BSA/AML/KYC/OFAC Analyst I

Company Overview:

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 thorough 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 initiativ...