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Specialist, Fraud Strategy & Prevention

Merrick Bank
South Jordan, UT
  • Posted: over a month ago
  • Full-Time
Job Description
Merrick Bank employees share in our mission to delight our customers and empower underserved consumers to achieve their credit goals. In return, we delight our associates; ensuring they are noticed, heard, appreciated and understand the importance of their role(s). For over 20 years, our Guiding Principles of; doing the right thing, putting the customer first, and Earn, Learn, Have Fun (aka E.L.F.), have defined who we are as an Employer of Choice. Give Yourself Credit, Work at Merrick!

The primary responsibility of the Fraud Specialist will be to use sound reasoning and good judgment to prevent significant fraud losses and recover funds. This role will review alerts received in fraud detection systems, and fraud referrals that require significant research on high-risk applications and deposit activity that present a significant risk of losses.

 

Essential Functions:

  • Subject Matter Expert in detection, investigation, and prevention of synthetic, identity, and new account application fraud.
  • Provides recommendations supported by data in the implementation of new fraud alerts and controls.
  • Ability to conduct deposit risk investigations.
  • Collaborates with Fraud Strategy, Fraud Operations, and Account Originations teams to resolve escalated issues.
  • Determines action required based on established procedures and works with supervisor to handle more complex cases.
  • Analyzes application data and recommends process improvements to prevent and mitigate fraud.
  • Communicates with the Compliance department when a SAR is required.
  • Conducts investigations of escalated alerts/cases of potentially suspicious activity and potential fraud across verticals. 

Compliance with Laws & Regulations: 

  • Responsible for complying with all of the Bank’s internal control policies and procedures.
  • Responsible for understanding and complying with all laws and regulations to which the Bank is subject.
  • Responsible for communicating problems in operations, noncompliance with the code of conduct, noncompliance with laws and regulations, policy violations, or illegal acts.
  • Ensure compliance with anti-money laundering, including KYC and gaming regulations. 

Education and Experience:

  • An Associate's Degree in a related field is required, two years of related and equivalent experience accepted in lieu of education requirement.
  • Two (2) years of e-commerce and/or financial environment within a Financial Crimes Unit or equivalent is preferred. 

Summary of Qualifications:

  • Proven ability to work effectively in a production environment.
  • Strong Leadership skills
  • Able to communicate effectively and professionally with external and internal customers via telephone and written communications.
  • Proven effective planning, organizational, time management, and problem-solving skills.
  • Proven ability to work effectively under pressure.  Skill at handling a variety of assignments simultaneously.  Flexibility and willingness to work at a rapid pace in strict time frames.
  • Experience with, and demonstrated skill at, the following: Word Processing, Spreadsheets, E-Mail, and Database software.

Who is Merrick Bank? Founded over 20 years ago, Merrick Bank is a FDIC-insured Utah Industrial Loan Bank that originates loans with the benefit of low-cost deposit funding. Merrick Bank had $4.5 billion in assets and $3.1 billion in deposits as of March 31, 2021. Merrick Bank operates four main business lines: Credit Cards, Recreation Lending, Personal Loans and Merchant Acquiring.

Our Valued Employees are provided generous benefits, including:

  • Competitive Pay 
  • Benefits Package -Medical, Dental and Vision (plus much more) 
  • 401(k) Plan with Company Match 
  • Short & Long Term Disability 
  • Group Life and AD&D Insurance
  • Paid Vacation, Holidays, and Personal Days 
  • Employee Events, including Employee Appreciation Day, Holiday Party, etc. 
  • Tuition Reimbursement Program 

Candidates must have unrestricted authority to work in the United States without sponsorship.

If this position is based in our Woodbury, Long Island office or Virtual, please note that ALL the work for this position must be performed outside of the five Boroughs of New York City.


Merrick Bank is an equal opportunity employer, and we evaluate qualified applicants without regard to race, color, religion, sex, national origin, disability, veteran status or any other legally protected characteristic. We will conduct a thorough background check for all hires in compliance with applicable law which includes (but may not be limited to) a review of factors including the applicant’s employment/personal references and drug testing.

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Merrick Bank

Address

South Jordan, UT
USA

Industry

Business

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