Apply on Employer Site

Columbia Bank New Jersey · 1 day ago

AML Specialist II

Fair Lawn, NJ

Full-time

Hybrid

Mid Level

$73K/yr - $110K/yr

3+ years exp

Columbia Bank New Jersey is seeking an AML Specialist II responsible for conducting investigations of system-generated alerts and unusual activities to support compliance with anti-money laundering regulations. The role involves performing detailed examinations, overseeing the Bank's Money Service Business program, and ensuring compliance with state and federal regulations related to cryptocurrency and gambling.

BankingFinancial ServicesMortgage

Responsibilities

Responsible for performing detailed examinations to detect transactional and relationship patterns and behaviors, trends, and schemes across multiple business lines and products that the Bank offers

Acts as an escalation point for more complex cases and investigations and presents recommendations and possible solutions for resolving more complex situations while exercising independent judgement and developing full knowledge in the function of identifying and resolving potentially suspicious or hazardous situations

These methods include, but are not limited to, AML software generated alerts and cases, Currency Transaction Reporting (CTR), follow up suspicious activity investigations, and reviewing of additional reports that are custom built for detecting potential money laundering

Communicates results of analysis and/or research to appropriate departmental leadership including conclusions and recommendations for next steps

Handle law enforcement requests for information and maintain data retention of said requests and communication. Perform follow up communication when necessary

Tasked with overseeing that the Bank’s Money Service Business (MSB) program remains in compliance and all relative reviews, ranging from initial reviews conducted at on boarding to quarterly reviews of activity, and annual Enhanced Due Diligence (EDD) reviews are completed accurately and in a timely manner

Acts as a liaison with front line staff to coordinate obtaining required annual documentation from higher risked clients, performs the due diligence review of collected documentation and ensures that site visits are completed annually and correctly

Maintains current and accurate MSB High Risk listing and provides listing of clients to Treasury Operations Department to ensure that proper charges are being applied to clients

Reviews and presents annual report of fees generated associated with this category of customer to the BSA Manager and other individuals across business lines within the Bank

Performs analysis on the category of customers that have been detected to have association with cryptocurrency and gambling to ensure compliance with state and federal regulations

Responsible for identifying said category of customers and for obtaining in depth understanding of the workings of the client to ensure proper classification along with completing annual enhanced due diligence (EDD) associated with customer

Completes risk assessment and analysis of customer applying for Remote Deposit Capture status (RDC) and other Treasury Management services, adhering to Bank procedures related to this product and others

Acts as a liaison with the various departments that are involved in this process and makes suggestions to streamline the process so that growth and expansion is possible associated with this product and business line

Maintains monthly review and analysis of this category of customer to ensure compliance with the Bank requirements for the use of RDC on a monthly and annual basis

Utilizes custom-built reports to aid in research

Performs Enhanced Due Diligence (EDD) reviews on the Bank’s High Risk customer listing, as assigned by the BSA Assistant Manager or BSA Manager

Ensures each customer being reviewed is in compliance as it relates to Customer Information Profiles (CIP), KYC, and site visits along with the identifying reasons for the higher risk categorization of the client

Develops and maintains risk methodology for the High-risk categories of customers as the Bank grows

Keeps abreast of any new or amended BSA, AML compliance matters and disseminates information to appropriate Bank personnel as related to job function

Serves as a Subject Matter Expert (SME) in the respective role

Other duties assigned, as needed

Qualification

Anti-Money Laundering (AML)Financial Crimes ComplianceEnhanced Due Diligence (EDD)Certified Anti-Money Laundering Specialist (CAMS)FederalState RegulationsLeadership SkillsCommunication SkillsProblem-Solving SkillsInterpersonal Skills

Required

Bachelor's degree

Minimum 3 years of experience in financial crimes compliance, specifically in anti-money laundering (AML)

Strong knowledge of federal and state banking regulations, operational policies, and the bank's products and services

Demonstrated leadership ability with proven decision-making and independent problem-solving skills

Excellent verbal, written, and interpersonal communication skills, including the ability to draft reports, procedures, and correspondence, and effectively communicate with employees at all levels

Experience supporting internal audits and regulatory examinations, including preparing documentation and responding to examiner inquiries