Job Description

Magyar Bank, a leader in the community banking sector, is searching for qualified candidates to join our Compliance team as a BSA/AML Analyst in New Brunswick, New Jersey.

The BSA Analyst works with the BSA Officer to administer the Bank Secrecy Act/Anti-Money Laundering Program and related procedures in accordance with Bank’s policies, procedures and applicable federal regulations. You will also perform BSA/AML activity monitoring, analytics and reporting. Review documentation submitted to the Department for adherence to established guidelines and regulations

Essential Functions:

• Review Currency Transaction Reports (CTR) for adherence to established procedures and accuracy. Report results to BSA officer and submit CTRs electronically for the Bank
• Review daily and monthly reports following the guidelines established for Suspicious Activity Report (SAR). Document suspicious activity reviews for presentment to the Suspicious Activity Report Committee and/or BSA Officer, including maintaining committee minutes
• Obtain documentation and assist with Suspicious Activity Report (SAR) Investigations. Perform follow-up review as necessary
• Analyze cases involving suspicious activity and present to BSA Officer for review
• Perform analysis of core application and AML system reports that identify potential suspicious activity including case management
• Conduct research on the internet as part of the SAR investigations as instructed
• Assist the BSA Officer with the electronic submission of SARs
• Review documentation for all new business and consumer accounts and verify risk rating assigned to accounts per the Bank’s risk rating criteria
• Monitor all accounts that may be deemed as high risk and received from other sources in accordance with the established monitoring schedule. Monitoring to include reconciliation of accounts, changes to risk rating, and appropriate risk rate assignment.
• Perform Bi-weekly 314a list searches
• Review new account documentation received from branches for accuracy and completeness.
• Provide recommendations for periodic BSA training to address areas of weakness noted in branch/lending procedures in support of annual BSA program training.
• Stay current with changes in BSA regulations and develop related procedures or revisions to the BSA Program with the BSA Officer. 
• Other duties as assigned.

Requirements:

• High School diploma or equivalent required, some college desired.
• Minimum of three years banking experience including branch/platform experience. Knowledge of Bank Secrecy Act regulatory requirements, including CTRs and SARs, and basic knowledge of banking regulations. At least one year experience in BSA/AML.
• Basic knowledge of Bank services and products
• Computer literate, including knowledge of Microsoft Office, Excel, Word and Power Point and internet search.
• Strong organizational and time management skills
• High degree of accuracy and attention to detail
• Must be detail oriented with excellent follow up skills and the ability to multi-task.
• Strong analytical skills
• Must maintain a high degree of confidentiality
• Excellent communication skills including verbal and written
• Ability to effectively interact with all levels of management.
• Ability to work independently
• Ability to multi-task and work in a high volume environment

Magyar Bank offers competitive salary and comprehensive benefit package, which includes medical, dental, life insurance and 401k.

Magyar Bank is an Equal Employment Opportunity/Affirmative Action Employer - M/F/D/V

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