Fraud Analyst

Summary

NewtekOne is a financial holding company that provides banking and business solutions to small- and medium-sized businesses through its Newtek brand. Newtek Bank, N.A. is seeking a Fraud Analyst to support the Compliance Department's financial crimes program by monitoring transactions, investigating suspected fraud, preparing regulatory reports, and helping improve fraud prevention controls.

Responsibilities

• Monitor and analyze banking transactions for signs of suspicious or fraudulent activity
• Use advanced fraud detection tools and software to identify potential fraud patterns
• Develop and implement strategies to prevent fraud, including rule modifications and new procedures
• Conduct thorough investigations of suspected fraudulent activities
• Gather and analyze data from various sources to build cases and support findings
• Prepare detailed suspicious activity reports (SARs) on investigative findings and recommend actions to mitigate risks
• Work closely with internal teams such as IT, compliance, legal, and operations to address and resolve fraud incidents
• Report findings and trends to senior management and suggest improvements to fraud prevention strategies
• Participate in regular meetings to review fraud metrics and discuss ongoing cases
• Stay updated on the latest fraud trends, techniques, and regulatory requirements
• Assist in training bank staff on fraud awareness and prevention techniques
• Ensure all fraud detection and investigation activities comply with regulatory requirements and internal policies
• Maintain accurate and up-to-date records of all fraud-related activities and investigations

Skills

• 3+ years of financial crimes experience at a financial institution or as a consultant or regulator
• Bachelor's Degree required (may consider commensurate work experience)
• Working knowledge of bank operations, policies, and procedures, with ability to research, analyze and recommend policy and procedural enhancements
• Working knowledge of fraud and financial crimes banking laws, regulations, operations and procedures
• Strong analytical capability and the ability to identify potential concerns, recommend operational improvements to management and initiate action
• Excellent communication (verbal and written), organizational, and follow-up skills
• Must exhibit the ability to work both independently and in a team oriented environment
• The ability to negotiate and collaborate with others, initiate action, adapt to change and accept challenging assignments is essential
• Proficiency in Microsoft Office suite software, including but not limited to Excel, Word, PowerPoint, and Outlook, as well as Teams
• Professional designation as a Certified Fraud Examiner (CFE) or Certified AML and Fraud Professional (CAFP)
• Knowledge of Alloy solutions, Velocity FinCrime Software and other fraud monitoring tools

Qualifications

Must Haves

• 3+ years of financial crimes experience at a financial institution or as a consultant or regulator
• Bachelor's Degree required (may consider commensurate work experience)
• Working knowledge of bank operations, policies, and procedures, with ability to research, analyze and recommend policy and procedural enhancements
• Working knowledge of fraud and financial crimes banking laws, regulations, operations and procedures
• Strong analytical capability and the ability to identify potential concerns, recommend operational improvements to management and initiate action
• Excellent communication (verbal and written), organizational, and follow-up skills
• Must exhibit the ability to work both independently and in a team oriented environment
• The ability to negotiate and collaborate with others, initiate action, adapt to change and accept challenging assignments is essential
• Proficiency in Microsoft Office suite software, including but not limited to Excel, Word, PowerPoint, and Outlook, as well as Teams

Nice to Haves

• Professional designation as a Certified Fraud Examiner (CFE) or Certified AML and Fraud Professional (CAFP)
• Knowledge of Alloy solutions, Velocity FinCrime Software and other fraud monitoring tools