Blue Foundry Bank
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BSA Analyst
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Blue Foundry Bank Get AI-powered advice on this job and more exclusive features. Position Summary
The
BSA Analyst
plays a critical role in safeguarding the bank’s integrity by overseeing, testing, and monitoring its enterprise-wide Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) compliance programs. This position ensures that the bank adheres to all regulatory requirements, proactively identifying and mitigating financial crime risks. The analyst conducts in-depth analysis, investigations, and dispositions of alerts generated by the bank’s BSA/AML automated surveillance systems, collaborates closely with internal teams, auditors, and regulatory bodies to maintain a robust compliance framework, and continuously enhances policies and procedures in response to evolving financial crime threats and regulatory expectations. Primary Responsibilities
Supports the BSA/AML Officer and team in the day-to-day administration of the BSA, AML, and OFAC programs to ensure regulatory compliance. Assists in the development, implementation, and enhancement of BSA/AML and OFAC policies, ensuring alignment with federal and state regulations. Monitors and maintains the customer identification and due diligence programs, ensuring ongoing adherence to regulatory expectations. Reviews and recommends updates to policies and procedures to manage risk and improve compliance effectiveness. Assists in regulatory audits and examinations, supporting responses to federal and state regulators as needed. Conducts reviews and investigations of suspicious activities, currency transactions, and OFAC screenings, ensuring accurate reporting and documentation. Identifies and monitors transactional patterns and suspicious behaviors in accordance with the bank’s AML policies. Assists in the validation and enhancement of the rules and parameters governing the Bank’s AML monitoring system. Provides support in preparing, reviewing, and submitting SARs, CTRs, and other required government filings to FinCEN. Responds to 314(a) requests and coordinates with law enforcement on related investigations. Prepares detailed reports, risk assessments, and presentations on the bank’s BSA/AML/OFAC compliance status for senior management and the Board of Directors. Monitors and analyzes legislative and regulatory changes, providing updates and recommendations to BSA Management. Assists in the governance and oversight of the Bank’s model risk management program as it relates to BSA/AML and OFAC compliance. Assists in the review, implementation, and validation of the rule sets governing the Bank’s AML surveillance model. Documents research and investigation findings, ensuring accuracy and compliance with internal and regulatory requirements. Additional Responsibilities
Serves as an in-house BSA/AML and OFAC compliance resource, providing guidance and answering inquiries from management and employees. Assists in the development of BSA/AML and OFAC compliance training materials and training staff to enhance awareness and adherence. Serves as the Bridger and Verafin system administrator, resolving user access issues and troubleshooting system-related concerns. Supports internal teams by documenting procedural changes and sharing best practices to improve compliance effectiveness. Assists in directing staff in the performance of BSA/AML compliance functions, including monitoring reports and conducting analysis. Serves as a backup to the BSA/AML Officer in their absence, ensuring continuity of compliance operations. Position Requirements
Bachelor’s degree required or commensurate work experience. 2–4 years of experience in AML/BSA specific functions. 5 years of overall professional experience in financial services. Strong organizational skills and attention to detail to ensure proper recordkeeping and quality ownership. Analytical skillset, with the ability to sift through voluminous transactional data and extract key elements. Objective decision-making skills and the ability to defend one’s own work. Strong verbal and written communication skills to explain complex situations in an easily understood manner. Ability to work independently and as a team throughout the organization. Ability to handle sensitive situations. Experience with case management platforms such as Verafin. Equal Employment Opportunity
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!
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BSA Analyst
role at
Blue Foundry Bank Get AI-powered advice on this job and more exclusive features. Position Summary
The
BSA Analyst
plays a critical role in safeguarding the bank’s integrity by overseeing, testing, and monitoring its enterprise-wide Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) compliance programs. This position ensures that the bank adheres to all regulatory requirements, proactively identifying and mitigating financial crime risks. The analyst conducts in-depth analysis, investigations, and dispositions of alerts generated by the bank’s BSA/AML automated surveillance systems, collaborates closely with internal teams, auditors, and regulatory bodies to maintain a robust compliance framework, and continuously enhances policies and procedures in response to evolving financial crime threats and regulatory expectations. Primary Responsibilities
Supports the BSA/AML Officer and team in the day-to-day administration of the BSA, AML, and OFAC programs to ensure regulatory compliance. Assists in the development, implementation, and enhancement of BSA/AML and OFAC policies, ensuring alignment with federal and state regulations. Monitors and maintains the customer identification and due diligence programs, ensuring ongoing adherence to regulatory expectations. Reviews and recommends updates to policies and procedures to manage risk and improve compliance effectiveness. Assists in regulatory audits and examinations, supporting responses to federal and state regulators as needed. Conducts reviews and investigations of suspicious activities, currency transactions, and OFAC screenings, ensuring accurate reporting and documentation. Identifies and monitors transactional patterns and suspicious behaviors in accordance with the bank’s AML policies. Assists in the validation and enhancement of the rules and parameters governing the Bank’s AML monitoring system. Provides support in preparing, reviewing, and submitting SARs, CTRs, and other required government filings to FinCEN. Responds to 314(a) requests and coordinates with law enforcement on related investigations. Prepares detailed reports, risk assessments, and presentations on the bank’s BSA/AML/OFAC compliance status for senior management and the Board of Directors. Monitors and analyzes legislative and regulatory changes, providing updates and recommendations to BSA Management. Assists in the governance and oversight of the Bank’s model risk management program as it relates to BSA/AML and OFAC compliance. Assists in the review, implementation, and validation of the rule sets governing the Bank’s AML surveillance model. Documents research and investigation findings, ensuring accuracy and compliance with internal and regulatory requirements. Additional Responsibilities
Serves as an in-house BSA/AML and OFAC compliance resource, providing guidance and answering inquiries from management and employees. Assists in the development of BSA/AML and OFAC compliance training materials and training staff to enhance awareness and adherence. Serves as the Bridger and Verafin system administrator, resolving user access issues and troubleshooting system-related concerns. Supports internal teams by documenting procedural changes and sharing best practices to improve compliance effectiveness. Assists in directing staff in the performance of BSA/AML compliance functions, including monitoring reports and conducting analysis. Serves as a backup to the BSA/AML Officer in their absence, ensuring continuity of compliance operations. Position Requirements
Bachelor’s degree required or commensurate work experience. 2–4 years of experience in AML/BSA specific functions. 5 years of overall professional experience in financial services. Strong organizational skills and attention to detail to ensure proper recordkeeping and quality ownership. Analytical skillset, with the ability to sift through voluminous transactional data and extract key elements. Objective decision-making skills and the ability to defend one’s own work. Strong verbal and written communication skills to explain complex situations in an easily understood manner. Ability to work independently and as a team throughout the organization. Ability to handle sensitive situations. Experience with case management platforms such as Verafin. Equal Employment Opportunity
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!
#J-18808-Ljbffr