BSA/AML/KYC/OFAC Analyst I

Peapack Private Bank & Trust is a well-recognized, high-performing boutique bank; a leader in wealth, lending and deposit solutions, capable of providing the most sought-after products and services that fulfill all of our clients' needs. We offer an innovative approach to private banking to help clients establish, maintain and expand their legacy.

What makes Peapack Private different from our competition? We are an institution that's over 100 years old that has always believed in putting the well-being and needs of our employees and our clients first. We are proud to be recognized for the sixth consecutive year, by American Banker as one of the 'Best Bank to Work For' across the nation. Our secret sauce in one word is our 'culture'. We value a diverse, equitable, inclusive, and safe workspace. Our one-team culture goes to great lengths to show all employees that they are valued members of the team. We treat each other as family, and as such, communicate throughout the Bank in a transparent and frequent manner, respect and value feedback from all levels and operate with a philosophy of hospitality and general human kindness.

There are multiple way to build relationships and get involved; from joining one of our Cultural Ambassador Sub-Committees focused on our Wellness, Employee Fun, Diversity & Inclusion, or Environmental Awareness, to involvement in multiple community service activities through our Volunteerism outreach, to joining LIFT (a committee focused on enriching the lives of women - Leading Inspiring Females Together). Said quite simply, the culture is amazing!

POSITION RESPONSIBILITIES:

• Ensures compliance with the Anti Money Laundering, Know Your Customer, OFAC/Sanctions and other regulatory requirements.
• Remains proficient in automated or manual systems used to detect suspicious activity and identify list matches.
• Performs transaction analysis of customer activity in a transaction monitoring system and via manual reports.
• Identifies trends of suspicious financial activity; monitors and researches suspicious financial transactions.
• Facilitates suspicious activity investigations.
• Completes Suspicious Activity Reports (SARs) and SAR follow-ups.
• Performs OFAC screening and resolves the alerts
• Reviews CTRs for proper completion.
• Processes 314(a) information requests
• Assists with submission of SARs and CTRs to FinCEN, tracks regulatory timelines.
• Interacts with Branch Personnel to obtain copies of account and customer information related to CIP and Enhanced Customer Due Diligence.
• Assists with Enhanced Due Diligence and Know Your Customer (KYC) reviews.
• Develops financial product, system, and process knowledge relating to anti-money laundering and Sanctions compliance.
• Remains updated on regulatory changes and court rulings as they relate to BSA, OFAC, AML, and consumer compliance regulations.
• Prepares analytics and reports to senior leadership.
• Participates in AML compliance initiatives
• Attends job related seminars and workshops as needed.
• Possesses a strong working knowledge of business line operating practices and policies; and maintains strong working relationships with appropriate industry groups and governmental agencies. Position will work closely with Line of Business representatives, Legal, Risk & Compliance, Audit, Human Resources, vendors and law enforcement.
• Assists with any projects assigned to the Risk and Compliance Department.
• Performs other functions as assigned by the management.

REQUIREMENTS:

• High School diploma or G.E.D required
• Working knowledge of AML rules and regulations
• Minimum one year of recent banking or financial service experience that includes AML, KYC or OFAC responsibilities
• Good understanding of banking operations and types of transactions
• High work ethics
• Must be skilled at problem identification and resolution
• Strong verbal and written communication skills
• Excellent organizational and time management skills
• Able to work independently and multitask as needed, with limited supervision
• Ability to deal effectively and tactfully with Bank personnel of other departments either in person or over the phone
• Ability to operate a PC and working knowledge of Microsoft Office products

Benefits

Peapack Private Bank & Trust offers medical, dental, and vision coverage to full-time employees, in addition to a competitive PTO package and 401k match.