BSA Investigator

Who We Are First Fed is a local community bank on an exciting growth trajectory with 15 locations including 11 full-service branches in Western Washington. First Fed was recognized by the Puget Sound Business Journal as a Best Workplace and a Top Corporate Philanthropist. By popular vote, First Fed received awards for Best Bank in The Best of the Northwest , Best Banker in Readers’ Choice by Cascadia Daily News, and Peninsula Daily News named us B est Bank on the Olympic Peninsula . We also received a Best-In-State bank award from Forbes. For over 100 years First Fed has served our customers and communities throughout the PNW. We’ve donated over $9 million to non-profit organizations in the past 8 years through our foundations, sponsorships, direct donations, and matched employee donations. Our amazing team has volunteered over 25,000 hours in the past 5 years – many by using our benefit of 3 paid volunteer days per year! We welcome applicants from all backgrounds – our diversity makes us stronger. Join our award-winning team! Our Values Optimism : We are positive and decisive. We believe the future will be better than the past. Our attitude demonstrates persistence which leads to success. Initiative : We are self-starters and find innovative solutions. We are courageous, entrepreneurial, and passionate. We take action for good. Respect : We include individuals from diverse backgrounds and with different perspectives. We are committed to honoring and serving others. Growth : We learn and adapt so we can continually improve. We believe in personal growth through grit and determination. Ownership : We are invested in our endeavors. We are accountable and take responsibility for our actions and decisions. Position Purpose The BSA Investigator is responsible for conducting investigations involving potential money laundering, terrorist financing, fraud, elder financial exploitation, human trafficking, sanctions evasion, and other suspicious or criminal activity. This position serves as the primary investigator for Bank Secrecy Act (BSA) cases requiring formal investigation, including Suspicious Activity Report (SAR) filings and continuing activity SAR reviews. The BSA Investigator performs detailed analysis of customer activity, account relationships, and transaction patterns to identify financial crime risk, determine appropriate regulatory reporting requirements, and document investigative findings. The role also conducts Enhanced Due Diligence (EDD) reviews, supports the Bank's high-risk customer program, and serves as a subject matter resource to BSA Specialists and other business units. Essential Functions Serve as the primary investigator for BSA cases escalated from monitoring systems, staff referrals, customer due diligence reviews, law enforcement inquiries, and other internal or external sources. Analyze customer relationships, transaction activity, account behavior, and supporting documentation to identify suspicious activity and assess financial crime risk. Determine whether suspicious activity warrants regulatory reporting and prepare Suspicious Activity Reports (SARs) in accordance with regulatory requirements. Conduct continuing activity reviews and prepare SAR refiles within required regulatory timeframes. Prepare detailed investigative summaries, case findings, and recommendations that are clear, accurate, and well supported. Present cases and investigative findings to management, SAR Committee, auditors, examiners, or other stakeholders as required. Conduct Enhanced Due Diligence (EDD) reviews for high-risk customers and other complex customer relationships requiring additional analysis. Identify suspicious activity trends, emerging financial crime typologies, monitoring gaps, and opportunities to improve detection and investigative processes. Assist management with regulatory examinations, independent audits, law enforcement requests, and internal reviews. Maintain complete, accurate, and well-documented case files in accordance with regulatory requirements, internal procedures, and record retention standards. Secondary and Back-up Responsibilities Assist with fraud investigations, fraud alerts, fraud operational activities, account reviews, account restrictions, and other fraud prevention activities as assigned. Conduct fraud investigations and prepare fraud-related SAR filings as assigned. Provide guidance and support to BSA Specialists regarding alert reviews, referrals, case escalation decisions, investigative documentation, and customer risk assessment. Assist with development and maintenance of policies, procedures, workflows, and investigation standards. Participate in monitoring rule reviews, alert effectiveness assessments, and recommendations for program enhancements. Assist with department training initiatives and cross-training efforts. Serve as backup support for BSA and fraud functions as needed. Qualifications & Requirements Minimum 4 years of financial institution experience in BSA/AML, investigations, fraud, compliance, auditing, law enforcement, or related field, preferably in a financial institution or similarly regulated environment Experience conducting investigations involving suspicious activity. Has experience working in BSA, AML, OFAC, and in completing Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), suspicious activity monitoring, and related regulatory requirements Strong analytical, investigative, and problem-solving skills with the ability to evaluate complex customer relationships and financial activity. Experience reviewing complex customer account relationships and transaction activity. Strong writing skills with ability to prepare detailed investigative summaries and SAR narratives. Preferred- CAMS certification. Verafin experience. SAR preparation experience. Experience performing EDD reviews. Experience supporting regulatory examinations or independent audits. Knowledge of fraud investigations including account takeover, elder exploitation, check fraud, synthetic identity fraud, and other financial crimes. Physical Requirements The work requires the ability to operate office machines and equipment, such as personal computers, printers, copying machines and telephones. The work requires the ability to communicate clearly with customers, coworkers, and others in person and on telephones. Work activities involve combinations of sitting/standing for extended periods. Pay Range The pay range for this position is $26.45 - $44.96 The typical hiring range for this position is $26.45 - $30.35 The incentive plan for this position is the Partnership Incentive plan. It is paid out quarterly with a 5% target payout. Employees will be eligible for our benefits package including medical, dental, and vision insurance, paid time off, retirement plans (401k with company match and Employee Stock Ownership Plan), gym membership reimbursement, discounts on our banking products, and more! Additional information on our benefits package can be viewed at https://www.ourfirstfed.com/careers As a c ommunity Bank, we know the power in bringing people together from all walks of life. Our communities are beautiful and strong because of their diversity, and it’s important to us that all of our locations reflect the unique diversity of the places we live and work. We are passionate about hiring the very best talent and welcome applicants from all backgrounds. Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran First Fed invites all qualified interested applicants to apply for our career opportunities. If you are a person with a disability and need a reasonable accommodation to use our online job search or application tools, please email Human Resources via [email protected] or call 360-460-2605. Note: This contact information is reserved solely for job seekers requesting accessibility assistance or accommodation in the application process. Messages left for other purposes may not receive a response. We are required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor, and the Employee Polygraph Protection Act .