BSA Fraud Analyst

River Run Services, LLC; Haverhill (MA); On-site; USD 60,000 - 90,000; Full time

Job summary

River Run Services, LLC is seeking an AML/Fraud Analyst to ensure regulatory compliance and protection of the Bank and its customers from financial crimes. You will monitor, investigate, and report suspicious activity related to fraud and money laundering while supporting AML/CFT and Fraud Prevention programs.

Responsibilities include researching alerts, collaborating with internal departments, preparing CTRs, and performing new customer due diligence reviews.

Qualifications

• HS diploma or equivalent.
• 2-3 years AML/CFT or fraud detection experience.
• Knowledge of BSA/AML laws including USA PATRIOT ACT, OFAC, FinCEN guidelines.
• Strong analytical and problem-solving skills.
• Proficient with transaction monitoring systems and office applications.

Responsibilities

• Monitors customer transactions for suspicious activity using AML software and fraud detection tools.
• Conducts research and analysis on alerts and cases to determine legitimacy of activity or SAR potential.
• Collaborates with internal departments to resolve fraud cases and conduct investigations.
• Prepares Currency Transaction Reports (CTRs) and conducts EDD reviews.
• Keeps abreast of regulatory changes and industry trends related to financial crimes and compliance.
• Ensures adherence to federal and state laws, regulations, and bank policies by preventing violations and minimizing risks.

Skills

AML/CFT

Fraud detection

Regulatory compliance

Education

High school diploma

Tools

AML software

Office applications

Job description

Description

River Run is a shared services organization that supports banking affiliates, Newburyport Bank, Pentucket Bank and Rollstone Bank & Trust.

The BSA Fraud Analyst ensures regulatory compliance and protection of the Bank and its customers from financial crimes. Monitors, investigates, and reports suspicious activities related to fraud, money laundering, and other financial crimes. Independently analyzes transaction data, reviews alerts, and conducts case investigations in accordance with applicable regulations and internal policies to support Anti-Money Laundering and Countering the Funding of Terrorists (AML/CFT) and Fraud Prevention programs.

• Monitors customer transactions for suspicious activity using AML software and fraud detection tools.
• Conducts thorough research and analysis on alerts and cases to determine legitimacy of activity or the potential for a Suspicious Activity Report (SAR) when necessary.
• Collaborates with internal departments to resolve fraud cases and conduct investigations.
• Administers the preparation of Currency Transaction Reports (CTRs).
• Conducts new customer and enhanced due diligence (EDD) reviews in accordance with the institution's AML/CFT policy.
• Keeps abreast of regulatory changes and industry trends related to financial crimes and compliance.
• Actively stays current on all Bank products, services, procedures, policies, and applicable regulatory and compliance requirements by regularly attending team meetings, completing mandatory training on schedule, and applying knowledge to ensure accuracy and compliance in daily operations.
• Ensures adherence to federal and state laws, regulations, and bank policies by preventing violations, minimizing risks, and safeguarding the Bank's interests.
• Verifies transactions and account balances, ensuring compliance with bank policies and state and federal regulations and the Bank Secrecy Act (BSA), as applicable to the role.

Requirements

• High school diploma or equivalent.
• 2-3 years of experience in AML/CFT or fraud detection within a financial environment.
• Basic knowledge of BSA/AML laws and regulations, including the USA PATRIOT ACT, Office of Foreign Assets Control (OFAC), the AML ACT, and Financial Crimes Enforcement Network (FinCEN) guidelines.
• Strong analytical and problem-solving skills.
• Strong attention to detail.
• Proficient with transaction monitoring systems, and office applications including word processing, spreadsheets, and presentation software.
• Ability to work independently and manage multiple priorities within strict deadlines.