Senior Fraud Analyst

Overview

• The Senior Fraud Analyst is responsible for leading fraud prevention, detection, and investigation efforts across the bank’s operations. This role plays a key part in safeguarding the bank and its customers from fraudulent activities, ensuring regulatory compliance, and enhancing internal fraud mitigation strategies. The analyst works closely with internal departments, law enforcement, and industry partners to investigate suspicious activities, recommend controls, and provide fraud-related insights. This position will cross-train and support BSA, AML/CFT, OFAC and other Risk Management accountabilities.

Purpose

• The purpose of the Senior Fraud Analyst position is to protect the bank’s customers, assets, and reputation by proactively identifying, investigating, and mitigating fraudulent activity. This role ensures the bank maintains strong risk management practices, complies with regulatory obligations, and responds effectively to emerging fraud threats. The Senior Fraud Analyst serves as a key resource in developing fraud strategies, leading investigations, and advising on internal controls to reduce the risk of financial crime within the institution.

Bank Culture

• Locality Bank is a community bank with an innovative spirit. We empower local businesses to maximize their potential through personalized banking solutions, deep relationships, and forward-thinking financial technology. The bank’s culture blends inspiring innovative ideas, ownership, trust and authenticity with the warmth of a community bank. We believe a successful, local, banking relationship brings business success too.

Essential Duties and Responsibilities

• Monitor transactions and account activity for suspicious or fraudulent behavior using fraud detection systems and manual review processes.
• Investigate internal and external fraud cases involving deposit accounts, debit cards, online banking, ACH, wire transfers, loan, and new account fraud.
• Manage business debit card disputes in coordination with the bank’s core processor and Deposit Operations.
• Report monthly and contribute as a member of the SARs Committee.
• Prepare monthly reports for board presentation
• Conduct root cause analysis of fraud incidents and recommend process or control improvements.
• Prepare detailed fraud investigation reports, including findings, supporting evidence, and recommended actions.
• Collaborate with law enforcement and other financial institutions as necessary to support investigations and recover funds.
• File suspicious activity reports (SARs) and ensure timely and accurate documentation of case details.
• File currency transaction reports (CTRs) timely as a backup to the BSA Administration Manager
• Maintain current knowledge of fraud trends, schemes, and tools used in financial crimes.
• Lead or support fraud risk assessments and system enhancements.
• Provide mentorship and guidance to risk management or bank staff on fraud prevention best practices.
• Participate in fraud training and awareness programs for bank employees.
• Assist with the development of policies and procedures related to fraud risk management.
• Act as a fraud subject matter expert during audits, exams, and internal projects.
• Cross train and be proficient with the bank’s BSA AML/CFT software

Qualifications and Education Requirements

• Bachelor’s degree in Criminal Justice, Finance, Business, or related field (or equivalent experience).
• Minimum 2 years of experience in fraud investigation or financial crimes, preferably in community banking.
• Certified Fraud Examiner (CFE), Certified Financial Crime Specialist (CFCS), or similar certification preferred.
• Strong knowledge of fraud detection systems, financial products, and regulatory requirements (BSA, CFT/AML, OFAC, Reg E, etc.).
• Excellent analytical, investigative, and decision-making skills.
• Strong organizational and time management skills.
• Proficient in preparing detailed and accurate written and tracking reports
• Verbal communication skills are critical for this position.
• Strong understanding of current fraud trends and mitigation techniques.
• High level of integrity, discretion, and professionalism
• Ability to work independently and possess analytical skills demonstrates accountability for the workday
• Maintain confidentiality and establish effective working relationships with management, staff, regulators and auditors.
• Must be able to demonstrate elevated levels of proficiency the Bank’s core processing system, fraud detection software, BSA monitoring software, Microsoft Office, email, copy, scan, and DocuSign.

Direct reports

• None