The BSA/AML Compliance Analyst is responsible for performing a variety of fraud detection related activities in support of Customer Identification Program (CIP), Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations designed to prevent financial-related crimes.
- 2-3 Yrs. BSA/AML Compliance experience.
- Knowledge of products, services, procedures, policies including regulatory and audit requirements.
- General investigative and business sense in order to analyze complex banking transactions and identify activity that is contrary to the stated purpose of an entity or unusual for a particular individual.
- Excellent attention to detail and accuracy.
- Ability to build relationships using teamwork, problem identification and problem solution skills.
- Excellent project and time management skills. Strong leadership, communication and analytical skills.
- Proficient in use of Microsoft suite products.
Duties and Responsibilities include:
- Conduct analysis on transactional data to make determinations of irregular activity through understanding of industry norms, historical customer activity and regulatory definitions of suspicious activity.
- Conduct investigations by utilizing the bank’s resources, i.e., system software, reports, databases, and system applications to determine if suspect account activity meets the established criteria for investigation of suspicious activity as described in BSA and Anti-money Laundering procedures.
- Examine reports to determine if situations meet the established criteria for investigating suspected fraudulent or problem accounts.
- Collect, analyze and disseminate sensitive information concerning the suspicious activities of groups, businesses and individuals as described in Associated Secrecy Act and Anti-money Laundering procedures.
- Document all findings in a centralized case management system and report to management.
- Assist in preparing a suspicious activity report and understanding the SAR filing requirements.
- Upon request, provide assistance to the Compliance and BSA Officer with the coordination of all internal and external examinations of department activities, including independent testing and external examinations.
- Other duties as assigned.
Equal opportunity employer of qualified protected veterans and individuals with disabilities, minorities and females.
About this company
We are a community-based, full-service commercial bank that emphasizes the banking needs of small to medium-sized businesses, professional entities, governmental agencies and individuals. We opened in January 2006 under the name Northern State Bank. We offer a broad range of consumer and commercial banking services to our customers. We offer high-quality service by providing more direct, personal attention than we believe is offered by competing financial institutions, most of which are branch offices of banks headquartered outside our primary trade area. We believe that this combination of quick, responsive and personal service, combined with state-of-the-art banking technology, provides our customers with a superior banking experience. We urge potential investors to read our 2015 Annual Report, and subsequent Shareholder Letters, for a review of our operations, by selecting the investor relations tab on this website.
On July 22, 2010, we entered into a Recapitalization Agreement with Messrs. Abraham Opatut and C. Herbert Schneider, as lead investors of an investor group (the “Investor Group”), under which Messrs. Abraham Opatut and Schneider agreed to assist us in recapitalizing the Bank (the “Recapitalization”). The Recapitalization was consummated on December 14, 2010, and we raised approximately $18.3 million in additional capital. As part of the Recapitalization, we also relocated our headquarters to 105 River Avenue in Lakewood, while maintaining our original branch in Closter, New Jersey. We now serve Ocean, Monmouth, and Mercer Counties in New Jersey, as well as our original target market of Bergen County, New Jersey. We also restructured our Board of Directors, adding 11 new Board Members, while maintaining four members of the Bank’s original Board. Finally, Mr. Abraham Opatut became Chairman of our Board, and Mr. C. Herbert Schneider became our President and CEO as part of the Recapitalization.