BSA and Fraud Analyst

SmartBiz Loans - Chicago, IL

Full-time - Entry Level

Chicago, IL

Credit Intermediation and Related Activities

About the position

SmartBiz is on a mission to transform small business banking. SmartBiz is the leading technology-powered small business financing platform equipping entrepreneurs with access to the right capital at the right time. To date, we've connected borrowers with more than $9 billion in funding while increasing efficiency for our network of banks and trusted lending partners. More than 230,000 entrepreneurs have utilized our platform to access the funding they need to grow, with 60%+ of loans made to minority, women, or veteran-owned businesses. Position Overview: * Assist and support the CRO and management with the execution of the Bank's Bank Secrecy Act/Anti-Money Laundering Program and related procedures in accordance with Bank's policies, procedures, and applicable federal regulations. * Ensure daily data imports for BSA related operations between bank systems occurs successfully. Review and resolve any non-validated transactions or data transfers. * Perform various customer and transaction reviews, including 314(a), OFAC, and high risk transactions. * Prepare Currency Transaction Reports (CTR) and ensure the information in the monitoring system is ready for filing. * Obtain documentation and assist with Suspicious Activity Report (SAR) investigations and perform follow-up reviews as necessary. * Review CTR exemption customer reporting. * Investigate, research and analyze alerts/ cases involving suspicious activity and present them to the CRO for review. * Prepare Suspicious Activity Reports (SAR) and 90-day follow-up Suspicious Activity Reports to FinCEN through the Bank's monitoring system Abrigo BAM+ for the BSA Officer's review. * Review documentation for new business and consumer accounts and verify risk rating assigned to accounts per the Bank's risk rating criteria. * Monitoring all accounts that are rated as high risk in accordance with the established monitoring schedule. * Support the CRO in ad hoc fraud investigations. * Assist with examinations conducted by regulatory and audit. * Perform periodic reviews for high risk and medium risk customers. * Perform other duties or complete projects as assigned.

Responsibilities

• Assist and support the CRO and management with the execution of the Bank's Bank Secrecy Act/Anti-Money Laundering Program and related procedures.
• Ensure daily data imports for BSA related operations between bank systems occurs successfully.
• Perform various customer and transaction reviews, including 314(a), OFAC, and high risk transactions.
• Prepare Currency Transaction Reports (CTR) and ensure the information in the monitoring system is ready for filing.
• Obtain documentation and assist with Suspicious Activity Report (SAR) investigations and perform follow-up reviews as necessary.
• Review CTR exemption customer reporting.
• Investigate, research and analyze alerts/ cases involving suspicious activity and present them to the CRO for review.
• Prepare Suspicious Activity Reports (SAR) and 90-day follow-up Suspicious Activity Reports to FinCEN through the Bank's monitoring system Abrigo BAM+ for the BSA Officer's review.
• Review documentation for new business and consumer accounts and verify risk rating assigned to accounts per the Bank's risk rating criteria.
• Monitor all accounts that are rated as high risk in accordance with the established monitoring schedule.
• Support the CRO in ad hoc fraud investigations.
• Assist with examinations conducted by regulatory and audit.
• Perform periodic reviews for high risk and medium risk customers.
• Perform other duties or complete projects as assigned.

Requirements

• 2 years of related work experience in compliance, fraud, anti-money laundering and Bank Secrecy Act compliance in the financial services industry.
• Knowledge of Bank Secrecy Act regulatory requirements, including CTRs and SARs, and basic knowledge of banking regulations.
• Experience with banking systems and anti-money laundering monitoring tools, such as Abrigo BAM+ or other AML monitoring systems.
• Understanding of financial crime detection and prevention techniques.

Benefits

• Help redefine small business banking
• Competitive salary and equity in a fast-growing start-up
• 100% paid medical, dental, and vision benefits for employees and their domestic partners and dependents
• 100% paid life and disability insurance
• Flexible vacation policy
• 401k plan