BSA/Fraud Analyst

First State Bank and Trust • Monticello, IL

2d • Onsite

About The Position

First State Bank is seeking a BSA/Fraud Analyst to support the Bank's BSA/AML and fraud monitoring programs. This position is responsible for reviewing and investigating suspicious activity, monitoring financial crime risks, preparing regulatory filings, and identifying emerging fraud trends. The ideal candidate will have hands-on experience with Verafin and a strong understanding of transaction monitoring, investigations, and fraud prevention. The BSA/Fraud Analyst serves as a key resource to management, branches, and Deposit Operations by helping identify, investigate, and mitigate financial crime risks while supporting compliance with applicable regulatory requirements. This role offers the opportunity to help shape and strengthen the Bank's fraud monitoring and prevention efforts while gaining exposure to a broad range of BSA/AML and fraud-related activities.

Requirements

• 2–5 years of experience in banking, fraud, BSA/AML, or related operational risk role
• Hands-on experience utilizing Verafin for transaction monitoring, alert review, investigations, case management, CTR processing, customer risk monitoring, or related BSA/AML activities required.
• Strong analytical and investigative skills with attention to detail
• High level of integrity and ability to handle confidential information

Nice To Haves

• Experience with fraud monitoring, fraud investigations, payment fraud, business email compromise, elder financial exploitation, ACH fraud, wire fraud, check fraud, or related financial crime activities strongly preferred.

Responsibilities

• Review and investigate BSA/AML and fraud-related alerts, suspicious activity, customer risk alerts, and other monitoring exceptions using Verafin and related systems.
• Conduct investigations, document findings, prepare supporting documentation, and draft SAR narratives for review by the BSA Officer.
• Prepare and file Currency Transaction Reports (CTRs) and perform other BSA/AML monitoring and reporting activities.
• Perform customer risk assessments, Enhanced Due Diligence (EDD) reviews, and ongoing monitoring of higher-risk customer relationships.
• Monitor fraud risks, including ACH, wire, payment, and other high-risk transactions, and assist with fraud investigations and escalation activities.
• Assist with administration and optimization of the Verafin platform, including identifying opportunities to improve monitoring effectiveness and fraud detection capabilities.
• Monitor emerging fraud trends and financial crime risks and provide recommendations regarding fraud prevention, monitoring practices, and internal controls.
• Assist with regulatory examinations, audits, and other compliance-related reviews and requests.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree