Description

Description

Responsible for the review of complex problems/claims for the fraud business unit, or units including research. The incumbent will take appropriate action based on trends identified around transaction characteristics & account changes with indicators of extremely complex issues related to all fraud types. Must know and understand all Fraud Types, i.e., Identity Theft, Transaction Fraud. Complex decisions are made based on analytical research and judgmental decision. Requires extensive fraud experience and must follow established procedures & guidelines while utilizing multiple systems & tools. Ensure compliance with Federal and Bank Regulations. Excellent communication and follow up skills required. To appropriately investigate and decision fraud claim incumbent will interact with customer, perpetrator, field investigations, various Law enforcement agencies, Merchant, banking centers and other financial institutions. Customer communication includes fraud education, setting appropriate expectations or skillfully denying the claim. Individual must have 3-5 years of fraud experience along with working knowledge of all industry related rules including Visa and MasterCard association.

Additional Information:

Reviews Merchant Services accounts for the prevention and detection of possible fraud and other risks, such as potential going out of business, excessive credit and/or chargeback activity, etc. Associate will take appropriate actions based on account processing activity, which may indicate potential fraud or other risks to Merchant Services.

Experience is gained through training, following established procedures & guidelines and research utilizing multiple systems & tools. Responsible for moderately complex research and analysis of account activity to assess levels of risk and fraud type. Complex decisions are made based on analytical research and judgmental decision. Takes appropriate corrective action through customer phone/email contact to verify legitimate usage. Excellent communication and follow-up skills required. To investigate and decision loss prevention issues, the associate will interact with the customer, perpetrator, Corporate Security & other divisions of BAC, other financial institutions, and/or law enforcement. Builds strong relationships with business partners across LOBs. Has an in-depth understanding of the business unit’s operations processes and implications on other groups within operations and other divisions within the company. Knowledge acquired through increasingly responsible operations and analysis work.

Typically 3-5 years experience with a working knowledge of industry-related rules, including Visa and MasterCard rules. Bachelor degree or equivalent preferred. Reports to Risk Monitoring & Investigations Team Manager.

Qualifications

Required Skills:

Strong leadership; takes ownership for problem resolution.

Strong written and verbal communication skills; must be comfortable and proficient at speaking with customers & other internal partners via phone.

Highly organized; good time management skills.

Works well in a team setting; a team player.

Sound decision-making skills.

Demonstrated ability and willingness to engage multiple business partners to ensure that we are providing our customers with the best service possible.

Continuously challenges and reevaluates the way things are done; identifies new methods or approaches to improve on business processes and practices that are not optimal; consistently looks for incremental improvements in control, quality and efficiency.

Possesses the intrinsic motivation and willingness to push ahead toward achieving a desired goal or end-state without suggestion or prompting by others; exhibits an ongoing desire to go beyond what is required.

Desired Skills:

Familiar with Merchant Services or Card Services

Familiar with Six Sigma tools; Green Belt preferred

Operations Experience

Fraud Experience
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