Fraud Analyst I (Hybrid)

Job Description

Overview

***After the initial training period, this is a hybrid role, working onsite in our Sioux Falls, SD office.***

The Fraud Analyst I is responsible for the initial investigation of suspicious cardholder activity flagged through internal alerts and system reports. This role plays a critical role in frontline fraud detection, documentation, and escalation, working in direct coordination with Fraud Operations leadership. The ideal candidate demonstrates attention to detail, strong critical reasoning, and the ability to apply Fraud and AML procedures consistently across diverse programs and client profiles.

Responsibilities

Essential Functions

1. Reviews transaction alerts and fraud monitoring reports to identify patterns of unusual activity.
2. Investigates cardholder activity using processor tools, internal databases, public web sources, and fraud platform workflows.
3. Blocks or escalates accounts when necessary, following established documentation protocols.
4. Adds individuals to the Restricted Customer Database as necessary to avoid repeat offenders.
5. Submits Unusual Activity Referrals (UARs) to FCRM based on investigation outcomes and escalate as needed.
6. Responds to incoming documentation and inquiries via department inboxes, ensuring timely and professional communication.
7. Monitors ongoing activity for blocked accounts and ensure resolution steps are executed per bank procedures.
8. Recommends process or reports improvements based on observed fraud typologies or operational gaps.
9. Maintains accurate notes, tagging, and classification in all case management systems.
10. Performs other duties as assigned.

Qualifications

Education/Experience Requirements

• Associate degree or equivalent combination of training and experience.
• 0-2 years of experience in banking, fraud investigation, or a financial operations setting.
• Proficiency in Microsoft Office Suite, especially Excel and Outlook.
• Strong written and verbal communication skills.
• Ability to multi-task in a fast-paced, team-based environment.

Preferred Qualifications

• Undergraduate degree in Business, Criminal Justice, Finance, or a related field and/or at least 2 years of experience working Fraud alerts or Fraud Investigations.
• Familiarity with AML, BSA, or Reg E guidelines.
• Experience using processor portals (e.g., i2c, Galileo, FIS) or fraud platforms (e.g., Visa Risk Manager, Actimize).
• Exposure to card fraud schemes, phishing indicators, or synthetic identity detection.
• No travel required.

Additional Information

This job will be open and accepting applications for a minimum of five days from the date it was posted.

Working at The Bancorp Bank, N.A. and Benefits Information: https://thebancorp.com/company/join-our-team/

Company Culture & Background Screening

Company Culture at The Bancorp Bank: https://www.thebancorp.com/company/company-culture/

The Bancorp Bank, N.A. is an EQUAL OPPORTUNITY EMPLOYER and will not discriminate on the basis of race, color, religion, gender, gender identity, sexual orientation, pregnancy, citizenship, national origin, age, disability, genetic information, veteran status or other protected category with respect to recruitment, hiring, training, promotion, and other terms and conditions of employment.

Employment with The Bancorp Bank, N.A. includes successfully passing a background check including credit, criminal, education, employment, OFAC, and social media background history.

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