Sr. BSA & Fraud Analyst

Description

The Senior BSA and Fraud Analyst assists in the implementation and administration of all aspects of the Bank Secrecy Act compliance program of the Bank, under the guidance of the VP BSA and Risk Officer. This position performs or oversees various quality control reviews and monitoring pertaining to the Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering Program, OFAC, and Customer Identification Program compliance using industry standards and regulatory guidance to ensure the Bank’s compliance efforts are maintained on a daily basis.  

Essential Functions

Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.

• Ensures compliance with the Bank Secrecy Act/Anti-Money Laundering/OFAC BSA/AML/OFAC) and related laws and regulations.
• Responsible for analyzing transactions and reviewing account cases across all business lines for potential Bank Secrecy Act/Anti Money Laundering and fraud red flags.
• Prepares and maintains documents and BSA/AML and fraud reports for management.
• Maintain current knowledge of BSA/AML/OFAC and fraud regulations, guidelines, best practices, and trends.
• Prepare and file Currency Transaction Reports (CTRs) and monitor cash sales of monetary instrument reports.
• Investigate potential fraud and suspicious activity, recommend disposition, and prepare SAR reports for filing with regulatory agencies.
• Assists in the monitoring of money service businesses and other types of high-risk businesses and performs appropriate due diligence before new accounts are opened.
• Assists with all OFAC and bi-weekly FinCEN 314(a) searches and any other government lists that may be issued.
• Assist with investigations and maintain support documentation for SAR case management.
• Ensure the integrity of the Bank’s anti-money laundering system (data, rules, etc.) for all fraud agents and cases, and written procedures are an accurate reflection of the Bank’s processes.
• Review fraud-related guidance and recommend changes to risk assessments, policies and/or procedures as necessary.
• Assist with the review and updating of the fraud risk assessment.
• Determine appropriate actions to be taken to control potential losses and maintain compliance with regulatory reporting requirements.
• Conducts timely and thorough high-risk customer reviews and assists in the maintenance of the customer due diligence process in accordance with risk.
• Provides input and feedback on current and potential fraud risks and recommends mitigating controls.
• Assists in the tracking and resolution of fraud cases, including recovering funds, filing police reports as appropriate and going to court when requested.
• Additional duties as assigned.

Physical Demands and Work Environment

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to sit and talk or hear, reach with hands and arms; and stoop, kneel, or crouch. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision, and the ability to adjust focus.

An Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.

Requirements

• College degree preferred, or equivalent combination of education and relevant banking experience. 
• At least three years of general banking or regulatory agency experience, with experience in fraud monitoring and case resolution and Bank Secrecy Act compliance.
• Experience dispositioning fraud cases, including working with police departments, attending court appearances, recovering monies owed.
• Experience analyzing reports and monitoring activity to identify and resolve fraud.
• Verafin experience preferred.
• Strong knowledge of bank operations.
• ACAMS and Fraud certifications preferred, or the willingness and ability to obtain them.