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Columbia Bank New Jersey · 2 hours ago

AML Specialist I

Fair Lawn, NJ

Full-time

Hybrid

Mid Level

3+ years exp

Columbia Bank New Jersey is seeking an AML Specialist I responsible for conducting preliminary investigations of system-generated alerts and unusual activity investigations leading to potential Suspicious Activity Reporting (SAR) filing. The role requires a high level of attention to detail and accountability, including filing SARs and reviewing the Bank’s Money Service Business (MSB) Program.

BankingFinancial ServicesMortgage

Responsibilities

Responsible for performing detailed examination to detect transactional and relationship patterns, trends, anomalies, 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

Tasked with ensuring 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 by Retail staff members

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. Compiles annual report of fees generated associated with this category of customer

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), adhering to Bank procedures related to this product

Acts as a liaison with the various departments that are involved in this process and makes suggestions in order 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 to the Bank requirements for the use of RDC on a monthly and annual basis. Utilizes custom built reports to aide 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 risked categorization of the client

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

Performs other job related duties as assigned

Qualification

BSA/AML ComplianceEnhanced Due Diligence (EDD)Banking Regulations KnowledgeMicrosoft Office SuiteCommunication Skills

Required

BA/BS or AA degree in a job-related field

3+ years of banking experience

Knowledge of related state and federal banking compliance regulations, Bank operational policies and procedures, and the Bank's products and services

Exceptional verbal, written, and interpersonal communication skills with the ability to carry out instructions, write reports, correspondence, and procedures, and speak clearly to employees

Skilled in Microsoft Office Suite, including Excel