Loss Prevention Specialist - Compliance

Essential Functions & Responsibilities:

• Performs various daily, weekly and monthly duties related to analyzing and monitoring fraudulent activity and high-risk transactions to coordinate prevention and/or recovery of losses. Requires critical thinking to analyze data, derive facts, and utilize independent judgment on the best course of action. Most cases are new and unique, with ambiguity and shifting objectives.
• Serves as a point of contact for Credit Union employees and members to educate and support the information related to specific duties by phone and email.
• Analyzes data and determines if regulatory reporting is required, gathers supporting documentation, creates summaries and submits timely to Compliance to meet strict deadlines for regulatory responses in accordance with policies and procedures.
• Analyzes new accounts, personal identification documentation, and online banking records for identity theft and fraud prevention. Analyzes data provided by credit bureaus, Lexis Nexis, or IRS verification systems to assist with CIP/KYC regulations. In accordance with policies and procedures, assists front-line staff with concerns and prepares documentation for secondary review of level II or higher review based on risk.
• Analyze account activity to determine service restrictions necessary to prevent losses. Prepare supporting documentation for secondary review of level II or higher when evaluating account closure based on risks and complete the necessary action within regulations, policies, and procedures.
• Analyze losses and high-risk activity to determine if criminal prosecution is necessary or if a government agency should be notified. Provide the information as a recommendation for a secondary review. Gather all supporting documentation and secure any security video required for criminal prosecution. Prepare for processing within policies and procedures.
• Maintains procedures related to specific duties.
• Prepares various status reports/metrics for management related to specific duties.
• Performs other job-related duties as assigned.

Performance Measurements:

• Maintain current knowledge and ensure compliance with all rules and regulations concerning specific job responsibilities.
• Meet required deadlines and provide timely support.
• Maintain confidentiality for all information.
• Provide informed, professional, accurate service and support to all members, employees, and law enforcement contacts.

Knowledge and Skills:

Experience: One to three years of similar or related experience in a credit union or financial institution is preferred. In addition, a base knowledge of Anti-Money Laundering, Countering the Financing of Terrorism, or reviewing transaction data for Suspicious activity is preferred.

Education: (1) A high school education or GED or (2) Completion of a specialized course of study at a business or trade school.

Interpersonal Skills: Work involves significant personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, obtaining information, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.

Other Skills: 1. Must be able to conduct detailed account research utilizing online systems, Image system, word processing, fax and copy machines, and spreadsheet programs and video/DVR equipment.

2. Requires excellent communication skills, both written and verbal, in order to professionally interact with employees, members and law enforcement agencies.

3. Must possess good organizational skills and the ability to work with multiple priorities necessary to meet deadlines.

4. Ability to work with cross-functional teams in a high-stress, fast-paced and rapidly changing environment.

5. Strong work ethic and desire to enhance the knowledge base, technical skills and self-motivation.

6. Ability to handle ambiguity and adapt to shifting objectives.

7. Ability to analyze data and derive facts.

8. Strong problem-solving and decision-making skills.

9. Provide workable recommendations and solutions to meet regulatory compliance requirements.

Physical Requirements: Light lifting is required.