Fraud Analyst II: Investigations & SARs

Alerus Financial; Minnetonka (MN); On-site; USD 30,000 - 41,000; Full time

Job summary

Alerus is seeking a Fraud Analyst II to join a cohesive team protecting the bank and its customers. You will review transactions, interview involved parties, and determine facts to support case outcomes. The role requires sound judgment and confidentiality in handling information.

You will escalate actions to senior staff, maintain investigation records, and assist in SARs. It also involves staying updated on compliance and fraud trends while collaborating with internal teams and law enforcement.

Qualifications

• Associate degree or equivalent combination of education and/or 2-5 years related financial industry experience.
• 2-3 years of previous Fraud or BSA/AML experience.
• Previous banking or financial services experience.
• Possesses investigative and research skills using various systems.
• Attention to detail, as well as excellent analytical skills to identify suspicious and/or fraudulent activity.

Responsibilities

• Identify and investigate various types of fraud (e.g., check, deposit, ACH, wire, new account, online account takeover, debit card, P2P) and interview involved parties.
• Escalate recommendations for account actions to senior staff, keep detailed investigation records, and handle callbacks regarding ACH and wire alerts.
• Work with internal/external departments, law enforcement, and customers; identify activities requiring Suspicious Activity Reports (SAR) and assist in their completion.
• Develop relationships with internal clients, recommend fraud prevention improvements, and communicate fraud patterns to management.
• Provide primary and backup coverage for fraud and maintain written procedures.
• Provide one-on-one training for specialized processes and participate in team meetings.
• Attend mandatory training, stay updated on systems, pursue ongoing education, and maintain knowledge of compliance regulations.

Skills

Investigative skills

Research skills

Attention to detail

Analytical thinking

Education

Associate degree or equivalent

2-5 years related financial industry experience

Job description

Alerus is seeking a Fraud Analyst II to join a cohesive team protecting the bank and its customers. You will review transactions, interview involved parties, and determine facts to support case outcomes. The role requires sound judgment and confidentiality in handling information.

You will escalate actions to senior staff, maintain investigation records, and assist in SARs. It also involves staying updated on compliance and fraud trends while collaborating with internal teams and law enforcement.