Fraud Analyst

The Fraud Analyst works to protect the Bank and its customers from losses and other negative effects related to fraud. The Fraud Analyst accomplishes this through thorough investigations of potentially fraudulent activity with a goal of preventing and mitigating fraud related losses. The Fraud Analyst will review relevant information from multiple, diverse, systems. He/she will interact with customers and other team members to gather additional information as necessary and use sound judgement to determine appropriate outcomes. He/she will be responsible for reviewing suspicious checks; counterfeit, altered, forged and scam-related fraud, to take appropriate action to protect the bank and its customers. The Fraud Analyst will also research instances of suspicious activity from the bank's digital channels to detect and deter fraudulent account openings, identify theft, account takeover and other forms of suspicious customer and deposit activity. The Fraud Analyst may interact with customer-facing teams, as well as, law enforcement authorities.

• Monitors daily alerts through Verafin for various potential fraud activity and clears cases as assigned. Alerts may include potential fraudulent checks, deposits, real time transactions, account applications and other financial transactions. Monitors systems and reports for potentially fraudulent activity, takes appropriate action and dispositions cases/alerts accordingly. Uses various bank systems to conduct research of customer transaction activity. Performs fraud prevention/risk management activities, focusing on functions established to provide early warning signs of potential losses. Reviews and critically analyzes alerts and information from various systems pertaining to financial crimes that include, but are not limited to: Bank Fraud, Check Fraud, Counterfeits, Alterations, Forged Endorsement, Forged Maker, Kitting, New Account Fraud, Loan Fraud, Identity Theft, Returned Deposited Items, ACH Fraud, Wire Fraud, ATM Fraud, and Other Losses for disposition and escalation.
• The Fraud Analyst will receive emails and phone calls from various lines of business regarding potential fraud matters. The Analyst should be clear and professional in his/her communication and exercise sound judgement in determining the need to escalate. Makes recommendations for closing account relationships to management. Escalates identified risks as appropriate. Complies with all regulatory requirements and federal/state laws. Approaches problems logically and with good judgment to ensure the appropriate outcome. Maintains fraud documents and records.
• Reviews alerts of potentially fraudulent activity related to deposit account behavior, new account analysis, and payment card transactions, including account origination, ACH activity, wire activity, deposit activity, check activity, credit line payment activity, and payment card transaction activity. Keeps current on fraud and BSA/AML investigative operations and the application of the BSA and USA PATRIOT Act requirements along with training requirements for the investigative role.
• Exercises sound judgement to take appropriate action related to suspected fraudulent activity to prevent and mitigate losses and fraud risk for both the customer and the Bank. Identifies various types of potentially fraudulent activity including identity theft activity, account takeover, first-party fraud and evolving scams. Works to detect various fraud schemes (email compromise, elder abuse, counterfeit checks, ATO, etc.) and characteristics of red flags.
• Conducts investigations including potential interviews of customers or related parties. Reviews evidence and documents witness statements and any actions taken or to be taken. Ensures that potential suspicious transactions or financial crimes are identified. Researches transactions causing a loss (fraudulent deposits, ATM transactions, debit/credit disputes, etc.) to the Bank in an attempt to recover funds. Monitors and reports non-compliance of check holds and special handling of accounts to applicable levels of management. Acts as a liaison with law enforcement agencies and other financial institutions as needed.
• Assist as needed in analyzing key reports, identifying customers that may be potentially high risk for illegal activity based on regulatory and law enforcement guidance. Monitors High Risk accounts and customers that have relationships with CSB and performs due diligence on those customers assigned to a high-risk category as required. This includes NPO / NGO and professional service providers such as Attorney’s IOLTA accounts.
• Assist as needed using the Bank’s self-audit tool, monitors reports identifying risk areas (high, medium or low) on the regulatory or application side. Prepares documentation to assist the Bank in using its internal monitoring system and also to provide to auditors and examiners as an explanation of how the system is used. Supports the Compliance Officer in working with the department heads in putting the correct documentation in place.
• Assist AVP, Sr. Compliance Specialist as needed in preparing Suspicious Activity Reports (SARs) for Compliance Officer/ BSA Officer’s approval and filing. Reviews and investigate any suspects identified by the Verafin system.
• Assists the Compliance Officer/ BSA Officer as needed, in the preparation of materials to be presented to Senior Management, Board of Directors or any of its sub-committees.
• Acts as a resource for compliance related issues. Provides compliance expertise to personnel including performing research, assessing risks and assisting in the development of solutions to compliance issues and concerns.
• Actively participates in fraud prevention awareness strategies and collaborates with internal and external parties (peers, law enforcement, community liaisons, etc.) to identify new trends and associated risk mitigation techniques.

• Bachelor Degree or equivalent work experience required. Associates Degree in a related field from an accredited college or university. Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be business or financial industry related.
• Minimum five (5) years of experience in related banking field or the equivalent combination of education and experience. Work related experience should consist of an in-depth background in compliance and /or fraud investigation.
• Extensive knowledge of banking, with concentration in Fraud, Anti Money Laundering and BSA and the applicable laws and regulations.
• Advanced logic, analytical and error resolution skills. The ability to think critically and exercise independent judgement.
• Intermediate skills in personal computer operation; word processing and spreadsheet software programs.
• Exceptional verbal, written and interpersonal communication skills with the ability to apply common sense to carry out instructions and instruct others, train staff, read, analyze and interpret documents and professional journals, understand procedures, write reports, correspondence and procedures, speak clearly to customers and employees, general public.
• Self-motivated and thorough in execution to achieve desired results within established timeframes with no supervision.

Clinton Savings Bank is an EOE AA M/F/Vet/Disability.
Member FDIC Member DIF