Fraud Analytics Officer

East Cambridge Savings Bank's Bank Secrecy Act(BSA)/Compliance Department is actively recruiting for a Fraud Analytics Officer

Function:

Under the general direction of the Senior Bank Secrecy Act Officer, manages compliance with the Fraud/AML Program. Investigating fraudulent, illegal, or improper activity by customers and/or employees. Conducts research as necessary to prevent and identify fraud situations. Performs a variety of management and administrative functions pertaining to fraudulent activity in accordance with established Bank policies, procedures and strategic goals.

We are looking for candidates with:

• Bachelor's degree or its equivalent through specialized coursework and training. Certificates in Fraud Prevention, BSA/AML or related areas a plus.
• At least 5 years of related experience within bank fraud and anti-money laundering programs; or equivalent combination of education and experience. Strong knowledge of Bank Secrecy Act/AML laws and regulations, GLBA rules, Information Security reporting requirements, and various state laws and regulations.
• Experience conducting complex and diverse investigations involving client fraud; internal fraud; misconduct; ethical violations; and FDICIA violations. Ability to conduct research and investigations using various sources including the ability to analyze data using fraud detection software.
• Ability to interface with other bank investigators and industry peers in subjects related to fraud intelligence and fraud investigations. Ability to communicate effectively with representatives from various lines of business and key stakeholders.
• Strong banking operations knowledge including various banking functions such as, retail banking, commercial banking, wealth management, and loan servicing.
• Excellent analytical and problem-solving skills, written and verbal communications skills, attention to detail and strong time management skills.
• Ability to work independently, as well as collaboratively, within a team environment.
• Working knowledge of MS Office products, including Outlook, PowerPoint, Word, Excel

Primary Responsibilities:

• Administers and implements the Verafin fraud analytics as part of the Bank's overall Fraud/AML Program to ensure enterprise-wide compliance with the GLBA, Information Security requirements, BSA/AML, Office of Foreign Assets Control ("OFAC"), USA PATRIOT Act, and all other federal and state laws and regulations as applicable.
• Manages Fraud Detection and Investigation Team responsible for financial crime intelligence and analysis, fraud investigations, transaction monitoring alert dispositioning, and suspicious activity investigations, in accordance with all applicable AML statutes, rules, and regulatory expectations.
• Coordinates with the Senior BSA Officer for management of BSA/AML and Fraud Analyst scheduling and assignments ensuring the overall BSA/AML and Fraud program remains compliant and appropriately mitigates the Bank's fraud risk.
• Reviews and analyzes fraud alerts through a variety of sources (Verafin Fraud Analytic modules, Fiserv Case Tracker). Conducts comprehensive investigations, analyzes transaction information, reviews customer data by verifying transactions through activity review or customer contact to reduce any potential financial loss to the Bank and the customer. Determines and performs the actions necessary to resolve investigations while reducing potential financial loss to the bank and the customer.
• Uses independent and professional judgment when reviewing Fraud and BSA/AML alerts conducting comprehensive case investigations which includes analyzing transaction information, reviewing customer data, researching open source and media checks, and recommending a SAR or no SAR be filed to be reviewed by management. Coordinates investigations with Law Enforcement, Third Parties, and other financial institutions as necessary.
• Escalates any potential findings of suspected fraud or criminal activity to the appropriate individuals specifically the BSA Officer, Compliance Officer, and Chief Risk Officer. Informs management of all active cases that require escalation, including communicating which laws were broken and what actions should be taken.
• Monitors potentially suspicious patterns of activity and recommends changes to rules, parameters, and thresholds maintained within the transaction monitoring system to ensure continued effectiveness. Develops thorough understanding of business, risks, and processes with respect to Fraud/AML compliance and monitors regulatory environment for emerging legislation and policy statements, along with industry trends, market developments, and best practices relating to Fraud/AML Transaction Monitoring.
• Demonstrates strong investigative/analytical skills and be able to formulate and clearly articulate a supportable rationale behind the decisions of the alerted activity while complying with departmental procedures.
• Works cooperatively with internal departments to obtain and analyze necessary information related to investigations. Provides telephone and email support for the department in relation to fraud investigations and inquiries
• Ensures all cases are clearly and accurately documented for future reference and completes all required regulatory reports timely and accurately.
• As part of the BSA requirement for continuing education (this is in addition to the Bank's annual training required of all bank personnel), participates in seminars, webinars, teleconferences, etc. Stays abreast of fraud risks associated with new or changed products/services to facilitate proactive mitigation of identified risks.
• Assists Chief Risk Officer with preparation of Fraud/AML statistics for management reporting. Creates management reports and assists with preparing Board Reports within area of responsibility including fraud cases.

Contact our Human Resources Division or visit https://www.ecsb.com/about-us/careers for more details and to apply.

Or submit your resume to:

East Cambridge Savings Bank, Attn: Human Resources

344 Cambridge Street Cambridge, MA 02141

East Cambridge Savings Bank is an Equal Opportunity Employer/Veterans/Disabled