BSA Fraud Specialist

Provide support to retail operations for deposit related products/services, provide guidance on check holds, assist retail with BSA/Fraud related issues and ensure compliance with all applicable state and federal regulations, credit union policies and procedures. Be a subject matter expert for all wire, fiduciary and deposit related products and services, which includes the following existing functions:
Wires, Certificates, Database Cleanup and Maintenance, Daily Mail, Deposit Account research, Deposit Corrections/Adjustments and Closing Account Management. Responsible for BSA, AML, OFAC, FinCEN, CIP, and USA Patriot compliance;
Fraud monitoring, detection, and investigation.

Major

Duties and Responsibilities:

FRAUD & LOSS MITIGATION:

Mitigate fraud losses through fraud prevention, early detection, fraud investigations, and recovery

Stay informed of best practices for fraud prevention.

React promptly to potential fraud activity by reviewing returned checks processed by Deposit Operations. Upon receipt of REPGEN-generated email alerts in the fraud inbox, assess account activity and determine whether account restrictions are necessary.

Track Losses and Trends Utilize internal/external resources to detect, investigate and analyze potential fraud including shared branch reports.

Conduct suspicious activities investigations.

Assist retail with questions, provide guidance on check holds, and fraud related issues.

BSA/AML/Fraud Monitoring Software:

Ensure clean audits and exams.

Use tools to identify high risk accounts, early detection of fraud, kiting and money laundering suspects.

Ensure Patriot Officer Alerts are completed daily.

Regularly run Office of Foreign Asset Control (OFAC) and 314a checks; research all matches.

Ensure OFAC is run on all required transactions and names including cashier’s checks, on us items etc.

Regularly monitor Suspicious Activity Reporting (SARS); prepare and ensure SAR descriptions and details meet standards.

Collaborate on all SAR decisions for reporting to FinCEN and the Board of Directors.

Prepare and ensure all Currency Transaction Reports (CTRs) are generated, compliant and timely.

Assists Auditors and Examiners during all periodic BSA/AML/FRAUD related compliance.

Assist retail staff with questions and provide guidance on BSA related issues.

Maintain compliance with CDD/EDD.Subject matter expert for Patriot Officer and Alloy.

OTHER DUTIES AS ASSIGNED:

Respond to subpoenas by gathering evidence as required.

All other projects related to BSA/Compliance assigned individually each year.

Attend weekly/Monthly staff meetings, completion of annual Individual Learning Plan (ILP) and required training within prescribed time.

Perform other job-related duties as assigned.

Knowledge and Skills

Experience:

Minimum of two years of similar or related experience in a Financial Services environment.

Education/Certifications/Licenses:(1) A two-year college degree, or (2) completion of a specialized certification or licensing, or (3) completion of specialized training courses conducted by vendors, or (4) job-specific skills acquired through an apprenticeship program/prior work experience. Degree preferred in business, finance, accounting, or a related field.

Interpersonal

Skills:

A significant level of trust and diplomacy is required, in addition to normal courtesy and tact. Work involves extensive personal contact with others and/or is usually of a personal or sensitive nature. Work may involve motivating or influencing others. Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary.

Other

Skills:

Use of sound judgement, decision making, and employing solid research/problem resolution techniques. Strong organizational…