Job Description
Magyar Bank, a leader in the community banking sector, is searching for qualified candidates to join our Compliance team as a BSA/AML Investigator in New Brunswick, New Jersey.
The BSA /AML Investigator works with the BSA Officer to administer the Bank Secrecy Act/Anti-Money Laundering Program and related procedures in accordance with Bank’s policies, procedures and applicable federal regulations. You will also perform BSA/AML activity monitoring, analytics and reporting. Review documentation submitted to the Department for adherence to established guidelines and regulations
Essential Functions: - Investigate and decision FCRM alerts generated on customer’s activity within the applicable timeframe
- Review daily, weekly, monthly and quarterly monitoring reports for potential suspicious activity
- Review Currency Transaction Reports (CTR) for adherence to established procedures and accuracy. Submit CTRs electronically for the Bank
- Conduct SAR investigations adhering to established procedures. Submit SARs electronically for the Bank
- Perform Additional Enhanced Due Diligence Reviews (AEDD) for higher-risk customers
- Escalate suspicious activity for further investigation
- Review documentation for new business accounts, including business profiles, site visits and beneficial ownership forms, etc.
- Review documentation for Non-Resident Aliens
- Review OFAC and sanctions lists for potential matches
- Perform Bi-weekly 314a list searches
- Conduct training on topics as needed, such as New Hire BSA Training, Business Profiles, Site Visits, Currency Transactions Reports, etc.
- Assist with compilation of Audit and Examination request items
- Stay current with changes in BSA regulations
- Other duties as assigned
Requirements:
- High School diploma or equivalent required, some college desired.
- Minimum of one year of BSA experience.
- Minimum of three years banking experience including branch/platform experience. Knowledge of Bank Secrecy Act regulatory requirements, including CTRs and SARs, and basic knowledge of banking regulations.
- Basic knowledge of Bank’s services and products
- Computer literate, including knowledge of Microsoft Office, Excel, Word and Power Point and internet search.
- Strong organizational and time management skills
- High degree of accuracy and attention to detail
- Must be detail oriented with excellent follow up skills and the ability to multi- task.
- Strong analytical skills
- Must maintain a high degree of confidentiality
- Excellent communication skills including verbal and written
- Ability to effectively interact with all levels of management.
- Ability to work independently
- Ability to multi-task and work in a high -volume environment
Magyar Bank offers competitive salary and comprehensive benefit package, which includes medical, dental, life insurance and 401k. **This is a full-time onsite position. ** Magyar Bank is an Equal Employment Opportunity/Affirmative Action Employer - M/F/D/V
Job Tags
Full time, Work at office,