Fraud Specialist

Company: Park State Bank
Location: Minneapolis
Posted on: June 1, 2025

Job Description:

Description:
CORE VALUES:Park State Bank's Core values are GROWTH, TEAMWORK, RESPONSIVE, TRANSPARENT, and INNOVATIVE. We endeavor to live by these values in all that we do!
MISSION:The mission of Park State Bank is to deliver exceptional client service, strategic banking solutions and a community-friendly experience.
POSITION SUMMARY: The Fraud Specialist will play a critical role in safeguarding our organization and clients against fraudulent activities by supporting the development and implementation of effective fraud management processes and procedures. As a newly created position, this role requires a motivated and proactive individual who brings fraud experience and a strong desire to build, improve, and influence fraud-related initiatives.Reporting to the Risk Officer, the Fraud Specialist will actively monitor transactions, investigate suspicious activity, and work collaboratively across departments to strengthen the bank's fraud detection and prevention programs. This position will also work directly with clients who have experienced or reported fraud, helping them navigate the resolution process with professionalism and care. The ideal candidate is a self-starter who is confident working independently, offering insight and recommendations, and taking ownership of their work within an evolving framework. Strong customer service, communication, and analytical skills are essential.
PRIMARY RESPONSIBILITIES AND ACCOUNTABILITIES:

• Program Development Support: Partner with the Chief Risk Officer and other functional leaders to provide input into the design of fraud prevention strategies and frameworks, offering recommendations based on fraud trends and prior experience.
• Fraud Detection: Monitor and analyze transactions, customer accounts, internal reports, system alerts, and financial activity to identify, detect, and help minimize the impact of potential fraudulent behavior.
• Investigation: Conduct thorough investigations of suspicious activities, including researching transaction histories and customer profiles to determine the validity of claims.
• Advising: Act as a resource for the whole organization regarding fraud-related matters, providing timely guidance and support while escalating complex situations appropriately.
• Reporting: Prepare and submit detailed reports on suspected fraudulent activities, documenting investigation results and recommendations. Ensure fraud incidents are tracked and closed appropriately.
• Communication: Collaborate with internal departments including Retail, Commercial Banking, Risk, BSA, Deposit Operations, and Information Technology to share relevant information and coordinate fraud prevention and remediation efforts.
• Customer Service: Serve as a point of contact for clients impacted by fraud. Communicate both expeditiously and empathetically to gather information, explain next steps, and assist with resolving issues while maintaining a high level of client trust and satisfaction.
• Compliance: Ensure compliance with applicable laws, regulations, and internal policies related to fraud investigation and reporting.
• Evidence Collection: Maintain a secure and organized system for storing investigation-related documentation and evidence.
• Training and Awareness Education: Support fraud education efforts by helping staff and customers recognize common fraud schemes and promoting best practices for protecting sensitive information.
• Continuous Improvement: Stay informed of current fraud trends, tools, and tactics. Actively recommend enhancements to internal controls and detection measures.Other Skills and Abilities:

• Demonstration of strong analytical and critical thinking skills.
• Attention to detail and ability to work independently.
• Knowledge of relevant fraud detection tools and software.
• Familiarity with banking regulations and security protocols.
• Polished and strong communication, written and listening skills.
• Ability to maintain confidentiality and manage sensitive information.
• Resourceful, well-organized and ability to multitask.PERFORMANCE MEASURES:
  • Timely execution of Rocks, To-Dos, active participation in L10 meetings.
  • Demonstration of Core Values.
  • Fraud Loss Volume.
  • Audit Performance.WORKING CONDITIONS:Work is performed largely within the bank with limited chance for personal injury. Prolonged and frequent mental and visual concentration required. Periodic stressful situations in response to multiple priorities within established deadlines. Work hours are generally during normal business hours. Unscheduled evening and weekend work may be needed to meet the needs of customers and employees. Occasional travel between offices and out-of-town/overnight business travel required. Must be able to lift and move up to 20 pounds of office supplies and equipment. Some bending, turning, and twisting required. Serves as a representative of the bank at appropriate functions.
    GENERAL NOTICE:This position description describes the general nature and level of work performed by the employee assigned to this position and should not be interpreted as all inclusive. It does not state or imply that these are the only duties and responsibilities assigned to the position. The employee may be required to perform other job-related duties. All requirements are subject to change and to possible modification to reasonably accommodate individuals with a disability. This position description does not constitute an employment agreement between the bank and employee and is subject to change by the employer as the needs of the bank and requirements of the position change.
    ROLE QUALIFICATIONS:Experience:
    • Minimum 3 years of experience in financial services with previous experience in fraud prevention, detection or investigation strongly preferred.
    • Proven ability to work independently, manage investigations from start to finish, and contribute to team-based improvement efforts.
      Requirements:Education:
      • Preferred: 2-year or 4-year accounting, business, criminal justice, or related degree is preferred.
      • Preferred: Certified Fraud Specialist (CFS).
        
        
        
        Compensation details: 52000-65000 Yearly Salary
        
        
        
        PIaa59774e3cb5-37248-37711159

Keywords: Park State Bank, Lakeville , Fraud Specialist, Other , Minneapolis, Minnesota