Senior Internal Fraud Investigator
- Salary
- $87.5K–$108.5K
- Hiring from
- United States
- Work type
- Hybrid
- Posted
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Salary Range: $87,500.00 To $108,500.00 Annually
About MCU:
At Municipal Credit Union, we believe that an incredible culture helps create a happy and motivated team that works hard to achieve the best results for themselves and their members. For more than 100 years, MCU has provided affordable financial products and convenient services to a membership base that is now comprised of over 600,000 individuals. With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people.
Our Mission:
To help hard-working New Yorkers build better tomorrows
Our Vision:
Be New York's most loved financial institution by helping our members build their best financial futures
Overview: The Senior Fraud Investigator leads complex financial crime investigations, using intelligence, data analysis, and industry best practices to prevent fraud, reduce losses, strengthen controls, and advance the organization’s fraud risk strategy through collaboration with internal and external partners.
Responsibilities
Specific duties include, but are not limited to, the following:
Investigations and Analysis:
- Investigate a wide range of fraud typologies, including but limited to; check fraud, ACH and wire fraud, identity theft, account takeover, new account fraud, loan fraud, ATM fraud, counterfeit and altered items, forged instruments, kiting schemes, and other emerging financial crime threats.
- Review and analyze employee transactional data, system logs, audit logs and other internal custom reports to identify irregularities, fraudulent behavior, and policy violations.
- Conduct confidential investigations into suspected internal fraud, theft, embezzlement, conflict of interest, data manipulation, misuse of company resources, etc.
- Support whistleblower case intake, triage, and investigation in accordance with strict confidentiality requirements.
- Interview relevant parties including members, employees, and external third parties to gather, verify and document information relevant to investigations.
- Collaborate with financial institutions, law enforcement agencies, and industry partners to validate fraudulent activity, identify linked actors, and share intelligence regarding emerging threats.
- Prepare thorough, accurate, and well-documented investigative reports that clearly summarize findings, evidence, actions taken, and case outcomes.
- Gather and preserve and maintain evidence in accordance with legal, regulatory, and organizational requirements to support investigations, regulatory inquiries, and potential legal proceedings.
- Communicate with members, branch personnel, and other stakeholders regarding fraud claims and investigative matters.
- Apprise Financial Crimes & Intelligence leadership of complex, high-risk or potentially significant cases.
- Provide testimony as a fact or expert witness in criminal, civil, administrative, or regulatory proceedings as needed.
Compliance and Reporting:
- Ensure compliance with applicable laws, regulations, and internal policies, including BSA/AML, Regulation CC, and other financial crime-related requirements.
- Complete accurate and timely Suspicious Activity Reports (SARs), to include a comprehensive narrative fully describing the alleged fraudulent activity in accordance with FinCEN requirements and Financial Crimes & Intelligence standards.
- Review SAR filings to ensure accuracy, completeness, consistency, and regulatory compliance.
- Coordinate with local, state, and federal law enforcement agencies by referring cases for investigative support, loss recovery efforts, and potential prosecution.
- Promote consistency, quality, and regulatory compliance across Financial Crimes & Intelligence operations through adherence to established policies, procedures, and best practices.
- Ensure and maintain complete, accurate, and audit-ready investigative records and documentation in accordance with regulatory, legal, and organizational requirements.
Fraud Prevention and Strategy:
- Analyze fraud trends, typologies, loss data, and emerging threats to identify risks and develop proactive fraud prevention strategies.
- Recommend corrective actions, policy enhancements and process improvements based on investigative findings and root cause analysis.
- Identify internal control gaps, procedural weaknesses and operational vulnerabilities that may contribute to internal fraud.
- Research, evaluate and identify control deficiencies/violations that contribute to external fraud, and make recommendations to strengthen fraud prevention, detection, and response capabilities.
- Collaborate with business units and stakeholders to implement solutions that reduce organizational risks, losses, and threats.
- Support fraud prevention and financial crime education initiatives for MCU staff and members.
Requirements:
- Proficiency in fraud detection and case management systems; Verafin preferred.
- Bachelor’s or associate degree in Criminal Justice, Business, Accounting, or a related field, or an equivalent combination of education and experience.
- Five to seven years of financial crimes investigation experience in the private or public sector.
- Complete annual BSA/AML, fraud, and cybersecurity training.
- Industry certification, such as CFE, CFCS, or CAMS, preferred but not required.
- Knowledge of federal, state, and local criminal statutes and banking regulatory and compliance requirements.
- Ability to work a flexible schedule based on business needs.
- Ability to handle confidential information with discretion and professionalism.
- Strong initiative, critical-thinking, and problem-solving skills.
- Maintains a strong professional presence and consistently delivers clear, concise, and effective written and verbal communications.
- Ability to build effective relationships across departments and with external partners.
- Ability to manage a high-volume caseload, competing priorities, and deadlines with close attention to detail.
Why you'll be a good fit:
Our Core Values are an integral part of who we are and who we hire. By living our Core Values, every day, we continue to attract the best and brightest talent, achieve unsurpassed results and continuously challenge ourselves to be better than yesterday. These values are at the heart of our organization and within every teammate. To be a great fit, you’ll bring the following
Results - We are passionate about winning.
Agility - We proactively anticipate, respond and pivot to ensure MCU wins.
Integrity - We operate with the highest ethical standards and highest degree of honesty.
Belonging - We cultivate a culture of inclusion and teamwork.
Ownership - We take personal responsibility and hold ourselves accountable for the results.
Why You’ll Love Working Here:
The pay range for this position is between $87,500-108,500 annually. Actual base pay offered may vary depending on a number of factors such as job-related knowledge, skills, experience, and location. Employees in this position may also be eligible for a discretionary bonus, 401(k) with an 6% employer match per pay period. Benefits for this position include Medical, vision, dental, life, and disability insurance, flexible paid time off and 11 paid holidays annually.
Municipal Credit Union (MCU) is an Equal Opportunity Employer. Municipal Credit Union provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by applicable federal, state or local laws.
We are committed to hiring, training, cultivating, promoting, and celebrating an environment where we have a welcoming and fulfilling place for all people to call home. Diversity of race, thought, sexual orientation, age, veteran status, religion, and disability will empower us to thrive as individuals, as teams, and as an organization.