Fraud Analyst I

Towne Family of Companies • Suffolk, VA

2d • Onsite

About The Position

This position is part of the Fraud Management Department, which is integral to TowneBank’s efforts in combating money laundering and fraud. The Fraud Department assists the Bank’s businesses in preventing, identifying, and reporting check and deposit fraud through implemented processes designed to protect the Bank and its members. The Fraud Investigations team supports branches and other lines of business in investigating fraudulent and suspicious activity. The Fraud Analyst I’s primary objective is to investigate anomalous activity through internal referrals and escalated system-generated alerts for suspicious check and deposit fraud activity. The Analyst is responsible for preparing well-written narratives, obtaining documentation to support investigation results, and preparing Suspicious Activity Reports (SARs) when applicable.

Requirements

• 1-3 years of banking experience and working knowledge of branch and/or loan operations.
• 1 year of fraud, risk management, or compliance experience.
• Ability to comply with regulatory deadlines.
• Knowledge of bank products and services.
• Ability to handle confidential customer information with discretion.
• Ability to work independently within a team setting.
• Detail oriented with good organizational skills.
• Strong written and verbal communication skills.
• Working knowledge of Microsoft Office Suite (Outlook, Excel, Word).
• Adheres to applicable federal laws, rules, and regulations including those related to Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA).

Nice To Haves

• Previous skills with fraud transaction review.
• Demonstrated ability to identify fraudulent checks and deposits in a retail setting.
• General knowledge of federal requirements under the Bank Secrecy Act and familiarity with FFIEC BSA/AML Manual guidelines.
• Experience in a financial institution with asset size $10B and over.

Responsibilities

• Conduct investigations of unusual activity patterns identified through escalated alerts and internal referrals using internal bank systems, open-source searches, and transaction history analysis.
• Recommend case decisions to management while documenting results of case investigations by preparing supporting documentation and SAR forms to be filed with FinCEN.
• Conduct 90-day follow-up reviews to determine if there is continued suspicious activity.
• Monitor identified compromised accounts.
• Provide support to branch personnel on fraud incidents, completing reports and affidavits.
• Review and process internal SAR Referral notifications regarding fraudulent activity submitted by branch/department personnel.

What This Job Offers

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