- Review and analyze activity flagged by the credit union's monitoring systems to determine if further investigation or action is necessary.
- Determine next steps and communicate recommended actions to appropriate team members.
- Collaborate with personnel from other departments when conducting investigations, as appropriate.
- Communicate any internal control deficiencies detected.
- Prepare Suspicious Activity Reports (SAR) in accordance with departmental procedures and templates.
- Assist in the preparation and submission of all Currency Transaction Reports (CTR).
- Manage the process of researching and collecting documentation for subpoenas and other legal and/or law enforcement requests.
- Monitor OFAC screening and 314(a) & 314(b) information requests.
- Monitor industry fraud trends and research new fraud mitigation tools.
- Apply expanded knowledge base of fraud schemes to assist in the handling of specialized fraud functions.
- Assist in the preparation of monthly and quarterly reports for the Board and/or Executive Management.
- Utilize various systems to identify fraudulent or suspicious checks and bill pay items as well as dark web monitoring Review and analyze various internal reports to identify potentially suspicious or fraudulent activity.
- Assist Digital Banking Team in review of applications received for accounts opened online.
- Serve as subject matter expert and liaise with other departments with regard to fraud detection, risk exposure and suspicious activities.
- Liaise and work with local law enforcement.
- Assist in maintaining departmental policies and procedures.
- Handle any other duties or special projects as assigned.
- Back up other departmental staff as necessary.
- Achieves a minimum of "Satisfactory" rating on internal audits and examinations.
- Accomplishes the credit union's mission by completing relevant duties as needed when requested by management or other staff members.
- Strong knowledge of Bank Secrecy Act, USA PATRIOT ACT, and applicable regulations (including Regulation CC and Regulation E.)
- Strong knowledge of operational and fraud management lifecycle, industry trends and prevention techniques
- Proven skills and experience with bank fraud, financial crimes and compliance functions
- Experience with Verafin Financial Crime Management platform preferred
- Working knowledge and understanding of banking and lending products and services and core banking systems Advanced computer literacy skills with proficiency in Microsoft Office as well as internet research techniques
- Ability to meet deadlines and manage multiple tasks and projects in a fast-paced environment
- Strong verbal and written communication skills.
- Skill in gathering, analyzing and compiling complex financial and statistical data.
- Sound analytical and problem solving skills.
- Ability to exercise tact and responsibility with handling confidential information
- Ability to work with minimal supervision of daily activities
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BSA & Fraud Analyst - Medford, United States - Suffolk Credit Union
Description
Join our Risk Management team as the BSA & Fraud Analyst and start empowering your possible
As a leader in the industry, Suffolk Credit Union offers superior value, unique products and personal service so our members have access to the best banking solutions around. And, just as we value our members, we value our employees
The Fraud & BSA Analyst is responsible for managing daily tasks associated with fraud protocols to ensure all regulatory expectations are met and fraud losses are minimized as well as supporting all aspects of BSA/AML/OFAC compliance, including transaction monitoring, sanctions screening, SAR filing and CTR processing.
This position has an on-site requirement within a hybrid work environment.
Responsibilities:
Qualified candidates will have high school diploma or equivalent certification. Bachelors Degree in a business related field from an accredited institution is preferred. Two (2) to four (4) years experience in fraud or BSA at a financial institution is required along with BSA or Fraud-related certification or willingness to obtain certification within two years of hire.
Suffolk Credit Union provides equal employment opportunities to all applicants and prohibits discrimination of any type on the basis of actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth and pregnancy-related conditions), gender identity or expression (including transgender status), sexual orientation, marital status, military service and veteran status, physical or mental disability, genetic information or any other characteristic protected by applicable federal, state or local laws.
The compensation range provided is in compliance with state specific laws. Factors that may be used to determine your actual rate of pay include your specific skills, years of experience, and other qualifications.
