Fraud Analyst - Payments and Risk

OVERVIEW

Supporting the BSA Financial Crime Investigations (“FCI”) function, fraud prevention and monitoring processes, the FCI Fraud Analyst is responsible for conducting detailed fraud reviews and investigations involving the Bank’s retail customer base and digital payments activity associated with third-party program manager relationships to ensure sufficient support and the ongoing effectiveness of the Bank’s financial crime risk management framework. This role investigates fraud alerts generated by the Bank’s suspicious activity monitoring systems as well as fraud-related referrals escalated by program managers. The Fraud Analyst analyzes risk exposure, account activity, customer behavior, transactional patterns, alert data, and supporting documentation to develop well-supported investigation conclusions. The role requires a working knowledge of BSA/AML requirements and helps protect the integrity of the Bank’s retail and digital payments activities by following applicable laws, regulations, policies, and procedures designed to mitigate fraud, chargeback, regulatory, and reputational risk. This role requires availability during Eastern Time business hours regardless of work location.

ESSENTIAL DUTIES AND RESPONSIBILITES include the following.

• Review fraud alerts generated by the Bank’s monitoring systems for transactional data and account activity that could indicate unusual, potentially suspicious, or fraudulent activity.
• Conduct timely, accurate, and well-documented fraud investigations involving retail banking and digital payments activity.
• Evaluate customer activity, transaction patterns, account behavior, and supporting documentation to determine appropriate risk-based actions, including escalation, closure, continued monitoring, or referral.
• Identify fraud trends, typologies, control gaps, and emerging risks, and communicate observations and recommendations to management.
• Document investigation findings, analysis, conclusions, and supporting rationale in accordance with departmental standards, internal procedures, and audit expectations.
• Assist with the preparation and filing of Suspicious Activity Reports (“SARs”).
• Partner with BSA Operations, Fraud, Retail Banking, Operations, Risk, Compliance, and program manager stakeholders to support consistent fraud review, escalation, and reporting practices.
• Perform or support adverse media, sanctions, PEP, and other screening reviews when needed to assess potential financial, regulatory, reputational, or fraud risk.
• Maintain current knowledge of the Bank’s products, services, customer base, geographic footprint.
• Maintain proficiency in BSA/AML compliance requirements relevant to fraud monitoring, investigation, escalation, and suspicious activity reporting.
• Provide clear verbal and written updates to management, business partners, and other stakeholders regarding investigation results, risks, and recommended actions.
• Assist with special projects, remediation activities, policy and procedure updates, process improvements, and control enhancements related to fraud prevention and monitoring.
• All employees are responsible for compliance with the Bank Secrecy Act and in some roles, OFAC regulations. Depending on job responsibilities, more or less aspects of the regulations may apply, but at a minimum, all employees are responsible for reporting suspicious activity they identify in the course of performing their job duties. This includes activities conducted by customers, fellow employees, board members, and vendors.

SUPERVISORY RESPONSIBILITIES

This job does not have managerial responsibilities.