BSA/Fraud Team Leader

Company: Needham Bank
Location: Wellesley
Posted on: April 13, 2025

Job Description:

BSA/Fraud Team Leader

• Job Tracking ID : 512272-893447
• Job Location :
• Job Level : Mid Career
• Level of Education : BA/BS
• Job Type : Full-Time/Regular
• Date Updated : 02/10/2025
• Years of Experience : Not Applicable
• Starting Date : Invalid Date
• Salary : $0 Job Description Under the directionof the BSA Officer, supervise a team of BSA/Fraud analysts; aid in identifying potential AML/CFT/Fraud risks and participate in creating compensating controls; participate in bank projects and act as a subject matter expert to the various business lines and support units within the bank; complete coverage assessments as regulations change and bank activities evolve; complete cases, alerts, regulatory reports as necessary; and any other duties assigned by management.ESSENTIAL DUTIES & RESPONSIBILITIES
  • In addition to fulfilling BSA/Fraud Analyst duties, responsible for the supervision of a team of BSA analysts, including training, development, administrative functions, as well as performance evaluations.
  • Responsible for conducting quality control on CTRs, SAR Investigations, EDD investigations, and other areas within the BSA/AML department and enterprise-wide BSA requirements; to include high risk customer types such as marijuana businesses and money service businesses.
  • The BSA/Fraud Team Leader will conduct QC reviews of alerts, cases, CTRs, and other reports as necessary.
  • Stay up to date on pertinent regulations and help ensure that the department is engaged in best practices.
  • Responsible for maintaining MIS for internal department use, as well as reporting to senior management and other departments.
  • Serve in a QC function for various BSA requirements for other business lines and support units.
  • Responsible for account/transaction monitoring through the use of various reports and the Bank's AML/Fraud monitoring software.
  • Analyze and research additional high-risk transactions and ad-hoc reports to identify/investigate possible cases of fraud and/or Money Laundering.
  • Ensure that deadlines for regulatory related report submissions are met and that that customer monitoring functions are completed timely.
  • With the BSA Officer, and independently, stay up to date on pertinent regulations, regulatory enforcement actions, and industry best practice.
  • Help build, populate, and maintain MIS for internal department use, as well as reporting to senior management and other departments.
  • Provides guidance and expert support to the various business and operations lines, as well as on-going training related to Fraud and BSA, to assist the Bank in understanding BSA/Compliance and Fraud regulations and requirements.
  • Analyzes new and pending laws and regulations and assists in implementation to ensure that the Bank is meeting all applicable requirements
  • Assist management in regulatory exams and internal audits.
  • Uphold the strict BSA/Fraud related standards set forth by the Bank, as described in the Corporate BSA/AML Program.Adhere to the Bank's and BSA confidentiality policy, code of ethics and follow all policies and procedures relative to Consumer Compliance laws and regulations and best practice recommendations.
  • Fosters teamwork and collaboration with others across the Bank, building positive constructive working relationships, supporting the Bank's strategic plan, and demonstrating the Bank's core values
  • Perform additional duties as requested, needed or assigned. Experience and Skills JOB REQUIREMENTS
    • Knowledge of Bank Secrecy Act, Anti-Money Laundering, Office of Foreign Assets Control regulations and Bank Policies.
    • Ability to read, analyze, and interpret Federal and State Banking Regulations; specifically, Reg CC, Reg E and the Bank Secrecy Act.
    • Knowledge of applicable banking laws and procedures relevant to fraud mitigation and investigations.
    • Strong and effective written and oral communication skills and an ability to write reports and business correspondence.
    • Able to recognize operational and system control gaps and recommend solutions to management.
    • Have a strong working knowledge of Excel, Word, and Outlook, and be comfortable learning and using new software.
    • Demonstrated ability to work with others and influence peers.
    • Must be self-motivated, professional, detail oriented organized and able to effectively handle multiple assignments and changing priorities.
    • Ability to adhere to Needham Bank's Core Values (Focus on Customer Relationship, Embrace Change, Work as a Team, Be an Asset to Your Community, Always Learn, Do the Right Thing).EDUCATION & EXPERIENCE
      • 3-5 years of similar or related experience and/or training in executing quality control, quality assurance, or internal audit.
      • 3-5 years of experience in banking or other financial institutions.
      • SQL, Python, language abilities are a plus in MIS gathering and trend analysis.
      • Bachelor's Degree in Criminal Justice, Accounting, or another related field. A combination of education and experience will be considered.
      • Professional certification such as CIA (Certified Internal Auditor), CERP (Certified Enterprise Risk Professional) or CAMS (Certified Anti-Money Laundering Specialist) preferred.WORKING CONDITIONS/PHYSICAL DEMANDS
        • A combination of normal business office and remote working environment.Needham Bank offers a competitive salary and an amazing benefit package for a full-time employee which includes fully paid medical and dental insurance, HRA, 401(k) plan with an 8% bank match, paid time off (PTO), paid holidays, a bonus program, flexible spending accounts, vision service plan, group term life insurance, short and long term disability insurance, tuition reimbursement, and an Employee Assistance Program. We offer a great benefit package to our eligible part-time employees as well.At NB, we are dedicated to building a diverse, inclusive and authentic workplace - if you are excited about this role, but your past experience doesn't align perfectly with every qualification in the job description, we still encourage you to apply. You may be just the right candidate for this or other roles.Needham Bank is an Equal Opportunity/Affirmative Action Employer. Needham Bank will provide all applicants for employment and all employees with equal opportunity for employment and promotion regardless of race, color, religion, gender, national origin or ancestry, age, disability, veteran status, military service, sexual orientation, genetic information, or gender identity. 0 --> 0 --> Required
          Preferred

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Keywords: Needham Bank, Providence , BSA/Fraud Team Leader, Hospitality & Tourism , Wellesley, Rhode Island