Fraud Risk Analyst Job at Equitable Bank
Join a Challenger
Being a traditional bank just isn’t our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what’s possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you’re not afraid of taking on big challenges and redefining the future, you belong with us. You’ll get to work with people who will encourage you to reach new heights. We like to keep things fun, ask questions and learn together.
We are a big (and growing!) family. Overall we serve more than 370,000 people across Canada through Equitable Bank, Canada's Challenger Bank™ and have been around for more than 50 years. Equitable Bank's wholly owned subsidiary, Concentra Bank, supports credit unions across Canada that serve more than 5 million members. Together we have over $100 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our EQ Bank platform (eqbank.ca) has been named the top Schedule I Bank in Canada on the Forbes World's Best Banks 2022 and 2021 lists.
The Work
The Fraud Analyst is responsible for performing fraud detection duties and ensuring that all accounts suspected of containing fraud are accurately recorded. The Fraud Analyst will also be responsible for ensuring that the Sherlock SharePoint enterprise fraud database is kept current and any new fraud trends or brokers, industry professionals, employers, etc., requiring action are identified. Finally, the Fraud Analyst will assist in the development of new fraud detection and mitigation tools, presentations, analytical reporting and other projects as they are identified. Although the main activities of the Fraud Analyst will focus on Single Family Residential (SFR) mortgages, the position may expand to other Business Units as the role and function matures.
The core parts of your role would be to:
- Assist in the daily management of the Sherlock database by reviewing loans, applying sound judgement through robust reviews and escalating cases to management that require special attention
- Responsible for completing a targeted selection of accounts for fraud focused reviews
- Analyst responsibility to complete the daily investigation of Intralinks alerts utilizing internal databases
- Managing the inbox, handling standard requests and escalating to management where required
- Use open source investigative techniques to research and report on all applications selected for fraud focused reviews, considering adherence to fraud processes and noting trends or issues warranting escalation (including for watch or deny list)
- Ensure all new SM accounts have been appropriately updated in the WL/DL and in citadel; as necessary, create new cases and perform complex fraud investigations when required
- Proactively identifies industry parties (brokers, lawyers, etc.) for the watch list or deny list as a result of investigations and escalations
- Assists in the handling of the fraud mailbox, addressing all emails in a professional, timely and responsible manner and escalating as appropriate
- Ensure all statement and BCPIF requests are completed appropriately and accurately recorded
- Review and analyze mortgage applications, corporate documentation, credit reports, income/employment documentation and funding documentation at a level that enables adequate analysis and escalation of irregularities
- Analyze and validate all reported observations and provide detailed and accurate documentation to substantiate findings
- Provide support to the front-line business, including any new initiatives that may directly affect the review process or business unit objectives
- Provide excellent customer service to other departments through professional written and verbal communication
- Maintain knowledge of banking operations, products/services, systems and associated risks and controls
- Communicate with the Manager, Fraud Risk on status reports and duty prioritization
Let’s Talk About You!
- A bachelor’s degree or higher in a financial or quantitative discipline. ACFE, ACFI or IAFCI accreditation an asset.
- An advanced understanding of mortgage/credit origination processes and controls with at least three years’ experience in a Canadian financial institution including at least one year of financial fraud investigation or fraud loss mitigation experience in a Canadian financial institution
- Demonstrated mortgage fraud subject matter expertise
- Experience with Equifax Citadel
- A working knowledge of open source investigative techniques; knowledge of Cyberquery and/or SQL an asset
- Advanced written and verbal communication skills
- A strong knowledge of Microsoft Office Suite including strong knowledge of Excel (pivot tables, formulas, functions)
- Meticulous organizational skills and attention to detail
- Able to work without supervision and to make decisions under pressure
- Excellent time management, analytical and problem-solving skills
What we offer [For full-time permanent roles]
\uD83D\uDCB0 Competitive discretionary bonus
✨ Market leading RRSP match program
\uD83E\uDE7A Medical, dental, vision, life, and disability benefits
\uD83D\uDCDD Employee Share Purchase Plan
\uD83D\uDC76\uD83C\uDFFD Maternity/Parental top-up while you care for your little one
\uD83C\uDFDD Generous vacation policy, personal days and even a moving day
\uD83D\uDDA5 Virtual events to connect with your fellow colleagues
\uD83C\uDF93 Annual professional development allowance and a comprehensive Career Development program
\uD83D\uDC9B A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience
The incumbent will be working hybrid and in office time will be spent working from Equitable Bank’s additional office space located at 351 King Street East, Toronto, ON.
Equitable Bank is deeply committed to inclusion. Our organization is stronger and our employees thrive when we honour and celebrate everyone’s diverse experiences and perspectives. In tandem with that commitment, we support and encourage our staff to grow not just in their career path, but personally as well.
We commit to providing a barrier-free recruitment process and work environment for all applicants. Please let us know of any accommodations needed so that you can bring your best self to the application process and beyond. All candidates considered for hire must successfully pass a criminal background check and credit check to qualify for hire. While we appreciate your interest in applying, an Equitable recruiter will only contact leading candidates whose skills and qualifications closely match the requirements of the position.
We can’t wait to get to know you!
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