Peapack Private Bank & Trust
BSA/AML/OFAC Officer
Peapack Private Bank & Trust, Bedminster, New Jersey, United States, 07921
BSA/AML/OFAC Officer
Implements a system of internal controls for compliance with the Bank Secrecy Act, including suspicious activity reporting and anti-money laundering across the Bank's functional areas and product lines. Develops policies and standards for measuring compliance; conducts periodic reviews; provides staff training; files applicable BSA reports; and corrects deficiencies. Brings deep experience from large New York-based financial institutions and global sanctions compliance, with a focus on higher-risk client types, including maritime clients. Serves as Co-Chair of the Bank's Risk Acceptance and Reputation Risk Committee. Key Responsibilities: Ensures complete compliance with the Bank Secrecy Act, OFAC, AML, and all related regulations. Administers risk-based program to prevent money laundering and countering the financing of terrorism. Keeps current with all appropriate regulatory changes and court rulings. Leads the Bank SAR Committee and presents recommendations regarding SAR filings. Ensures timely completion and filing of all required BSA, OFAC, and AML reports. Manages and maintains lists of high-risk and exempt clients, including maritime and other elevated-risk sectors. Oversees BSA activity monitoring systems. Maintains and updates BSA/AML, OFAC, and fraud policies, procedures, and risk assessments. Prepares for BSA/AML regulatory examinations and independent audits. Provides periodic updates to the Board of Directors and Senior Management on BSA compliance and fraud issues. Requirements: High School diploma or G.E.D required; BA/BS in Business, Accounting, or equivalent additional work experience required. CAMS and/or CRCM certification preferred. Minimum of 15 years of BSA/AML/OFAC experience, including five years of recent supervisory experience. Experience working in large financial institutions, including experience with NY AML laws and requirements. Expertise in global sanctions compliance, including OFAC and international regulatory frameworks. Proven ability to manage and assess higher-risk client accounts, including those in the maritime industry. Strong problem-solving, communication, and organizational skills. Ability to work independently and multitask with limited supervision. Proficient in Microsoft Office and BSA/AML monitoring systems. Benefits Overview: We offer a competitive compensation package, a generous paid time off program, comprehensive medical, dental, and vision coverage, maternity/paternity leave, a hybrid work environment (for most roles), education reimbursement, wellness programs, and more. We also offer participation in an Employee Stock Purchase Program and a 401K with a generous match. The approximate pay range for this position is $117,300 to $160,000 plus an opportunity to earn performance-based incentives. Please note that the pay range provided is a good faith estimate for the position at the time of posting. Final compensation may vary based on factors including, but not limited to knowledge, skills, and abilities, as well as geographic location. Note: Incentives and/or benefits packages may vary depending on the position.
Implements a system of internal controls for compliance with the Bank Secrecy Act, including suspicious activity reporting and anti-money laundering across the Bank's functional areas and product lines. Develops policies and standards for measuring compliance; conducts periodic reviews; provides staff training; files applicable BSA reports; and corrects deficiencies. Brings deep experience from large New York-based financial institutions and global sanctions compliance, with a focus on higher-risk client types, including maritime clients. Serves as Co-Chair of the Bank's Risk Acceptance and Reputation Risk Committee. Key Responsibilities: Ensures complete compliance with the Bank Secrecy Act, OFAC, AML, and all related regulations. Administers risk-based program to prevent money laundering and countering the financing of terrorism. Keeps current with all appropriate regulatory changes and court rulings. Leads the Bank SAR Committee and presents recommendations regarding SAR filings. Ensures timely completion and filing of all required BSA, OFAC, and AML reports. Manages and maintains lists of high-risk and exempt clients, including maritime and other elevated-risk sectors. Oversees BSA activity monitoring systems. Maintains and updates BSA/AML, OFAC, and fraud policies, procedures, and risk assessments. Prepares for BSA/AML regulatory examinations and independent audits. Provides periodic updates to the Board of Directors and Senior Management on BSA compliance and fraud issues. Requirements: High School diploma or G.E.D required; BA/BS in Business, Accounting, or equivalent additional work experience required. CAMS and/or CRCM certification preferred. Minimum of 15 years of BSA/AML/OFAC experience, including five years of recent supervisory experience. Experience working in large financial institutions, including experience with NY AML laws and requirements. Expertise in global sanctions compliance, including OFAC and international regulatory frameworks. Proven ability to manage and assess higher-risk client accounts, including those in the maritime industry. Strong problem-solving, communication, and organizational skills. Ability to work independently and multitask with limited supervision. Proficient in Microsoft Office and BSA/AML monitoring systems. Benefits Overview: We offer a competitive compensation package, a generous paid time off program, comprehensive medical, dental, and vision coverage, maternity/paternity leave, a hybrid work environment (for most roles), education reimbursement, wellness programs, and more. We also offer participation in an Employee Stock Purchase Program and a 401K with a generous match. The approximate pay range for this position is $117,300 to $160,000 plus an opportunity to earn performance-based incentives. Please note that the pay range provided is a good faith estimate for the position at the time of posting. Final compensation may vary based on factors including, but not limited to knowledge, skills, and abilities, as well as geographic location. Note: Incentives and/or benefits packages may vary depending on the position.