BSA Senior Analyst

First Bank NJ•Hamilton, NJ

39d•$66,000•Onsite

About The Position

Our goal is to hire and retain talented people with engaging personalities and exceptional work ethics. We believe in recognizing and rewarding employees who consistently perform at a high level. We offer competitive salaries based upon experience and a comprehensive benefits package upon satisfying eligibility conditions, including health and dental insurance, life insurance, short term and long term disability, and the Bank's 401k Plan. Position Summary: The BSA Senior Analyst is responsible for supporting and ensuring First Bank's adherence to all Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) laws and regulations. This position involves independently conducting complex investigations, performing enhanced due diligence (EDD) reviews for high-risk clients, and preparing detailed Suspicious Activity Reports (SARs) for management review and filing. The BSA Senior Analyst acts as a subject matter expert for internal staff, contributing to a strong control environment and supporting the bank's efforts to mitigate financial crime risks.

Requirements

Strong analytical and organizational skills to define problems and propose solutions.
Proficiency in Microsoft Office Suite (Word, Excel, Outlook) and experience with BSA/AML monitoring systems/case management software.
Working knowledge of the Bank Secrecy Act, USA PATRIOT Act, OFAC regulations, Customer Due Diligence (CDD), and Know Your Customer (KYC) principles.
Effective oral and written communication skills.
Strong problem-solving, negotiation & follow-up skills.
Bachelor's degree is preferred, combined with 2-3 years related work experience.

Nice To Haves

ACAMS certification preferred.

Responsibilities

Assist in all aspects of monitoring activities relating to the Bank Secrecy Act, Anti- Money Laundering and OFAC compliance.
Conduct in-depth research and analysis of system-generated alerts and cases related to potential suspicious activity, including but not limited to wire and ACH transfers, cash structuring, and unusual transactional patterns.
Manage a caseload of potential suspicious activity from the BSA/AML monitoring system, documenting all research and analysis performed for future examinations.
Analyze transactional data to identify irregular activity, leveraging an understanding of historical client behavior and regulatory definitions of suspicious activity.
Assist in reviewing new accounts to ensure all information is in the system and accurate.
Prepare clear, concise, and well-written case narratives and initial Suspicious Activity Report (SAR) recommendations.
Conduct OFAC reviews, escalate potential matches, and maintain all necessary documentation.
Assess and recommend changes to customer risk ratings based on customer industry code, account activity and gathered information.
Correspond with business lines and branch personnel to clarify account activities, obtain supporting documentation, and provide guidance on due diligence requirements.
Utilize BSA software and other reports to detect suspicious activities.
Participate in projects and initiatives aimed at improving efficiency and strengthening control environments within the BSA department.