BSA Fraud Analyst
About The Position
River Run is a shared services organization supporting its banking affiliates: Newburyport Bank, Pentucket Bank, and Rollstone Bank & Trust. The BSA Fraud Analyst ensures regulatory compliance and helps protect the Bank and its customers from financial crimes. The role monitors, investigates, and reports suspicious activity involving fraud, money laundering, and other financial crimes. It independently analyzes transaction data, reviews alerts, and investigates cases in accordance with applicable regulations and internal policies to support the Bank’s AML/CFT and fraud prevention programs. The analyst also stays current on Bank products, services, procedures, policies, regulatory changes, industry trends, and compliance requirements. The role helps ensure adherence to federal and state laws and Bank policies, minimizes risk, safeguards the Bank’s interests, and verifies transactions and account balances as applicable.
Requirements
- High school diploma or equivalent.
- 2–3 years of experience in AML/CFT or fraud detection within a financial environment.
- Basic knowledge of BSA/AML laws and regulations, including the USA PATRIOT Act, Office of Foreign Assets Control (OFAC), the AML Act, and Financial Crimes Enforcement Network (FinCEN) guidelines.
- Strong analytical and problem-solving skills.
- Strong attention to detail.
- Proficiency with transaction monitoring systems and office applications, including word processing, spreadsheets, and presentation software.
- Ability to work independently and manage multiple priorities within strict deadlines.
Responsibilities
- Monitor customer transactions for suspicious activity using AML software and fraud detection tools.
- Research and analyze alerts and cases to assess whether activity is legitimate or may require a Suspicious Activity Report (SAR).
- Collaborate with internal departments to resolve fraud cases and conduct investigations.
- Administer the preparation of Currency Transaction Reports (CTRs).
- Conduct new customer and enhanced due diligence (EDD) reviews in accordance with the institution’s AML/CFT policy.
- Keep abreast of regulatory changes and industry trends related to financial crimes and compliance.
- Stay current on Bank products, services, procedures, policies, and applicable regulatory and compliance requirements by attending team meetings, completing mandatory training on schedule, and applying knowledge in daily operations.
- Ensure adherence to federal and state laws, regulations, and Bank policies to prevent violations, minimize risks, and safeguard the Bank’s interests.
- Verify transactions and account balances for compliance with Bank policies, state and federal regulations, and the Bank Secrecy Act, as applicable.
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What This Job Offers
Job Type
Full-time
Education Level
High school or GED
