Senior Fraud Analyst

Description

The Senior Fraud Analyst supports the BSA Officer in the administration and execution of Centreville Bank’s enterprise-wide Fraud Program. Reporting directly to the BSA Officer, this role provides advanced fraud analysis, complex case investigation, and operational support to ensure effective fraud detection, prevention, and reporting activities.

The Senior Fraud Analyst assists the BSA Officer in implementing fraud-related policies, procedures, monitoring systems, and risk mitigation efforts. This position serves as an escalation point for complex investigations and works collaboratively with branch staff, operations, information security, BSA/AML personnel, and law enforcement. The Senior Fraud Analyst also mentors and provides subject‑matter guidance to the Fraud Analyst.

• Assist the BSA Officer in the administering of the Bank’s risk-based Fraud Program and Fraud Risk Assessment.
• Support the development and implementation of fraud‑related forms, notices, procedures, and monitoring processes as directed.
• Provide input and support in the review and update of fraud policies and procedures to reflect regulatory updates and operational improvements.
• Assist in monitoring the effectiveness of fraud controls and provide recommendations for enhancements as needed.

• Conduct and support timely, thorough investigation and disposition of fraud alerts generated by the Bank’s Fraud and Anti‑Money Laundering (FRAML) software.
• Investigate and document cases of elder financial exploitation, ensuring proper reporting in accordance with applicable state laws.
• Investig relied and document identity theft incidents as needed.
• Prepare investigative reports for law enforcement, including collection, preservation, and documentation of evidence.
• Compile necessary documentation to support Suspicious Activity Report (SAR) decisions, including filings or no‑filings; collaborate with internal business units and law enforcement as needed.
• Ensure accuracy and compliance in SAR preparation and submission, including:
• Reviewing and validating supporting documentation;
• Drafting clear, comprehensive narratives;
• Completing and submitting SARs in Verafin for review by the BSA Officer or designee.

• Research and analyze fraud trends, industry benchmarks, and regulatory changes to support proactive identification of emerging fraud risks.
• Submit quarterly fraud and identity theft metrics to the BSA Officer for reporting to the Enterprise Risk Management Committee.
• Identify upstream fraud risks and provide recommendations to enhance fraud prevention.
• Contribute to the Bank’s enterprise risk and fraud mitigation strategies through reporting and participation in internal committees or working groups as directed.

• Maintain current knowledge of banking laws and regulations related to fraud.
• Support the BSA Officer in ensuring Bank policies, procedures, and systems remain compliant and updated as needed.
• Provide recommendations and assistance in implementing procedural improvements to strengthen internal controls.

• Mentor, coach, and support the development of the Fraud Analyst.
• Design and deliver fraud awareness and educational programs to Bank personnel to promote prevention and compliance.
• Keep staff informed about fraud trends, regulatory updates, and investigative best practices.

• Support the BSA Officer and senior management with special projects related to fraud and compliance.
• Collaborate with departments including BSA/AML, Compliance, Risk, and Information Security to strengthen the Bank’s overall control environment.
• Perform other duties as assigned in support of the Bank’s fraud risk management goals.

• Naturally curious problem solver with a strong investigative mindset
• Bachelor’s degree or its equivalent combination of education and at least five (5) years of specialized course work, training, or relevant experience.
• Experience in fraud investigations, bank security, bank loss preventions,…