Fraud Investigator

Position Title

Fraud Investigator

 

Location

Troy, MI 48098

 

Job Summary

The Enterprise Fraud Investigator is responsible for conducting comprehensive investigations into suspected fraud involving customers, accounts, and transactions across Retail, Private Banking, and digital channels. Using a risk-based approach, the investigator evaluates loss situations, identifies fraud schemes, determines root causes, and coordinates recovery efforts. The role requires strong analytical skills, fraud typology knowledge, regulatory familiarity, interviewing abilities, and the capability to prepare documentation for law enforcement and recovery.
This includes performing in-depth research and detailed account analysis reviewing and investigating cases on the Bank’s Case Management System. The review of normal and abnormal transactional activity may range from routine to highly complex utilizing internal and external research, and detailed account analysis. Assists with mentoring and training team members as well as adhering to the Bank’s policies and procedures to mitigate risk exposure to the Bank
Must possess excellent analytical skills and be able to handle multiple tasks concurrently.

 

Job Responsibilities:

Conduct Investigations with emphasis on Prevention & Recovery

• Evaluate reported loss situations, fraudulent activity, and suspicious behavior to identify suspects, methods of operation, and root cause.
• Conduct investigations involving elder abuse and vulnerable adult exploitation and execute urgent interventions when necessary.
• Perform interviews with suspected first‑party fraud actors to validate information and obtain statements.
• Apply knowledge of UCC Articles 3 & 4 and other regulations to reduce loss exposure and pursue recovery.
• Prepare and submit Operational Risk Event Root Cause analysis
• Document investigative findings and recommend mitigation strategies.
• Recommend preventative controls or process improvements to reduce fraud risk.
• Handle overflow of low-dollar or low-complexity fraud cases.

Loss Prevention Reviews

• Perform daily wire and ACH fraud detection reviews.
• Prepare and submit Operational Risk Event Root Cause analysis
• Internal & External Networking / Support
• Provide consultation to business units, supporting fraud monitoring and trend analysis.
• Build and maintain relationships with law enforcement and fraud‑prevention professionals.

ADDITIONAL ACCOUNTABILITIES

• Performs special projects, and additional duties and responsibilities as required.
• Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance training. Accountable to maintain compliance with applicable federal, state and local laws and regulations.
• Stay informed on emerging fraud trends, schemes, and criminal methodologies.
• Uses independent judgement and discretion to make decisions.

JOB REQUIREMENTS

Required Qualifications:

• Education level required: High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent
• Minimum experience required: 4+ Years of fraud investigation with medium to large regional bank
• Additionally, will consider 4+ years of fraud operations or related financial‑crime experience in a medium to large regional bank.
• 1+ years of coaching and/or mentoring other fraud experienced professionals.

Preferred Qualifications:

• Education level required: Undergraduate Degree (4 years or equivalent) in Finance, accounting, business management, or criminal justice or equivalent work experience.
• Certified Fraud Examiner

Job Competencies:

• Investigation experience in deposit, check, ACH, wire, card, P2P, digital banking, and identity‑related schemes.
• Knowledge of UCC Articles 3 & 4, regulatory expectations, and industry‑standard fraud controls.
• Working knowledge and understanding of Retail Banking and Lending products and services, and core banking systems.
• Knowledge of fraud monitoring systems.
• Strong internet research skills.
• Strong verbal and written communication skills.
• Sound analytical and problem-solving skills.
• Good organizational skills.
• High degree of accuracy and attention to detail.
• Advanced computer literacy skills with proficiency in Microsoft Office as well as Internet research techniques.
• Ability to work and contribute in a team-oriented and collaborative environment to improve the analytical and reporting processes.
• Ability to meet deadlines and manage multiple tasks in a fast-paced environment.
• Ability to mentor and assist department staff.
• Demonstrates a strong ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross functional insights. Aligns relationship building efforts with enterprise goals to accelerate performance and drive strategic results.
• Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.
• Fosters or supports a positive work culture and productive work environment, displaying importance of effective relationships with customers and stakeholders.
• No travel requirements
• Physical demands (ADA): No unusual physical exertion is involved.

Flagstar is an Equal Opportunity Employer

We are committed to providing clear and accurate compensation information in accordance with applicable laws. Actual starting base pay will be determined based on location, experience, and other non-discriminatory factors permitted by law. Total compensation may also include variable incentives, bonuses, commissions, or other awards as outlined in the offer of employment. Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information: Benefits | Flagstar Bank

Pay Range

$48,821.25 - $77,265.00