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  • Tinton Falls, NJ

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BSA Compliance Specialist

Two River Community Bank • Tinton Falls, NJ

Posted 17 hours ago

Job Snapshot

Full-Time
Experience - At least 2 year(s)
Banking - Financial Services
Banking
Relocation - No
15

Applicants

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Job Description

Two River Community Bank is headquartered in Tinton Falls, NJ and currently operates 14 branch locations and two loan production offices located in Monmouth, Middlesex, Union and Ocean Counties.

We are currently seeking a full time BSA Compliance Specialist to work in our Compliance Department in our headquarters.

Position Summary:               

The position of BSA/Compliance Specialist will report to the BSA/AML/OFAC Officer. The position is responsible for BSA compliance processes that support the overall BSA/AML Compliance Program at the Bank. Duties include CTR Preparation and filing process, reviews the BSA CIP new account documentation, assists with the quality control monitoring, activity analysis, reporting, and communication with branch and back-office departments throughout the Bank. This position reviews the lower risk OFAC alerts and escalates as necessary for further action.  .

Job Responsibilities:

BSA AML Program

  • Currency Transaction Reports (CTR):

  • Responsible for ensuring all CTR reportable transactions are identified and filed daily; follows up on any CTR filing error messages in the AML software tool.

  • Performs the daily CTR Package and maintains in electronic format for review and record retention; Reviews the system daily cash aggregation reports against the automated AML tool. Notates core cash report with review comments for the reportable transactions; attaches CTR conductor forms to report package; Reviews query reports daily for possible reportable cash transactions performed by our customers at ATMs or by non-customers performed in our branches, notates these reports, and attaches to the CTR package; Attaches copies of daily CTRs filed to the CTR Package; notifies the Jr. BSA Analyst when CTR package has been completed for review and CTRs are ready to be filed.

  • Coordinates the receipt of necessary CTR conductor information from the branch offices and assures accurate entering of this data into the AML software tool for proper CTR completion.

  •  Resolve discrepancies in conductor information or core with branches as necessary for accurate CTR filing; Performs follow up with branch personnel for any other missing information necessary to complete CTR properly.

  • Reviews incomplete CTR forms in the AML software tool in order to prepare CTR for filing; Verifies that all CTR information populated by the software is accurate by comparing critical fields in the CTR against information in the core and CTR conductor forms., saves CTR form and supporting documentation into the daily CTR Review Package for the Jr. BSA Analyst’s review and queuing of the CTR for submission.

  • Maintains the CTR log electronically for Board reporting, record retention, and audit requests.

  • Responds timely to any errors or correspondence received from FinCEN regarding CTRs filed

  •  Customer Information Profiles (CIP) , Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD):

 

  • Biweekly, generates the new RIMS not verified report from report writer and runs the Patriot Act query report to ensure all new accounts opened have been identified and verified;  saves reports electronically. The Patriot report will be distributed to Branch Management, Branch Administration and Loan Departments for their tracking of pending CIP documentation

  • Assists with the Quality Control testing for CIP/CDD by generating the NEW Rims Reports and obtaining copies of customer new account CIP package for sample testing. Testing will include a review of the CDD certification forms for proper completion. The results of sample testing will be documented on the QC spreadsheet, which will be distributed to Branch Management, Branch Administration, and Loan Departments.

  • Maintains updated profiles, risk assessments, and site visits for existing customers electronically for review by BSA/AML/OFAC Officer.  Follows up on missing documentation.

  • Assists with EDD review process by setting up an electronic files for high risk customers; saves CIP documentation, statements, and other supporting documentation into the customer file.

  • OFAC

  • Reviews FIS alerts generated for any possible OFAC hits, clear false positives and escalate likely positive matches to the BSA/AML/OFAC Officer.

  • Assures all false positive OFAC hits are properly documented in the FIS system.

  • Reviews Wire Pro alerts generated for any possible OFAC hits, clearing false positives and escalating likely positive matches to the BSA/AML/OFAC Officer.

  • Scans daily OFAC searches reviewed by Compliance to be maintained electronically for record retrieval and retention.

  • Suspicious Activity Reports (SAR) and Monitoring:

  • Assists the BSA/AML/OFAC Officer with monthly monitoring of suspicious activity by reviewing system the daily cash reports for potential structuring or unusual customer cash activity and escalates to the BSA/AML/OFAC Officer as necessary.

  • Maintains and reviews Monetary Instrument and gift card Logs electronically to identify possible patterns of suspicious activity; escalates as necessary.

  • Reviews and saves the monthly RDC report and RDC Return log electronically; selects a sample items for review for potential suspicious activity; escalates as necessary. .

  • Performs a review of sample bill pay, ACH, and IAT ACH transactions for possible suspicious activity; escalates as necessary.

  • Assures department files for SARs and other sensitive cases are maintained in a secure and confidential manner.

  • Compliance Online Training

  • Maintains users of online training through the online training system by adding and deleting users consistent with bank’s current employee list.

  • Assigns courses to bank employees as determined by the Chief Compliance Officer

  • Assists bank employees with online training issues such as resetting passwords and navigating through the system’s various screens and features.

  • Runs periodic reports of training activities and statuses as needed for various reasons.

  • Miscellaneous

  • Assists the BSA/AML/OFAC Officer with compiling deposit, and loan statistics for the annual BSA/AML/OFAC risk assessment by obtaining reports and logs from the core.

  • Maintains departmental records consistent with approved Record Retention Schedule.

  • Assists with preparation of documentation to be sent offsite to record retention and maintains copies of record retention forms.

  • Validates that certain critical data fields in the core (i.e., changes to signers, addresses, NAICS codes, etc.) are updated in the AML software tool.

  • Attends approved webinars and seminars to increase knowledge of BSA / AML Compliance.

  • Updates the ID Theft and Consumer Complaint logs maintained by the department.

  • Assists with document gathering and preparation as needed for audits and examinations.

  • Coordinates the supply orders for the department

  • Completes other duties as assigned by the BSA/AML/OFAC Officer.

  • Adheres to proper regulatory compliance practices inherent in this position’s responsibilities by following departmental policies and procedures, completing compliance training as assigned and questioning any areas of uncertainty regarding proper regulatory processes.

 

       

Job Requirements

Qualifications:

  • Minimum of 2 years experience in the banking industry or minimum of 1 year experience working in a BSA/AML position in a financial institution.

  • Knowledge of bank operations.

  • Demonstrates working knowledge of BSA/AML compliance for branch related activities.

  • Post-Secondary education credits or relevant certification helpful, but not required.

    Other Skills/Qualifications:

  • PC literate/Microsoft Office, Excel, Word, Power Point.

  • Ability to multi-task.

  • Ability to communicate effectively.

  • Ability to work with various levels of management.

  • A certain degree of judgment and latitude is required.

     


Interested applicants should send their resume and salary requirements to: [Click Here to Email Your Resumé]

Two River Community Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities, sexual orientation and gender identity.

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