Job Description

Job Description

Job Description

Description:

Community. Security. Trust. This is the foundation on which Bluestone Bank is built. We've helped Southern New England prosper for over 150 years by providing responsible, relevant, and secure financial solutions. Whether our customer’s unique needs include finding a safe place to grow their savings, financing their next home, protecting their future, or building their business, we are here to help them reach their goals. Let’s get there, together!

In addition to being a great place to bank, Bluestone Bank is a great place to work! Named by the Boston Business Journal as a Best Places to Work in 2025, you are joining a team that cares about your career success and will also receive:

• A competitive salary with performance-based incentives.
• Comprehensive medical with deductible reimbursement, dental, and vision coverage.
• An employer matching 401k plan.
• Training and professional development opportunities, including tuition reimbursement.
• Work life balance with paid time off, paid volunteer hours, and 11 paid holidays.

The BSA and Fraud Analyst assists in the implementation and administration of all aspects of the Bank Secrecy Act compliance program of the Bank, under the guidance of the VP BSA and Risk Officer. This position performs various quality control reviews and monitoring pertaining to the Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering Program, OFAC, and Customer Identification Program compliance using industry standards and regulatory guidance to ensure the Bank’s compliance efforts are maintained on a daily basis.

Essential Functions

Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.

• Ensures compliance with the Bank Secrecy Act/Anti-Money Laundering/OFAC BSA/AML/OFAC) and related laws and regulations.
• Analyzes transactions and reviews account cases across all business lines for potential Bank Secrecy Act/Anti Money Laundering and fraud red flags.
• Prepares and maintains documents and BSA/AML and fraud reports for management.
• Maintains current knowledge of BSA/AML/OFAC and fraud regulations, guidelines, best practices, and trends.
• Prepares and files Currency Transaction Reports (CTRs) and monitors cash sales of monetary instrument reports.
• Investigates potential fraud and suspicious activity, recommends disposition, and prepares SAR reports for filing with regulatory agencies.
• Assists in the monitoring of money service businesses and other types of high-risk businesses and performs appropriate due diligence before new accounts are opened.
• Assists with all OFAC and bi-weekly FinCEN 314(a) searches and any other government lists that may be issued.
• Assists with investigations and maintains support documentation for SAR case management.
• Ensures the integrity of the Bank’s anti-money laundering system (data, agents, etc.) for all fraud agents and cases, and that written procedures are an accurate reflection of the Bank’s processes.
• Reviews fraud-related guidance and recommends changes to risk assessments, policies and/or procedures as necessary.
• Assists with the review and updating of the fraud risk assessment.
• Determines appropriate actions to be taken to control potential losses and maintains compliance with regulatory reporting requirements.
• Conducts timely and thorough high-risk customer reviews and assists in the maintenance of the customer due diligence process in accordance with risk.
• Provides input and feedback on current and potential fraud risks and recommends mitigating controls.
• Assists in the tracking and resolution of fraud cases, including recovering funds, filing police reports as appropriate and going to court when requested.
• Additional duties as assigned.

Physical Demands and Work Environment

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit and talk or hear, reach with hands and arms; and stoop, kneel, or crouch. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision, and the ability to adjust focus.

An Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.

• College degree preferred, or equivalent combination of education and relevant banking experience.
• At least three years of general banking or regulatory agency experience, with experience in fraud monitoring and case resolution and Bank Secrecy Act compliance.
• Experience dispositioning fraud cases, including working with police departments, attending court appearances, recovering monies owed.
• Experience analyzing reports and monitoring activity to identify and resolve fraud.
• Verafin experience preferred.
• Strong knowledge of bank operations.
• ACAMS and Fraud certifications preferred, or the willingness and ability to obtain them.
• Comprehensive understanding of Bank Secrecy Act compliance regulations and laws.
• Ability to proactively identify and assess potential concerns and risks.
• Ability to resolve issues, work independently, and meet deadlines.
• Basic knowledge of Bank administration, lending and operations products and services; related state and federal laws and regulations and other Bank operational policies and procedures.
• Effective verbal, written, and interpersonal communication skills with the ability to instruct others, train personnel, write reports, correspondence and procedures, and speak clearly to customers and employees.
• Proficient in MS Word and knowledge of Excel.

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