Fraud Analyst I
About The Position
This position is a part of the Fraud Management Department, a team that is integral to TowneBank’s efforts in the fight against money laundering and fraud. The Fraud Department assists the Bank’s businesses to prevent, identify, and report check and deposit fraud through processes implemented to protect the Bank and its members. The Fraud investigations team works to support the branches and other lines of business in the investigation of 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 check and deposit suspicious fraud activity. The Analyst is responsible for preparing well written narratives, obtaining documentation to support the results of investigations conducted, 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, helpful if previous skills with fraud transaction review.
- 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).
- Perform other duties as assigned.
- 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
- 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.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
No Education Listed
