BSA and Fraud Analyst

About the position This is a hybrid role that requires some on-site work (inside our Indianapolis, Indiana office). In addition to the on-site duties, there are additional responsibilities that can be completed outside of the office, resulting in this being a hybrid role. Elements Financial is a Best Place to Work because our employees are empowered to Be the Expert, Live the Purpose, and Grow the Business. Our Purpose is to Empower Members to Achieve Financial Success. The BSA and Fraud Analyst helps reduce the risk of fraud losses and ensures that Elements is in compliance with BSA regulations through the use of industry leading monitoring systems. This supports Elements’ ability to provide our members fast and efficient movement of funds. Moreover, this role makes it easy for members to do business when, how, and where they want.

Responsibilities

• Maintain knowledge of BSA compliance developments, regulatory changes, and credit union changes (products, services, processes) that may impact BSA risk and BSA regulatory compliance.
• Maintain knowledge of current fraud trends impacting BSA alerts and risk to the overall credit union and its membership.
• Manage pulling data and documentation cross-functional problem-solving efforts within Elements and with other FIs and law enforcement entities.
• Assist with internal and external BSA auditors and NCUA examiners and the implementation of any corrective matters, findings, and observations.
• Analyze daily cash reports and shared branch reports for potential risk of anti-money laundering risk
• Research unusual items and use critical thinking skills to determine regulatory reportable items.
• Complete all reporting in accordance with FINCEN guidance.
• Collaborate with other employees and departments to obtain all necessary information for regulatory reporting.
• Analyze daily fraud and risk alerts (wire fraud, check fraud, elder abuse, etc.) in Verafin, research the alert using multiple systems (DNA, Wire Exchange, Ensenta, etc.) to analyze the member transactions. tUse critical thinking to determine if alert enquires regulatory reporting or can be documented why alert is a false positive. If regulatory reporting is required pull needed documentation and complete the required regulatory reporting and documentation.
• Collaborate with branch staff on cash transactions to report with a high level of detail and accuracy any currency transactions meeting the regulations set forth by FINCEN.
• Review and analyze new account documentation to ensure adequate compliance with CIP requirements and documentation. tFollow up with member facing staff to ensure all CIP requirements are obtained and accurately documented.
• Collaborate with other Credit Union departments regarding various alerts and potential frauds impacting our members or the Elements. Analyzing patterns in fraud throughout various channels, cards, loan and membership applications, transaction methods, etc.
• Analyze monthly BSA alerts with a high degree of attention, determine if the member transactions are suspicious and assist with the requiredtBSA reporting (SARS)
• Administer compliance with OFAC.
• Assist with Loss Prevention cases in Salesforce to investigate, mitigate, and follow-up on fraudulent or suspicious activity where members may be involved.
• Review and analyze new membership transactions and applications to determine any potential fraud patterns and fraud risks. Use critical thinking to determine wholistic risk, the necessary departments to include, the channels to monitor, and the proactive steps for mitigating fraud risk.
• Collaborate with various departments to connect the necessary member facing staff, at risk departments, and department owners during instances of fraud impacting our membership or other credit union peers.
• Assist with the ongoing monitoring of Elements’ Customer Due Diligence (CDD)/Enhanced Due Diligence (EDD) to ensure accurate documentation, and resolution of unusual items or missing items.
• Assist with staff and board of directors BSA training needs.
• Assist with internal and external BSA auditors and NCUA examiners.
• Continue to develop knowledge of industry practices, products and professional growth.
• Participate in appropriate learning opportunities to maintain expertise.
• Continue to grow through ongoing training, industry roundtables, peer networking and continued education and certifications.
• Grow to become a systems expert at Elements and be a lifelong learner of technology to ensure proper leverage of systems to effectively mitigate fraud and research/analyze risk at Elements.

Requirements

• High school diploma or equivalent plus 3-5 years of financial institution experience.
• Experience in various systems, Verafin, DNA, wire exchange, Ensenta, and Salesforce.
• Excellent research, analytical, and organizational skills.
• Strong analyzing and critical thinking skills as well as internal and external communication skills.
• Strong collabora

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