Job Description

Job Description

Job Description

Middletown Valley Bank is a growing organization, and we are looking for people who believe in providing an Absolutely Exceptional Experience to our customers, communities, and fellow team members. Become a part of our team and join a company with a professional and positive work environment, caring culture, great benefits and rewarding work opportunities.

General Summary

The BSA/Fraud Analyst (BFA) is responsible for supporting all aspects of the Bank's BSA, OFAC, fraud monitoring, and loss prevention programs. The BFA will assist with investigations, monitoring transactions, assisting with regulatory reporting, and ensuring the Bank remains in compliance with applicable regulations and laws.

The Analyst will also contribute to annual BSA-related risk assessments, support internal teams with compliance-related questions, and serves as a resource across departments for BSA and fraud-related matters.

Primary Duties and Responsibilities

Bank Secrecy Act (BSA) & Compliance:

• Establishes and follows methods to monitor and communicate new deposit and BSA compliance issues including changes in laws, regulations, standards, and bank-defined policy.
• Assists the BSA Officer in responding to deposit and BSA compliance inquiries and supporting the development of the annual BSA/CIP effectiveness report to the Board of Directors.
• Prepares and files required regulatory reports such as Suspicious Activity Reports (SARs), Currency Transaction Reports (CTRs), and High-Risk Reviews.
• Responds to information requests under the FINCEN 314 program in a timely manner.
• Assists the BSA Officer with conducting regular monitoring/worklists for BSA using transactions surveillance software.
• Investigates, researches and identifies activity for possible Suspicious Activity Report (SAR) filings. Complete written SARs.
• Assists in investigations referred by bank staff, including counterfeit currency reporting and other unusual activity.

Fraud Monitoring and Loss Prevention:

• Conduct and document fraud investigations; escalate findings to the BSA Officer.
• Review daily fraud alerts and flagged transactions, initiating follow-up investigations as appropriate.
• Stay current on fraud mitigation practices via industry resources and forums.
• Act as a resource for bank staff with inquiries on potential fraudulent or suspicious activity.
• Administer transaction monitoring rules and perform daily review of items flagged initiating investigation where necessary.
• Collaborate with the BSA Officer to analyze and report suspicious activity and enhance fraud prevention strategies.

Other:

• Maintain positive working relationships with regulators, industry peers, business partners, and internal departments.
• Develops, coordinates, and assists in the implementation of policies and procedures and identifies process efficiencies.
• Follows up on complaint log items reported from across the Bank, ensuring appropriate documentation and resolution.
• Willingness to receive continuing education and training on regulations and products to remain current to changes and trends in the industry.
• Cooperates with, participates in, and supports the adherence to all internal policies, procedures, and practices in support of risk management and overall safety and soundness and the bank's compliance with all regulatory requirements, e.g. Community Reinvestment Act (CRA), Bank Secrecy Act (BSA), Equal Credit Opportunity Act, etc.
• Other duties necessary to meet business objectives.
• Supports and participates in community activities and initiatives.

Knowledge, Skills, and Abilities

• Requires a bachelor’s degree in business, finance, or related field of study. In lieu of a degree, a comparable combination of education and related experience may be considered.
• 1-2 years of related work experience in compliance, anti-money laundering and Bank Secrecy compliance in the financial services industry.
• Strong knowledge of compliance in the financial services industry, including banking regulations.
• Proficient in Microsoft Office.
• Solid analytical and critical thinking skills; able to make sound decisions based on available data.
• Strong written, verbal and interpersonal communication skills; able to work cross-functionally with various departments.
• Strong organizational skills with the ability to multi-task and manage multiple tasks.
• Ability to adapt easily in an ever-changing technological environment.
• Availability to occasionally work extended hours beyond normal work week and normal work hours.
• Periodically travel to maintain required knowledge and to establish and nurture relationships with peers.
• Commitment to Middletown Valley Bank’s Code of Ethics and Values.

Work Environment:

• While performing the duties of this job, the employee is regularly required to stand, walk, see, use hands to type, carry, handle, and feel objects, reach with hands and arms, talk, and hear.
• The employee must occasionally lift and/or move up to 25 pounds or more.
• The job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets, and fax machines.
• The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals to perform the essential functions.

Full Time Benefits:

• Health, Dental, and Vision Insurance
• Life Insurance
• Short Term & Long-Term Disability
• 401k Savings Plan
• Paid Holidays
• Paid Time Off
• Professional Development
• Employee Assistance Program

This job description represents a summary of typical functions of the job, not an exhaustive list of all possible responsibilities, tasks, and duties.

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