Job Information
Blue Foundry Bank Junior BSA Analyst in Parsippany-Troy Hills, New Jersey
About Blue Foundry Bank
This is the Bank Where Things are Made. Blue Foundry is a bank where businesses are shaped, plans are formed, ideas are refined, solutions are built, and stuff gets done. Blue Foundry is revolutionary, bold, resourceful, roll-up-your-sleeves committed, smart, creative and fun. A Bank of movers, shakers, and makers…We are a Bank that Gets Things Done.
At Blue Foundry Bank we invest in the well-being of our most prized asset…our employees! We provide a robust array of programs and benefits to help employees advance their careers and enhance the quality of their lives. Our experiential learning and development program ensures employees are on track to grow their career as of day one.
In addition, our comprehensive compensation package includes; medical, dental, and vision coverage; life insurance, short- and long-term disability insurance; 401(k)/Roth with company match up to 5%; paid time off, and 11 paid holidays; employee referral bonus; and educational reimbursement.
Position Summary
The Junior BSA (Bank Secrecy Act) Analyst supports Blue Foundry Bank's compliance program by assisting in the implementation and maintenance of policies and procedures to ensure adherence to applicable laws and regulations, including the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) regulations, Know Your Customer (KYC) and Customer Due Diligence (CDD) requirements, USA Patriot Act, and Office of Foreign Assets Control (OFAC) guidelines.
This role focuses on analyzing regulatory changes, assisting in the development of compliance measures, and maintaining open communication with stakeholders to ensure timely implementation of updates.
Primary Responsibilities
Identifies and investigates possible suspicious activity by reviewing alerts, account transactions and customer identification information.
Conducts a thorough analysis of the collected data documenting the investigation results and providing initial recommendations with supporting conclusion to BSA Management, all within a timely manner
Perform reviews of new business account documents as well as reviews Customer Due Diligence forms for adherence to established CDD procedures and to further identify any business account opening that may be in violation of the Bank’s BSA Policy
Review information gathered on CDD documents to ensure the appropriate risk rating has been applied to the account relationship and identify customers that may require Enhanced Due Diligence
Notifies appropriate business lines of incomplete or insufficient CDD information that requires timely actions
Review Core system cash reports for CTR and suspicious activity
Report on Currency Transactions via automated money laundering system
Keeps informed of laws, regulations, and current practices pertaining to the Bank Secrecy Act
Position Requirements
One to three years of similar or related banking experience
Excellent written and oral communications skills combined with a demonstrated ability to clearly understand, translate, and articulate projects, objectives, goals, schedules, and assignments across various personnel and management levels
Ability to work effectively with Bank Staff at all levels as well as with outside vendors and regulators
Knowledge of laws applicable to money laundering, to include the BSA, The USA Patriot Act, U.S. Treasury AML Guidelines, OFAC requirements and Suspicious Activity Reporting Requirements
Experience in banking services, branch operations, risk management, or other related functions essential
Ability to work independently and as a team
Superior organizational and analytical skills
Strong time management skills
Must be highly flexible, multi-task oriented, and capable of changing directions based on immediate business demands
Basic proficiency with Microsoft Office including Outlook, Word, Excel, and Powerpoint
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, LGBTQ, national origin, disability or protected veteran status.
Come join the Blue Crew community and be part of our success!