Employee-Owned BSA/AML & Fraud Analyst

First State Bank and Trust; Monticello (IL); On-site; USD 65,000 - 95,000; Full time

Job summary

First State Bank and Trust is seeking a BSA/Fraud Analyst to support BSA/AML and fraud monitoring programs. The role involves reviewing suspicious activity, investigations, SAR drafting, and regulatory reporting with a focus on Verafin-driven monitoring and ongoing risk assessment.

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

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 using 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, 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.

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

Education

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

Strong analytical and investigative skills

High level of integrity and ability to handle confidential information

Tools

Verafin

Job description

First State Bank and Trust is seeking a BSA/Fraud Analyst to support BSA/AML and fraud monitoring programs. The role involves reviewing suspicious activity, investigations, SAR drafting, and regulatory reporting with a focus on Verafin-driven monitoring and ongoing risk assessment.

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