BSA/Fraud Analyst

First State Bank and Trust (FSBT); Monticello (IL); On-site; USD 60,000 - 90,000; Full time

Job summary

First State Bank and Trust is seeking a BSA/Fraud Analyst to support the bank's BSA/AML and fraud monitoring programs. This role reviews and investigates suspicious activity, monitors financial crime risks, and supports regulatory filings.

The ideal candidate has hands-on Verafin experience and a solid understanding of transaction monitoring, investigations, and fraud prevention.

Qualifications

• 2–5 years of experience in banking, fraud, BSA/AML, or related operational risk role.
• Hands-on experience with Verafin for transaction monitoring, alert review, investigations, case management, CTR processing, customer risk monitoring, or related BSA/AML activities.
• Experience with fraud monitoring, fraud investigations, payment fraud, or related financial crime activities strongly preferred.
• Strong analytical and investigative skills with attention to detail.
• High level of integrity and ability to handle confidential information.

Responsibilities

• Review and investigate BSA/AML and fraud‑related alerts, suspicious activity, customer risk alerts, and other monitoring exceptions using Verafin and related systems.
• Conduct investigations, document findings, prepare supporting documentation, and draft SAR narratives for review by the BSA Officer.
• Prepare and file Currency Transaction Reports (CTRs) and perform other BSA/AML monitoring and reporting activities.
• Perform customer risk assessments, Enhanced Due Diligence (EDD) reviews, and ongoing monitoring of higher‑risk customer relationships.
• Monitor fraud risks, including ACH, wire, payment, and other high‑risk transactions, and assist with fraud investigations and escalation activities.
• Assist with administration and optimization of the Verafin platform, including identifying opportunities to improve monitoring effectiveness and fraud detection capabilities.
• Monitor emerging fraud trends and financial crime risks and provide recommendations regarding fraud prevention, monitoring practices, and internal controls.
• Assist with regulatory examinations, audits, and other compliance‑related reviews and requests

Skills

Verafin

Fraud monitoring

BSA/AML

Investigations

Regulatory reporting

Education

Associate's or Bachelor's degree in Business, Finance, Criminal Justice, Accounting, Risk Management, or related field

Tools

Verafin

Job description

BSA/AML & Fraud Analyst

First State Bank is seeking a BSA/Fraud Analyst to support the Bank's BSA/AML and fraud monitoring programs. This position is responsible for reviewing and investigating suspicious activity, monitoring financial crime risks, preparing regulatory filings, and identifying emerging fraud trends. The ideal candidate will have hands‑on experience with Verafin and a strong understanding of transaction monitoring, investigations, and fraud prevention.

The BSA/Fraud Analyst serves as a key resource to management, branches, and Deposit Operations by helping identify, investigate, and mitigate financial crime risks while supporting compliance with applicable regulatory requirements. This role offers the opportunity to help shape and strengthen the Bank's fraud monitoring and prevention efforts while gaining exposure to a broad range of BSA/AML and fraud‑related activities

RESPONSIBILITIES

• Review and investigate BSA/AML and fraud‑related alerts, suspicious activity, customer risk alerts, and other monitoring exceptions using Verafin and related systems.
• Conduct investigations, document findings, prepare supporting documentation, and draft SAR narratives for review by the BSA Officer.
• Prepare and file Currency Transaction Reports (CTRs) and perform other BSA/AML monitoring and reporting activities.
• Perform customer risk assessments, Enhanced Due Diligence (EDD) reviews, and ongoing monitoring of higher‑risk customer relationships.
• Monitor fraud risks, including ACH, wire, payment, and other high‑risk transactions, and assist with fraud investigations and escalation activities.
• Assist with administration and optimization of the Verafin platform, including identifying opportunities to improve monitoring effectiveness and fraud detection capabilities.
• Monitor emerging fraud trends and financial crime risks and provide recommendations regarding fraud prevention, monitoring practices, and internal controls.
• Assist with regulatory examinations, audits, and other compliance‑related reviews and requests

QUALIFICATIONS

• Associate's or Bachelor's degree in Business, Finance, Criminal Justice, Accounting, Risk Management, or a related field preferred.
• 2–5 years of experience in banking, fraud, BSA/AML, or related operational risk role
• Hands‑on experience utilizing Verafin for transaction monitoring, alert review, investigations, case management, CTR processing, customer risk monitoring, or related BSA/AML activities required.
• Experience with fraud monitoring, fraud investigations, payment fraud, business email compromise, elder financial exploitation, ACH fraud, wire fraud, check fraud, or related financial crime activities strongly preferred.
• Strong analytical and investigative skills with attention to detail
• High level of integrity and ability to handle confidential information

LEARN A LITTLE ABOUT US

At First State Bank and Trust, we're proud to deliver something increasingly uncommon in financial services: a truly independent, 100% employee‑owned community bank. Fewer than a handful of banks nationwide share our ownership structure, and it's the foundation of everything we do. When you work here, you're not just joining a team - you're becoming an owner with a real stake in our long‑term success.

We have built a strong reputation as a trusted financial institution serving seven communities across Central Illinois. With $500 million in assets, we offer a full range of retail and commercial banking services, supported by a growing mortgage banking group and a dedicated trust and wealth management department. You'll find us in Monticello, Champaign, Bloomington, Heyworth, Tuscola, Atwood, and Hammond.

Equal Opportunity Employer. Member FDIC. Equal Housing Lender