Fraud Analyst

Newtek One•,

1d•$60,000 - $85,000•Onsite

About The Position

Newtek Bank, N.A. is looking for a Fraud Analyst to support the compliance department with the day-to-day administration of the Bank's financial crimes program, established procedures, and internal controls. This position may function in more than one of the following areas: decision automated monitoring fraud alerts, escalating appropriate alerts for investigation, documenting the outcome of the investigation; preparing and filing required regulatory reports (SAR) to FinCEN; identifying and investigating incidents of fraud.

Requirements

Working knowledge of bank operations, policies, and procedures, with ability to research, analyze and recommend policy and procedural enhancements.
Working knowledge of fraud and financial crimes banking laws, regulations, operations and procedures.
Strong analytical capability and the ability to identify potential concerns, recommend operational improvements to management and initiate action.
Excellent communication (verbal and written), organizational, and follow-up skills.
Must exhibit the ability to work both independently and in a team oriented environment.
The ability to negotiate and collaborate with others, initiate action, adapt to change and accept challenging assignments is essential.
Proficiency in Microsoft Office suite software, including but not limited to Excel, Word, PowerPoint, and Outlook, as well as Teams.
3+ years of financial crimes experience at a financial institution or as a consultant or regulator.
Bachelor's Degree required (may consider commensurate work experience)

Nice To Haves

Knowledge of Alloy solutions, Velocity FinCrime Software and other fraud monitoring tools.

Responsibilities

Monitor and analyze banking transactions for signs of suspicious or fraudulent activity.
Use advanced fraud detection tools and software to identify potential fraud patterns.
Develop and implement strategies to prevent fraud, including rule modifications and new procedures.
Conduct thorough investigations of suspected fraudulent activities.
Gather and analyze data from various sources to build cases and support findings.
Prepare detailed suspicious activity reports (SARs) on investigative findings and recommend actions to mitigate risks.
Work closely with internal teams such as IT, compliance, legal, and operations to address and resolve fraud incidents.
Report findings and trends to senior management and suggest improvements to fraud prevention strategies.
Participate in regular meetings to review fraud metrics and discuss ongoing cases.
Stay updated on the latest fraud trends, techniques, and regulatory requirements.
Assist in training bank staff on fraud awareness and prevention techniques.
Ensure all fraud detection and investigation activities comply with regulatory requirements and internal policies.
Maintain accurate and up-to-date records of all fraud-related activities and investigations.