What are the responsibilities and job description for the Risk Analyst position at First Commerce Credit Union?
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The Risk Analyst works directly with other members of the Risk Management team by assisting in both fraud prevention and regulatory compliance reviews. The position is responsible for detailed and involved research and analysis of activity to assess levels of fraud risk or threats. Conducts research and analyzes member accounts for possible cases of fraud and ensures most efficient fraud loss prevention strategies are utilized. A special focus on compliance with all rules and regulations enforced by various Federal and State Agencies. Assists in the filing of regulatory compliance forms and is involved in the internal compliance audit functions. Serves as a complete back-up to both the Compliance Analyst and Fraud Analyst positions.
RESPONSIBILITIES:
* Monitors member accounts for possible fraud using internal reports (external transfers, check fraud, ATM fraud, mobile deposit fraud, bill pay fraud, etc.)
* Actively participates in the Big Bend Fraud Task Force by attending monthly meetings and provides input on group discussions. Uses the Task Force to expand network contacts for Fraud investigations.
* Works directly with Fraud Analyst to ensure all fraud prevention measures are reviewed and acted upon within a timely manner.
* Assist in developing, preparing, and providing a monthly dashboard of fraud related data and expert commentary.
* BSA/AML, OFAC and Patriot Act compliance monitoring.
* Reviews money laundering and fraud alerts in Verafin and opens cases when necessary for investigation.
* Identifying and reporting unusual and suspicious activity under the requirements of the BSA/Anti-Money Laundering Act.
* Performs ongoing due diligence on all high-risk accounts and maintains appropriate documentation and controls.
* Analyzes and makes decisions on BSA - related exceptions: CIP discrepancies, alerts and transaction monitoring of high-risk members, members peer analysis and financial irregularities.
* Works with Compliance Analyst to collect and review information for monthly compliance audits.
* Works with very sensitive information and maintains confidentiality of all sensitive information as it pertains to members and member related research/investigations.
* Compliance Monitoring of BSA/AML, OFAC and Patriot Act.
* Collects information and responds to subpoenas and formal inquiries.
* Works with very sensitive information and maintains confidentiality of all sensitive information as it pertains to members and member related research/investigations.
* Serves as a back-up to the Compliance Analyst and Fraud Analyst.
Other Responsibilities:
* Performs job duties in accordance with policies established by the Board of Directors under the rules and regulations set by the National Credit Union Administration, the State of Florida, and any applicable State laws for financial centers located in other States.
* Complies with Reg E, BSA, OFAC, and CIP requirements such as reporting suspicious or unusual activity to manager.
* Fully supports in actions and words First Commerce's Vision, Mission, Core Values, and Service Standards.
* Attends meetings timely and as required; reports to work as scheduled and adheres to First Commerce's dress code.
* Performs other duties as assigned.
REQUIREMENTS:
* Consistently displays excellent communication skills both written and verbal.
* Ability to learn and perform complex processes to meet specific procedures, policies, and BSA/AML/USA Patriot Act regulations.
* Strong investigative, interpersonal, communication, member service, and analytical experience skills.
* Must maintain strict confidentiality of all nonpublic private information obtained through role at the Credit Union.
* Ability to define problems, collect data, establish facts, and draw valid conclusions.
* Strong database skills preferred.
* Must have analytical skills and a proven ability toward conflict resolution.
* Individual must be detail oriented, self-starter, and prior demonstration of good judgment.
* Works independently to accomplish tasks.
EDUCATION AND EXPERIENCE:
* A minimum of a high school diploma, college degree preferred.
* Minimum of 5 years' experience working in fraud prevention OR a minimum of 5 years' accounting experience inclusive of account analysis. Completion of 4 year degree in related area plus at least 1 year's fraud prevention experience or 1 years' accounting experience inclusive of account analysis may be substituted for experience requirements.
* Previous experience with Verafin preferred.
The Risk Analyst works directly with other members of the Risk Management team by assisting in both fraud prevention and regulatory compliance reviews. The position is responsible for detailed and involved research and analysis of activity to assess levels of fraud risk or threats. Conducts research and analyzes member accounts for possible cases of fraud and ensures most efficient fraud loss prevention strategies are utilized. A special focus on compliance with all rules and regulations enforced by various Federal and State Agencies. Assists in the filing of regulatory compliance forms and is involved in the internal compliance audit functions. Serves as a complete back-up to both the Compliance Analyst and Fraud Analyst positions.
RESPONSIBILITIES:
* Monitors member accounts for possible fraud using internal reports (external transfers, check fraud, ATM fraud, mobile deposit fraud, bill pay fraud, etc.)
* Actively participates in the Big Bend Fraud Task Force by attending monthly meetings and provides input on group discussions. Uses the Task Force to expand network contacts for Fraud investigations.
* Works directly with Fraud Analyst to ensure all fraud prevention measures are reviewed and acted upon within a timely manner.
* Assist in developing, preparing, and providing a monthly dashboard of fraud related data and expert commentary.
* BSA/AML, OFAC and Patriot Act compliance monitoring.
* Reviews money laundering and fraud alerts in Verafin and opens cases when necessary for investigation.
* Identifying and reporting unusual and suspicious activity under the requirements of the BSA/Anti-Money Laundering Act.
* Performs ongoing due diligence on all high-risk accounts and maintains appropriate documentation and controls.
* Analyzes and makes decisions on BSA - related exceptions: CIP discrepancies, alerts and transaction monitoring of high-risk members, members peer analysis and financial irregularities.
* Works with Compliance Analyst to collect and review information for monthly compliance audits.
* Works with very sensitive information and maintains confidentiality of all sensitive information as it pertains to members and member related research/investigations.
* Compliance Monitoring of BSA/AML, OFAC and Patriot Act.
* Collects information and responds to subpoenas and formal inquiries.
* Works with very sensitive information and maintains confidentiality of all sensitive information as it pertains to members and member related research/investigations.
* Serves as a back-up to the Compliance Analyst and Fraud Analyst.
Other Responsibilities:
* Performs job duties in accordance with policies established by the Board of Directors under the rules and regulations set by the National Credit Union Administration, the State of Florida, and any applicable State laws for financial centers located in other States.
* Complies with Reg E, BSA, OFAC, and CIP requirements such as reporting suspicious or unusual activity to manager.
* Fully supports in actions and words First Commerce's Vision, Mission, Core Values, and Service Standards.
* Attends meetings timely and as required; reports to work as scheduled and adheres to First Commerce's dress code.
* Performs other duties as assigned.
REQUIREMENTS:
* Consistently displays excellent communication skills both written and verbal.
* Ability to learn and perform complex processes to meet specific procedures, policies, and BSA/AML/USA Patriot Act regulations.
* Strong investigative, interpersonal, communication, member service, and analytical experience skills.
* Must maintain strict confidentiality of all nonpublic private information obtained through role at the Credit Union.
* Ability to define problems, collect data, establish facts, and draw valid conclusions.
* Strong database skills preferred.
* Must have analytical skills and a proven ability toward conflict resolution.
* Individual must be detail oriented, self-starter, and prior demonstration of good judgment.
* Works independently to accomplish tasks.
EDUCATION AND EXPERIENCE:
* A minimum of a high school diploma, college degree preferred.
* Minimum of 5 years' experience working in fraud prevention OR a minimum of 5 years' accounting experience inclusive of account analysis. Completion of 4 year degree in related area plus at least 1 year's fraud prevention experience or 1 years' accounting experience inclusive of account analysis may be substituted for experience requirements.
* Previous experience with Verafin preferred.
Recommended Skills
- Accounting
- Accounting Control
- Administration
- Analytical
- Attention To Detail
- Auditing
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