BSA and Fraud Analyst

This position is based in Northbrook, IL, and requires the ability to be in the office 5 Days a week.

Overview

SmartBiz Bank offers a broad range of business banking solutions to small businesses across the U.S. – solutions built specifically to serve the dynamic needs of entrepreneurs and foster the growth of the small business community. SmartBiz Bank’s commitment to transparency and personalized customer service offers an unparalleled banking experience, ensuring small businesses have the financial services they need to grow and thrive. Headquartered in Northbrook, Illinois, with an additional office in Austin, Texas, we are proud to serve both our local and national small business communities.

BSA and Fraud Analyst Responsibilities

Reporting Line: This role reports to the Bank’s BSA Officer.

Support the BSA Officer in implementing and maintaining the Bank’s BSA/AML and OFAC Compliance Programs in accordance with Bank policies, procedures, and applicable regulatory requirements.

Monitor daily data imports into the Bank’s BSA/AML monitoring system (Abrigo BAM+) to ensure data accuracy and completeness. Identify, investigate, and resolve data validation errors or transmission issues.

Review and investigate transaction monitoring alerts and cases to identify unusual or potentially suspicious activities. Document findings and escalate matters requiring further review to the BSA Officer.

Conduct suspicious activity investigations, gather supporting documentation, prepare investigation narratives, and draft initial and continuing Suspicious Activity Reports (SARs) for the BSA Officer’s review and approval. Perform periodic follow-up reviews in accordance with regulatory requirements and Bank procedures.

Review cash transactions, prepare Currency Transaction Reports (CTRs), and verify the accuracy and completeness of reporting information to support timely filing with FinCEN.

Review and monitor customers designated as exempt from CTR reporting to ensure continued eligibility and compliance with applicable requirements.

Conduct and document OFAC sanctions screening and Section 314(a) information-sharing reviews. Investigate potential matches and escalate findings in accordance with Bank procedures.

Review new consumer and business account documentation, verify customer risk ratings, and identify potential BSA/AML compliance concerns.

Perform periodic reviews of medium- and high-risk customers, including customer profiles, account activities, and supporting documentation, in accordance with the Bank’s risk-based monitoring schedule.

Investigate potential fraud involving loan applications, altered or fraudulent documents, identity theft, check fraud, ACH fraud, and other suspicious activities. Document findings and escalate significant fraud concerns to the BSA Office.

Assist with regulatory examinations, independent audits, and internal compliance reviews by preparing requested documentation and supporting corrective actions.

Perform additional BSA/AML, OFAC, fraud prevention, and compliance-related duties or special projects as assigned.

Requirements:

2 years of related work experience in compliance, fraud, anti-money laundering and Bank Secrecy Act compliance in the financial services industry.

Knowledge of Bank Secrecy Act regulatory requirements, including CTRs, OFAC CDD and SARs, and basic knowledge of banking regulations.

Experience with banking systems and anti-money laundering monitoring tools, such as Abrigo BAM+ or other AML monitoring systems.

Understanding of financial crime detection and prevention techniques.

Opportunities & Benefits at SmartBiz Bank:

Mission-driven culture focused on small business banking.

Competitive compensation and equity participation where applicable.

Employer-paid medical, dental, vision, life, and disability insurance for eligible employees and dependents.

401(k) retirement plan.

Flexible vacation policy.

-- SmartBiz Bank is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. California residents can learn more about how we use your information by visiting https://sites.google.com/view/smartbizloans-employment-ccpa