The Role
Investigate and respond to potential member account fraud across channels (mobile deposits, wires, ATM, online banking, external transfers, new accounts). Monitor daily fraud reports, restrict/secure accounts, communicate with members and branches, file SARs as needed, collaborate with law enforcement, document findings, and recommend process improvements. Prepare weekly status reports and support the Account Fraud Assistant Manager.
Summary Generated by Built In
Redwood Credit Union is looking for an Account Fraud Specialist I, who will identify, prevent and mitigate fraud and related threats against RCU Members, assets, and team members. Serve as a responder to Member, Branch and Back Office concerns, evaluating content and measuring risk, forwarding priority matters to the Account Fraud Assistant Manager.
Key Responsibilities
Department Operations:
o Review daily Mobile Deposit Capture reports (MDC Fraudboard) to identify potential fraudulent transactions and restrict accounts as needed.
o Review daily reports in Verafin which identify New Account Fraud, Wire Fraud, MDC Fraud, ATM Fraud, and Online Banking Account Takeover. When fraudulent activity is identified, restrict accounts, and communicate with Members as appropriate.
o Review Member high-risk contact information changes for potential account takeovers and restrict/secure accounts where necessary.
o Review daily reports for potential External Transfer Fraud associated with Online Banking Account Takeover through Jwaala Manager.
o Review daily HELOC draft reports to identify anomalies which may indicate a compromised account.
o Review high risk wires through fraud monitoring software, review call recordings to identify red flags and conduct Member follow-up as needed.
o Manage New Account Opening Report (PPS) to provide a mechanism for branches to amend identity theft/fraud concerns.
o Partner with branches during the new account opening process to address high-risk prospective Members and request documentation to allay any identity theft concerns.
o Review monthly fraud statistics to ensure timely filing of Suspicious Activity Reports (SAR) where needed, ensuring accuracy and compliance with BSA requirements and in accordance with regulatory deadlines.
o Fraud Activity Response- Investigate escalated alerts or notifications from both inside and outside of the organization. Follow through with account restriction and Member communication, when appropriate.
o Analyze Member and transactional data to identify potentially fraudulent activity, exercise solid judgement on examining information, and document fraudulent activity, behaviors and/or patterns.
o Serve as a resource for fraud or other suspicious activities for branches, departments, and external parties (i.e. law enforcement and other financial institutions.)
o Work closely with law enforcement to file fraud reports, providing evidence in a timely and
succinct manner to facilitate prosecution.
o Keep abreast of fraud and AML-related regulations and trends for changing compliance and risk; recommend business process improvements when gaps are identified.
o Provide excellent service to all Members, volunteers, internal employees, and service providers.
o Prepare weekly status report and forwards it to Account Fraud Assistant Manager.
Join us and discover why you'll love working at Redwood Credit Union!
ABOUT REDWOOD CREDIT UNION (RCU):
At Redwood Credit Union, our mission is to passionately serve the best interests of our Members and communities. Since 1950, we have been dedicated to supporting the financial well-being of our Members through better rates, low or no fees, and best-in-class customer service. Our purpose is to inspire hope and elevate the financial well-being of our communities one person at a time, through good times and bad.
As a not-for-profit financial institution, we are committed to a people-first approach, which is reflected not only in how we serve our Members, but also in how we treat our employees. Our leadership team is deeply focused on fostering a culture of heart and empathy, integrity, passion, inclusion, meaningful relationships, excellence, and ensuring financial well-being for all.
Why work for Redwood Credit Union?
• 25th largest credit union in the U.S. and the largest financial institution based in the North Bay
• Recognized by Newsweek as one of "America's Best Credit Unions 2026"
• Awarded a 5-Star Bauer Rating
• Recognized by Newsweek as one of "America's Greatest Midsize Workplaces 2026"
• Top Corporate Philanthropists (#24) - San Francisco Business Times
• Voted Best Places to Work in the North Bay 20 years in a row
• World-class Employee Engagement scores
• Rated Superior in Service by more than 90% of Members, surveyed by SF Gate
• Industry leading Net Promoter Scores across the U.S.
Minimum Qualification: Knowledge, Skills and Abilities
- Knowledge of State and Federal laws and regulations pertaining to financial institutions (i.e., BSA, AML, OFAC, USA Patriot Act).
- Excellent analytical, evaluation, communication, and interpersonal skills.
- Strong verbal and written communication skills.
- Solid understanding of banking and fraud threats posed by outside criminal organizations.
- Skill in the operation of a PC with computer programs including Excel and fraud identification/AML software.
- Ability to organize workflow efficiently, self-direct personal training needs and utilize available resources.
- Ability to perform financial analysis, draw logical conclusions, and make recommendations when needed.
- Ability to act independently and confidentially with little or no supervision.
- Ability to distinguish and manage confidential information, materials and conversations.
- Establish and maintain effective working relationships in a diverse environment, including working with employees from other departments.
- Ability to work a rotating schedule which will include working on rotating Saturdays.
The ideal candidate has a combination of education and experience equivalent to a high school diploma and a minimum of two years’ experience in depository financial institution processes and procedures or similar experience preferred.
Compensation: Base starting range: $30.00 to $40.00 per hour commensurate with experience.
Our base salary starting range is based on scope and responsibilities of the position, candidate's work experience, education/training, key skills, and internal peer equity. We offer a competitive total rewards package including a wide range of medical, dental, vision, financial, and other benefits.
Redwood Credit Union offers a robust benefits package to our eligible employees including:
• Competitive medical, dental, and vision insurance, mental health offerings
• Employee performance incentive plan
• Salary Advancement– Merit increase based on performance
• 401(k) program with employer match
• Time Off- Competitive PTO accrual plus 11 paid company holidays and your birthday off!
RCU Discounts and Perks:
• RCU employees are eligible for a .75% discount off RCU standard collateral auto loans
• RCU employees are eligible for a 1% discount on all recreational or boat loan products
• 2% discount off Visas and LOC Loans through RCU
• 0% interest loan to support employees with various immigration related expenses such as visa application fees and relocation costs. Loan amount up to $1,000.
• 0% interest loan to support employees with expenses associated with the naturalization process. Loan amount up to $15,000.
• 0% interest on garment, fitness, or home office equipment loan of up to $500
• 100% financing for employee purchased homes!
Physical Requirements:
• Ability to lift-up to ten (10) pounds occasionally.
• Ability to use a keyboard and general office equipment (i.e. copy, fax, ten-key, etc.).
• Ability to stand, bend, stoop, sit, walk, twist, and turn.
• Ability to function effectively in an office environment, including working in a cubicle.
*Redwood Credit Union is not offering Visa transfers and/or sponsorships for this position.
Internal Team Members: If you are a current Team Member, please apply through the internal careers page located in RCUNET.
We are an Equal Opportunity Employer
Skills Required
- Knowledge of State and Federal laws and regulations pertaining to financial institutions (BSA, AML, OFAC, USA Patriot Act).
- Excellent analytical, evaluation, communication, and interpersonal skills.
- Skill in operation of a PC with programs including Excel and fraud identification/AML software (Verafin, Jwaala Manager, MDC Fraudboard, PPS).
- Solid understanding of banking and fraud threats posed by outside criminal organizations.
- Ability to organize workflow efficiently, self-direct training needs, and utilize available resources.
- Ability to perform financial analysis, draw logical conclusions, and make recommendations.
- Ability to act independently and confidentially with little or no supervision and to manage confidential information.
- Ability to work a rotating schedule including rotating Saturdays.
- Combination of education and experience equivalent to a high school diploma and a minimum of two years' experience in depository financial institution processes and procedures or similar experience.
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The Company
What We Do
Redwood Credit Union is a full-service financial cooperative, assisting consumers and small business owners with achieving their financial goals and dreams since 1950. We’re a financial cooperative that truly cares about the financial goals and dreams of those who do business with us. With a wide variety of products and services designed to meet our Members’ financial needs, there’s something for everyone. And each Member actually owns part of the Credit Union and has a voice in what we do and how we do it. An excellent place to work, RCU was recently recognized by Forbes as one of “America’s Best Small Employers 2023.” And for 17 years running, we’ve been awarded Best Places to Work by the North Bay Business Journal. We continue today to build upon a solid philosophical and business foundation—treating Members with respect and personal care while offering unbeatable value. Federally insured by NCUA. Equal housing lender. *** Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA www.finra.org /SIPC www.sipc.org ) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Redwood Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members. Investment representatives at Redwood Credit Union are licensed to transact securities business in CA. For more information concerning CFS or its representative(s) associated with this site, please review FINRA Broker Check by accessing the following link and typing in the firm / representative information in the search field. http://brokercheck.finra.org/Search/Search.aspx
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