BSA Officer, VP

Blue Foundry Bank - Parsippany, NJ

Full-time - Senior

Parsippany, NJ

Management of Companies and Enterprises

About the position

The BSA Officer is responsible for ensuring the Bank's compliance with all relevant Bank Secrecy Act (BSA) laws, rules, and regulations. Key responsibilities include monitoring and coordinating the Bank's BSA compliance program and documenting adherence to regulatory requirements. This includes the timely filing of all required BSA reports and notices, such as Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs). Additionally, in this role you will be tasked with maintaining and updating the Bank's policies and procedures to ensure compliance with the BSA, Customer Identification Program (CIP), Office of Foreign Assets Control (OFAC) requirements, and Regulation GG, which pertains to unlawful Internet gambling enforcement. Finally, the BSA Officer also ensures that all staff are adequately trained on BSA-related policies and serves as the primary point of contact with regulatory agencies regarding BSA compliance.

Responsibilities

• Monitor and coordinate the Bank's BSA compliance program.
• Document adherence to regulatory requirements.
• Timely filing of all required BSA reports and notices, including SARs and CTRs.
• Maintain and update the Bank's policies and procedures for BSA compliance.
• Ensure compliance with the Customer Identification Program (CIP) and OFAC requirements.
• Train staff on BSA-related policies.
• Serve as the primary point of contact with regulatory agencies regarding BSA compliance.

Requirements

• Bachelor's degree required or ten (10) years' commensurate work experience.
• Minimum ten (10) years' relevant experience in the financial services industry in BSA/AML.
• Extensive understanding of all BSA/AML and OFAC laws, regulations, and guidance.
• Verafin software experience required.
• Proficient in BSA/AML Software and Microsoft Office Suite (Word, Excel, Outlook).
• Ability to understand, interpret, convey, and implement the requirements of pertinent laws and regulations.
• Strong leadership skills with the ability to supervise and provide direction to staff.
• Ability to work independently and in a team-oriented environment.
• Strong analytical capability to identify potential concerns and recommend operational improvements.
• Excellent communication (verbal and written), organizational, and follow-up skills.