BSA and Fraud Analyst

SmartBiz Bank • Northbrook, IL

2d • $70,000 - $75,000 • Onsite

About The Position

The BSA and Fraud Analyst supports SmartBiz Bank’s BSA/AML and OFAC compliance programs and fraud prevention activities. The role is based in Northbrook, Illinois, and requires working in the office five days a week. It reports to the Bank’s BSA Officer and supports compliance with Bank policies, procedures, and applicable regulatory requirements.

Requirements

• At least 2 years of related work experience in compliance, fraud, anti-money laundering, or Bank Secrecy Act compliance in the financial services industry.
• Knowledge of Bank Secrecy Act requirements, including CTRs, OFAC, CDD, and SARs, and basic knowledge of banking regulations.
• Experience with banking systems and anti-money laundering monitoring tools, such as Abrigo BAM+ or other AML monitoring systems.
• Understanding of financial crime detection and prevention techniques.

Responsibilities

• Support the BSA Officer in implementing and maintaining the Bank’s BSA/AML and OFAC Compliance Programs.
• Monitor daily data imports into Abrigo BAM+ for accuracy and completeness, and investigate and resolve validation errors or transmission issues.
• Review and investigate transaction monitoring alerts and cases, document findings, and escalate matters requiring further review.
• Investigate suspicious activity, gather supporting documentation, prepare investigation narratives, and draft initial and continuing SARs for the BSA Officer’s review and approval.
• Perform periodic suspicious activity follow-up reviews in accordance with regulatory requirements and Bank procedures.
• Review cash transactions, prepare CTRs, and verify reporting information for timely filing with FinCEN.
• Monitor customers exempt from CTR reporting to ensure continued eligibility and compliance.
• Conduct and document OFAC sanctions screening and Section 314(a) information-sharing reviews, investigate potential matches, and escalate findings.
• Review new consumer and business account documentation, verify customer risk ratings, and identify potential BSA/AML compliance concerns.
• Conduct periodic reviews of medium- and high-risk customers, including customer profiles, account activity, and supporting documentation.
• Investigate potential fraud involving loan applications, altered or fraudulent documents, identity theft, check fraud, ACH fraud, and other suspicious activities; document findings and escalate significant concerns to the BSA Office.
• Support regulatory examinations, independent audits, and internal compliance reviews by preparing requested documentation and supporting corrective actions.
• Perform additional BSA/AML, OFAC, fraud prevention, and compliance-related duties or special projects as assigned.

Benefits

• Competitive compensation and equity participation where applicable.
• Employer-paid medical, dental, vision, life, and disability insurance for eligible employees and dependents.
• 401(k) retirement plan.
• Flexible vacation policy.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: No Education Listed