BSA & Fraud Analyst
- Employer
- Alerus Financial
- Location
- Minnesota
- Salary
- Join our team!
View more
- Industry
- Financial Services and Banking
- Role
- Business Analyst
- Job Type
- Long-Term
- Hours
- Full Time
Job Details
This position is responsible for reviewing transactions for possible fraud and suspicious activity. The BSA & Fraud Analyst position will identify unusual transaction behavior patterns on accounts. Other responsibilities include reporting and record keeping. The structure of this position requires the ability to work with processes based on varying and unique results and circumstances, not on defined instructions. This position requires attention to detail, as well as excellent analytical skills to identify suspicious and/or fraudulent activity. This position requires the individual to exercise sound judgment and to observe the highest degree of confidentiality in the handling of information. This position operates under the guidance of the Senior BSA & Fraud Analyst, BSA Officer, and/or Fraud Manager.
Essential Responsibilities:
Job Function 1: Identify and Investigate Transactions for Suspicious Activity - 60%
- Detect suspicious activity from various BSA and fraud alerts, reports and systems.
- Determine if account blocking or other actions are necessary to neutralize loss exposure.
- Provide primary and backup coverage on processes, as needed.
- Document and maintain assigned procedures.
- Complete investigation and keep detailed documentation on confirmed suspicious activity within Verafin.
- Collaborate with other Alerus departments, other financial institutions, law enforcement authorities or customers when researching and resolving suspicious activity, under the direction of the Senior BSA & Fraud Analyst, BSA Officer and/or Fraud Manager.
- Identify suspicious activities that require a SAR filing and collaborate with the Senior BSA & Fraud Analyst, BSA Officer and/or Fraud Manager for filing.
- Investigate Identity Theft Red Flag reports and document findings.
- 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 Alerus' ability to deter fraud and suspicious activity
Job Function 2: Team Support - 20%
- Provide primary and backup coverage on processes, as needed.
- Provide one-on-one training on specialized processes to ensure adequate backup coverage.
- Participate in team meetings.
- Create, update, and maintain written procedures in R&R database.
- Assist with team, lending, or company-wide projects, as required.
Job Function 3: Perform Procedures to Comply with BSA/AML Requirements - 10%
- Perform all aspects of OFAC & 314(a) monitoring.
- Prepare and submit CTRs and perform CTR Exemption process.
- Document processes.
- Monitor completion of CDD, CIP and KYC performed by the front line personnel.
- Perform enhanced due diligence of high risk customers and products.
- Understand and follow regulatory guidelines.
Job Function 4: Department, System, and Industry Knowledge - 10%
- Attend all mandatory and field specific training as directed by the performance plan.
- 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.
Position Requirements:
Qualifications:
- Associate's degree or equivalent combination of education and/or related financial industry experience.
- Previous banking or financial services experience required.
- Preferred Fraud or BSA/AML experience.
- Possesses investigative and research skills using various systems.
- Excellent written and verbal skills.
- Strong computer skills.
Personal Characteristics:
- Positive, client-centric attitude.
- Self-motivated, confident and eager to take on new challenges.
- Attention to detail with a strong commitment to quality.
- Professional appearance and attitude.
- Commitment to continued learning.
Physical Demands: (must be met with or without a reasonable accommodation)
- Extended periods of time sitting at a desk and using office equipment.
- Ability to operate a personal computer/laptop for approximately 8 hours per day.
- Extended time is spent reviewing physical and electronic documents.
- The employee is occasionally required to stand, walk, reach with arms and hands, climb or balance, and to stoop, kneel, crouch or crawl. Vision abilities required by this job include close vision.
- Periodically, may also do light lifting of supplies and materials which weighs in at approximately 20 lbs.
- Will spend most of time in an indoor environment.
- Ability to work outside of normal business hours for testing and project work as needed.
Alerus Financial is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.
Company
Alerus is a company that will challenge you to be at your best and where your efforts have real, tangible effects. Our culture is one of collaboration, innovation, forward-thinking, and giving back. And, as a growing company with a presence in markets from New Hampshire to Arizona, we offer a broad range of opportunities for you to travel the career path that matches your abilities, interests, and goals.
What is the current company culture like?
While our footprint spans North Dakota, Minnesota, Arizona, New Hampshire, and Michigan, we still operate like a small company. In other words, every single person on our team matters. Our employees create our culture.
What skills, education, and experiences does your ideal candidate(s) have? Each position has their own specific requirements and qualifications. In addition to those, Alerus seeks people who live out our fundamental beliefs every day: do the right thing, cherish people, empower with knowledge, respect everyone, serve with passion, and embrace change.
How would you describe the company leadership/team management? Alerus has a diverse executive and leadership team. Each leader comes with a wealth of experience and knowledge within their field to help their teams succeed. Alerus leaders, including our C*Suite executives, maintain regular communication with employees on company updates and goals.
Where do you see the company/organization in the upcoming years? Alerus has bank and office locations in North Dakota, Minnesota, Michigan, New Hampshire and Arizona. While we continue to serve our clients in these states we also look to grow our national footprint to best serve clients wherever they may live.
What do you feel candidates need to know about the company before applying? Alerus is more than just a bank and offers many products for our clients including personal & business banking, mortgages, wealth management and retirement savings. We continue to grow and expand but still maintain and operate with a small business feel. We would not have continued success without our employees and all the hard work they do to serve our clients with passion.
See the current Alerus job openings below!
- Website
- https://alerus.com/
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