Family Care
• Community Volunteer Time Off
• 12 Paid Holidays
• Company Paid Disability Insurance
• 401k (with employer match)
• Health Savings Accounts (HSA) with company provided contributions
• Flexible Spending Accounts (FSA)
• Supplemental Insurance
• Mental Health and Well-being: Employee Assistance Program (EAP)
• Tuition Reimbursement
• Wellness program
• Benefits are subject to generally applicable eligibility, waiting period, contribution, and other requirements and conditions

Velera is an Equal Opportunity Employer. We consider applicants without regard to race, color, religion, age, national origin, ancestry, ethnicity, gender, gender identity, gender expression, sexual orientation, marital status, veteran status, disability, genetic information, citizenship status, or membership in any other group protected by federal, state or local law.
Velera is an Equal Opportunity Employer that complies with the laws and regulations set forth in the following
“EEO is the Law” Poster and the
“EEO is the Law” Poster Supplement. Velera will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the legal duty to furnish information.
Velera is an E-Verify Employer. Review the E-Verify Poster
here
(English and Spanish). For information regarding your Right To Work, please click
here (English and Spanish poster).
As an ongoing commitment to reasonably accommodate individuals with disabilities please contact a recruiter at
recruiters@pscu.com for assistance

• Coordinate the Risk Analytics team’s tasks and ensure adherence to established turnaround times and SLAs; manage projects assigned to the team; Ensure quality of all team outputs.
• Maintain awareness of member client fraud trends and suggest internal procedure changes to Risk Analytics Manager to remain efficient.
• Continually supervise department workflow to ensure time-sensitive functions are meeting department standards.
• Maintains productive relationships with all internal stakeholders including Fraud Operations, Risk Management, Product, Retail, Finance as well as external vendors
• Advise internal contacts on sensitive issues and recommend client procedures and new product developments.
• Maintains productive relationships with all internal stakeholders including Fraud Operations, Risk Management, Product, Retail, Finance as well as external vendors.
• Create and deliver BI reporting to develop thorough reporting for senior leadership, boards, and examiners.
• Work closely with a designated client list to ensure efficient and effective fraud mitigation through various communication channels such as calls and emails.
• Uses advanced business, analytical and technical knowledge to participate in discussions with cross functional teams to understand and collaborate on business objectives and influence solution strategies.
• Translates recommendation into communication materials to effectively present to colleagues for peer review and mid-to-upper-level management. Incorporates visualization techniques to support the relevant points of the analysis and ease the understanding for less technical audiences.
• Identifies and gathers the relevant and quality data sources required to fully answer and address the problem for the recommended strategy through testing or exploratory data analysis (EDA).Integrates/transforms disparate data sources and resolves appropriate data hygiene techniques to apply.
• Consults external clients and internal staff on fraud detection and prevention matters, inquiries, and solutions to meet client and business needs. Writes rules, builds custom solutions for clients, and monitors fraud for their client group.
• Identifies risk exposure associated with fraud trends that have the potential to cause financial losses and poor member experience in client portfolios to determine if mitigation measures are necessary.
• Leverages knowledge of fraud prevention tools to consult with clients on their fraud and risk goals, review key fraud performance metrics, consult on available fraud tools, and recommend strategic means to minimize risk exposure and improve member experience.
• Collaborates with other internal teams to serve as client advocate for fraud and risk items and special projects or mitigations.
• Ensures risks associated with business activities are effectively identified, measured, monitored, and controlled in accordance with risk and compliance policies and procedures.
• Responsible for reporting risks identified to the appropriate team and/or management. Additionally, responsible for managing, monitoring and reporting risks within your work area’s scope, including, but not limited to Information Security risks.
• Regular and reliable attendance is required. Some on-call work is required. This position may require early/late hours and availability during weekends to ensure client support on fraud monitoring or mitigation.
• Remain current with industry and client fraud trends.
• Perform other duties as assigned