Fraud Analyst I

at Bangor Savings Bank in Bangor, Maine, United States

Job Description

FUNCTION: Responsible for performing analysis and reporting of data produced/provided by bank systems and personnel in support of the Bank’s FRAML program. The FRAML program is responsible for variety of functions in support of Risk Management’s mission to identify, monitor, investigate & report suspicious activity relating to fraud, money laundering, identity theft, or other suspected violations of law and Bank policies.


+ Conducts near real-time analysis of the FRAML application’s Remote Banking Fraud (ACH/Wire/Online Account Takeover) and Debit Card Fraud Alerts.

+ Conducts timely analysis of the FRAML application’s AML alerts.

+ Maintains the Bank’s debit card Transaction Authorization Block rules and exceptions

+ Provides supporting information (suspicious activity related to OLB and Debit Card Fraud) to CCC personnel for proactive customer notification.

+ Maintains comprehensive case files and ensures appropriate documentation is retained in the FRAML system and supporting documentation/evidence is retained in accordance with applicable laws and regulations.

+ Tunes/Adjusts parameters within Verafin to account for changes in customer behavior.

+ Ensures the FRAML system’s customer risk module is performing optimally.

+ Reviews and investigates incidents of potential fraud and/or theft, money laundering, or other potential criminal activity and files appropriate reports if necessary.

+ Interacts with Bank customers, employees and various law enforcement agencies regarding the investigation of suspicious activity and/or potential fraudulent transactions such as debit card fraud, counterfeit check deposits, embezzlement, e-commerce fraud (online banking, wire, ACH), kiting, etc.

+ Assists Law Enforcement Officers with investigations involving the Bank and/or its employees; assists with court procedures, including providing comprehensive and timely information as requested

+ Conducts timely analysis of internal reports and/or referrals used to identify incidents of fraud, suspicious activity, identity theft, compliance violations, money laundering or policy violations.

+ Takes appropriate investigatory and protective actions to mitigate financial loss, reputation, transactional, legal, security, and compliance risk. Conducts follow up actions with appropriate departments and/or Risk Management to minimize future occurrences of suspicious activity.

+ Assists in ensuring the Bank is in compliance with local, state and federal regulations, including the Bank Secrecy & USA Patriot Acts, Reg-E, FACTA, by performing duties designed to validate compliance with Bank policies and procedures. .

+ Monitors the accuracy and effectiveness of various exception and risk threshold reporting as assigned.

+ Recommends changes/enhancements to FRAML policies to ensure effectiveness.

Compliance and Control:

+ Assists in ensuring that the Bank is in compliance with local, state and federal regulations


+ Interacts harmoniously and effectively with others, focusing upon the attainment of bank goals and objectives through a commitment to teamwork.

+ Conforms to acceptable punctuality/attendance standards as expressed in the Employee Handbook.

+ Performs additional duties as requested.


+ Adaptability/Flexibility – Adapts to change, is open to new ideas, takes on new challenges, handles pressure, adjusts plans to meet changing needs

+ Initiative – Takes independent action, operates as a pro-active self starter, acts on opportunities, practices self development

+ Integrity/Ethics – Deals with others in a straightforward, honest manner, is accountable for actions, maintains confidentiality, supports company values, conveys news good or bad

+ Feedback – Comfortable proving feedback to all levels of Management on various Risk Management topics

+ Vision/Values – Supports company mission/values through daily actions and decisions, communicates the Bank’s vision, mission and values to others, incorporates vision when planning

Knowledge/Skills/Experience Requirements:

+ High school diploma or equivalent required

+ College degree, related business/professional and/or banking experience preferred.

+ Compliance, Fraud, Criminal-Investigatory, or Law enforcement experience highly preferred.

+ High degree of analytical skills and the ability to handle complex problems in a fast paced environment

+ Ability to work with little supervision.

+ Organized, sets priorities & meets deadlines.

+ Strong communication skills, verbal and written required.

Physical Demands/Conditions Requirements:

+ General office environment.

+ Moderate lifting (to 35 lbs.) required. Moderate reaching, walking, sitting and standing required.

Equipment Used:

+ General office equipment.

External and internal applications, as well as position incumbents who become disabled, must be able to perform the essential functions (as listed) either unaided or with the assistance of a reasonable accommodation to be determined by management on an individual basis.

At Bangor Savings, we understand the importance of continuing to nurture an internal culture of excellence for each of our employees. We offer internal and external training to assist our employees in realizing their career aspirations including internships, lateral training, management training, and tuition reimbursement.

We also offer a unique set of benefits designed to support our employees in living their best life and achieving their goals. Our holistic health and wellness programs allows each employee to customize their approach to well-being. And our pay, rewards, recognition, and incentive programs ensure that they are well-compensated for a job well-done.

At Bangor Savings Bank, the work our employees do each and every day allows us to deliver on our promise to make a difference in the lives of people in New England in a way that really matters.

Bangor Savings Bank provides equal employment opportunities to all applicants and employees without regard to race, color, religion, gender, sexual orientation, age, national origin or any other class protected under state or federal law and affirmatively seeks to advance the principals of equal employment opportunity. In addition, the Bank is committed to providing equal employment opportunities to qualified persons with disability, veterans, and/or disabled veterans. No question on this application is intended to secure information to be used for such discrimination, this application will be given every consideration, but its receipt does not imply that the applicant will be employed. This application will remain active for a period of 90 days. If, after such time, you still wish to be considered for employment, you must reapply. Bangor Savings Bank does provide workers compensation coverage for employees injured on the job. It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

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Job Posting: JC198790770

Posted On: Dec 02, 2021

Updated On: Jan 09, 2022