BSA & Fraud Analyst

Overview

This is an exciting opportunity to join our people-oriented Risk Management/Compliance/Auditing team; but first, here is a little bit about Elements Financial:

WE MAKE MONDAYS MORE ENJOYABLE.

There are many ways to describe the Elements culture: fun, meaningful, supportive, and full of opportunities. See here for more information - https://(Use the "Apply for this Job" box below)./

Today we serve the employees of 150+ organizations around the U.S. We currently rank among the top 3% of credit unions nationally with 100,000+ members. We have the resources, staff, and expertise to support our members with unparalleled service and leading-edge technology.

Now let s get into this exciting role!

This is a hybrid role that requires some on-site work (inside our Indianapolis, Indiana office). In addition to the on-site duties, there are additional responsibilities that can be completed outside of the office, resulting in this being a hybrid role.

Elements Financial is a Best Place to Work because our employees are empowered to Be the Expert, Live the Purpose, and Grow the Business. Our Purpose is to Empower Members to Achieve Financial Success
. The BSA and Fraud Analyst helps reduce the risk of fraud losses and ensures that Elements is in compliance with BSA regulations through the use of industry leading monitoring systems. This supports Elements’ ability to provide our members fast and efficient movement of funds. Moreover, this role makes it easy for members to do business when, how, and where they want.

You will learn how to be the expert to best serve our members:

• Maintain knowledge of BSA compliance developments, regulatory changes, and credit union changes (products, services, processes) that may impact BSA risk and BSA regulatory compliance.
• Maintain knowledge of current fraud trends impacting BSA alerts and risk to the overall credit union and its membership.
• Manage pulling data and documentation cross-functional problem-solving efforts within Elements and with other FIs and law enforcement entities.
• Assist with internal and external BSA auditors and NCUA examiners and the implementation of any corrective matters, findings, and observations.

You will make a difference as you live out our purpose:

• Analyze daily cash reports and shared branch reports for potential risk of anti-money laundering risk
• Research unusual items and use critical thinking skills to determine regulatory reportable items.
• Complete all reporting in accordance with FINCEN guidance.
• Collaborate with other employees and departments to obtain all necessary information for regulatory reporting.
• Analyze daily fraud and risk alerts (wire fraud, check fraud, elder abuse, etc.) in Verafin, research the alert using multiple systems (DNA, Wire Exchange, Ensenta, etc.) to analyze the member transactions. Use critical thinking to determine if alert enquires regulatory reporting or can be documented why alert is a false positive. If regulatory reporting is required pull needed documentation and complete the required regulatory reporting and documentation.
• Collaborate with branch staff on cash transactions to report with a high level of detail and accuracy any currency transactions meeting the regulations set forth by FINCEN.
• Review and analyze new account documentation to ensure adequate compliance with CIP requirements and documentation. Follow up with member facing staff to ensure all CIP requirements are obtained and accurately documented.
• Collaborate with other Credit Union departments regarding various alerts and potential frauds impacting our members or the Elements. Analyzing patterns in fraud throughout various channels, cards, loan and membership applications, transaction methods, etc.
• Analyze monthly BSA alerts with a high degree of attention, determine if the member transactions are suspicious and assist with the required BSA reporting (SARS)
• Administer compliance with OFAC.

You will help grow the business:

• Assist with Loss Prevention cases in Salesforce to investigate, mitigate, and follow-up on fraudulent or suspicious activity where members may be involved.
• Review and analyze new membership transactions and applications to determine any…