Fraud Claims Analyst

Position Title

Fraud Claims Analyst

 

Location

Hicksville, NY 11801

 

Job Summary

The Fraud Claims Analyst is responsible for Fraud Detection & Analysis, Claims Management, Regulatory & Compliance Risk as well as Collaboration and Communication. The Fraud Claims Analyst will analyze suspicious activity across consumer, commercial, and small business check processing, review account details, check images, signatures, endorsements, and customer behavior and Identify anomalous patterns and potential fraud using velocity and value analysis. The Fraud Claims Analyst will also assess and validate fraud claims from customers and other financial institutions, review supporting evidence and make sound decisions on claim legitimacy, ensure timely and accurate processing of multiple claims simultaneously and maintain adherence to regulatory requirements and internal processing standards.

 

Job Responsibilities:

JOB RESPONSIBILITIES

• Escalate significant or unusual loss events to management promptly. 
• Handle Check Fraud Treasury Reclamations from the U.S. Department of the Treasury. 
• Investigate account activity to determine fund depletion and recovery potential. 
• Prepare documentation (e.g., indemnity agreements) for fund recovery efforts. 
• Work with internal teams, financial institutions, Federal Reserve Bank, and law enforcement. 
• Coordinate with the Corporate Security Department when necessary. 
• Respond to inquiries from claimants and stakeholders with professionalism.
• Independently manage the end-to-end handling of inclearing check fraud claims, deposited check disputes, and Return Deposited Item (RDI) investigations.
• Ensure all actions comply with regulatory requirements, and escalate cases involving potential regulatory, reputational, or financial risks.
• Exercise sound judgment in determining whether to submit claims to external financial institutions or escalate to management for payout approval.
• Investigate and resolve identity theft claims, including the removal of ChexSystems inquiries and referring any Online Banking applications related to ID Theft to Online Banking team.
• Evaluate and respond to fraud incidents assigned to the department, ensuring timely and accurate resolution.
• Prepare necessary documentation such as customer correspondence, indemnity agreements, and other supporting materials required for claim resolution.
• Communicate effectively with customers, internal departments, branch personnel, the Federal Reserve Bank, and law enforcement agencies to support investigations and claim processing.
• Prepare charge-off forms with supporting justification for approval. Create posting sheets, preparing debit/credit entries related to reclamation funds, customer credits, and approved charge-offs.
• Maintain accurate daily metrics for claims received, charge-offs completed, and post-charge-off recoveries to support operational transparency and performance tracking.
• Uses independent judgement and discretion to make decisions.
• Analyzes and resolves problems.

ADDITIONAL ACCOUNTABILITIES

• Performs special projects, and additional duties and responsibilities as required.
• Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.

JOB REQUIREMENTS

Required Qualifications:

• Education level required: High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent.
• Minimum experience required: ​2+ Years​ of experience investigating check fraud, knowledge of check stock, endorsements, image analysis, and treasury reclamation processes.
• Experience in fraud detection and escalation.

Preferred Qualifications:

• Education level preferred: ​Undergraduate Degree (4 years or equivalent)​.

Job Competencies:

• Knowledge of Chex Systems, Fiserv DNA, Nautilus, and FCRM.
• Computer literate with moderate-advanced skills in Microsoft Office Suite (Word, Excel, Outlook, PowerPoint).
• Strong verbal skills, ability to ask pertinent questions and demand escalation when needed.
• Strong written communication skills.
• Identifying high-risk or time-sensitive cases for immediate action.
• Strong problem-solving skills, proactive and solution oriented.
• Managing multiple claims simultaneously without sacrificing accuracy.
• Understand importance of confidentiality and professionalism.
• Detail Oriented.
• Demonstrates a strong ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross functional insights. Aligns relationship building efforts with enterprise goals to accelerate performance and drive strategic results.
• Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.
• Fosters or supports a positive work culture and productive work environment, displaying importance of effective relationships with customers and stakeholders.
• Physical demands (ADA): ​No unusual physical exertion is involved.

Flagstar is an Equal Opportunity Employer - Vets/Disabled

We are committed to providing clear and accurate compensation information in accordance with applicable laws. Actual starting base pay will be determined based on location, experience, and other non-discriminatory factors permitted by law. Total compensation may also include variable incentives, bonuses, commissions, or other awards as outlined in the offer of employment. Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information: Benefits | Flagstar Bank

Pay Range

$21.27 - $33.82