Job Description

BSA/AML/KYC/OFAC Analyst I

Peapack Private Bank & Trust is a leader in wealth, lending and deposit solutions. At Peapack Private, our clients are cared for by a single point of contact and are served by empowered employees who consistently go above and beyond to provide exceptional service and offer a boutique private banking experience. What makes Peapack Private different? We are an institution 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 seventh consecutive year by American Banker as one of the "Best Banks to Work For" across the nation. In addition, we were selected as Crain's Best Places to work in NYC for our inaugural year, 2024. Our secret sauce in one word is our 'culture'. At Peapack Private, we value a diverse and inclusive workspace, deeply committed to growing leaders at all levels of the organization through mentorship, career pathing, and professional development. There are multiple ways to build relationships and get involved - from joining our Cultural Ambassador Committee focused on areas like Wellness, Fun, Inclusion, or Environmental Awareness - to involvement in community service activities through Volunteerism. Said quite simply, the culture and the people who work here are amazing!

Position Overview

The BSA/AML/KYC/OFAC Analyst I participates in day-to-day implementation of Bank's compliance with the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) and Office of Foreign Assets Control (OFAC) programs.

Key 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.

Qualifications:

• 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 Overview:

We offer a competitive compensation package, a generous paid time off program, comprehensive medical, dental and vision coverage, maternity/paternity leave, education reimbursement, wellness programs and more. We also offer participation in an Employee Stock Purchase Program and a 401K with a generous match. The approximate pay range for this position is $50,829.00 to $73,000.00, plus an opportunity to earn performance-based incentives. Please note that the pay range provided is a good faith estimate for the position at the time of posting. Final compensation may vary based on factors including, but not limited to knowledge, skills and abilities, as well as geographic location. Note: Incentives and/or benefits packages may vary depending on the position.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities. This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.

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