Job Type: Full-time
Location: Parsippany, NJ
Summary:
The Senior BSA Analyst plays a critical role in safeguarding the bank’s integrity by overseeing, testing, and monitoring its enterprise-wide Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) compliance programs. This position ensures that the bank adheres to all regulatory requirements, proactively identifying and mitigating financial crime risks.
The Senior Analyst is responsible for managing complex BSA/AML/OFAC-related functions, including conducting in-depth analysis, investigations, and dispositions of alerts generated by the bank’s BSA/AML automated surveillance systems. They will assess transaction patterns, identify potential suspicious activity, and prepare comprehensive reports with detailed findings and risk assessments. Additionally, this role collaborates closely with internal teams, auditors, and regulatory bodies to maintain a robust compliance framework, continuously enhancing policies and procedures in response to evolving financial crime threats and regulatory expectations.
The Senior BSA/AML Analyst is a key player in strengthening the bank’s financial crime compliance efforts, ensuring proactive risk management, and upholding the highest standards of regulatory adherence.
Minimum/Essential Job Requirements:
Primary Responsibilities
Deliver top-tier customer service by processing mortgage and home equity leads from branch and contact center referrals, calls, emails, and other channels.
Actively listen to understand borrower needs, take complete and qualified applications, and structure deals to align with borrower objectives.
Cross-sell products and services to meet lending needs and refer deposit product needs to branch partners.
Recognize and escalate service issues as necessary, ensuring timely resolution for time-sensitive or complex service needs.
Consistently meet or exceed performance metrics, such as application conversion rates, call handling times, and borrower satisfaction scores.
Ensure compliance with all regulatory requirements, maintaining a current NMLS number and displaying the MLO Unique Identifier on business cards, email signatures, and communications.
Stay informed on the latest mortgage products, regulatory updates, contact center trends, and bank policies, implementing enhancements as needed.
Utilize relevant technology tools effectively, including borrower engagement platforms, telephony systems, CRM, and Loan Origination Software (LOS).
Recommend new technology, workflows, and processes to enhance customer engagement, improve operational efficiency, and support evolving customer needs.
Stay up to date with advancements in mortgage origination technology and contact center software to maintain high service standards.
Demonstrate proficiency in Microsoft Suite (Word, Excel, PowerPoint) and industry-leading LOS, such as Dark Matter Empower.
Attend and facilitate homebuyer education seminars, financial wellness webinars, and other events to provide valuable guidance and promote residential lending services.
Participate in bank-sponsored community events and branch meetings to build awareness of home loan products among employees, customers, and prospects.
Develop and nurture strategic relationships with community partners to support business growth and community involvement.
Work regularly from branches to increase awareness of home loan products among team members, assisting with customer and prospect education.
Collaborate with Branch Relationship Managers, Assistant Branch Managers, branch teams, and contact center teams to align on lending goals and foster a cohesive approach to residential lending.
-----
Sr. BSA Analyst
Position Summary
The Senior BSA Analyst plays a critical role in safeguarding the bank’s integrity by overseeing, testing, and monitoring its enterprise-wide Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) compliance programs. This position ensures that the bank adheres to all regulatory requirements, proactively identifying and mitigating financial crime risks.
The Senior Analyst is responsible for managing complex BSA/AML/OFAC-related functions, including conducting in-depth analysis, investigations, and dispositions of alerts generated by the bank’s BSA/AML automated surveillance systems. They will assess transaction patterns, identify potential suspicious activity, and prepare comprehensive reports with detailed findings and risk assessments. Additionally, this role collaborates closely with internal teams, auditors, and regulatory bodies to maintain a robust compliance framework, continuously enhancing policies and procedures in response to evolving financial crime threats and regulatory expectations.
The Senior BSA/AML Analyst is a key player in strengthening the bank’s financial crime compliance efforts, ensuring proactive risk management, and upholding the highest standards of regulatory adherence.
Primary Responsibilities
Supports the BSA/AML Officer and team in the day-to-day administration of the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) programs to ensure regulatory compliance.
Assists in the development, implementation, and enhancement of BSA/AML and OFAC policies, ensuring alignment with federal and state regulations.
Monitors and maintains the customer identification and due diligence programs, ensuring ongoing adherence to regulatory expectations.
Reviews and recommend updates to policies and procedures to manage risk and improve compliance effectiveness.
Assists in regulatory audits and examinations, supporting responses to federal and state regulators as needed.
Conducts reviews and investigations of suspicious activities, currency transactions, and OFAC screenings, ensuring accurate reporting and documentation.
Identifies and monitors transactional patterns and suspicious behaviors in accordance with the bank’s AML policies.
Assists in the validation and enhancement of the rules and parameters governing the Bank’s AML monitoring system.
Provides support in preparing, reviewing, and submitting Suspicious Activity Reports (SARs), Currency Transaction Reports (CTRs), and other required government filings to FinCEN.
Responds to 314(a) requests and coordinates with law enforcement on related investigations.
Prepares detailed reports, risk assessments, and presentations on the bank’s BSA/AML/OFAC compliance status for senior management and the Board of Directors.
Monitors and analyzes legislative and regulatory changes, providing updates and recommendations to BSA Management.
Assists in the governance and oversight of the Bank’s model risk management program as it relates to BSA/AML and OFAC compliance.
Assists in the review, implementation, and validation of the rule sets governing the Bank’s AML surveillance model.
Documents research and investigation findings, ensuring accuracy and compliance with internal and regulatory requirements.
Additional Responsibilities
Serves as an in-house BSA/AML and OFAC compliance resource, providing guidance and answering inquiries from management and employees.
Assist in the development of BSA/AML and OFAC compliance training materials and assists in training staff to enhance awareness and adherence.
Serves as the Bridger and Verafin system administrator, resolving user access issues and troubleshooting system-related concerns.
Supports internal teams by documenting procedural changes and sharing best practices to improve compliance effectiveness.
Assists in directing staff in the performance of BSA/AML compliance functions, including monitoring reports and conducting analysis.
Serves as a backup to the BSA/AML Officer in their absence, ensuring continuity of compliance operations.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, LGBTQ, national origin, disability or protected veteran status.