Fraud Specialist

Bank of San Francisco; San Francisco (CA); On-site; USD 90,000 - 130,000; Full time

Job summary

Bank of San Francisco is seeking a Fraud Specialist to detect, investigate, prevent, and resolve fraud-related activity affecting clients and the bank. You will manage fraud investigations, review alerts, support SAR reporting, and administer the Identity Theft Prevention Program (Red Flags).

You will work with Account Officers, Operations, Compliance, and IT to refine controls, monitor trends, and ensure regulatory compliance.

Qualifications

• Minimum 3 years of banking, fraud investigations, BSA/AML compliance or related financial crimes experience.
• Experience conducting investigations and documenting findings.
• Strong investigative and analytical skills with attention to detail.
• Understanding of banking regulations and financial crime risks.

Responsibilities

• Review fraud alerts, referrals, client complaints, and suspicious activity.
• Conduct investigations involving check, wire, ACH fraud, elder exploitation, identity theft and related crimes.
• Document findings and maintain case records per bank policies and regulatory expectations.
• Escalate significant fraud matters to management and recommend actions.
• Administer the Identity Theft Prevention Program and support SAR reporting.
• Coordinate with external institutions, law enforcement, and third parties as needed.

Skills

Fraud investigations

Analytical skills

Communication skills

Microsoft Office suite

Regulatory awareness

Education

Bachelor's degree

High school diploma

Tools

Fraud detection systems

Case management platforms

Core banking systems

Job description

Are you looking for an opportunity to support a leading community and private bank serving Bay Area businesses, nonprofits and individuals? Bank of San Francisco is seeking a Fraud Specialist to become a critical part of our team. Please contact us today to discuss this opportunity!

The Fraud Specialist is responsible for the detection, investigation, prevention, and resolution of fraud-related activity affecting the Bank and its clients. The position conducts fraud investigations, reviews fraud alerts, manages fraud claims, supports suspicious activity reporting requirements, and administers the Bank's Identity Theft Prevention Program (Red Flags Program).

Job Responsibilities:

Fraud Detection and Investigations

• Review fraud alerts, referrals, client complaints, and suspicious account activity.
• Conduct investigations involving check fraud, wire fraud, ACH fraud, elder financial exploitation, account takeover, identity theft, and other financial crimes.
• Analyze account activity, transaction patterns, client behaviors, and supporting documentation to identify suspicious or potentially fraudulent activity.
• Document investigative findings and maintain complete case records in accordance with Bank policies and regulatory expectations.
• Escalate significant fraud matters to management and recommend appropriate action.
• Assist with the identification of emerging fraud trends and recommend enhancements to fraud controls and monitoring processes.

Fraud Claims and Loss Mitigation

• Manage fraud investigations and claims from initial review through final resolution.
• Coordinate with external financial institutions, payment networks, law enforcement agencies, and third-party service providers as appropriate.
• Partner with Central Operations to initiate recovery efforts when fraud losses or attempted losses are identified.
• Monitor recovery efforts and maintain documentation of actions taken.
• Provide timely status updates and investigative outcomes to Account Officers, management, and other internal stakeholders.
• Assist with hold, freeze, closure, and loss mitigation recommendations when warranted.

Suspicious Activity Reporting

• Investigate potentially suspicious activity through fraud reviews and referrals.
• Prepare investigative summaries and documentation for SAR decisioning.
• Draft Suspicious Activity Reports (SARs) and supporting narratives for management review.
• Maintain awareness of regulatory reporting timelines and escalation requirements.

Identity Theft Prevention Program (Red Flags Program)

• Serve as the day-to-day administrator of the Bank's Identity Theft Prevention Program.
• Review and investigate identity theft red flags identified through account opening, transaction activity, and client interactions.
• Maintain program documentation and case records.
• Support periodic reporting to management regarding program effectiveness and identified trends.
• Recommend enhancements to policies, procedures, controls, and training related to identity theft prevention.

BSA/AML and OFAC Support

• Provide secondary support for BSA/AML and OFAC operations during periods when fraud alert volumes permit.
• Review and disposition transaction monitoring alerts in accordance with established procedures.
• Review sanctions and OFAC screening alerts and document investigative findings.
• Assist with investigations involving suspicious activity, fraud-related SAR referrals, and financial crime matters.
• Support periodic reviews, enhanced due diligence activities, and other compliance initiatives as assigned.
• Maintain familiarity with applicable BSA/AML, sanctions, and financial crimes compliance requirements.

Communication and Collaboration

• Communicate professionally and effectively with clients regarding potentially fraudulent activity requiring verification or additional information.
• Work closely with Account Officers, Operations, Compliance, Information Security, and management to resolve fraud-related matters.
• Participate in fraud prevention, financial crimes, and compliance-related projects and initiatives.
• Support internal audits, regulatory examinations, and requests for information.

Administrative Responsibilities

• Maintain accurate and complete records of investigations and case activity.
• Prepare reports, metrics, and trend analyses for management review.
• Assist with policy and procedure updates related to fraud prevention and financial crimes compliance.
• Complete required training and maintain proficiency regarding fraud risks, investigative techniques, and regulatory requirements.

Requirements:

• High school diploma or equivalent required.
• Bachelor's degree in Business, Finance, Criminal Justice, Accounting, or a related field preferred.
• Minimum 3 years of banking, fraud investigations, BSA/AML compliance, operations, or related financial crimes experience.
• Experience conducting investigations and documenting findings.
• Experience with fraud detection systems, case management platforms, and core banking systems preferred.
• Understanding of deposit operations, payment systems, and customer transaction activity.
• Strong investigative and analytical skills.
• Ability to identify suspicious activity patterns and fraud indicators.
• Understanding of banking regulations and financial crime risks.
• Working knowledge of BSA/AML, OFAC, fraud prevention, and identity theft prevention requirements.
• Ability to exercise sound judgment and maintain confidentiality.
• Strong written and verbal communication skills.
• Strong organizational skills with attention to detail.
• Ability to manage multiple investigations and priorities simultaneously.
• Proficiency with Microsoft Office applications, including Excel, Word, Outlook, and Teams.

Preferred Certifications

• Certified Anti-Money Laundering Specialist (CAMS)

BSF is an Equal Opportunity Employer. Recruitment, placement, and promotions are conducted without regard to an individual’s race, color, religion, sex, national origin, age, physical handicap, veteran status or sexual orientation, or any other classification protected by Federal, State, and local laws & ordinances. We will consider qualified candidates with criminal history in a manner consistent with the requirement of the San Francisco Fair Chance Ordinance. All qualified applicants are encouraged to apply.