Fraud Analyst

Meridian Credit Union - Toronto, ON (30+ days ago)

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Job Summary

Reporting to the Manager, Fraud Policy & Strategy, this role is responsible for providing effective analysis to aid in the delivery of a proactive fraud prevention and detection strategy, in line with policy, risk appetite and appropriate standards. Working closely with the Manager and business partners, this role will support the development and implementation of controls, policies and procedures, strategies, scorecards, monitoring and guidance for Meridian and motusbank’s Fraud Management programs.

Key Responsibilities

Conduct analysis on application, Member, account and transactional data to develop strategies to improve fraud detection while balancing the impact to operations and legitimate Member.
Assist in the analysis of credit card and digital lending applications as required to detect fraud patterns, develop review frameworks for other internal partners, and develop strategies to counter emerging threats.
Monitor existing detection strategies and countermeasures to ensure high rule performance and effectiveness.
Identify enhancements to detection systems and strategies, coordinate implementation with business and technology partners and perform post-implementation tracking.

Support the Manager on:
the development of intelligence on fraud trends to prevent fraud losses;
the development of business requirements within projects;
the assessment of industry/third party tools, from credit bureaus, fintechs, or other vendors, which can advance the Meridian Fraud Management program;
research and insight into industry best fraud management practices;
the identification of system enhancements to improve fraud management.
Maintain productive relationships with all internal and external stakeholders.
Assist the Manager in operationalizing analysis and insights by working with third-party vendors and internal partners to communicate requirements and risks.
Communicate project status, developments, and issues with the Manager and other Fraud leadership proactively.
Create or support the creation of monthly, quarterly and ad-hoc reports covering fraud metrics, fraud strategy performance and trends analysis.
Assist the Manager in the researching, scoping, creation and presentation of business cases required to acquire new tools and resources to augment the Meridian and motusbank Fraud Program.
Support the Fraud Management Team as required to execute on the annual plan, and achieve department goals and key performance indicators.

Knowledge, Skills, and Abilities

Advanced knowledge of Microsoft Office Suite.
Familiarity with fraud investigation techniques and fraud management systems.
Highly developed analytical and problem solving skills. You approach data with the right questions and know how to recognize trends; you develop and use structured approaches to identify root causes and opportunities. You cross validate your findings using data from multiple sources. The capacity to learn new methods of analysis and continual self-directed learning are important.
Excellent written and verbal communication skills.
Comfortable using data manipulation and visualization software such as SQL, SAS, PowerBI, etc
Familiarity with Python or other programing language to complete data aggregation, cleansing, and analysis is an asset.

Education, Designations, Training, and Experience

University degree in a quantitative field (business, economics, statistics, accounting, finance, etc.)
Understanding of the financial services industry, gained through a combination of experience, self-directed research, and learning.
Designations such as the CFE or CFA, or progress towards them, are nice to have.


Member Focus - Personally demonstrating that our Members are our highest priority.

Proactive - Seize the initiative by anticipating needs and identifying opportunities to provide a higher level of service.

Open Communication - Engaging in honest and transparent dialogue to develop mutual understanding, trust and cultivate deeper relationships.

Business Savvy - Continuously acquiring the knowledge needed to do one’s job to the fullest, using internal or external resources and applying the knowledge productively.

Partner Orientation - Initiates opportunities for collaboration and maintains productive relationships to achieve shared goals.

Integrity - Doing the right thing by always acting with openness, honesty and respect.

Talent Developer: nurtures and supports direct reports, identifies strong team members, develops digital and analytical skills in direct reports

Creates a Supportive and Positive Team Environment: creates and contributes to a positive team environment which encourages innovation, risk taking, and learning; speeds up team learning through sharing best practices; leverages the strengths and opportunities of the broader marketing team

Experience the Difference!

Thank you for your interest in Meridian Credit Union. Please note that due to the volume of applications, only those under consideration will be contacted for an interview.

Meridian is committed to providing accommodations for people with disabilities. Should you require an accommodation, we will partner with you to meet your needs.