Job Description

Role Accountability

At Allegacy, there’s a common thread that runs through all of us. It’s our commitment to doing right and our promise to members to always do the right thing for their wellbeing. Every employee in our organization is accountable to living out our brand in meaningful ways as our promise motivates our beliefs, our behaviors, and the benefits we share together. In order to achieve this state of success, this position will provide and will be responsible for minimizing financial losses by proactively identifying, investigating and pursuing legal action against fraudulent activity, ensuring that fraud related charge offs are kept to a minimum and our members are protected.

Nature and Scope

This position is a fraud investigator role that reports to the Director of Account Management Services and works with other fraud personnel who report to the Director of Account Management Services and others who report to the SVP, Lending. This position is responsible for assisting in the investigation of suspected fraudulent activity affecting the Credit Union. This role involves reviewing reports and alerts, identifying potential fraud cases, and escalating concerns to senior staff or management as needed. Investigative tasks may include gathering documentation, supporting regulatory compliance efforts, and communicating with members or internal teams. The position requires attention to detail, good judgment, and the ability to work both independently and collaboratively with other departments.

Specific Accountabilities

• Assist in investigating suspected fraud cases, ensuring documentation is accurate and cases are handled in a timely manner.
• Review financial transactions and account activity to help identify unusual or potentially fraudulent behavior.
• Collect and organize relevant data to support investigative reports or internal reviews.
• Access and review surveillance footage or images when needed to support investigations.
• Utilize internal systems and basic external tools to gather evidence related to fraud alerts or cases.
• Escalate confirmed or suspected criminal cases to senior investigators or management for further action.
• Support fraud recovery efforts by following established procedures to help reduce losses.
• Assist in preparing documentation for Suspicious Activity Reports (SARs) under the guidance of senior staff.
• Provide basic support to business units regarding fraud-related questions or reported suspicious activity.
• Stay informed of common fraud schemes and trends through internal training or shared resources.
• Collaborate with other departments to ensure fraud concerns are communicated and addressed appropriately.
• Participate in team discussions and training sessions to build knowledge of fraud investigation techniques.
• May assist in employee training sessions by sharing examples or helping facilitate discussions.
• Occasionally travel to nearby locations to support investigations, if required.
• Manage assigned tasks and meet deadlines with guidance from supervisors.
• Maintain professional relationships with internal teams and support communication with external partners when appropriate.

Knowledge, Skills and Abilities

• Basic to intermediate understanding of financial systems, transactions, and operations
• Working knowledge of financial regulations, including Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures
• Familiarity with compliance standards and regulatory reporting requirements (e.g., SARs)
• Awareness of fraud trends, prevention strategies, and recovery processes
• Understanding of debt collection principles and delinquency management
• Strong analytical and problem-solving skills with attention to detail
• Proficient in using investigative tools, financial software, and Microsoft Office applications
• Effective written and verbal communication skills for internal collaboration and member interactions
• Ability to manage multiple tasks and meet deadlines in a fast-paced environment
• Capable of preparing clear, concise reports and summaries for management
• Skilled in reviewing account activity to identify patterns, trends, and potential fraud indicators
• Ability to handle sensitive information with discretion and confidentiality
• Strong interpersonal skills for working with members, internal teams, and external partners
• Eligible to be bonded and maintain high standards of personal integrity
• Work independently and collaboratively within a team setting
• Respond effectively to member concerns and support fraud-related inquiries
• Assist in developing and implementing strategies to reduce fraud and improve recovery outcomes
• Support training and mentoring of junior staff, as appropriate
• Adapt to evolving fraud detection technologies and investigative techniques
• Contribute to the development and refinement of internal procedures and documentation
• Collaborate with law enforcement and other financial institutions under supervision when necessary

Education and Experience

Bachelor’s degree preferred, especially in Criminal Justice, Finance, Business Administration, or a related field

Associate’s degree acceptable with 5+ years of relevant experience in fraud investigation, financial crimes, or risk management

High School Diploma or equivalent with 7+ years of progressively responsible experience in fraud detection, financial services, or law enforcement

Prior experience conducting fraud investigations within a financial institution or credit union strongly preferred

Experience working with law enforcement, regulatory agencies, or legal teams in support of fraud cases is a plus

Demonstrated ability to analyze complex financial data, identify patterns, and build case documentation

Proven experience preparing Suspicious Activity Reports (SARs) and working within BSA/AML compliance frameworks

Familiarity with fraud detection systems, case management tools, and forensic evidence gathering techniques

Strong background in customer service or member relations, with the ability to handle sensitive situations professionally

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