Financial Fraud Investigator

The Fraud Investigator is responsible for protecting UW Credit Union and its members from financial crime through the investigation of suspicious activity, money laundering, account abuse, scams, and fraud. Serving as a subject matter expert in financial crime detection and investigation, this role has a primary focus on anti-money laundering (AML) investigations and supporting the credit union's BSA/AML compliance program, while also assisting with complex fraud investigations and member escalations.

This position analyzes account activity, transaction patterns, and emerging fraud and money laundering typologies to identify risks, conduct thorough investigations, and develop effective risk mitigation strategies. Responsibilities include documenting investigative findings, supporting regulatory reporting requirements, collaborating with law enforcement and other financial institutions, and contributing to educational outreach, special projects, and cross-functional initiatives.

Successful candidates will be comfortable working independently and making sound decisions in complex situations that may involve significant financial exposure, regulatory considerations, and competing priorities. They will possess strong analytical skills, investigative curiosity, and the ability to identify connections across multiple sources of information.

The Fraud Investigator regularly works with members during stressful and often emotional situations and must communicate with empathy while effectively gathering information and resolving concerns. Strong written and verbal communication skills, teamwork, and a commitment to knowledge sharing are essential. This role serves as a leader within the Loss Prevention team and collaborates closely with departments across UW Credit Union to protect members and strengthen the organization's overall financial crime prevention efforts.

Case Investigation & Resolution

• Investigate incidents of confirmed or suspected fraud, including researching transactions and other electronic evidence and by conducting telephone or in-person interviews with members, witnesses, and employees.
• Document case activities and analyze findings to determine reimbursement statuses, limitations of services, and eligibility of membership for UW Credit Union members.
• Perform root-cause analyses of cases and fraud trends to make recommendations for fraud risk mitigation.
• Prepare detailed case narratives and assemble evidence for Law Enforcement reporting.
• Participate in Law Enforcement investigations, including serving as a witness in court proceedings.
• Provide guidance to the Fraud Analysts and Senior Fraud Analysts by reviewing high-risk cases, member escalations, and situations that have a potential of high-dollar loss to UW Credit Union or our members.

Fraud Intelligence

• Maintain a high level of awareness of industry trends, active scams, and fraud methods.
• Serve as subject-matter expert for cross-functional projects.
• Communicate fraud trends within the department and throughout the organization as appropriate.
• Partner with the Fraud Managers to develop Fraud Prevention programs which may include collaborating with internal and external partners to establish and implement policies and procedures.
• Collaborate with Fraud Managers to perform risk assessments and make recommendations for proactive fraud risk mitigations.
• Develop a network of fraud contacts in financial institutions and Law Enforcement agencies.

Case Management, Analysis, and Reporting

• Manage assigned cases and fulfill necessary actions for timely resolution, including phone and written contact with members, account maintenance, and referring cases to Fraud Managers for review.
• Maintain accurate records in the fraud case management system in accordance with UWCU procedures and state/federal guidelines.
• Recognize and report emerging fraud trends to the Fraud team or other UWCU departments to prevent losses.
• Apply expertise to develop cross-functional recommendations to address emerging patterns of fraud and application of fraud mitigation tools.
• Responsible for ensuring compliance with the Bank Secrecy Act (BSA) and other anti-money laundering (AML) laws and regulations.

Fraud Detection & Risk Mitigation

• Demonstrate sound judgement to evaluate accounts for potentially suspicious or fraudulent activity.
• Maintain a consistently high level of accuracy in identifying fraudulent activity.
• Take actions to prevent losses to the credit union and our members; including contacting members, locking accounts, and suspending services
• In collaboration with the Fraud Systems Coordinator, prepare fraud. analysis reports to present to management.
• In collaboration with the Fraud Managers, develop and maintain internal Fraud WIKI articles of best practices and procedures and provide feedback to other internal partners who maintain resources for UW Credit Union employees.

Education & Experience:

• Associates degree in Business Administration, Finance, Marketing, or related field required.
• 6 - 7 years experience within a Financial Institution or financial crimes experience required.
• 6 – 7 years experience loss prevention (fraud) required.

Skills: 

• Ability to develop rapport with members through phones calls, email, and secure messages.
• Confidence with escalation resolution and the ability to empathize.
• Excellent interpersonal, oral, and written communication skills.
• Demonstrated analytical and problem-solving skills.
• Excellent organizational skills, with the ability to work independently to prioritize and manage multiple concurrent responsibilities.
• Ability to work in a fast-paced and often changing environment.
• Technical proficiency with computer and mobile devices.
• Familiarity with major web browsers and operating systems.
• Proficiency with Microsoft Office products.
• Ability to handle sensitive and confidential information.
• Ability to educate members, internal partners, and at-risk community members about scams & fraud trends in a presentation setting.
• Demonstrated knowledge of Fraud team functions and responsibilities and the ability to represent those interests in cross-functional meetings and initiatives.
• Ability to effectively coach co-workers and provide constructive feedback.
• Knowledge of regulations: Reg CC, Reg E, and Reg Z.
• Familiarity with lending products, lending processes, and Credit Bureau reports.

Why work for UW Credit Union?

Join one of Wisconsin’s premier financial institutions, a National Top Workplace and multi-year recipient of Madison Magazine’s Best Places to Work, Wisconsin State Journal’s Top Workplaces, and Milwaukee Journal Sentinel’s Top Workplaces to receive:

• 21.5 days of annual time off (accrued per pay period)
• 2 weeks paid caregiver leave
• 2.5 weeks paid new child parental leave
• 2 days paid volunteer time
• 10 paid holidays (including your birthday!)
• 401k company match of up to 5%, plus approximately 4% discretionary match
• Variable bonus reward
• Competitive Medical, Dental, and Vision plans, including domestic partner eligibility
• Employee Assistance Program
• And more!

All employees must possess valid work authorization to work for UWCU on the date of hire.  UWCU does not provide immigration sponsorship or support for employment authorization to include, but not limited to, sponsorship or support for H-1B, F-1 OPT, TN, or other visa category.