Fraud Analyst

Ctr on Post Fl 3, 176 S Post St, Spokane, WA 99201, USA

* This role is open to remote work within the Washington Trust Bank footprint of WA,  OR. *

This position is responsible for supporting the FRAML department with the day-to-day implementation and administration of the WTB’s BSA/AML/OFAC Compliance Program, established procedures and internal controls. This position may function in more than one of the following areas: decision-making automated monitoring alerts, escalating appropriate alerts for investigation, documenting the outcome of the investigation; preparing and filing required regulatory reports (CTR and SAR) to FinCEN;

identifying, responding to, and investigating incidents of fraud or unauthorized activity such as card fraud, check fraud, ACH fraud, wire fraud and identity theft; and completing Enhanced Due Diligence reviews. Generally, this position requires independent, technical analysis in all job duties and may function as a subject matter expert at the discretion of the BSA Officer.

Essential Functions

BSA/AML/OFAC

• Reviews alerts generated from WTB’s automated monitoring system to identify customer transactions that present an increased risk of money laundering and/or suspicious activity.
• Reviews alerts generated from 314a Information Sharing request and file regulatory reports with FinCEN as required.
• Investigates 314b Information Sharing requests as assigned and prepares 314b Information Sharing request for processing.
• Reviews OFAC alerts generated from WTB’s activities to identify alerts that can be either cleared or actioned to the BSA Officer.
• Meet expected review time frames for alert review, case investigations, and regulatory filings. Utilize critical thinking, trend/pattern analysis, and documentary review to support conclusions.
• Completes the daily Currency Transaction Reporting (CTR) requirements in accordance with specific guidelines and time frames.
• Investigates and documents unusual customer activity or transaction patterns, identified by line personnel, utilizing the Bank’s various software applications and reports to determine if activity is suspicious in nature.
• Completes annual review of exempt Currency Transaction Reporting customers.
• Escalates issues as warranted to team lead and department management
• Completes Enhanced Due Diligence reviews within required time.
• Assists the BSA Officer in identifying and assessing risk.
• Responsible for meeting risk management compliance expectations as they pertain to the BSA/AML/OFAC requirements.
• Maintains knowledge of current FFIEC BSA/AML Examination manual.

Administrative Duties

• Collaborates and communicates with a broad range of contacts in- and out-side the Bank, providing timely, relevant information and assistance. Answers department related questions and inquiries from employees within scope of responsibility, offering assistance and guidance that encourages a positive work environment.
• Thoroughly documents work and ensures work products are archived in accordance with department procedures.
• Reviews the bank’s automated monitoring software’s daily fraud alerts to determine if fraudulent activity has occurred and if further investigation is warranted.
• Acts as fraud investigator to confer with complainants, attorneys, law enforcement agencies, Bank counsel, and others to resolve fraud investigations.
• Centrally compiles and inputs fraud reporting information for Bank use and BSA/AML reporting.
• Generates reports from Fraud monitoring systems.
• Reviews reported fraudulent transactions for potential suspicious activity concerns.

Related Functions

• Performs special investigations or projects, as assigned.
• Assists in providing selected fraud and BSA/AML training to business units as assigned.
• Evaluates and makes recommendations to strengthen the control environment or improve monitoring techniques to promote compliance with the BSA/AML/OFAC Compliance Program and approved department procedures.
• Obtains and maintains professional certification and expertise through attendance at meetings of professional organizations, conferences, seminars, etc.
• Works closely with line management and staff to document and communicate issues.
• Performs compliance and…