Senior Fraud Investigator

POSITION: Senior Fraud Investigator

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. Our team mission at Cambridge Savings Bank is to protect the Bank, its customers, and their assets against financial crimes. This team focuses on the identification, prevention, analysis, and reporting of fraud events across the Bank. Additionally, this team has responsibility to enhance internal (CSB) and external (customer) education on fraud risks and mitigation best practices. The Senior Fraud Investigator is an experienced professional responsible for managing complex investigations into financial crimes, suspicious activity and misconduct. This role involves being a leader and subject matter expert for the Bank and its customers on a team that works to pre-emptively identify fraud, develop investigative strategies, and ensure compliance with regulatory requirements. The Senior Investigator 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 lead complex investigations sourced from monitoring software, customer reporting, internal escalation, and external contact into financial crimes, including large scale frauds, suspicious activity and misconduct. Refer investigations to other Fraud Investigators, as necessary.
• Act as subject matter expert and mentor to Fraud Management team, other business lines, and customers providing regular guidance and support.
• Perform an independent assessment of the risk represented by the customer and/or the activity in which the customer has engaged.
• Determine the best investigative approach for each unique case, ensuring that key questions are addressed, and that department policies and regulatory expectations are satisfied.
• Exercise critical thinking and informed decision-making skills to efficiently and effectively determine whether further investigative and analytical activity is recommended.
• Recommend investigative strategies, methodologies, or control adjustments based on alert/case trending for additional opportunity to mitigate fraud risks.
• Frequently partner with the BSA team through the intake of referrals and support requests.
• Liaise with management, senior leaders, and external contacts including law enforcement agencies.
• Stay updated on relevant laws, regulations, industry trends, new investigative practices related to financial crimes.
• Acts as team lead back up in the absence of the Fraud Director.
• Act as the primary support for project work including system demonstrations, rollout testing, and process review recommendations.
• Perform additional duties as required.

Qualifications:

• Bachelors degree or 5 years of banking or financial crime investigations experience.
• 5+ years of experience in financial crime investigations or related field such as law enforcement.
• CFE or equivalent accreditation (CPA, CAMS, CFE, CFF, CAFP).
• Knowledge of the laws applicable to money laundering, including the Bank Secrecy Act (BSA), The USA Patriot Act, OFAC, FinCEN requirements to ensure proper adherence to investigative standards, compliance obligations, and regulatory requirements.
• Strong investigative, research and analytical skills, including the ability to define patterns, collect data, establish facts, and draw valid conclusions. Experience working with law enforcement and regulators a plus.
• 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.
• Expertise 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