Description
WHO WE ARE
City First Bank N.A. is a mission-driven Community Development Financial Institution (CDFI) principally focused on a transformative impact in underserved, urban markets with the highest needs to drive equitable economic development. Our credit activities are purely commercial and focused on the following segments: Multifamily Affordable Housing, Not-for-Profit Finance, and Small Business Finance. As a depository and commercial lending provider with over $1.3 billion in bank assets as of December 31, 2024, our unified organization has over 100 employees in Washington DC and Los Angeles/Inglewood, CA.
Role Summary
The Fraud Analyst is responsible for preventing, detecting, investigating, monitoring, and reporting fraud risk across both deposit and lending operations while maintaining independence from frontline operations.
The position provides oversight of fraud controls, performs investigations, calibrates fraud detection systems, conducts risk assessments, and prepares executive and Board-level reporting. The role collaborates closely with branch staff, deposit operations, lending, credit, IT, BSA/AML, and risk management to reduce fraud losses, enhance controls, and ensure regulatory compliance.
Essential Functions And Responsibilities
Deposit Fraud Oversight
- Monitor and investigate check fraud (altered, forged, counterfeit), ACH and wire fraud, debit card fraud, account takeover, mobile deposit fraud, and identity theft.
- Review high-risk transactions and exception reports.
- Conduct root cause analysis on fraud losses and identify control weaknesses.
- Provide independent challenge to first-line fraud decisions when appropriate.
Lending Fraud Oversight
- Review loan files for identity misrepresentation, synthetic identities, income falsification, collateral misrepresentation, and early payment default indicators.
- Perform post-funding fraud reviews.
- Conduct targeted portfolio reviews when fraud risk indicators increase.
- Monitor early payment default trends and emerging lending fraud risks.
Fraud Software Administration & Calibration
- Serve as subject matter expert for the bank’s fraud monitoring platforms.
- Monitor and analyze alerts generated by fraud detection systems to identify trends and patterns.
- Perform alert threshold tuning, rule calibration, false-positive analysis, and scenario effectiveness testing.
- Conduct periodic model validations.
- Recommend new fraud detection scenarios based on emerging threats.
- Partner with IT and vendors to optimize system performance.
- Maintain documentation supporting regulatory expectations for model governance.
Investigations & Regulatory Reporting
- Conduct and oversee complex fraud investigations, including transaction analysis, account reviews, and interviews as necessary.
- Ensure complete and well-documented case files.
- Prepare and/or assist with preparation of accurate and timely Suspicious Activity Reports (SARs).
- Perform SAR quality control reviews and track regulatory filing deadlines.
- Coordinate with law enforcement and regulatory agencies when appropriate.
Fraud Loss Mitigation & Recovery
- Monitor fraud loss trends and recovery efforts.
- Review account closures and charge-offs related to fraud.
Risk Assessment & Control Evaluation
- Conduct periodic Fraud Risk Assessments covering deposit and lending operations.
- Evaluate the adequacy of deposit controls, lending controls, identity verification procedures, and dual control processes.
- Perform site surveys and recommend control and security enhancements.
- Identify control gaps and track remediation efforts.
- Assist in development and enhancement of fraud-related policies and procedures.
Requirements
EDUCATION & EXPERIENCE
Required Education/Experience:
- Bachelor’s degree in Criminal Justice, Finance, Business Administration, or a related field.
- 3+ years of experience in fraud investigations or related field, preferably within the banking, online banking, and /or financial services industry.
- Strong understanding of BSA/AML compliance.
Knowledge, Skills & Abilities:
- Strong analytical skills with the ability to interpret complex data and identify anomalies.
- Knowledge of fraud schemes targeting community banks.
- Understanding of regulatory expectations for fraud risk management and model governance.
- Familiarity with fraud monitoring software and rule tuning.
- Strong analytical and investigative skills.
- Ability to provide effective challenge while maintaining collaborative relationships.
- Strong report writing and Board-level presentation skills.
- Detail-oriented with sound judgment and decision-making ability.
Salary Description
$90,000 - $100,000, annually
