Grand Bank - BSA/AML & Fraud Officer

BSA/AML & Fraud Officer
Job Summary:

The BSA/AML & Fraud Officer serves as Grand Bank for Savings, FSB’s aka Grand.bank (the Bank)
subject matter expert responsible for the design, implementation, and oversight of the Bank’s BSA/AML, OFAC, USA PATRIOT Act, and fraud prevention programs across deposit, digital, and credit card products. This role ensures compliance with applicable laws and regulations, including CIP, KYC, Identity Theft Prevention, Privacy, Red Flags, and fraud mitigation requirements, and supports strategies, policies, and procedures to manage financial crime risk across all delivery channels.

The BSA/AML & Fraud Officer oversees monitoring systems, vendor relationships, regulatory reporting, risk assessments, training, and Board reporting, and serves on the Management Compliance Committee. The position reports to the Chief Compliance Officer and regularly supports executive leadership.
Essential Duties and Responsibilities:
The essential functions include, but are not limited to the following:
• Develop, implement, and maintain an effective BSA/AML, Fraud, OFAC, and USA PATRIOT Act compliance program.
• Administer and enhance transaction monitoring and fraud detection systems.
• Provide ongoing oversight of third-party vendors, including card processors and fraud platforms, through performance monitoring, control validation, and review of service level agreements.
• Review and investigate alerts and activity related to customer accounts, wires, ACH, cash transactions, and other high-risk activity.
• Detect, investigate, and respond to fraud events, including account takeover and financial crimes.
• Ensure effective controls are in place to detect and mitigate ACH-related fraud, including account takeover, unauthorized debits, and credit push scams.
• Oversee credit card program fraud risk, including monitoring of card-not-present (CNP) fraud, authorization controls, MCC risk, disputes, and fraud loss trends.
• Establish and monitor fraud thresholds, key risk indicators, and escalation protocols for the credit card program.
• Oversee ACH risk management, including compliance with NACHA rules, monitoring of unauthorized return rates, and reporting/escalation of threshold breaches.
• Manage chargeback review and escalation in coordination with operations, processors, and vendors.
• Provide governance and oversight of card processors, issuing platforms, and fraud tools; ensure alignment with Regulation E, Regulation Z, and card network rules.
• Conduct customer due diligence (CDD) and enhanced due diligence (EDD) for higher-risk customers.
• Prepare, file, and maintain Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) in accordance with regulatory requirements.
• Perform compliance testing and monitoring of BSA/AML, Fraud, and OFAC programs, including third-party vendors.
• Provide oversight of dispute resolution and error resolution processes to ensure compliance with Regulation E and Regulation Z, including periodic monitoring and testing.
• Oversee the effectiveness of real-time fraud detection and authorization controls, including rule logic, velocity parameters, and vendor decisioning tools.
• Conduct enterprise-wide BSA/AML, Fraud, and OFAC risk assessments at least annually, incorporating deposit, digital, and credit card products, transaction flows, and fraud exposure, including ACH activity, NACHA-related risks, and credit card program exposures.
• Serve as the primary liaison for regulatory examinations and audits; manage corrective actions and remediation.
• Coordinate with law enforcement and external agencies as required.
• Develop and deliver BSA/AML and fraud training for employees and the Board; provide regular reporting on compliance and fraud trends, including credit card losses and disputes.
• Provide reporting to executive management and the Board on ACH risk metrics, credit card fraud performance, losses, and emerging trends.
• Stay current on regulatory developments and industry best practices.
• Perform other duties as assigned.
Minimum Qualifications (Knowledge, Skills, and Abilities):
• Bachelor’s degree or equivalent.
• Five (5)+ years of experience in BSA/AML, Fraud, and OFAC compliance; credit card program experience preferred.
• Experience with card issuing platforms, payment networks, and transaction-level fraud monitoring.
• Advanced knowledge of BSA/AML, OFAC, USA PATRIOT Act, KYC/CIP, and FFIEC/FinCEN guidance.
• CAMS, CFE, or other relevant AML/fraud certification.
• Strong analytical, organizational, and communication skills.
• Proven ability to manage sensitive information with discretion and integrity.
• Ability to operate effectively in a fast-paced, growing organization.
• Proficiency with Microsoft Office and AML/fraud platforms (e.g., LexisNexis, Fiserv, or similar systems).
Physical Demands and Work Environment: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the functions.
While performing the duties of this position, the employee is regularly required to speak or hear. The employee frequently is required to use hands or fingers, handle or feel objects, tools, or controls. The employee is occasionally required to stand, walk, sit, and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this position include close vision, distance vision, and the ability to adjust focus. The noise level in the
work environment is usually low to moderate.
Note: This job description in no way states or implies that these are the only duties to be performed by the employee(s) incumbent in this position. Employees will be required to follow any other job-related instructions and to perform any other job-related duties requested by any person authorized to give instructions or assignments. All duties and responsibilities are
essential functions and requirements and are subject to possible modification to reasonably accommodate individuals with disabilities. To perform this job successfully, the incumbents will possess the skills, aptitudes, and abilities to perform each duty proficiently. Some requirements may exclude individuals who pose a direct threat or significant risk to the health or
safety of themselves or others. The requirements listed in this document are the minimum levels of knowledge, skills, or abilities. This document does not create an employment contract, implied or otherwise, other than an “at will” relationship.
Grand Bank offers a competitive salary along with the following benefits:
• 401(k) and Profit Sharing
• Health Insurance
• Dental Coverage Plan
• Vision Coverage Plan
• Disability Insurance
• Life Insurance
• Flexible Schedule
• Paid Time Off (PTO)
• Tuition Reimbursement
• Community Service PTO match (Bank approved)

Job Type: Full-time
Location: Hattiesburg, MS or Wilmington, DE

Pay: Commensurate with education and experience. Salary plus eligibility for leadership bonus.

About Grand Bank for Savings, FSB: Grand Bank is exploding with growth and on the fast track to becoming a leader in providing affordable, innovative financial products to our customers throughout the U.S. Our mission is to deliver cost effective financial tools to give our customers better ways to borrow, spend, and save. We thrive on creating solutions to help our customers live healthier financial lives and improve their relationship with money. From saving for retirement to buying their first home, whatever stage of life they are in, we are with them every step of the way.

Chartered in 1968, Grand Bank has a rich history of thinking out of the box to offer unique products to meet the needs of our customers. We value our team members and all they bring to the table. If you’re passionate about delivering customerfocused solutions with a digital edge to help others build solid financial health, you want to work for us. You’ll discover a
career full of excitement, challenge, purpose, and opportunity at Grand Bank. We are proud to be an equal opportunity workplace dedicated to pursuing and hiring a diverse, talented, and engaged team.
We offer competitive salaries, advancement opportunities, and a comprehensive benefits package. Join our team today!

Grand Bank is an affirmative action and equal opportunity employer, as well as an Equal Housing Lender, and Member FDIC.