BSA FCC Analyst (On Site) - Toms River, NJ

At OceanFirst Bank, each one of our employees plays an important role in fulfilling the mission and taking responsibility to execute daily tasks in alignment with our core values. Together we foster an environment of respect, professionalism and diversity that makes OceanFirst a great place to work and do business.

Great benefits include: on-site fitness facility at Red Bank and Toms River headquarter offices, hybrid schedule after initial onboarding has been completed (4 days in office, 1 day remote), employee perks & discount programs, tuition assistance, incentive compensation program, professional development opportunities, and more! Apply today to #BecomeOceanFirst and make an impact in the local community!

About The Role

The BSA Financial Crime Compliance Analyst assists the Bank Secrecy Act (BSA) Department in all requirements necessary to achieve and maintain a satisfactory level of BSA compliance as it relates to Currency Transaction Reporting/Designation of Exempt Person and suspicious activity reporting through system alert monitoring, exercising judgment, and decision/resolution following Federal and state banking laws. Additionally, has knowledge of Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) requirements to fulfill the position responsibilities.

What You Will Do

1. Ensures compliance with legal/regulatory requirements and adherence to the Bank's BSA/AML/OFAC Policy including the Bank Secrecy Act and Currency Transaction Reporting.
2. Conducts investigations of potentially suspicious BSA and Fraud activity related to alerts and assigned cases from the Bank's Transaction Monitoring System or reported by Security Department, Bank employees, Bank customers or Law Enforcement authorities. Suggests appropriate actions for resolution.
3. Conducts analysis on transactional data to make determinations of irregular activity through understanding of industry norms, historical customer activity and regulatory definitions of suspicious activity.
4. Performs review of the customers' activity and conducts investigations based on 314a and 314b information sharing requests.
5. Exercises sound judgment while examining, identifying, and documenting suspicious account activity, behaviors, and patterns.
6. Prepares Suspicious Activity Reports (SARs) on all identified suspicious activity and advises BSA Management as appropriate.

1. Communicates with OceanFirst Bank's retail banking and back-office personnel to resolve issues as appropriate.
2. Remains current on regulations pertaining to Bank Secrecy Act and Anti-Money Laundering to help ensure Bank's compliance.
3. Processes OFAC Updates and FinCEN Requests against customer database and analyzes potential matches to determine validity. Conducts Q&A of the branch personnel OFAC onboarding process.
4. Monitors Returned Deposited Items (RDI) for potential suspicious and fraudulent activity.
5. Performs Remote Deposit Capture (RDC) Risk Assessment and Monetary Instrument (MI) review for potential money laundering patterns, and reviews OFAC and PEP alerts on various Bank's systems.
6. Investigates potential suspicious cash transactions, utilizing previous experience and training, exhibit independent judgement to determine the appropriate course of action for suspicious activity to be escalated for further analysis.
7. Monitors the activity of CTR exempt customers on an annual basis to recertify CTR exemption eligibility.
8. Acts as a procedural resource for the various business lines and staff on matters pertaining to BSA/AML and Fraud.
9. Performs daily review of CTRs and potential CTRs generated by the Transaction Monitoring System -- including quality control to ensure accurate and timely filing of CTRs.
10. Assists Management in procedural process and recommends enhancements or modifications to the Department procedures and automated BSA/AML and Fraud systems.
11. Engages in additional assignments as directed by Management.