BSA Analyst

Somerset Regal Bank•Livingston, NJ

1d•$60,000 - $70,000•Onsite

About The Position

This position provides support to the BSA Officer with monitoring, testing, and all aspects of the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) compliance. The role involves analyzing and reviewing generated alerts, preparing and submitting reports, reviewing customer accounts and documentation, and assisting with various compliance-related tasks.

Requirements

At least one year of US bank branch or banking operations experience.
Understanding of Bank Secrecy Act, US Patriot Act and related regulatory requirements related to Anti-Money Laundering and Know Your Customer legislation.
Valid CAMS certification is required to have and maintain; can obtain post-hire.

Nice To Haves

Familiarity with Fiserv-Cleartouch and FCRM softwares preferred.

Responsibilities

Provide support to the BSA Officer with monitoring, testing, and all aspects of the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) compliance.
Analyze, review and clear generated alerts using the automated Transaction Monitoring System and recommending when activity warrants the filing of a suspicious Activity Report (SAR).
Utilize various internal reports to detect and monitor suspicious activities.
Assist in the preparation and submission of all Currency Transaction Reports (CTR) and Suspicious Activity Reports (SAR) within required timeframes.
Review new customer accounts and verify KYC / CDD documentation.
Review and clear possible OFAC matches.
Report potential OFAC matches to the BSA Officer.
Assist Senior Management, attorneys and government agents with levies and subpoenas.
Assist in the development and modification of procedures for carrying out the requirements of the BSA Dept.
Conduct monthly EDD reports for High Risk and Moderate Risk customers.
Participates in 314a and 314b requests.
Maintain current knowledge of all position related procedures and compliance.
Perform additional duties as assigned by management necessary to maintain an efficiently run office, including cross-training in other Department or Bank functions.
Ability to work varied hours/days as business dictates.
May travel to Bank or other locations for job related functions.