Fraud Analyst

* This role is open to remote work within the Washington Trust Bank footprint of WA, ID and OR. *

This position is responsible for supporting the FRAML department with the day-to-day implementation and administration of the WTB’s BSA/AML/OFAC Compliance Program, established procedures and internal controls. This position may function in more than one of the following areas: decision-making automated monitoring alerts, escalating appropriate alerts for investigation, documenting the outcome of the investigation; preparing and filing required regulatory reports (CTR and SAR) to FinCEN; identifying, responding to, and investigating incidents of fraud or unauthorized activity such as card fraud, check fraud, ACH fraud, wire fraud and identity theft; and completing Enhanced Due Diligence reviews. Generally, this position requires independent, technical analysis in all job duties and may function as a subject matter expert at the discretion of the BSA Officer.

Essential Functions

BSA/AML/OFAC

• Reviews alerts generated from WTB’s automated monitoring system to identify customer transactions that present an increased risk of money laundering and/or suspicious activity.


• Reviews alerts generated from 314a Information Sharing request and file regulatory reports with FinCEN as required.


• Investigates 314b Information Sharing requests as assigned and prepares 314b Information Sharing request for processing.


• Reviews OFAC alerts generated from WTB’s activities to identify alerts that can be either cleared or actioned to the BSA Officer.


• Meet expected review timeframes for alert review, case investigations, and regulatory filings. Utilize critical thinking, trend/pattern analysis, and documentary review to support conclusions.


• Completes the daily Currency Transaction Reporting (CTR) requirements in accordance with specific guidelines and timeframes.


• Investigates and documents unusual customer activity or transaction patterns, identified by line personnel, utilizing the Bank’s various software applications and reports to determine if activity is suspicious in nature.


• Completes annual review of exempt Currency Transaction Reporting customers.


• Escalates issues as warranted to team lead and department management


• Completes Enhanced Due Diligence reviews within required time.


• Assists the BSA Officer in identifying and assessing risk.


• Responsible for meeting risk management compliance expectations as they pertain to the BSA/AML/OFAC requirements.


• Maintains knowledge of current FFIEC BSA/AML Examination manual.

Administrative Duties

• Collaborates and communicates with a broad range of contacts in- and out-side the Bank, providing timely, relevant information and assistance. Answers department related questions and inquiries from employees within scope of responsibility, offering assistance and guidance that encourages a positive work environment.


• Thoroughly documents work and ensures work products are archived in accordance with department procedures.

Fraud

• Reviews the bank’s automated monitoring software’s daily fraud alerts to determine if fraudulent activity has occurred and if further investigation is warranted.


• Acts as fraud investigator to confer with complainants, attorneys, law enforcement agencies, Bank counsel, and others to resolve fraud investigations.


• Centrally compiles and inputs fraud reporting information for Bank use and BSA/AML reporting.


• Generates reports from Fraud monitoring systems.


• Reviews reported fraudulent transactions for potential suspicious activity concerns.

Related Functions

• Performs special investigations or projects, as assigned.


• Assists in providing selected fraud and BSA/AML training to business units as assigned.


• Evaluates and makes recommendations to strengthen the control environment or improve monitoring techniques to promote compliance with the BSA/AML/OFAC Compliance Program and approved department procedures.


• Obtains and maintains professional certification and expertise through attendance at meetings of professional organizations, conferences, seminars, etc.


• Works closely with line management and staff to document and communicate issues.


• Performs compliance and risk management duties as required or assigned.


• Regular, reliable attendance is required.

Qualifications

• College degree or equivalent experience in Accounting, Business Administration or Bank Operations preferred.


• Basic to intermediate knowledge of BSA/AML/OFAC regulations.


• Knowledge of bank’s automated monitoring applications preferred.


• Ability to multi-task effectively, prioritizing multiple projects in a fast-paced environment while maintaining professional demeanor.


• High degree of PC based technical skills, including proficiency with the Microsoft Suite.


• Knowledge and familiarity of bank core processing platform and associated applications preferred.


• Ability to maintain confidentiality of sensitive issues.


• Strong interpersonal skills to maintain excellent relationships with management, staff, and team members, using diplomacy and tact effectively.


• Demonstrate written and verbal communication skills.


• Superior time management and organizational skills; ability to coordinate own work and work of others to keep projects on task.


• Basic to intermediate money-laundering and fraud investigation skills.


• Exercise judgment within defined procedures and practices to determine appropriate action.


• Ability to analyze and interpret data to make recommendations on customer relationships.


• Independent judgment and discretion required in performing assigned tasks including decision making which may have customer or bank-wide impact.

Pay Range:

FRAML Analyst I- $20.67-$31.03 per hour

FRAML Analyst II- $22.50- $33.76 per hour

FRAML Analyst III- $24.45-$36.71 per hour

The compensation range represents the low and high end of the base compensation range for this position located in Central/Eastern Washington area. Actual compensation will vary and may be above or below the range based on various factors including but not limited to location, experience, and performance

Candidates in Seattle, WA metro area can anticipate a pay range of:

FRAML Analyst I- $28.93-$43.44 per hour

FRAML Analyst II- $31.51-$47.26 per hour

FRAML Analyst III- $34.23-$51.39 per hour

Candidates in Portland, OR metro area can anticipate a pay range of:

FRAML Analyst I- $25.83-$38.78 per hour

FRAML Analyst II- $28.13-$42.20 per hour

FRAML Analyst III- $30.57-$45.88 per hour

What Our Culture Can Offer You:

Our benefit philosophy is to provide you with a comprehensive package to secure your overall wellness and help you become and remain a fulfilled and productive employee. Our benefits include Health, Financial, Retirement and Work/Life Benefits. We are proud to share an overview of our benefits HERE as part of your total compensation.

Washington Trust Bank celebrates diversity in the workplace and actively recruits talent to help reflect the unique communities where we live and work. We are proud to be an equal opportunity employer and prohibit discrimination or harassment based on race, religion, sex, gender identity, sexual orientation, national origin, age, pregnancy, disability, genetic information and any other protected characteristics outline by state, federal and local laws. We believe strength comes from the diverse backgrounds and experiences of our team, and we are dedicated to fostering a supportive and inclusive work environment.