Fraud Analyst II

About Us

Alerus is a commercial wealth bank and national retirement provider with one core purpose: helping clients achieve their financial goals. We are driven by a shared commitment to always do the right thing; leading with integrity and providing valued advice and guidance to our clients. We value the expertise and skillsets each team member provides and encourage collaboration, innovation, adaptability, and an entrepreneurial spirit at all levels of our company. By consistently seeking improvements and growth, we foster long-term relationships with clients and team members. We are proud to be recognized as a Top Workplace by numerous industry and regional outlets.

Core Values

• Passion for Excellence
• Success is Never Final
• Do the Right Thing
• One Alerus

About the Role

The Fraud Analyst II is a valued part of a cohesive team focused on protecting the assets of the bank and its customers. The role involves reviewing transactions for possible fraud and suspicious activity, investigating cases of fraud by interviewing victims and suspects, obtaining and reviewing evidence, and determining facts. You will prepare case summaries, make recommendations on the disposition of cases, and prepare Suspicious Activity Reports (SARs) as required. This position requires the ability to work with processes based on varying and unique results and circumstances, exercising sound judgment and maintaining the highest degree of confidentiality.

Responsibilities

• Identify and investigate various types of fraud (e.g., check, deposit, ACH, wire, new account, online account takeover, debit card, P2P) and interview involved parties.
• Escalate recommendations for account actions to senior staff and keep detailed investigation records.
• Handle callbacks regarding ACH and wire alerts.
• Work with internal/external departments, law enforcement, and customers.
• Identify activities requiring Suspicious Activity Reports (SAR) and assist in their completion.
• Develop relationships with internal clients and recommend fraud prevention improvements.
• Communicate fraud patterns to management.
• Provide primary and backup coverage for fraud and maintain written procedures.
• Provide one-on-one training for specialized processes and participate in team meetings.
• Attend mandatory training, stay updated on systems, and pursue ongoing education.
• Maintain knowledge of compliance regulations.

Requirements

• Associate degree or equivalent combination of education and/or 2-5 years of related financial industry experience.
• 2-3 years of previous Fraud or BSA/AML experience.
• Previous banking or financial services experience.
• Investigative and research skills using various systems.
• Attention to detail and excellent analytical skills to identify suspicious and/or fraudulent activity.

Benefits

• Competitive compensation including base salary, bonus, and/or incentive opportunities.
• Comprehensive benefits package providing a wide range of health and well-being benefits, including medical, dental, vision, life, and long-term disability insurance.
• 401(k) and ESOP for retirement savings.
• Generous paid time off programs such as flexible time off, company-paid holidays, parental and bereavement leave.
• Learning and development resources for personal and professional career development, and advancement opportunities.
• Access to financial experts for guidance, financial wellness tools, and discounts on Alerus products and services.
• Support for the communities we live in through paid volunteer time and a company donation match opportunity.

Work Environment

Work is typically performed in an office setting. The employee is regularly required to sit for extended periods of time and occasionally move about the office utilizing proper ergonomic safeguards. The employee must occasionally lift or move supplies and materials up to 20 pounds.

Pay

Base pay range: $22 - $30 per hour based on experience.