Validation Specialist

Come Grow with Us and Join an Award-Winning Organization! Stearns Bank is looking for a Validation Specialist. This is a remote-eligible position headquartered out of St. Cloud, Minnesota. 

JOB SUMMARY

Researches and analyzes specific transactions across all payment channels to validate details provided by existing and potential borrower, dealer, and broker sources. Interacts with internal customers, direct Manager, and BSA/AML to recommend and perform appropriate actions required to mitigate losses and to provide a positive customer experience. Authorizes transactions to move forward when able to confirm validation details or elevates to a Fraud Investigator when unable to confirm validation details.   

Starting annual salary of $50,000.00. Employment offers will be dependent upon the selected candidate’s relevant qualifications and experience.

RESPONSIBILITIES   

• Accurately research and analyze potential LexisNexis Bridger Office of Foreign Asset Control (OFAC), DocuSign, and Customer Identification Program (CIP) fails within the allotted time frame across all payment channels in a fast-paced environment; elevating potential fails with indications of possible fraud to a Fraud Investigator.   
• Vet requests from Dealers and Equipment Finance Brokers who want to do business with Stearns Bank Equipment Finance Division (EFD), abiding by Dealer Vetting Procedures as outlined by Stearns Management, elevating potential Dealers and Equipment Finance Brokers indicating potential fraud to a Fraud Investigator.   
• Order, follow up on, and review results of various inspections ordered by EFD; elevating  
   inspections indicating potential fraud to a Fraud Investigator.    
• Identify control issues/policy violations and propose actions to mitigate reoccurrence.  
• Maintain and update case management system for tracking of validation cases and relevant information.  
• Simultaneously manage multiple open cases.   
• Assist Fraud Investigators with initial investigation as requested.  

• Assist with additional assignments as requested.

• Comply with all applicable Federal regulations in decision process.  
• Provide exceptional service to internal customers.   

REQUIREMENTS

• Occasionally lift and/or move up to 10 lbs.    
• Literacy in English.
• Ability to sit for extended periods of time, twist, bend, sit, walk use hands to twist, handle or feel objects, tools, or controls, such as computer mouse, computer keyboard, calculator, stapler, telephone, staple puller, etc., reach with hands and arms, balance, stoop, kneel, talk, or hear.   
• Specific vision abilities required by the job include close vision, distance vision, peripheral vision, depth perception and the ability to adjust focus.  

• Maintain working knowledge of office tools (copier, mail machine, etc.) needed to support office staff.                     

QUALIFICATIONS   

• Bachelor’s degree in a Business-related field preferred; not required depending upon experience.  
• Minimum 3 years financial services experience preferred, plus a basic understanding of fraud detection and prevention.  
• Ability to multi-task as required.  
• Ability to work independently on special projects.  
• Demonstrates aptitude to utilize computer systems, adhere to bank policies and procedures, and ensure compliance with applicable bank regulations.   
• Good communication skills.  
• Proficient grammar and writing skills.  
• High level of professionalism and confidentiality.  
• Works well in a team environment.  

THE COMPANY

Founded in 1912, Stearns Financial Services Inc. (SFSI) is a $2.4 billion well-capitalized, independent financial holding company based in St. Cloud, Minnesota. Specializing in nationwide small business lending and equipment financing, Stearns has maintained outstanding customer service, fast decisions, and customized finance solutions to their customers for decades.

Stearns Bank has earned itself a stellar reputation amongst customers and competitors alike. This reputation goes beyond just word-of-mouth, as Stearns has been recognized by the Independent Community Banker’s Association (ICBA) as a top-performing bank in the nation based on a 3-year average Return on Assets for banks $1 billion or more. Stearns has also been recognized by American Banker as a top-performing bank in the nation over a 3-year period for Return on Equity for banks from $2 billion to $10 billion.

As a Star Tribune Top Workplaces award recipient and an award recipient of the Minnesota Business Magazine 100 Best Places to Work in Minnesota, Stearns takes pride in their team and holds their employees in extremely high regard. We offer a competitive salary and benefit package including our Employee Stock Ownership Program-one of the best long-term incentive programs in the nation.

EQUAL OPPORTUNITY EMPLOYER /AFFIRMATIVE ACTION PLAN

We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, or creed, religion, sex, marital status, familial status, sexual orientation, national origin, age, disability, veteran’s status, status with regard to public assistance, or any other class protected by Federal, State, local laws governing nondiscrimination in employment.