Senior Fraud Risk Analyst Jobs in Minnesota (NOW HIRING)

Park State Bank Virginia, Minnesota, United States

Description:

Park State Bank’s Core values are GROWTH, TEAMWORK, RESPONSIVE, TRANSPARENT, And INNOVATIVE. We endeavor to live by these values in all that we do!

The mission of Park State Bank is to deliver exceptional client service, strategic banking solutions and a community-friendly experience.

The Senior High-Risk BSA Analyst serves as the day-to-day operational resource and subject matter expert for the Bank's cannabis banking program and other designated high-risk customer relationships. This position is responsible for conducting complex investigations, enhanced due diligence reviews, SAR and CTR activities, and ongoing risk assessments while identifying emerging risks, regulatory changes, and industry trends. Working closely with the Cannabis Business Team, the role supports the onboarding, due diligence, and ongoing monitoring of cannabis-related businesses. The position provides guidance to BSA Analysts, and acts as the operational owner of the Bank's cannabis monitoring program, escalating significant risks, suspicious activity, regulatory concerns, and policy matters to the BSA Officer for oversight and decision-making.

• Serve as the primary BSA/AML subject matter expert for the Bank's cannabis banking program and designated high-risk customer segments.
• Conduct complex transaction monitoring investigations and reviews of unusual or suspicious activity involving cannabis-related businesses, and other high-risk relationships.
• Perform enhanced due diligence (EDD), periodic reviews, and ongoing risk assessments for high-risk customer relationships to ensure compliance with regulatory requirements and Bank policy.
• Prepare, investigate, and file Suspicious Activity Reports (SARs), ensuring timely, accurate, and well-supported regulatory reporting.
• Review Currency Transaction Reports (CTRs) for accuracy, completeness, and compliance with applicable regulatory requirements.
• Work closely with the Cannabis Business Team to support customer onboarding, due diligence, license monitoring, ownership reviews, and ongoing relationship management.
• Identify emerging cannabis industry risks, financial crime trends, and regulatory developments, and recommend enhancements to monitoring, controls, and due diligence procedures.
• Provide guidance, support, and secondary reviews under dual-control processes to promote consistency and quality within the BSA Department.
• Assist with development of the BSA/AML Risk Assessment, high-risk customer risk assessments, Board reporting, and management reporting related to cannabis and other high-risk business lines.
• Support regulatory examinations, independent testing, and audits by maintaining thorough documentation, responding to information requests, and assisting with corrective action initiatives.

• Provide support to the BSA Officer during regulatory examinations, independent testing, and other relevant engagements.
• Assists with other BSA, AML, CFT, Compliance, and risk management functions as needed.
• Perform other duties and special projects as assigned.

• Conducting AML-CFT investigations, transaction monitoring reviews, and suspicious activity investigations
• Preparing Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs),
• Performing Enhanced Due Diligence reviews for higher risk clients.
• Experience working with high-risk clients' segments such as Cannabis Related Business, money service business, or similar client types.
• Experience reviewing state cannabis license, ownership structures, regulatory compliance and operational activity for consistency with CDD.
• Knowledge of state cannabis regulatory requirements, licensing structures, and industry specific risks.
• Experience with AML Automated Monitoring Systems preferred.

Work is performed largely within the bank with limited chance for personal injury. Prolonged and frequent mental and visual concentration required. Periodic stressful situations in response to multiple priorities within established deadlines. Work hours are generally during normal business hours. Unscheduled evening and weekend work may be needed to meet the needs of customers and employees. Occasional travel between offices and out-of-town/overnight business travel required. Must be able to lift and move up to 20 pounds of office supplies and equipment. Some bending, turning, and twisting required. Serves as a representative of the bank at appropriate functions.

We are always on the lookout for talented people to help us become the best. Take a look at the available office locations below.

NEMN MARKET: Hibbing, Chisholm, Cook, Mt. Iron, Grand Rapids, & Biwabik

DULUTH/NORTH SHORE MARKET: Duluth, Hermantown, Two Harbors

MINNEAPOLIS MARKET: Minneapolis

This position description describes the general nature and level of work performed by the employee assigned to this position and should not be interpreted as all inclusive. It does not state or imply that these are the only duties and responsibilities assigned to the position. The employee may be required to perform other job-related duties. All requirements are subject to change and to possible modification to reasonably accommodate individuals with a disability.

This position description does not constitute an employment agreement between the bank and employee and is subject to change by the employer as the needs of the bank and requirements of the position change.

• Associate degree in business, finance, criminal justice, compliance, or related field; or equivalent certification in AML-CFT, banking, compliance, or financial crime.
• Minimum of two years of experience in AML-CFT
• Demonstrated knowledge of Bank Secrecy Act, Anti-Money Laundering (AML), OFAC, Customer Due Diligence (CDD) and suspicious activity monitoring requirements.