Job Information
OceanFirst Bank BSA FCC Analyst (Hybrid) in Toms River, New Jersey
Position : BSA FCC Analyst (Hybrid)
Location : Toms River, NJ
Requisition ID: : 4106
At OceanFirst Bank, each one of our employees plays an important role in fulfilling the mission and taking responsibility to execute daily tasks in alignment with our core values. Together we foster an environment of respect, professionalism and diversity that makes OceanFirst a great place to work and do business.
Great benefits include: on-site fitness facility at Red Bank and Toms River headquarter offices, hybrid schedule after initial onboarding has been completed (3 days in office, 2 days remote), employee perks & discount programs, tuition assistance, incentive compensation program, professional development opportunities, and more! Apply today to #BecomeOceanFirst and make an impact in the local community!
PRIMARY PURPOSE:
The BSA Financial Crime Compliance Analyst assists the Bank Secrecy Act (BSA) Department in all requirements necessary to achieve and maintain a satisfactory level of BSA compliance as it relates to Currency Transaction Reporting/Designation of Exempt Person and suspicious activity reporting through system alert monitoring, exercising judgment, and decision/resolution following Federal and state banking laws. Additionally, has knowledge of Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) requirements to fulfill the position responsibilities.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Ensures compliance with legal/regulatory requirements and adherence to the Bank's BSA/AML/OFAC Policy including the Bank Secrecy Act and Currency Transaction Reporting.
Conducts investigations of potentially suspicious BSA and Fraud activity related to alerts and assigned cases from the Bank's Transaction Monitoring System or reported by Security Department, Bank employees, Bank customers or Law Enforcement authorities. Suggests appropriate actions for resolution.
Conducts analysis on transactional data to make determinations of irregular activity through understanding of industry norms, historical customer activity and regulatory definitions of suspicious activity.
Performs review of the customers' activity and conducts investigations based on 314a and 314b information sharing requests.
Exercises sound judgment while examining, identifying, and documenting suspicious account activity, behaviors, and patterns.
Prepares Suspicious Activity Reports (SARs) on all identified suspicious activity and advises BSA Management as appropriate.
Communicates with OceanFirst Bank's retail banking and back-office personnel to resolve issues as appropriate.
Remains current on regulations pertaining to Bank Secrecy Act and Anti-Money Laundering to help ensure Bank's compliance.
Processes OFAC Updates and FinCEN Requests against customer database and analyzes potential matches to determine validity. Conducts Q&A of the branch personnel OFAC onboarding process.
Monitors Returned Deposited Items (RDI) for potential suspicious and fraudulent activity.
Performs Remote Deposit Capture (RDC) Risk Assessment and Monetary Instrument (MI) review for potential money laundering patterns, and reviews OFAC and PEP alerts on various Bank's systems.
Investigates potential suspicious cash transactions, utilizing previous experience and training, exhibit independent judgement to determine the appropriate course of action for suspicious activity to be escalated for further analysis.
Monitors the activity of CTR exempt customers on an annual basis to recertify CTR exemption eligibility.
Acts as a procedural resource for the various business lines and staff on matters pertaining to BSA/AML and Fraud.
Performs daily review of CTRs and potential CTRs generated by the Transaction Monitoring System -- including quality control to ensure accurate and timely filing of CTRs.
Assists Management in procedural process and recommends enhancements or modifications to the Department procedures and automated BSA/AML and Fraud systems.
Engages in additional assignments as directed by Management.
JOB SPECIFICATIONS:
Knowledge, Skills & Abilities
Working knowledge of the Bank Secrecy Act (BSA) and related regulations related to Currency Transaction Reporting, Designation of Exempt Person reporting requirements, Suspicious Activity Reporting, and OFAC.
Ability to exercise good judgement and problem-solving to investigate analysis and recommend resolution related to suspicious or fraudulent activity.
Strong transactional research, analytical,skills, and attention to detail, to document, and present findings clearly and accurately.
Solid interpersonal skills to interact in a pleasant, cooperative, and timely manner with internal and external personnel, at all levels, to obtain and give information.
Strong organizational skills, initiative, and proven ability to prioritize and multi-task.
Ability to work in fast-paced environment and meet established deadlines.
Excellent written and verbal communication skills.
Computer proficient in MS Office Software (e.g., Excel, Word, and Outlook), and ability to learn and apply knowledge of specialized BSA/AML software.
Experience & Education
Bachelor's degree in related discipline or equivalent work experience.
3-5 years bank experience, and 1-2 years in BSA/AML and Fraud or related Compliance or Audit experience.
Certified Anti-Money Specialists (CAMS) designation preferred.
Internal and External Contacts
Regular contact with Retail Branch management and staff, and Compliance Officer.
Interaction with Retail Support Services, Legal, and Internal Audit Department, other Business Units and service providers as necessary.
Working Conditions/Physical Requirements
Office environment. Ability to operate computer. Ability to communicate in order to exchange simple to complex information with individuals and groups. Ability to travel throughout Bank footprint.
For Recruiting Agencies
OceanFirst Bank does not accept agency resumes submitted by third-party vendors unless a valid agreement has been signed and the OceanFirst Bank Talent Acquisition Team has granted authorization for submissions regarding a specified position. Please do not forward resumes to us, OceanFirst Bank employees or any other company location. OceanFirst Bank is not responsible for any fees related to unsolicited resumes.