Senior BSA Analyst

About Blue Foundry Bank

This is the Bank Where Things are Made. Blue Foundry is a bank where businesses are shaped, plans are formed, ideas are refined, solutions are built, and stuff gets done. Blue Foundry is revolutionary, bold, resourceful, roll-up-your-sleeves committed, smart, creative and fun. A Bank of movers, shakers, and makers…We are a Bank that Gets Things Done.

At Blue Foundry Bank we invest in the well-being of our most prized asset…our employees! We provide a robust array of programs and benefits to help employees advance their careers and enhance the quality of their lives. Our experiential learning and development program ensures employees are on track to grow their career as of day one.

In addition, our comprehensive compensation package includes medical, dental, and vision coverage; life insurance, short- and long-term disability insurance; 401(k) / Roth with company match up to 5%; paid time off, and 11 paid holidays; employee referral bonus; and educational reimbursement.

SENIOR BSA ANALYST

Department : Risk Management

Reports to : BSA / AML Officer

Position Summary

The Senior BSA / AML Analyst is responsible for testing and monitoring the Bank’s enterprise wide BSA / AML / OFAC program to ensure the Bank complies with the regulatory requirements under the Bank Secrecy Act (BSA), other Anti-Money Laundering (AML) Laws and Regulations along with the Office of Foreign Asset Control (OFAC) Laws and Regulations. The Senior BSA / AML Analyst will be responsible for managing complex BSA / AML / OFAC related functions such as analysis, investigations and disposition of alerts generated from the Bank’s BSA / AML automated surveillance monitoring software as well as preparing detailed reports and analysis of BSA / AML / OFAC data.

The rate of pay is the minimum amount offered for this position. Blue Foundry Bank will compensate employees in a fair and equitable manner, taking into consideration education, skills, current and relevant experience, among other factors.

Minimum Job Requirements

Bachelor’s degree required or commensurate work experience.

5 years of experience in AML / BSA specific functions.

10 years of overall professional experience in financial services.

Professionally certified in the money laundering realm, whether ACAMS or CAFP.

Strong organizational skills and attention to details are needed to ensure proper recordkeeping. Sense of accountability and ownership over “quality”.

Analytical skillset, with the ability to sift through voluminous transactional data to extract / summarize key elements.

Objective decision-making skills, and the ability to defend one’s own work.

Strong verbal and written communication skills are necessary to explain complex situations into easily understood narratives and tables.

Ability to work independently, and as a team, throughout the organization.

Ability to handle sensitive situations.

Experience with case management platforms such as Verafin.

Specific Job Functions

Supports the BSA / AML Officer and team in the day-to-day BSA program requirements of the Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC)

Assists in the development and implementation of a BSA / AML and OFAC program that effectively reviews the Bank’s operations for compliance with applicable laws and regulations.

Assists in monitoring and maintaining the Bank’s customer identification and customer due diligence programs and ensures ongoing compliance with regulatory expectations.

Stays informed of all laws, regulations, and other information that affect the Bank Secrecy Act / Anti-Money Laundering, USA Patriot Act, and OFAC compliance program.

Supports the development of BSA / AML and OFAC compliance resources and contributes to compliance training materials.

Assist BSA Officer as an in-house resource to provide BSA / AML and OFAC compliance advice and guidance to management and employees; answers management and employee BSA / AML and OFAC compliance questions.

Assists the BSA Officer with written reports and recommendations regarding the status of the Bank’s compliance with BSA / AML and OFAC rules and regulations to senior management and the Board of Directors

Reviews policies and procedures to ensure compliance and management of risk and recommends changes or corrective action regarding BSA / AML and OFAC issues as needed.

Monitors and analyzes legislative and regulatory developments regarding BSA / AML and OFAC issues and the related risk for the Bank. Reports important compliance developments to BSA Management.

Maintains an advanced level understanding of BSA / AML and OFAC regulations to enhance decision making and aptitude of job duties.

Assists in the direction provided to staff in the performance and analysis of Currency Transaction reports, Suspicious Activity reports, OFAC reports.

Support staff with Bank Secrecy Act / Anti-Money Laundering (BSA / AML) related questions by providing guidance and answering questions, concerns, and problem-solving for employees.

Identifies and monitors transactional patterns or suspicious behavior relating to the BSA / AML policy.

Ensure that government report filings such as Currency Transaction Reports, Designation of Exempt Persons, §314(a) responses, and §314(b) opt in are completed accurately, timely, and meets regulatory requirements of FinCEN.

Serve as Bridger and Verafin administrator for other department users. Help to resolve log-in issues.

Documents research in notes and completes thorough write-ups to be reviewed with BSA Officer

Understands internal programs utilized by the Bank in order to perform daily job duties.

Identifies procedural changes and shares with department staff.

Assists in the writing of SARs, reports, risk assessments and presentations to BSA Management

Assists with administration of state and federal regulator / auditor examinations and reviews.

Assists in review, implementation, and validation of the rule sets that govern the Bank’s suspicious AML model.

Assists in the governance process of the Bank’s model risk management program as it relates to BSA / AML and OFAC

Assists in responding to 314(a) requests and coordinates with law enforcement on the successful resolution of 314(a) reviews.

Serve as backup to the BSA / AML Officer in his / her absence.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, LGBTQ, national origin, disability or protected veteran status.

Blue Foundry Bank will award an employee referral payment to employees who refer new hires. If the candidate is hired, the referring employee will be eligible to receive referral payment in accordance with the following guidelines :

• $100 after the new employee has completed his / her three-month anniversary
• $400 after the one-year anniversary

Both employees must be employed on the anniversary date of the referred employee in order to receive a referral payment.

All employees should have knowledge of bank’s procedures and its compliance as it pertains to their position.