Fraud Analyst I

TowneBank; Suffolk (VA); On-site; USD 52,000 - 66,000; Full time

Job summary

TowneBank in Suffolk, VA is seeking a Fraud Analyst I to support the Fraud Management Department in combating money laundering and deposit fraud. You will investigate anomalous activity, prepare narratives, gather supporting documents, and file SARs when applicable.

The role requires 1–3 years banking experience, fraud/risk or AML exposure, and strong written and verbal communication. You will work with branches to review alerts, monitor accounts, and ensure regulatory deadlines are met.

Qualifications

• 1-3 years of banking experience and working knowledge of branch and/or loan operations.
• 1 year of fraud, risk management, or compliance experience, helpful if previous skills with fraud transaction review.
• Ability to comply with regulatory deadlines.
• Knowledge of bank products and services.
• Ability to handle confidential customer information with discretion.
• Ability to work independently within a team setting.
• Detail oriented with good organizational skills.
• Strong written and verbal communication skills.
• Working knowledge of Microsoft Office Suite (Outlook, Excel, Word).
• Adheres to applicable federal laws, rules, and regulations including those related to AML and BSA.

Responsibilities

• Conduct investigations of unusual activity patterns identified through escalated alerts and internal referrals using internal bank systems, open-source searches, and transaction history analysis.
• Recommend case decisions to management while documenting results of case investigations by preparing supporting documentation and SAR forms to be filed with FinCEN.
• Conduct 90-day follow-up reviews to determine if there is continued suspicious activity.
• Monitor identified compromised accounts.
• Provide support to branch personnel on fraud incidents, completing reports and affidavits.
• Review and process internal SAR Referral notifications regarding fraudulent activity submitted by branch/department personnel.

Skills

Banking experience

Fraud experience

Regulatory deadlines

Microsoft Office

Confidential info

Independent worker

Detail oriented

Communication skills

AML knowledge

Team player

Job description

Primary Purpose

This position is a part of the Fraud Management Department, a team that is integral to TowneBank’s efforts in the fight against money laundering and fraud. The Fraud Department assists the Bank’s businesses to prevent, identify, and report check and deposit fraud through processes implemented to protect the Bank and its members. The Fraud investigations team works to support the branches and other lines of business in the investigation of fraudulent and suspicious activity.

This position is a part of the Fraud Management Department, a team that is integral to TowneBank’s efforts in the fight against money laundering and fraud. The Fraud Department assists the Bank’s businesses to prevent, identify, and report check and deposit fraud through processes implemented to protect the Bank and its members. The Fraud investigations team works to support the branches and other lines of business in the investigation of fraudulent and suspicious activity.
The Fraud Analyst I’s primary objective is to investigate anomalous activity through internal referrals and escalated system generated alerts for check and deposit suspicious fraud activity. The Analyst is responsible for preparing well written narratives, obtaining documentation to support the results of investigations conducted, and preparing Suspicious Activity Reports (SARs) when applicable.
The good-faith compensation range for this role is expected to be $52,000.00 to $65,500.00 annually based on the role, market, internal equity, and candidate qualifications.

Essential Responsibilities

• Conduct investigations of unusual activity patterns identified through escalated alerts and internal referrals using internal bank systems, open-source searches, and transaction history analysis.
• Recommend case decisions to management while documenting results of case investigations by preparing supporting documentation and SAR forms to be filed with FinCEN.
• Conduct 90-day follow-up reviews to determine if there is continued suspicious activity.
• Monitor identified compromised accounts.
• Provide support to branch personnel on fraud incidents, completing reports and affidavits.
• Review and process internal SAR Referral notifications regarding fraudulent activity submitted by branch/department personnel.

Minimum Required Skills & Competencies

• 1-3 years of banking experience and working knowledge of branch and/or loan operations.
• 1 year of fraud, risk management, or compliance experience, helpful if previous skills with fraud transaction review.
• Ability to comply with regulatory deadlines.
• Knowledge of bank products and services.
• Ability to handle confidential customer information with discretion.
• Ability to work independently within a team setting.
• Detail oriented with good organizational skills.
• Strong written and verbal communication skills.
• Working knowledge of Microsoft Office Suite (Outlook, Excel, Word).
• Perform other duties as assigned.
• Adheres to applicable federal laws, rules, and regulations including those related to Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA).

Desired Skills & Competencies

• Demonstrated ability to identify fraudulent checks and deposits in a retail setting.
• General knowledge of federal requirements under the Bank Secrecy Act and familiarity with FFIEC BSA/AML Manual guidelines.
• Experience in a financial institution with asset size $10B and over.

Physical Requirements

• Express or exchange ideas by means of the spoken word via email and verbally.
• Exert up to 10 pounds of force occasionally, use your arms and legs, and sit most of the time.
• Have close visual acuity to perform activities such as analyzing data, viewing a computer terminal, reading, and preparing documentation.
• Not substantially exposed to adverse environmental conditions.
• The physical demands described here are representative of those that must be met by an employee to successfully perform the essential responsibilities of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential responsibilities.