RBO - Risk Management Specialist

Position Title

RBO - Risk Management Specialist

Location

Hicksville, NY 11801

Job Summary

The RBO Risk Management Specialist is primarily responsible for preventing fraud loss across consumer, commercial and small business check processing. Analysis of checks presented for payment to identify fraud activity and anomalous activity is the primary role. The check review will require detailed analysis of check stock/image, signatures and endorsements, velocity, values and customer behavior relative the check activity being presented. The risk associated with this activity is considered critical and requires a high level of accuracy to appropriate loss mitigation and minimal customer disruption. In addition, this role will also process claims to resolve any fraud claims reported to the bank. Claims represent a high level of regulatory requirements and risk to the bank. Adherence to the regulatory requirements, processing requirements as well will ensure limited customer impact and reduced loss to the bank through proper recovery execution. This role will also be responsible for all Treasury Reclamations. The specialist would be required to review reclamation received from the U.S. Department of the Treasury, verify decedent person’s information against the core system, and limit the Bank’s liability on any and all received reclamations by responding to the Treasury department in a timely and accurate manner. Determine how deposited funds were depleted from the account if funds are insufficient to return, and determine if there is a possibility to recover funds from a joint person, POA, or family member. Review claim submissions, obtain and verify information received for accuracy. Prepares documentation, letters, or indemnity agreements for submission to other financial institutions in an attempt to recover funds. The Specialists must demonstrate strong analytical skills to be successful in this role. They must also have strong communication skills as they will engage with customer and financial institutions customers, Federal Reserve Bank, or Law Enforcement when needed. Work directly with Bank Security Department if or when needed if their involvement is required for a particular case. The Specialist must also immediately escalate any suspicious, unusual, or significant loss events to Management that may be risky to the customer or the Bank.

Pay Range $23.73 - $30.26 - $36.78

Pay Range: Local Minimum Wage - $0.00 - $0.00

Job Responsibilities:

• Analyzing in-clearing checks exceptions alerted in ARGO queues assigned to Risk Management for the purpose of detecting and preventing altered, forged, or counterfeit checks from being paid. And preventing loss to the customer and Bank

• Process claims according to regulatory requirements, understand those requirements and identify any needed escalation related to regulatory, reputation or loss impacts.

• Obtain required documentation and verifies information received for accuracy. 

• Assess and responds to Fraud Incidents assigned to the department.

• Immediately escalates any suspicious, unusual, or significant loss events to Management that may be risky to the customer or the Bank

• Works with fraud case management system- FCRM to open fraud cases on disputes, maintain clear and accurate notations, as well as retain copies of all pertinent documentation. Follows up with branch and/or customer on missing documents.

• Will communicate with department Management to provide details on any case requiring an indemnity agreement be submitted to bank of deposit.

• Prepares documentation, letters, or indemnity agreements for submission to other financial institutions in an attempt to recover funds.

• Works each case from the point of initiation to point of final resolution. 

• Utilizes Fiserv DNA and Nautilus systems to identify decedent person’s information against the core system to ensure the reclamation received was in fact for payments deposited to an account at the Bank, and to locate related account (s).Perform research to determine if there are any related accounts for the deceased person, any joint parties, or POA on the account that funds could possibly be recovered from in needed. Investigate to determine how funds were depleted from decedents account if funds are insufficient to return to the Treasury on a reclamation. 

• Attempt to recover lost funds following department guidelines.

• Completion and sign off of Certifications NO. 1 and NO. 2 on Treasury Reclamations in order to limit the Bank’s liability in a timely and accurate manner.

• Log all Treasury Reclamations on Reclamations case log.

• Corresponds and communicate with customers and other financial insti