BSA/AML Analyst

Century Savings Bank • Vineland, NJ

4h

About The Position

Under the general supervision of the Assistant Manager of BSA, the BSA/AML analyst is responsible for ensuring the bank complies with all relevant regulations aimed at preventing illegal activities such as money laundering and terrorism financing. The analyst will conduct ongoing due diligence, review customer due diligence documentation, prepare suspicious activity reports, participate in BSA/AML projects, and assist with internal audits. The ideal candidate will have excellent analytical and communication skills, and a thorough understanding of BSA/AML regulations. This position requires the ability to work both independently and as part of a team, and the willingness to stay current with industry trends and developments. See attached job description for additional details.

Requirements

• Excellent analytical and communication skills
• Thorough understanding of BSA/AML regulations
• Ability to work both independently and as part of a team
• Willingness to stay current with industry trends and developments

Responsibilities

• Review customer due diligence for new commercial customers and risk rate per the Bank's risk rating criteria.
• Perform reviews of customer due diligence and declared activity levels in comparison to actual activity levels.
• Perform annual reviews on the Bank's High Risk customers to determine ongoing risk of the relationship.
• Write, file, and perform follow-up review of Suspicious Activity Reports.
• Review CTRs for accuracy and completeness before submission to FinCEN.
• Perform annual reviews on the Bank's CTR exempt customers to determine continued eligibility.
• Independently investigate alerts (AML, Fraud, OFAC, etc.) generated by the Bank's monitoring system and/or by incident referrals from other departments and determine if activity is reasonable or potentially suspicious.
• Document the research performed in a clear and concise manner and elevate activity that may warrant a SAR filing.
• Escalate all activity identified as potentially suspicious to the BSA Officer for a SAR filing determination.
• Perform FinCEN 314(a) database scrubs and resolve related alerts
• Analyze various reports and data such as the wire logs, currency and IAT reports for suspicious activity, transaction patterns, high risk countries, etc. and perform appropriate investigations.
• Assist all business units with BSA/AML/OFAC-related issues.
• Assist with preparing for initiatives related to audits, exams, and other projects.
• Assist in responding to findings and recommendations from the various initiatives and implementation of Program enhancements, new procedures, etc.
• Maintaining awareness of regulatory updates through appropriate training and incorporate process and procedural changes into the case review processes as directed by management.
• Perform self-guided training with other business units on BSA/AML/OFAC topics as needed.
• Perform other Bank-related training as directed.
• Perform other related duties as assigned.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: No Education Listed