BSA/AML and Fraud Manager

BSA/AML And Fraud Manager

City First Bank N.A. is a mission-driven Community Development Financial Institution (CDFI) principally focused on a transformative impact in underserved, urban markets with the highest needs to drive equitable economic development. Our credit activities are purely commercial and focused on the following segments: Multifamily Affordable Housing, Not-for-Profit Finance, and Small Business Finance. As a depository and commercial lending provider with over $1.3 billion in bank assets as of December 31, 2025, our unified organization has over 100 employees in Washington DC and Los Angeles/Inglewood, CA.

Role Summary

The BSA/AML and Fraud Manager is responsible for the design, implementation, and oversight of the Bank's enterprise-wide BSA/AML/OFAC compliance program and Fraud Risk Management Program. This role serves as a strategic leader with accountability for ensuring regulatory compliance, mitigating financial crime risk, and building a scalable fraud framework aligned with the Bank's growth strategy.

In addition, appointed as the Bank's designated BSA Officer, this individual is responsible for maintaining compliance with all applicable laws and regulations, including the Bank Secrecy Act, USA PATRIOT Act, and OFAC requirements. In parallel, the role leads the development of a comprehensive fraud risk program spanning deposit and lending operations, including fraud detection, investigations, analytics, and loss mitigation.

This position acts as a key advisor to executive leadership and the Board, and serves as the primary liaison with regulators, auditors, and law enforcement.

Essential Functions and Responsibilities

BSA/AML/OFAC Program Oversight

• Develop, implement, and administer the Bank's BSA/AML/OFAC compliance program.
• Ensure timely and accurate filing of SARs, CTRs, and other regulatory reports.
• Oversee customer due diligence (CDD/EDD) and risk rating methodologies.
• Conduct enterprise BSA/AML risk assessments and report findings to senior leadership and the Board.
• Serve as primary liaison for regulatory examinations and audits.
• Maintain and update policies, procedures, and internal controls aligned with regulatory expectations.
• Monitor regulatory changes and emerging risks, recommending program enhancements.

Fraud Risk Management & Program Development

• Design and implement the Bank's enterprise fraud risk management framework.
• Provide second-line oversight of fraud risk across deposit and lending products.
• Identify and monitor fraud risks including check fraud, wire/ACH fraud, account takeover, identity theft, and lending-related fraud schemes.
• Conduct fraud risk assessments and control evaluations across business lines.
• Lead development of fraud policies, procedures, and controls.

Fraud Monitoring, Analytics & Systems

• Oversee fraud detection systems, including rule development, alert monitoring, and scenario tuning.
• Perform ongoing analysis of fraud trends, losses, and emerging threats.
• Conduct model validation, threshold calibration, and false-positive optimization.
• Partner with IT and vendors to enhance system capabilities and performance.

Investigations & Regulatory Reporting

• Oversee complex fraud and AML investigations, ensuring timely resolution and documentation.
• Ensure quality and consistency in SAR preparation and filing.
• Coordinate with law enforcement and regulators on fraud cases as required.
• Establish governance over investigations and case management processes.

Loss Mitigation & Reporting

• Monitor fraud losses, recovery efforts, and trends.
• Provide regular reporting to executive leadership and the Board on fraud and AML metrics.
• Identify root causes of losses and implement corrective actions.

Leadership & Stakeholder Engagement

• Serve as a trusted advisor to executive leadership on financial crime risk.
• Present program updates, risk assessments, and key metrics to the Board or Board committees.
• Collaborate cross-functionally with Compliance, Operations, Lending, and IT.
• Support training initiatives related to BSA/AML and fraud risk awareness.

Requirements

EDUCATION & EXPERIENCE

Required Education/Experience:

• Bachelor's degree in Criminal Justice, Finance, Business Administration, or a related field.
• 7+ years of experience in fraud investigations or related field, preferably within the banking, online banking, and/or financial services industry.
• Strong understanding of BSA/AML compliance.
• Preferred: CAMS (Certified Anti-Money Laundering Specialist), CFE (Certified Fraud Examiner) or similar

Knowledge, Skills & Abilities:

• Strong analytical skills with the ability to interpret complex data and identify anomalies.
• Knowledge of fraud schemes targeting community banks.
• Understanding of regulatory expectations for fraud risk management and model governance.
• Familiarity with fraud monitoring software and rule tuning.
• Strong analytical and investigative skills.
• Ability to provide effective challenge while maintaining collaborative relationships.
• Strong report writing and Board-level presentation skills.
• Detail-oriented with sound judgment and decision-making ability.