BSA Analyst at Somerset Savings Bank in Livingston, New Jersey

Job Description:

On-site at 66 West Mount Pleasant Avenue; Livingston, NJ 07039

Mondays – Wednesdays - 8:30 am – 4:30 pm (45 minute lunch)

Thursdays - 8:30 am - 5:00 pm (45 minute lunch)

Fridays - 8:30 am - 4:00 pm (30 minute lunch)

At least 1-2 years bank branch or banking operations experience, with an understanding of Bank Secrecy Act, the U.S. Patriot Act, and related regulatory requirements concerning Anti-Money Laundering and Know Your Customer legislation.

RESPONSIBILITIIES:

Other functions may be assigned to meet business needs.

• Support all aspects of Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) compliance.
• Support monitoring of accounts for indicators of unusual or suspicious activity, using automated Transaction Monitoring System.
• Support suspicious activity alert reviews and case investigations, recommending when activity warrants the filing of a suspicious Activity Report (SAR).
• Assist in the preparation and submission of all Currency Transaction Reports (CTR) within required timeframes.
• Review new customer accounts and verify their identities
• Support reviews of customer accounts to comply with due-diligence program requirements.
• Research, resolve, and conduct AML investigations on alerts within the system.
• Review and clear OFAC failed transactions concerning wire activity.
• Assist Senior Management, attorneys and government agents with interpretation and analysis of requested legal documents, governmental regulations, and professional publications.
• Assist in the development and modification of procedures for carrying out the requirements of the BSA.

BENEFITS:

Retirement plans

Health insurance

Paid days off

PRE-EMPLOYMENT SCREENING:

Credit check

Criminal check

Reference check

PI251757793