Fraud Operations Analyst

POSITION: Fraud Operations Analyst

Summary:

At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being. We are committed to exceeding expectations and having a strong commitment to diversity and inclusion. The Fraud Operations Analyst is responsible for supporting operational fraud functions involved in identifying and escalating financial crimes, suspicious activity and misconduct. This role involves maintaining advanced subject knowledge and analytics experience for the Bank and its customers on a team that works to pre-emptively identify fraud, develop monitoring strategies, and ensure compliance with regulatory requirements. The Fraud Operations Analyst must have excellent communication, prioritization, and diplomacy skills to successfully meet our mission and the strategic priorities of CSB.

Key Result Areas:

• Proactively review fraud alerts and escalate investigations sourced from monitoring software, customer reporting, internal escalation, and external contact into financial crimes, including large scale frauds, suspicious activity and misconduct.
• Act as primary source for suspicious activity identification, escalation path, and investigation follow up assistance within team, other business lines, and customers providing regular guidance and support.
• Exhibit strong investigative, analytical, and writing skills, demonstrated by the ability to articulate thought process, conduct independent research, and present findings upon transactional activity reviews and trends, during Department meetings, and during quality control assessments. Exercise judgment within defined procedures and practices to determine appropriate action for resolution of the above.
• Attend fraud seminars, training, and conduct independent research and reading, as part of the continuous learning required to stay informed of current regulatory and legislative trends/areas of focus, as it applies to job responsibilities.
• Build and/or review all department procedures, as well as maintain team SharePoint site(s) for update to date information.
• Frequently partner with the BSA team through the intake of referrals and support requests.
• Liaise with peers, management, and external contacts including law enforcement agencies as needed.
• Stay updated on relevant laws, regulations, industry trends, new investigative practices related to financial crimes.
• Assist in project work including system demonstrations, rollout testing, and process review recommendations.
• Work closely with senior members of the team to assist with customer risk reviews, investigations, cross functional initiatives, managing internal relationships, system enhancements, quality assurance audits, process improvement reviews, training events, and preparation for audits or senior management reports. Perform additional duties as required.
• Perform additional duties as required.

Qualifications:

• Bachelor's degree preferred.
• 3 years in banking; 1 year of experience specifically dedicated to financial crime related activities or related field preferred.
• Advanced working knowledge of fraud regulations to ensure proper adherence to investigative standards, compliance obligations, and regulatory requirements.
• Innovative mindset with a proactive approach to problem solving.
• Demonstrated experience working independently and collaboratively on a fraud team and across all other business lines.
• Strong written and verbal communication skills and adept experience successfully interacting with customers, internal teams, and external contacts including law enforcement.
• Experience in investigative tactics, fraud analysis, claims, and recovery process.
• Experience with gathering, handling, maintaining, and reporting confidential information and evidence.
• Demonstrated understanding of the importance of maintaining confidentiality of suspect/account investigation.
• Deep understanding of digital banking, biometric based monitoring, logic analysis configuration, and of all money movement methods.
• Ability to exercise good judgment to make timely decisions, while working in a fast-paced and results-driven environment.
• Proficiency in Microsoft Office products - Word, Excel, Outlook, PowerPoint, & SharePoint for compiling written reports and spreadsheets on an investigation.
• Positive attitude, enthusiasm, professionalism, and strong work ethic with a high level of integrity and ethics and ability to adhere to the Bank's Core Values.

The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities the inclusion of which would be in conformity with the major purpose of this job.

Location:

Hybrid/Waltham, Massachusetts

About Cambridge Savings Bank:

Cambridge Savings Bank is a full-service banking institution with $7 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. In March 2023, Kroll Bond Rating Agency affirmed CSB's investment-grade rating, reinforcing the bank's position as a reliable business lender. To learn more about how CSB can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370

Cambridge Savings Bank is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We are a VEVRAA Federal Contractor.

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