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BSA Analyst II

POSITION SUMMARY

Under general direction, this individual contributor ensures compliance with the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) regulations, the USA PATRIOT Act, Know Your Customer (KYC) requirements, Office of Foreign Asset Control (OFAC) regulations, Customer Identification Program (CIP) requirements and Provident Bank's policies and procedures (hereafter referred to as the "BSA Program").  This position is a senior level in the job family.  Incumbent is expected to display professional maturity, judgment and experience.  A certain level of creativity, diplomacy and latitude is expected.  Incumbent is expected to train less experienced staff members.

 

  MAJOR JOB RESPONSIBILITIES

 

  • The BSA Analyst II position is focused on Alert Clearing and Case Management within the Verafin System by analyzing system generated alerts inclusive of referrals from the branch, other business units, subpoenas, 314(a) requests and OFAC for unusual or suspicious activity. 
  • Conduct in-depth case investigations and documenting the investigation results and provide recommendations with supporting conclusion to BSA Management, all within a timely manner.  Writes Suspicious Activity Report (SAR) narrative, where applicable. 
  • Makes recommendations as to account closeouts and/or restrictions based upon investigation results. The individual will be responsible for maintaining day-to-day BSA operations.
  • Conducts periodic enhanced due diligence reviews and annual exempt customer reviews to identify activity that may not align with the business nature/industry and/or customer due diligence profile. 
  • Analyzes customer behavior and activity patterns of low, medium, and high-risk customers to determine if custom settings need to be applied.
  • Participate in special projects or assignment as necessary.
  • Assists in the timely research of and response to 314(a) Requests to ensure the Bank’s compliance with FinCEN’s noted deadlines.
  • Assist in updating department policies and procedures to ensure compliance with regulations. Recommends changes to the Bank's BSA Program and/or account opening policies and procedures.
  • Performs related duties as required that may include but are not limited to:                         
    • Providing supporting documentation and explanation of SARs and investigation activities to law enforcement;
    • Conducting Customer Due Diligence inclusive of customer meetings and/or site visits due to abnormal or suspicious activity that would require further analysis based on risk categories and customer profiles.  Conducting periodic Check Casher Reviews;
  • Keeping informed of laws, regulations, and current practices pertaining to the Bank Secrecy Act and Anti-Money Laundering regulations

 

SUPERVISORY RESPONSIBILITIES

       None

 

  SKILLS AND TRAINING  (Continued)

  •        Knowledge of the BSA, AML, USA PATRIOT Act, KYC, and OFAC regulations.
  •        Knowledge of databases and websites used in the investigations of suspicious activity, including money laundering and terrorist financing.
  •        Knowledge of banking and branch operations.
  •        Good personal computer skills and proficient in using software commonly employed in an office environment.
  •        Excellent written and oral communications skills.
  •        Ability to analyze business situations, identify problems or concerns, determine applicable scenarios and choose the appropriate solution to the problem.
  •        Interacts with other Bank personnel to obtain customer information for use in suspicious  activity investigations.

  EDUCATION

       Bachelor’s degree

  WORK EXPERIENCE

       3 to 5 years

  LICENSES AND/OR CERTIFICATES                                                                                                           Expiration Date

          Certified Anti-Money Laundering Specialist (CAMS) preferred.

       

WORKING CONDITIONS

Work is performed in a normal office environment; however, work may be performed in all areas within the Bank. May include travel by automobile.

HAZARDS

The hazards are mainly those present in a normal office setting, and those present in commuting by car.

This job description may not be all-inclusive.  Employees are expected to perform other duties as assigned and directed by management.  Job descriptions and duties may be modified when deemed appropriate by management.


We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.

 


About Provident Bank

For more than 180 years, Provident Bank has served individuals, families, and businesses in our local communities with personal and business banking services.

Volunteering is a Way of Life

Our brand promise - “Commitment you can count on” - supports the investments we make in the community and donations made by our employees. It’s a promise also reflected in the volunteerism of our employees, who lend time and talent and countless hours to assist hundreds of organizations and thousands of people and animals each year.

Why do we love it?

  1. We get to volunteer in areas that are meaningful to the bank and impactful in the community.
     
  2. Through generous contributions, we have raised over $28,000 in 2018. No item or donation is too small; we find a home for it all.


Nearest Major Market: New Jersey