Job Description

Our client, based in Monmouth County, NJ, is seeking a BSA Risk Manager to oversee various aspects of their compliance programs. The successful candidate will collaborate with the BSA Officer to prepare the Annual BSA/AML/OFAC Risk Assessment, monitor BSA compliance activities, and ensure the proper implementation of AML software rules. This role also involves managing the BSA Risk Analysts' workflow, conducting enhanced due diligence (EDD) reviews, and providing training on BSA/AML processes. Additionally, the BSA/AML Compliance Manager will ensure adherence to regulatory requirements and offer technical support to operational departments while maintaining strong leadership within the team. Experience with CAP, CDD, and EDD is required. Candidates must have 5-7 years of previous experience in a similar role as well as 1-3 years of supervisory/managerial experience.

Responsibilities include:

• Collaborates with the BSA Officer to prepare the Annual BSA/AML/OFAC Risk Assessment and monitors all BSA Compliance Programs, ensuring proper rules are in place to assess money-laundering risks related to customer activity, including CDD (Customer Due Diligence) and EDD (Enhanced Due Diligence).
• Manages the BSA Risk Analysts' workflow, overseeing high-risk customer reviews, complex document evaluations, and annual reviews of MSBs/check cashers, while ensuring timely completion of CDD and EDD assessments.
• Provides leadership and guidance to staff on BSA compliance matters, ensuring adherence to regulations, and assisting in internal audits, regulatory examinations, and compliance training for the BSA/AML teams on both CDD and EDD procedures.
• Reviews, approves, and monitors EDD and CDD reports to ensure accuracy and the identification of suspicious activity, referring cases to the BSA FCC Unit for further investigation as necessary.
• Leads ongoing compliance efforts by staying updated on relevant regulations, acting as a technical resource, and recommending procedural improvements for BSA/AML operations, while fostering team development and ensuring cross-training within the department.

• Requirements:Experience with CAP, CDD, EDD
• Bachelor’s degree
• 5+ years of bank experience in BSA/AML role
• 1+ years of managerial experience

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