Fraud and/or BSA/AML experience including awareness and knowledge of fraud investigations, CIP, KYC, CDD/EDD, Customer Risk Rating, SAR investigations and filing
OFAC experience including awareness and knowledge of front-end and back-end screening, screening tools, alert clearing and disposition, and OFAC reporting
Knowledge and understanding of BSA/AML and OFAC regulations
Must possess ability to engage others and to work collaboratively with all departments across the organization
COMPETENCIES - SKILLS/KNOWLEDGE/ABILITIES:
Excellent analytical and problem-solving skills
Organized, process and detail oriented, and driven toward measurable result
Experience with Fraud investigations
Knowledge and understanding of laws and regulations relating to BSA/AML and OFAC
Experience with development of policies and procedures
Ability to take direction and then work independently on multiple issues concurrently, and to exercise independent judgment in establishing priorities
Ability to succeed in a fast pace, heavy workload, entrepreneurial environment
Ability to communicate complex concepts clearly
Excellent oral and written skills
Proficiency in Microsoft Office Suite of products
Comfort building and using AI tools to support fraud and financial crime investigations
**Pay Range for this role is - 70,000 -$85,000
Nelnet is committed to providing a welcoming and respectful workplace
Nelnet is a diversified and innovative company committed to enriching lives through the power of service as a student loan servicer, professional services company, consumer loan originator and servicer, payments processor, renewable energy solutions, and K-12 and higher education expert. For over 40 years, Nelnet has been serving its customers, associates, and communities.
The perks of working at Nelnet go beyond our benefits package. When you join the Nelnet team, you're part of a community invested in the success of each individual. That support comes through in our work, as we are united by our mission of creating opportunities for people where they live, learn, and work.
The Fraud/AML Analyst is a position responsible for the management and oversight of day-to-day Fraud prevention, Bank Secrecy Act ("BSA"), Anti-Money Laundering ("AML"), and Office of Foreign Asset Control ("OFAC") programs and functions for Nelnet Bank. The position reports directly to the Bank's Fraud Manager. Nelnet Bank is an online industrial loan charter bank focused on education financing that is regulated by the FDIC and Utah Department of Financial Institutions. JOB RESPONSIBILITIES:
1. Work closely with the Bank's Fraud Manager and BSA/AML Officer, as well as the Nelnet Inc. Financial Crimes Risk Management (FCRM) and Bank Technology teams, to ensure the BSA/AML and OFAC programs are well designed, prepared to scale for growth and are operating in compliance with applicable laws and regulations.
2. Monitor transaction activity across multiple channels to identify suspicious patterns, anomalies, and potential fraud or money laundering indicators in real time and through batch review.
3. Review and disposition system-generated alerts from fraud detection and AML transaction monitoring platforms, conducting thorough investigations to determine whether escalation is warranted.
4. Assist with screening activities, including OFAC and Information Sharing, to ensure screening occurs as intended, alerts are actioned and resolved appropriately, and documentation and reporting supports the screening processes.
5. Support Customer Due Diligence (CDD), Know Your Customer (KYC), and customer risk rating processes and related investigative activities and resulting documentation.
6. Perform Enhanced Due Diligence (EDD) on high-risk customers, accounts, and counterparties, including review of identification documents, source of funds, and business relationships.
7. Maintain working knowledge of applicable regulations including the Bank Secrecy Act, USA PATRIOT Act, OFAC requirements, and relevant state laws.
8. Prepare for and participate in regulatory and internal reviews and audits.
9. Assist with first-line Fraud, BSA/AML, and OFAC activities to identify trends and emerging fraud and money laundering typologies and communicate findings to management to inform control enhancements.
10. Other initiatives, special projects, and duties as assigned.
EDUCATION :
1. Bachelor's Degree preferably in related field and/or 2-3+ years related experience.
2. Nice to have - CAMS, CFCS, and/or CFE
Nelnet · Draper, UT