BSA & Fraud Analyst - Lake Ridge Bank

Join our team as a BSA & Fraud Analyst and play a key role in protecting our institution from financial crimes! You'll dive into investigative work, analyzing suspicious activity, and ensuring compliance with cutting-edge fraud detection software like Verafin. If you're passionate about keeping financial systems safe while embracing challenges in a dynamic and collaborative environment, this is the perfect opportunity for you!

Verafin Alert Research and Clearing:

• Monitor, investigate and clear alerts generated by Verafin or similar BSA/AML software for potential suspicious activities.
• Conduct detailed research and analysis of customer transactions, patterns, and behaviors to identify unusual or suspicious activity.
• Collaborate with internal departments to gather necessary information and documentation to resolve alerts.
• Document findings and escalate cases to the BSA Officer or Fraud Investigator when further investigation is required.
• Maintain thorough records of all actions taken and ensure timely clearing of alerts.

Quality Assurance/Control Reviews and Reporting:

• Perform regular quality assurance and control reviews of internal processes related to BSA/AML compliance and fraud detection.
• Identify areas of improvement within existing processes and recommend changes to enhance effectiveness and efficiency.
• Prepare and present reports on findings from quality reviews, including any identified deficiencies, trends, or risks.
• Work closely with other financial crimes team members to ensure that policies and procedures are consistently applied and adhered to.

Manage the Currency Transaction Report (CTR) Process:

• Oversee the end-to-end process of Currency Transaction Reporting, including the accurate completion and timely filing of CTRs.
• Conduct annual reviews of CTR exemptions, ensuring all exempt customers meet regulatory criteria and maintain proper documentation.
• Collaborate with branch personnel to ensure compliance with CTR filing requirements and provide guidance on CTR-related issues.
• Stay informed about regulatory changes affecting CTR processes and update procedures accordingly.

Compliance and Risk Management:

• Assist in the development, implementation, and maintenance of the institution's BSA/AML program.
• Participate in internal and external audits and examinations, providing documentation and explanations as required.
• Keep abreast of emerging trends and typologies in financial crimes, adapting the institution's strategies to address new risks.
• Support the BSA Officer in training and educating staff on BSA/AML and fraud detection procedures.

Other Duties:

• Participates in internal/external training as appropriate.
• Participates in community involvement/bank activities as appropriate.
• Perform all other duties as assigned or requested.

• Associate degree in Accounting, Finance, or similar designation and/or one-two years equivalent work experience in a similar position required
• Detailed knowledge of regulatory/compliance laws that govern the banking industry.
• Strong working knowledge of Microsoft Office including but not limited to Word and Excel and advanced computer/keyboarding/typing skills
• Demonstrated problem solving skills with the ability to make sound business decisions
• Analytical mindset with a strong attention to detail as well as the ability to work efficiently and accurately with minimal supervision
• Flexibility with the ability to adapt to an ever-changing work environment.
• Strong organization skills, including the ability to prioritize and remain calm while working in a fast paced/deadline driven environment
• Ability to maintain confidential client information
• Ability to read, write, understand and speak English clearly
• Ability to represent the organization in a professional, positive manner

Preferred Qualifications:

• Bachelor’s degree in Finance, Accounting, Business or similar discipline and/or 2-5 years related work experience in banking, security or related field.

This is a full time role between the hours of 8:00 AM to 5:30 PM Monday through Friday. Flexibility in scheduling may be needed on occasion.

Lake Ridge Bank values a diverse workforce and is an Affirmative Action/Equal Opportunity Employer. Minorities, Females, Veterans, and Individuals with Disabilities encouraged to apply.

Consistent with Lake Ridge Bank's commitment to employ and advance qualified individuals with disabilities, Lake Ridge Bank provides reasonable accommodation to apply for or perform a job. Some examples of reasonable accommodation include alternate methods to apply, providing documents in an alternate format, altering work procedures, specialized equipment or use of an interpreter. If an individual needs reasonable accommodations to apply or perform a job here at Lake Ridge Bank, please contact Human Resources at (608) 849-2700 or email us.