BSA and Fraud Analyst

SmartBiz Loans • Northbrook, IL

1d • Onsite

About The Position

The BSA and Fraud Analyst supports the Bank’s BSA Officer in implementing and maintaining the Bank’s BSA/AML and OFAC Compliance Programs in accordance with Bank policies, procedures, and applicable regulatory requirements. The position is based in Northbrook, Illinois, and requires working in the office five days a week.

The role monitors transaction activity and customer risk, investigates potentially suspicious activity and fraud, prepares supporting documentation and draft regulatory reports, and assists with examinations, audits, and compliance reviews. It reports to the Bank’s BSA Officer.

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 regulatory 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 imports into the Abrigo BAM+ BSA/AML monitoring system for accuracy and completeness; investigate and resolve validation errors or transmission issues.
• Review and investigate transaction-monitoring alerts and cases, document findings, and escalate matters requiring further review.
• Conduct suspicious activity investigations, gather supporting documentation, prepare narratives, and draft initial and continuing SARs for the BSA Officer’s review and approval.
• Perform periodic 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 and review their 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 concerns.
• Conduct periodic reviews of medium- and high-risk customers, including their 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 activity; document findings and escalate significant concerns to the BSA Office.
• Assist with 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 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: Mid Level
• Education Level: No Education Listed