Job opportunity at ICBA/TCM Bank - FRAUD INVESTIGATOR (2023)

Virtual Req #13

Wednesday, May 24, 2023

TCM Bank is in Tampa, FL. This is a remote opportunity. If living outside of the area, travel expectationswouldbe at least 4 times (over-night travel) per year. Qualified candidates located in the states where we do business will be considered:AL, AZ, DC, FL, GA, IA, KY, MD, MA, MO, NE, NC, OH, OR, PA, SC, TX, & VA.


The Fraud Investigator proactively minimizes the bank’s exposure to credit and fraud losses by assessing the current and future reporting needs, conducting fraud investigations and financial analyses, and providing ad hoc and monthly reporting. Conducts high level fraud investigations with a keen ability to identify pertinent details. Responsible for evaluating the circumstances of a case of suspected fraud and make recommendations about future measures. Takes immediate action to prevent/reduce bank loss on real-time fraud events. Makes recommendations for process improvements that support reduced exposure. Responsible for the implementation of policies and programs designed to prevent, detect, identify and resolve fraudulent activity and mitigate losses. The Fraud Investigator will also possess a strong working knowledge of our processing systems, ad hoc reporting, and operational processes. The position requires a high level of autonomy and ability to think both critically and independently. Works closely with a variety of departments and vendors to compile complex fraud cases and implement future prevention/recovery tactics. Additional responsibilities include data/critical analysis, assisting with and reporting to regulators, auditors, and management.

Duties & Responsibilities:

  • Conduct various analytical studies related to overall fraud management and prevention.
  • Assists Fraud Leadership with providing education to Fraud Prevention Staff on investigative best practices and mitigation tactics.
  • Identifies, analyzes, and interprets trends and patterns in complex data sets, and monitors and validates data integrity.
  • Creates and implements ad-hoc strategies, analytics, reporting, development, and deployment of procedures associated with fraud mitigation while ensuring high customer service levels and revenue enhancement.
  • Ability to learn to manipulate credit card authorization data and fraud trends to create, test and implement transaction-based fraud rules on TCM’s fraud monitoring system(s) to mitigate fraud losses.
  • Analyze fraud trends and risk factors throughout the account lifecycle and independently act to reduce fraud losses and increase recoveries.
  • Evaluate fraud detection parameters to ensure fraud mitigation strategies are effective. Includes, but is not limited to, authentication and authorization rule writing.
  • Serve as fraud subject matter expert and provide ad hoc reports and research as needed.
  • Use various identification tools to link cardholder/applicant data and determine the true identity/involvement of those linked to an active fraud investigation.
  • Performs outbound calls and conducts interviews with various audiences (cardholder, businesses, financial institutions) to further solidify or obtain additional information on fraud investigation findings. The fraud investigation findings are reliant on outbound calls- the ideal candidate must be willing to actively call out and conduct interviews with cardholders to discuss activity. Findings made during these discussions will either confirm or negate the final determination of a case.
  • Analyze fraud loss trends and risk factors to provide recommendations for loss mitigation and recovery efforts to management.
  • Review fraud cases for processing errors and document recurring occurrences to address and prepare reimbursement requests for vendors.
  • Prepare reporting and performance updates for management.
  • Support audit evaluations as needed.
  • Participate in job-specific training and required bank training programs.
  • Assists with the development of job resource materials to aid in the training/development of department team members.
  • Identify and investigate large losses, high profile fraud claims, seeking restitution through various channels when applicable.
  • Investigates elder abuse and reports to the appropriate groups and agencies.
  • Works with operations and front-line employees to protect customer information and prevent loss.
  • Develops and maintains professional working relationships with local law enforcement and peer bank fraud professionals.
  • Review and research evidence/documents to analyze the overall fact pattern of claim and synthesize data into a professional report with recommendations.
  • Ability to distinguish between different types of fraud while working an investigation case (fraudulent application, account takeover, synthetic ID, first party fraud, scam victim) and resolve accordingly while escalating to Fraud Prevention Leadership when necessary.
  • Complete various manual daily reports to gather claim data to determine the validity of a fraud claim.
  • Able to successfully perform back up duties of the defined roles of Fraud Specialist and Fraud Analyst as department staffing requires.
  • Ability to prepare, document and present case filings that meet mandated reporting thresholds.
  • Review fraud referrals from various sources and independently decide the required action of an account/application status.
  • Perform other related duties as assigned.


  • Bachelor’s degree in finance, financial investigations, criminal justice, accounting, management information systems or the equivalent in years of industry experience without a degree.
  • Minimum of 4 years experience in the financial services industry-specific to Fraud.
  • Minimum of 2 years of experience in fraud investigation.
  • Knowledge of bank regulations (e.g. BSA, OFAC, Reg Z, Reg O, Chargeback Specifics).
  • Strong analytical, problem-solving, time management, interpersonal and decision-making skills.
  • High attention to detail.
  • Intermediate MS Excel skills with ability to perform functions including pivot tables, conditional formatting, and data analysis. SQL skills preferred.
  • Ability to analyze customer profiles and transaction history to interpret data and recognize non-obvious activity patterns.
  • Ability to conduct creative and innovative research, retrieve and organize data to prepare reports and presentation materials.
  • Ability to provide feedback and development opportunities to all members of the Fraud Department.
  • Ability to provide feedback, coaching opportunities, and collaboration opportunities to partnering departments and third-party vendors.
  • Ability to conduct independent research of claims, examining the evidence, interviewing victims, and questioning potential perpetrators.
  • Experience with fraud monitoring strategies/rules.
  • Ability to create reports and provide recommendations to management in a variety of mediums.
  • Self-motivated. Able to make independent decisions based on risk without leadership approval.
  • Thorough knowledge and understanding of fraud prevention and investigative concepts, reporting, practices, and procedures.
  • Strong interpersonal skills for interfacing with all levels of management and peers.
  • Ability to communicate effectively both verbally and in writing.

TCM Bank, N.A. embraces the diversity of its applicants and employees and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, veteran status or any other characteristic protected by applicable law.

Actual compensation offered to candidate will be finalized at offer and may be above or below the posted range due to skill level, experience, industry specific knowledge, education/certifications, etc. The offer rate represents one component of TCM Bank's total compensation package. Employees will also receive several benefits as listed below. Other compensation for this position may include bonus eligibilityinto TCM's annual bonus incentive program.

Benefits Offered:

  • Competitive medical, dental and vision benefits
  • 401(k) and Roth 401(k) retirement plans with company match
  • Flexible spending accounts (medical and dependent care)
  • Company-paid parental leave
  • Educational assistance
  • Company paid continuing education credits
  • Paid employee assistance program
  • 12 paid holidays, including discretionary early closures before holidays and company events. (More than your average company!)
  • Multiple time-off options for vacation, volunteering, or care for yourself or loved ones

TCM Bank is in Tampa, FL. This is a remote opportunity. If living outside of the area, travel expectationswouldbe at least 4 times (over-night travel) per year. Qualified candidates located in the states where we do business will be considered:AL, AZ, DC, FL, GA, IA, KY, MD, MA, MO, NE, NC, OH, OR, PA, SC, TX, & VA or will be willing to relocate (TCM does not provide relocation).

No sponsorships available for this position.

Principals Only. No Agencies Please.

Other details

  • Pay Type Salary
  • Min Hiring Rate $51,900.00
  • Max Hiring Rate $58,800.00
  • Travel Required Yes
  • Travel % 25
  • Required Education Bachelor’s Degree

Apply Now


What is the role of a fraud investigator in a bank? ›

Fraud Investigator responsibilities include:

Conducting investigations into allegations of fraud, waste or abuse committed by clients against our company. Reviewing and researching evidence/documents to analyze the overall fact pattern of claim and synthesize data into a professional report with recommendations.

What is the job description of identity fraud? ›

Monitor customer transactions for unauthorized transactions and fraudulent activities such as account takeover, identity theft, kiting, check fraud, and other risks.

What is the meaning of fraud investigation? ›

A fraud investigation examines the evidence to determine whether or not a fraud occurred, how it occurred, who was involved, and how much money was lost.

What is the best salary for a fraud investigator? ›

What are Top 5 Best Paying Related Fraud Investigator Jobs in California
Job TitleAnnual SalaryMonthly Pay
Vice President Fraud Investigator$108,606$9,050
Fraud Strategy$90,633$7,552
Compliance Fraud$88,256$7,354
Cyber Fraud$86,736$7,228
1 more row

What is the highest paid fraud investigator? ›

Highest salary that a Fraud Investigator can earn is ₹6.7 Lakhs per year (₹55.8k per month).

Who is the boss in Identity Fraud? ›

The Last Hurdle is the final boss of Identity Fraud. Their name is unknown, so everyone assumes it's name to be the trembling text shown directly before fighting the boss.

What is an example of Identity Fraud? ›

Once identity thieves have your personal information they may: Go on spending sprees using your credit and debit account numbers to buy “big ticket” items like computers or televisions that they can easily re-sell.

What classes are Identity Fraud? ›

Identity fraud, or 'ID theft', involves the use of a person's stolen details to commit crime. Many victims never find out exactly how someone got hold of their details, and clearing things up afterwards can be costly and stressful.

How can I be a better fraud investigator? ›

To become a Fraud Investigator, you will need:
  1. strong communication skills.
  2. IT skills.
  3. good attention to detail.
  4. to be confident and trustworthy.
  5. good organisation skills.
  6. to be able to work under pressure.
  7. strong decision-making skills.

How long do bank fraud investigations take? ›

Typically bank fraud investigations take up to 45 days.

What is the difference between AML and fraud investigation? ›

While fraud departments protect their company from financial losses, AML departments focus on anti-money laundering compliance and the need to protect the financial system itself. This means that while anti-fraud has a direct commercial benefit for a business, AML does not.

What is the average fraud investigator's yearly caseload? ›

Section 1.2 Workload and Organization
Annual Caseload by Unit
Domestic Violence2,279
26 more rows

How much do insurance fraud investigators make in the US? ›

The average salary for a fraud investigator in the United States is $49,010. Fraud investigator salaries typically range between $32,000 and $74,000 a year.

What is the lowest salary for a criminal investigator? ›

The average Criminal Investigator salary in the United States is $75,213 as of May 01, 2023, but the range typically falls between $56,424 and $83,019.

Is certified fraud examiner worth it? ›

Simply put, yes! According to the world's largest anti-fraud organization, the Association of Certified Fraud Examiners (ACFE), certified fraud examiners earn 31% more than examiners who are not certified.

What is the salary of fraud risk analyst? ›

Fraud Analyst salary in India ranges between ₹ 1.8 Lakhs to ₹ 6.5 Lakhs with an average annual salary of ₹ 3.2 Lakhs.

Where do criminal investigators get paid the most? ›

Top companies for Criminal Investigators in United States
  • US Department of Homeland Security. 3.8 $148,386per year. ...
  • U.S. Customs and Border Protection. 4.0 $115,965per year. ...
  • US Department of the Treasury. 3.9 $105,627per year. ...
  • US Department of Labor. 4.0 $103,249per year. ...
  • Texas Comptroller of Public Accounts. ...
  • Show more companies.

What are the 3 types of identity theft? ›

The three most common types of identity theft are financial, medical and online.

What is the #1 type of identity theft? ›

A fraudster can use your identity to claim fraudulent unemployment benefits. Or, they might contact you claiming to be from a government agency to say you were paid too much and owe money in return. Government benefits fraud was the number one type of identity theft in 2021, according to the FTC [*].

What are the 2 basic type of frauds? ›

The courts classify fraud under two major types: criminal and civil. Civil fraud is when the fraud is an intentional misrepresentation of facts. Criminal fraud is when theft is involved in the fraud.

What are 6 common forms of identity theft? ›

The 6 Types of Identity Theft
  • #1 New Account Fraud. Using another's personal identifying information to obtain products and services using that person's good credit standing. ...
  • #2 Account Takeover Fraud. ...
  • #3 Criminal Identity Theft. ...
  • #4 Medical Identity Theft. ...
  • #5 Business or Commercial Identity Theft. ...
  • #6 Identity Cloning.
Feb 2, 2011

What are the red flags that may indicate identity theft? ›

appear to be forged or altered; Personal identifying information (i.e., photograph, physical description) on the identification does not match the individual presenting the information; Address or name does not match the information on the identification and/or insurance card(s), credit card(s), etc.

What are the soft skills for a Fraud Investigator? ›

Three common soft skills for a fraud investigator are detail oriented, physical strength and communication skills.

What skills do you need to be a Fraud Investigator on a resume? ›

What are the most important Fraud Investigator job skills to have on my resume? The most common important skills required by employers are Law Enforcement, Abuse Counselor, Facilitation, Communication Skills, Compliance, Collaboration and Analysis.

How difficult is certified fraud examiner? ›

The answer to this question is not straightforward, as the difficulty of the exam can vary depending on factors such as an individual's background and level of experience in the field. However, in general, the CFE exam is known to be challenging, with a pass rate of around 50-60%.

How often does bank fraud get caught? ›

It really depends on the actions taken by a cardholder after they notice a possible attack and the prevention methods a bank or card issuer takes to detect fraud. Some estimates say less than 1% of credit card fraud is actually caught, while others say it could be higher but is impossible to know.

How do banks detect fraud? ›

Machine learning uses huge sets of data to identify suspicious patterns. Predictive analytics, product recommendations, market research, and more are combined together with multifactor authentication (MFA), messaging, and other telecom monitoring tools to alert both banks and customers to fraudulent activity.

Who pays for credit card frauds? ›

The bank usually pays for stolen credit card purchases. Sometimes, the merchant is responsible. The consumer almost never pays for stolen credit card purchases.

What are the four types of AML? ›

The FAB classification divides AML into subtypes M0 to M7 as follows:
  • M0: undifferentiated acute myeloblastic leukemia.
  • M1: acute myeloblastic leukemia with little or no maturation.
  • M2: acute myeloblastic leukemia with maturation.
  • M3: acute promyelocytic leukemia (APL)
  • M4: acute myelomonocytic leukemia.

What are red flags for AML fraud? ›

An instant AML red flag is transactions with unregistered countries or sanctioned states. A client receiving funds or making transfers to unregistered locations should be contacted immediately, if no reasonable explanation can be given to justify such activity, it is wise to restrict account access.

What are the 3 stages of money laundering? ›

There are three stages introducing laundered funds into the financial system:
  • Placement.
  • Layering.
  • Integration/extraction.
Mar 10, 2023

What skills are needed for fraud investigation? ›

Skills and qualities
  • strong communication skills.
  • IT skills.
  • good attention to detail.
  • to be confident and trustworthy.
  • good organisation skills.
  • to be able to work under pressure.
  • strong decision-making skills.

What are the soft skills for a fraud investigator? ›

Three common soft skills for a fraud investigator are detail oriented, physical strength and communication skills.

What are the responsibilities of fraud monitoring? ›

  • Conduct transaction monitoring and follow-up suspicious transactions alert actions from various monitoring systems including ebanking and credit card systems in proper manner. ...
  • Assist Team Manager to adjust system parameters for better fraud detection or transaction blocking.

Why do you want to work in fraud investigation? ›

Motivating investigative work

It is an exciting career choice for people who enjoy solving puzzles, tackling intellectual challenges or have high levels of mathematical or analytical ability. Decisions made as a fraud analysts are implemented immediately to drive businesses growth.

How can I be a good fraud analyst? ›

Requirements and Qualifications
  1. Bachelor's degree in criminal justice or computer science (preferred)
  2. Proficiency with fraud detection software and tools.
  3. Creative problem-solving abilities.
  4. Attention to detail.
  5. Superb written and verbal communication skills.

What are the four elements that must exist to prove fraud 5? ›

There are four elements that must be present for a person or employee to commit fraud: • Opportunity • Low chance of getting caught • Rationalization in the fraudsters mind, and • Justification that results from the rationalization.

What are the 7 qualities of Investigator? ›

List seven characteristics commonly found in good investigators. Being passionate about following the truth, being detailed oriented, patient, tenacious, objective, conscious of own thinking and biases, and being knowledgeable about the skills needed to conduct evidence and present that evidence in court.

What are the three most important skills that an Investigator must have? ›

Top 6 Characteristics of an Effective Criminal Investigator
  • The ability to follow the U.S. Constitution and the Law. Yes, having a firm grasp of the legal aspects of criminal investigations is vital. ...
  • Report writing. ...
  • Critical thinking. ...
  • Communication skills. ...
  • Ethics. ...
  • Collaborative attitude/teamwork.

How do you conduct a fraud investigation interview? ›

The following are five key steps in making your one-on-one interviews significantly more successful.
  1. Timing Of The Interviews.
  2. Select the Right Individuals.
  3. Set a Relaxed Tone.
  4. Ask The Right Questions.
  5. Don't Give In / Be Persistent.
Oct 1, 2015

How do banks monitor fraud? ›

How Do Banks Investigate Fraud? Bank investigators will usually start with the transaction data and look for likely indicators of fraud. Time stamps, location data, IP addresses, and other elements can be used to prove whether or not the cardholder was involved in the transaction.

What is 24 7 fraud monitoring? ›

24/7 Fraud Monitoring

We help keep your money safe by monitoring your accounts and may contact you if we detect unusual activity. If it's not your purchase, we will help you resolve it. We use various methods to contact our customers including email, text, push notification from the mobile app, or phone call.

What are the five pillars of fraud risk management? ›

5 Fraud Risk Management Principles
  • Increasing fraud awareness among employees.
  • Ensuring the quality of each rule, practice, or fraud risk process.
  • Continuous fraud risk monitoring.
  • Research on market fraud prevention and mitigation technology.
  • Descriptions of the fraud investigation process.
Jun 2, 2022


Top Articles
Latest Posts
Article information

Author: Annamae Dooley

Last Updated: 02/07/2023

Views: 5555

Rating: 4.4 / 5 (45 voted)

Reviews: 84% of readers found this page helpful

Author information

Name: Annamae Dooley

Birthday: 2001-07-26

Address: 9687 Tambra Meadow, Bradleyhaven, TN 53219

Phone: +9316045904039

Job: Future Coordinator

Hobby: Archery, Couponing, Poi, Kite flying, Knitting, Rappelling, Baseball

Introduction: My name is Annamae Dooley, I am a witty, quaint, lovely, clever, rich, sparkling, powerful person who loves writing and wants to share my knowledge and understanding with you.