Fraud Analyst I (Hybrid, Chicago, IL)

Byline Bank.; Chicago (IL); Hybrid; USD 34,000 - 42,000; Full time

Job summary

Byline Bank in Chicago, IL, is seeking a Fraud Analyst I to review and disposition routine fraud alerts generated by monitoring systems in a hybrid work setting. The role supports fraud detection and prevention while ensuring regulatory compliance.

You will analyze account activity, identify suspicious patterns, and escalate higher-risk cases as needed. Strong analytical skills and Excel proficiency are essential for this position.

Qualifications

• Strong analytical and critical thinking skills with ability to identify patterns.
• Attention to detail and investigative mindset for reviewing alerts.
• Proficient in MS Excel and ability to work with large datasets.
• Ability to work independently and make risk-based decisions.

Responsibilities

• Review alerts generated by fraud detection systems.
• Analyze account activity and transaction patterns for suspicious behavior.
• Escalate complex cases to Fraud Analyst II or management as needed.
• Document investigations and actions taken in line with procedures.
• Collaborate with Operations, Compliance, Risk Management, and Customer Service.

Skills

Analytical thinking

Attention to detail

Written/verbal communication

Excel proficiency

Independent decision making

Time management

Education

High school diploma or equivalent

Associate's degree

Bachelor's degree

Tools

Microsoft Excel

Job description

Fraud Analyst I (Hybrid, Chicago, IL)

Full Time Corporate Operations Chicago, IL, US

Salary Range: $25.00 To $30.76 Hourly

About Byline Bank

Headquartered in Chicago, Byline Bank, a subsidiary of Byline Bancorp, Inc. (NYSE:BY), is a full-service commercial bank serving small- and medium-sized businesses, financial sponsors and consumers. Byline Bank has approximately $9.9 billion in assets and operates over 40 branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and community banking products and services, including small-ticket equipment leasing and U.S. Small Business Administration loans. Byline Bank is a member of FDIC and an Equal Housing Lender.

At Byline Bank, we take pride in being an award-winning workplace. Some of our recent recognitions include:

• U.S. News & World Report’s Best Companies to Work for in the Midwest 2024-2025, 2025-2026 and Best Companies to Work for in Finance and Insurance & Overall 2025-2026.
• Newsweek’s America’s Greatest Midsize Workplaces for Women 2026
• Best Companies Group’s Best Remote and Hybrid Workplaces in America 2026
• Chicago Sun Times Chicago’s Best Workplaces 2024, 2025
• Best Companies Group and Illinois SHRM (Society for Human Resource Management) Best Workplaces in Illinois 2024, 2025, 2026

By joining our team, you will become part of an organization that values growth, collaboration, and innovation. We strive to create an environment where employees feel supported and are empowered to excel in their roles. If you're looking for a career with a company that puts people first and makes a difference in the communities we serve, Byline Bank is the place for you.

Objective of Position:

The Fraud Analyst I is primarily responsible for reviewing and dispositioning routine fraud alerts generated by fraud monitoring systems. This role conducts initial investigative reviews, documents findings, and escalates higher-risk, suspicious, or complex activity to Fraud Analyst II, Management, or other appropriate stakeholders. The Fraud Analyst I plays a critical role in supporting the Bank's fraud detection and prevention efforts while ensuring compliance with internal policies, procedures, and regulatory requirements.

Duties and responsibilities:

• Review and investigate alerts generated by fraud detection and monitoring systems.
• Analyze account activity, transaction patterns, and customer behavior to identify suspicious activity.
• Review transactional activity and account information to identify unusual activity and determine whether escalation is warranted.
• Make accurate decisions regarding alert disposition, including closing alerts or escalating cases for further investigation.
• Escalate complex alerts, suspected fraud schemes, potential SAR matters, and cases requiring enhanced investigation to Fraud Analyst II, Management, Compliance, or other appropriate teams
• Document investigations, findings, and actions taken in accordance with established procedures.
• Remain aware of fraud trends, emerging threats, and evolving fraud schemes through ongoing training and department communications.
• Collaborate with internal departments, including Operations, Compliance, Risk Management, and Customer Service.
• Maintain quality, productivity, and service-level standards while managing assigned workloads.
• Ensure adherence to company policies, regulatory requirements, and fraud prevention best practices.
• Assist with identifying opportunities to improve fraud detection processes and controls.
• Assist with manual review of transactional activity and identify escalation opportunities.

Note: Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.

Qualifications:

• High school diploma or equivalent required; Associate's or Bachelor's degree preferred.
• Experience in fraud detection, fraud operations, financial crimes, banking, payment processing, or a related field preferred.
• Knowledge of fraud monitoring systems, transaction review processes, and risk assessment methodologies.
• Strong analytical and critical thinking skills with the ability to identify unusual patterns and behaviors.
• Ability to review large volumes of transactional and customer data accurately and efficiently.
• Strong attention to detail and investigative mindset.
• Effective verbal and written communication skills.
• Proficient in Microsoft Office applications, particularly Excel.
• Ability to work independently and make sound risk-based decisions.
• Strong organizational and time-management skills in a fast-paced environment.

PHYSICAL DEMANDS/WORK