Fraud Detection Analyst

Overview:

Detects and prevents fraudulent activities by analyzing anomalous activity in near real-time environment in order to minimize Bank fraud losses, mitigate internal intent to defraud the Bank, and protect customers from external threats. Supports various fraud related activities, including fraudulent scenario resolution, fraud detection system monitoring, fraud alert coordination, and escalation when appropriate.

Primary Responsibilities:

• Review transaction data from the real-time fraud detection system and other reporting sources and complete additional research in various internal and external systems to identify potentially fraudulent transactions.
• Place appropriate holds on accounts identified as having potentially fraudulent issues, document action taken and track status through resolution to provide a record of activity and support identification of trends or consistent issues.
• Contact customers by phone, mail and email to verify transactions, resolve fraud-related account issues, and verify legitimacy of activity.
• Leverage fraud knowledge to communicate with customers, merchants, financial institutions, law enforcement and Bank personnel on a professional level to resolve potential fraud-related issues and provide information.
• Ensure activities comply with applicable laws and regulations impacting fraud detection activities to protect Company and customer interests.
• Communicate with customers, merchants and Visa personnel to authenticate customers and provide verbal authorizations or respond to fraud in progress.
• Remain current on multiple fraud trends, threats, and imminent scams impacting the Bank’s portfolios and customers. Recommend changes to fraud detection system parameters to higher management to optimize fraud detection while minimizing negative customer impact.
• Acquire and maintain ability to rapidly navigate multiple mainframe systems to locate information and complete account maintenance activities. Use specified software applications to manage and share information within the department as appropriate.
• Serve as primary fraud contact on all assigned cases.
• Understand and adhere to the Company’s risk and regulatory standards, policies and controls in accordance with the Company’s Risk Appetite. Identify risk-related issues needing escalation to management.
• Promote an environment that supports belonging and reflects the M&T Bank brand.
• Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
• Complete other related duties as assigned.

Scope of Responsibilities:

Supervisory/Managerial Responsibilities:

No supervisory responsibilities.

Education and Experience Required:

• Associate’s degree and a minimum of 1 year relevant work experience, OR in lieu of a degree, a combined minimum of 3 years’ higher education and related work experience including a minimum of 1 year relevant work experience
• Proficiency with personal computers as well as pertinent word processing, database and spreadsheet software packages

Education and Experience Preferred:

• Experience or coursework in a financial crime or law enforcement related field
• Customer service experience
• Experience working in a team environment
• Proven analytical skills
• Experience communicating effectively with all levels of personnel
• Experience making decisions quickly and accurately as well as handling multiple tasks simultaneously

Location/Schedule:

This position will require a hybrid schedule, reporting onsite weekly in compliance with Bank policy, out of Bridgeport Center (Bridgeport, CT) or Commerce Drive (Amherst, NY). Shift hours are Monday - Friday 10:00 AM - 6:30 PM.

Location