Sr. Fraud Investigator

Job Summary

Conducts investigations of potential/suspected financial crimes and/or fraud. Utilizes systems and a variety of investigative techniques and tools to collect, collate, and analyze financial and background information and makes informed decisions concerning customer account status/retention. Recognizes and evaluates high risk accounts, potential watch list matches and dispositions, and other suspicious and/or questionable account activity. Analyzes data and determines when cases are to be submitted to law enforcement and/or prosecutors for potential legal action. Takes appropriate action to stop or prevent data or monetary losses by assessing internal controls and procedures associated with financial crimes and fraud cases. Constructs case narratives, when appropriate, to support required BSA regulatory reporting. Evaluates the root cause of cases and, where appropriate, recommends specific incidents for review of potential control gaps. Assists and reviews the work of less experienced team members.

Job Duties and Responsibilities

• Conducts investigations of suspected financial crimes and/or fraud. Applies analytic techniques to information sets to make logical and supported recommendations on reporting activities to the Financial Crimes Enforcement Network (FinCEN) and/or the OFAC. Performs enhanced due diligence on customers designated by regulators as high risk, such as international and large cash customers.
• Stay informed of fraud trends, threats, and attack methods. Leverage that knowledge of both the industry and internal fraud controls to provide training and guidance to front-line and other employees. From time to time visit branches to evaluate fraud trends and/or conduct awareness training. Where possible, cultivate relationships with law enforcement and other financial institutions.
• Utilizes knowledge of bank systems, processes and contacts as resources for conducting investigations. Develops a plan of action and gathers, analyzes and compiles evidence for multiple case assignments. Prepares case documentation and writes a complete final summary report of investigation.
• Inputs all investigation activities and detailed field notes into the case management database within five business days to provide a complete summary of the overall investigation. Calculates total attempted fraud amounts as well as total loss amounts on all confirmed fraud cases. Maintains and reports accurate data for the creation of the Executive Level Business Review to for senior management and operational risk committees.
• Interviews customers, employees, and suspects. Traces financial transactions and reviews the background and financial profile of suspected individuals. Works with management to determine when a case should be closed, recovered or charged off when all investigative leads and the potential for recovery have been exhausted. Closes cases in the case management database.
• Communicates with branch staff to obtain additional customer information and/or information needed for supporting documentation, reports and risk mitigation. Assists branch personnel, when necessary, to conduct customer interviews to address certain specific alerted transactional issues,
• Escalates cases to applicable Synovus department or team based on details of case. Compiles confidential case documents for referral to Corporate Security when law enforcement involvement may be required. Prepares all case-related Suspicious Activity Reports (SARSs) that are forwarded to Synovus Compliance within 30 days. Hands off investigations to Synovus Audit and/or Compliance when team members are involved.
• Assesses internal controls and procedures associated with assigned cases, identifying control breakdowns and makes recommendations to prevent future losses. Assists with determining new procedures to prevent, detect and investigate fraud. Reviews fraud data to ensure accuracy for reporting and audit purposes. Assists with computer crime investigations and investigates breaches for information security policies as requested.
• Maintains updated information on various systems as well as required files and documentation. Ensures records are complete and available for review and audit as needed. Complies with regulatory requirements, security and applicable policies and identifies control and procedural issues. Manages the security of highly sensitive information related to fraud investigations. Participates in special projects as required.
• Prepares and submits case narratives for Suspicious Activity Reports (SAR) to the AML/BSA department for review and FinCEN filing, ensuring narrative and SAR form are completed accurately and within procedural and regulatory deadlines while ma