Position Summary:
The Fraud Investigator / Loss Mitigation Analyst is responsible for identifying, investigating, and resolving fraudulent activities and losses related to auto loan originations and servicing across a nationwide portfolio. This role plays a critical part in mitigating risk by conducting in-depth investigations of suspected fraud, collaborating with internal departments and external agencies, and developing strategies to prevent future occurrences. The ideal candidate will have a strong understanding of auto lending, credit risk, dealer relations, and asset recovery.
Key Responsibilities:
Fraud Investigation
- Analyze auto loan applications, funding packages, and account activity for indicators of fraud, including identity theft, straw purchases, income/occupancy misrepresentation, synthetic identities, and forged documents.
- Investigate dealer misconduct or collusion, including powerbooking, payment packing, fake down payments, and document tampering.
- Conduct post-funding reviews and contract audits using internal and third-party data sources (e.g., LexisNexis, TLO, Clear, MVR).
- Interview applicants, dealers, and internal staff to gather statements and verify facts.
- Prepare detailed fraud case reports, summaries, and recommendations for internal stakeholders and legal counsel.
Loss Mitigation & Recovery
- Analyze early payment defaults, charge-offs, and skip accounts to determine root causes and possible fraud involvement.
- Collaborate with Repossession and Skip Tracing teams to locate and recover collateral.
- Recommend and support litigation efforts against fraudulent dealers or borrowers.
- Track and report financial impact of fraud and loss mitigation efforts on recoveries.
- Monitor and follow up on restitution payments, police reports, and insurance claims when applicable.
Prevention & Compliance
- Assist in developing and enhancing fraud detection rules, models, and early warning indicators in collaboration with Credit Risk and Decision Science.
- Support the development and delivery of fraud prevention training to internal teams (Sales, Funding, Credit, Servicing).
- Maintain accurate records and documentation in accordance with internal policies and regulatory requirements.
- Stay current on fraud trends, schemes, and technologies in auto lending.
Qualifications:
Education & Experience
- Bachelor’s degree in Criminal Justice, Finance, Business Administration, or related field preferred.
- 3+ years of experience in auto finance, consumer lending, fraud investigations, or loss prevention.
- Experience in working with indirect auto lending and dealer fraud is highly preferred.
Knowledge & Skills
- Strong knowledge of fraud typologies in subprime and prime auto lending environments.
- Familiarity with credit bureaus, vehicle valuation tools (e.g., NADA, KBB, BLACKBOOK, MMR), DMV documentation, and funding practices.
- Proficient in investigative tools such as LexisNexis, Accurint, CLEAR, TLOxp, CARFAX, and skip tracing databases.
- Understanding of relevant laws and regulations, including FCRA, UDAAP, GLBA, and ID theft laws.
- Ability to analyze large sets of data to identify anomalies or patterns indicative of fraud.
- Excellent written and verbal communication skills for case reporting and cross-functional collaboration.
- High level of integrity, confidentiality, and sound judgment in high-stakes situations.
Preferred Certifications (a plus, but not required):
- Certified Fraud Examiner (CFE)
- Certified Anti-Money Laundering Specialist (CAMS)
- Skip Tracer Certification
- Law Enforcement or Regulatory Agency experience (a plus)
Work Environment & Travel:
- Primarily office-based; occasional travel required for dealer audits, court testimony, or field investigations (up to 10%).
Compensation & Benefits:
- Competitive salary based on experience.
- Annual bonus eligibility.
- Health, dental, and vision insurance.
- 401(k) with company match.
- Employee Stock Ownership Plan (ESOP): fully funded by the company.
- Paid time off and holidays.
- Professional development reimbursement.
Salary: $24.00 - $29.00 per hour + Bonus
Veros Credit, LLC is an equal opportunity employer.
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