Financial Crimes Associate

About the role

This role involves administering the Bank Secrecy Act and Fraud Program, with a primary focus on transaction monitoring and managing fraud incidents. The associate will support Figure's obligations related to federal laws and regulations concerning suspicious activity, including money laundering and fraudulent loans. This includes evaluating customer transactions for evidence of fraud using both manual and automated processes.

A key part of the position is monitoring operational tasks to identify fraud, minimizing losses through direct action, and escalating incidents to management when necessary. The associate will implement mitigation strategies that balance customer satisfaction with effective fraud prevention. This requires a thorough understanding of state and federal laws related to bank secrecy and anti-money laundering.

Success in this role means ensuring compliance with regulations such as the Customer Identification Program (CIP), Customer Due Diligence (CDD), and Office of Foreign Asset Control (OFAC). The associate will assist in managing and mitigating alerts from transaction monitoring, and ensure that suspicious activity reports (SARs) and elder abuse reports are filed within federal timeframes. The ability to communicate effectively and prepare clear documents is essential.

The base salary for this position ranges from $59,196 to $88,795 annually, with an additional 25% annual bonus target and company equity.

Skills that matter here

• anti-money laundering: This role requires experience in anti-money laundering to administer the Bank Secrecy Act and monitor suspicious activities.
• fraud: The associate will focus on fraud detection, mitigation, and incident resolution across various financial products.
• compliance: Experience in compliance is necessary to ensure adherence to federal laws and regulations related to financial crimes.
• problem-solving: Strong problem-solving skills are needed to identify fraud, analyze situations, and implement effective mitigation strategies.
• analysis skills: The role requires analysis skills to evaluate customer transactions and applications for signs of fraudulent or illicit activity.
• organizational and time management skills: These skills are important for monitoring assigned tasks, escalating incidents, and maintaining compliance within federal timeframes.

Who this role suits

• Someone with at least one year of experience in financial crime prevention within a financial institution or law enforcement.
• A person who is comfortable making important decisions quickly and can balance customer satisfaction with fraud prevention.
• An individual who possesses strong analytical abilities, effective judgment, and clear communication skills, both written and oral.
• A candidate with an interest in fraud and BSA/AML compliance, who is willing to work occasional non-standard hours if business needs require it.

From the employer

What You’ll Do

• Assist in the administration of the Bank Secrecy Act and Fraud Program, with primary emphasis on transaction monitoring, fraud incidents and supporting Figure’s obligations related federal law and regulations associated with the reporting of suspicious activity or criminal activity including money laundering, potential terrorist financing, fraudulently obtained loans, and other activities related to banking and lending.
• Monitor assigned operational tasks and identify fraud. Minimize loss by taking action, and escalating incidents to management as appropriate. Deploy mitigation strategies as directed that balance customer satisfaction with fraud prevention.
• Maintain a thorough understanding of state and federal laws and regulations related to bank secrecy and anti-money laundering appropriate to the position.
• Evaluate customer transactions and applications using manual and automated processes for evidence of Fraud and BSA targeted acts.
• Escalate incidents and cases to ensure SARs and Elder Abuse Financial Abuse reports are reported within federal timeframes. Maintain compliance with the Customer Identification Program (CIP), Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), Office of Foreign Asset Control (OFAC) and Elder / Dependent Abuse regulations.
• Assist in transaction monitoring and the administration and mitigation of alerts.

What We Look For

• 1+ years of experience related to anti-money laundering, fraud, or compliance in a financial institution or relevant law enforcement experience.
• Comfortable making impactful decisions in a fast paced environment.
• Strong problem-solving and analysis skills, combined with effective judgment and excellent oral and written communication skills.
• General knowledge of Fraud and / or AML operations, policies and procedures.
• Enthusiasm and interest in Fraud and BSA/AML compliance and related services.
• Ability and willingness to communicate effectively in providing Fraud and BSA/AML guidance and expertise to other staff, and to prepare clear and concise written documents.
• Strong organizational and time management skills.
• CAMS, CFE or compliance certifications favorably considered. This role may require work on weekends or unusual hours that could extend into late evenings or early mornings (depending on business need).

Salary

• Base Compensation Range: $28.46 - $42.69 hourly
• 25% annual bonus target, paid quarterly
• Company equity in the form of RSUs

Benefits

• Comprehensive medical, dental, and vision coverage, with 100% employer-paid premiums for employees and their dependents on select plans
• Company HSA, FSA, Dependent Care FSA, 401(k), and commuter benefits
• Employer-paid life and disability insurance
• 11 observed holidays and PTO plan
• Up to 12 weeks of paid family leave
• Continuing education reimbursement