Fraud Analyst (Finance)

POSITION TITLE: Fraud Analyst

FLSA STATUS: Exempt

SUMMARY:

The Fraud Analyst will be responsible for managing daily tasks associated with Fraud protocols to ensure all regulatory expectations are met and fraud losses are minimized to the reasonable possible extent. Responsibilities include the identification of unusual and/or potentially fraudulent activity, the management of the associated alerts, and the investigation and reporting of internal and external financial crimes against the bank and our customers.

ESSENTIAL JOB FUNCTIONS:

• Complete investigations that may result in Suspicious Activity Reports and apply appropriate risk mitigation measures, while ensuring appropriate documentation of all research and analysis is conducted in accordance with applicable recordkeeping guidelines

• Actively support managers and supervisors with Fraud investigations, while coordinating with team members and other departments to determine the proper course of action in handling potentially suspicious activity as required by applicable global regulatory, law enforcement or, Financial Intelligence Units (FIU)

• Review and analyze transactional data for potential suspicious activity, including those generated from various alert detection systems and processes

• Review and analyze fraud alerts and account activity for unusual or suspected fraudulent activity that derive from the bank's alert detection systems and processes

• Conduct due diligence, evaluate the circumstances, and recommend appropriate risk-based actions for any cases of potential fraud; escalate as necessary

• Collaborate with personnel from other departments when conducting investigations, as appropriate

• Communicate with Fraud management on internal control deficiencies detected during the account monitoring/investigative processes

• Maintain knowledge of the bank's products, services, customers and geographic locations, and the potential fraud risks associated with those activities

• Maintain proficiency in all aspects of Fraud compliance

JOB REQUIREMENTS:

• High school diploma or equivalent required, bachelor's degree in business or related field preferred

• Prior banking experience in either Retail Banking or Compliance preferred

KNOWLEDGE/SKILLS REQUIRED:

• Working knowledge of local, state, and federal regulatory rules and processes governing fraud investigations

• Excellent verbal and written communication skills

• Thorough understanding of laws related to fraud

• Basic understanding of human behavior and performance

• Working knowledge of equipment, policies, procedures, and strategies needed to support fraud prevention and investigative operations

• Ability to identify discrepancies and problems

• Proficient in Microsoft Office Suite or related software

• Ability to use Verafin or related software

PHYSICAL AND MENTAL QUALIFICATIONS:

• Standing, walking, bending and stooping required

• Must be able to sit at a desk for long periods of time and use a computer

• Must be able to occasionally move or lift up to 10 pounds

• May be asked to work supplemental hours periodically

• Limited travel required occasionally during and after business hours