Transaction Monitoring and Fraud Escalations Manager

Job Details

Job Location

Headquarters - NEW YORK, NY

Position Type

Full Time

Education Level

4 Year Degree

Job Category

Finance

Description

JOB SUMMARY:

We are seeking an experienced and detail-oriented Transaction Monitoring and Fraud Escalations Manager to join our Financial Crimes Compliance team. The successful candidate will be responsible for overseeing the transaction monitoring process, managing fraud escalations, and ensuring compliance with relevant regulations and internal policies.

Responsibilities:

• Manage the day-to-day operations of the transaction monitoring team, ensuring accurate and timely review of suspicious activity alerts.
• Develop, implement, and maintain transaction monitoring strategies, rules, and scenarios to detect potential money laundering, terrorist financing, and other financial crimes.
• Oversee the fraud escalation process, ensuring proper investigation and resolution of fraud cases.
• Collaborate with internal stakeholders, such as Fraud, Risk, and Operations, to continuously improve the effectiveness of the transaction monitoring and fraud escalation processes.
• Ensure compliance with relevant regulations, such as the Bank Secrecy Act (BSA), USA PATRIOT Act, and other anti-money laundering (AML) and counter-terrorist financing (CTF) laws and regulations.
• Manage, mentor, and develop a team of analysts, providing guidance and training to enhance their skills and knowledge.
• Prepare and present regular reports and KPIs on transaction monitoring and fraud escalation activities to senior management and regulatory authorities.
• Stay abreast of industry trends, emerging risks, and regulatory changes, and adapt the bank's monitoring and escalation processes accordingly.
• Develop and maintain comprehensive procedures and desktop procedures for transaction monitoring and fraud escalation processes, ensuring consistency and adherence to best practices.
• Regularly review and assess the performance of transaction monitoring rules and the team, identifying areas for improvement and implementing necessary changes.
• Establish and track key performance indicators (KPIs) for the transaction monitoring and fraud escalation processes, and provide regular reports on team and individual performance.
• Continuously enhance the efficiency and effectiveness of the transaction monitoring and fraud escalation processes through process optimization, automation, and the adoption of new technologies and tools.
  
  

Qualifications

Knowledge, Skills, and Abilities:

• In-depth knowledge of BSA, AML, and CTF regulations and industry best practices.
• Strong analytical and problem-solving skills, with the ability to identify and mitigate financial crime risks.
• Excellent communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams.
• Proficiency in data analysis tools and techniques, such as SQL and data visualization.
• Experience in developing and implementing procedures and desktop procedures.
• Proven track record of driving process improvements and enhancing team performance.
  
  

Education, Training, and Experience:

• Bachelor's degree in Finance, Accounting, Business Administration, or a related field. Advanced degree is a plus.
• Minimum of 7 years of experience in transaction monitoring, fraud investigations, or AML/CTF compliance in the banking industry.
• Proven experience managing and leading a team of analysts.
• Certification in AML, fraud investigation, or financial crime prevention (e.g., CAMS, CFE) is preferred.
  
  

Salary : $140,000 - $160,000 annual salary

Base salary range does not include performance-based bonus and/or other benefits, where applicable. Actual base salary offer will vary based on skills and experience.

About Community Federal Savings Bank (CFSB)

Community Federal Savings Bank (CFSB) is a federally chartered bank founded in 2001 and headquartered in New York City. CFSB has focused on providing superior service and added value to clients though a solid understanding of relationship banking. We offer a full range of services, including loans, bill payments, card services, internet banking, and merchant processing.

We are an equal opportunity employer and do not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, disability, military and/or veteran status, or any other Federal or State legally-protected classes.