Job Title: BSA Analyst
Location: Sewell, NJ
Parke Bank is a full-service commercial bank with the emphasis on providing personal and business financial services to individuals and small-sized businesses primarily in Gloucester, Atlantic and Cape May countries in New Jersey and Philadelphia and surrounding counties in Pennsylvania. Parke Bank commenced operations in January 1999. The principal office is located at 601 Delsea Drive, Sewell, NJ. We conduct business in branches located in Northfield, NJ, Galloway, NJ, Collingswood, NJ, two branches in Sewell, NJ as well as two branches in Philadelphia, PA.
The Bank Secrecy Act (BSA) Analyst will work under the direction of the BSA Compliance Officer to ensure that the bank meets its regulatory responsibilities. Assures compliance with all Bank policies and procedures, as well as all applicable state and federal banking regulations.
Job Duties and Responsibilities:
- Core duties and responsibilities include the following. Other duties may be assigned.
•High-Risk Account Monitoring (including Cash Intensive Businesses, Money Service Businesses and Marijuana Related Businesses)File initial/recurring Suspicious Activity Report (SARs)
Review onboarding documentation for new high-risk customers
Audit new accounts for all required Customer Identification Program (CIP)/opening documents
Maintain high-risk customer files for records that are expired or recurring.
Perform annual risk assessments.
Perform annual Enhanced Due Diligence (EDD) reviews of high-risk customers.
Monitor cash and transactional activity for high-risk customers.
•Investigate and disposition alerts generated via the AML platform.
•Review Red Flag alert scenarios.
•Process 314(a) and 314(b) requests
•Review OFAC fails for wires (through WireXchange and ACBB systems)
•Currency Transaction Report (CTR) review and monitoring to ensure accurate and timely filing & reporting.
•Maintain a current knowledge of BSA and all related Anti-Money Laundering (AML) and Office of Foreign Asset Control (OFAC) regulations through internal and external training.
•Performs all other duties as assigned by Management as related to the Bank and its functions.
Job Skills:
•Fiserv Financial Crime Risk Management (FCRM) Software experience (or other similar BSA/AML software)
•Minimum 3 years previous experience in BSA Compliance or BSA Auditing
•Experience in bank deposit operations, lending activities or related compliance functions
•Excellent computer skills including Microsoft Word and Excel
•Excellent communication and interpersonal skills
Education and Experience:
•High School Diploma and/or equivalent
•Two to 3 years of experience in BSA/AML/OFAC and/or branch operations procedures/
•Excellent computer skills
•Detail oriented
We offer medical benefits, dental benefits, life insurance, 401K, paid vacation, personal and sick days.
Parke Bank is an Equal Opportunity Employer and participates in E-Verify.