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Form of workJob Description
This position is responsible for reviewing transactions for possible fraud and/or suspicious activity. The BSA & Fraud Analyst position will identify unusual behavior patterns on account activity. Requires the ability to work with processes based on varying and unique results. In addition, attention to detail and excellent analytical skills to identify suspicious and/or fraudulent activity. The individual must practice sound judgment and observe confidentiality with all information at hand.
Job Type: - Full-time Hybrid / Remote
Essential Functions
Job-Specific Functions
• Detect suspicious activity from various BSA and fraud alerts, reports, and systems.
• Determine if account blocking or other actions are necessary to mitigate losses.
• Provide primary and backup coverage on processes, as needed.
• Complete investigation and keep detailed documentation on confirmed suspicious activity within Verafin.
• Collaborate with other departments, other financial institutions, law enforcement authorities or members when researching and resolving suspicious activity, under the direction of the Director and/or Fraud Manager.
• Identify suspicious activities that require a SAR filing and collaborate with the Director and/or Fraud Manager for filing.
• Develop and maintain collaborative working relationships with internal and external clients by applying excellent verbal, written and telephone communication skills.
• Make recommendations for revisions that would improve We Florida Financials’ ability to deter fraud and suspicious activity.
• Provide primary and backup coverage on processes, as needed.
• Participate in team meetings.
• Perform all aspects of OFAC & 314(a) monitoring.
• Prepare and submit CTRs and perform CTR Exemption processes.
• Maintain up-to-date knowledge of all systems.
• Actively pursue continuing education, reading, and self-development to enhance skills.
• Maintain compliance knowledge of required regulations.
• Monitor completion of CDD, CIP and KYC performed by the front-line personnel.
• Perform enhanced due diligence of high-risk members and products.
• Understand and follow regulatory guidelines.
Other Functions
• Maintain a mutual communication system with Fraud Supervisor / Fraud Manager
• Project a positive professional image for WeFF in community/industry affairs
• Attend seminars, league meetings, conferences, and conventions for self-development and promotion of WeFF
• Regular attendance and punctuality as a full-time employee to exercise all the essential functions.
• Perform specific and delegated duties as assigned by Fraud Supervisor / Fraud Manager
Job Qualifications
Knowledge of
• Fundamentals of the financial industry, including an understanding of the Federal Reserve System, the check clearing process, the legal theory of negotiable instruments, and Uniform Commercial Code
• Credit Union policies, products, services, regulations, and procedures
• In-house computer system
• Business English, spelling, grammar, composition, and arithmetic
Ability to
• Understand/follow complex written and oral instructions.
• Comprehend complex functions/procedures.
• Prepare and maintain confidential records and reports.
• Gather, assemble, correlate, and analyze facts and develop solutions.
• Analyze statistical and financial data.
• Prioritize multiple requests.
• Present a positive professional image and always maintain professional composure.
• Interact with staff at all levels of the organization.
• Ability to work within precise standardized guidelines with the ability to make decisions and take initiative to resolve problems or unique circumstances.
Education/Experience
• Two years in financial institution or two years of experience in a related field with equal responsibilities is acceptable.
• Preferred but not required certifications include CAMS, CFE, CUCE (Credit Union Compliance Expert) through CUNA or NCCO (NAFCU Certified Compliance Officer), and BSACS (Bank Secrecy Act Compliance Specialist) through CUNA.
• Formal training should be supplemented with continuing education and self-development programs.
