Financial Investigator

The Financial Investigator II is a second-level position responsible for leading complex financial investigations, ensuring regulatory compliance, and enhancing fraud prevention strategies. Reports directly to the Fraud Operations Manager and will be a member of the Financial Investigations Unit within the Risk Management Department. This role requires extensive experience in BSA/AML compliance, fraud detection, and risk management. The Financial Investigator II will serve as a key resource for high-risk account monitoring, internal controls, and staff training. Performs all duties in accordance with the Credit Union’s policies and procedures, all state and federal laws and regulations, where in the Credit Union operates.

ESSENTIAL FUNCTIONS AND BASIC DUTIES

BSA/AML Compliance:

1.      Lead complex investigations and ensure accurate and timely filing of Suspicious Activity Reports (SARs).

2.      Compile and file Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) as required by regulatory guidelines.

3.      Perform advanced quality control reviews on BSA/AML-related reports and regulatory filings, including CTRs and SARs.

4.      Perform quality reviews related to Regulation GG and business accounts.

5.      Conduct Enhanced Due Diligence (EDD) on high-risk accounts.

6.      Oversee ongoing monitoring and analysis of high-risk members, industries, and accounts.

7.      Ensure proper documentation and management of fraud investigations and SAR filings.

8.      Oversee and refine transaction monitoring processes to identify suspicious activity.

9.      Manage compliance with the Office of Foreign Assets Control (OFAC) regulations and sanctions screening.

10.  Assist in policy development and regulatory compliance updates.

11.  Provide expert analysis and reporting on BSA/AML compliance trends.

Fraud Prevention & Investigation:

1.      Investigate sophisticated fraud schemes including account takeovers, insider fraud claims, account and loan fraud, and cyber-related financial crimes.

2.      Investigates potential check and deposit fraud, debit card, and checking irregularities, including: returned deposited items, wire and ACH activity, check kiting, new account fraud activity, commercial and consumer loan fraud, and any other suspicious or fraudulent activities.

3.      Collaborate with law enforcement agencies and other financial institutions.

4.      Develop proactive fraud prevention measures and risk mitigation strategies.

5.      Provide advanced guidance to staff on fraud trends and emerging threats.

Security & Risk Management:

1.      Oversee security access control related to key fobs and alarm codes for branch locations.

2.      Review security camera footage as part of investigations and to ensure camera systems are working properly.

3.      Assist the VP, Risk Management with Business Continuity Planning tasks and oversight.

4.      Serve as a member of the Security Team which handles evaluating current physical security measures, incident management, and disaster recovery preparedness planning.

5.      Participate and assist with managing the External Fraud Task Force by planning monthly meetings, preparing agendas, and collaborating with attendees.

6.      Assist with tracking and assigning out to appropriate business unit leaders any consumer complaints received.

Staff Support & Training:

1.      Assist other staff with Risk Management Department questions and advise accordingly.

2.      Assist members and non-members (as needed) regarding fraud, suspicious activity, and complaints and provide guidance on and assistance with next steps for mitigating their risk.

3.      Assist the Fraud Operations Manager with developing and updating training materials related to fraud detection, BSA/AML compliance, and risk mitigation.

4.      Act as a mentor and resource for junior investigators and frontline employees.

5.      Stay ahead of industry best practices and regulatory developments.

PERFORMANCE MEASUREMENTS

1.      Risk Management functions are well coordinated with departments and branches.

2.      Good business relations exist with outside financial institutions, law enforcement agencies, vendors, and business professionals.

3.      CTRs and SARs are filing accurately and in a timely manner.

4.      BSA/AML and fraud alerts are investigated and resolved within the month generated.

5.      Quality Control review are performed and issues identified are quickly resolved.

6.      Regular participation in professional development or industry events.

7.      Fortera Core Values are satisfactorily demonstrated.

QUALIFICATIONS

Education/Certification:             Bachelor’s degree in Criminal Justice, Finance, Business Administration or an equivalent combination of formal training and experience. Ability to obtain Credit Union professional certifications such as Certified Bank Secrecy Act Professional (CBSAP), Certified Anti-Money Laundering Specialist (CAMS), etc.

Required Knowledge:                            Thorough knowledge of credit union industry and required regulations. 

Experience Required:                 Minimum of 5 years of experience in BSA/AML compliance, fraud investigations, or financial crimes analysis in a Credit Union or similar financial institution.  

Skills/Abilities:                                           Extensive experience with fraud detection tools, transaction monitoring systems, and case management software.

                                                                               Excellent analytical and problem-solving skills.

                                                           Strong leadership and investigative skills, with the ability to handle complex cases.

                                                           Exceptional communication skills, both written and oral, for preparing reports and presenting findings.

                                                           Ability to conduct thorough research, interpret and understand laws and regulations and provide workable recommendations and solutions to problems.

                                                           Ability to work independently, as a team, and handle multiple tasks in a fast-paced environment.

                                                           Strong project management skills and the ability to move multiple streams of work forward simultaneously.

                                                           Ability to create momentum and promote change.

                                                           Provides support to management to ensure the mission, vision, and values of the Credit Union are met.

                                                           Ability to operate PC, related software applications, and standard office equipment.

                                                           Ability to work in a cooperative manner with others.

                                                           Ability to work well under pressure while always maintaining a professional demeanor.