OceanFirst Bank
BSA Governance & QA Manager (On Site)
OceanFirst Bank, Toms River, New Jersey, us, 08757
At OceanFirst Bank, each one of our employees plays an important role in fulfilling the mission and taking responsibility to execute daily tasks in alignment with our core values. Together we foster an environment of respect, professionalism and diversity that makes OceanFirst a great place to work and do business.
Great benefits include: on-site fitness facility at Red Bank and Toms River headquarter offices, hybrid schedule after initial onboarding has been completed, employee perks & discount programs, tuition assistance, incentive compensation program, professional development opportunities, and more! Apply today to #BecomeOceanFirst and make an impact in the local community!
About the Role
The BSA Governance & QA Manager ensures the bank's compliance with the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) regulations. This role is responsible for performing and managing quality assurance reviews, overseeing strategic initiatives, and ensuring the integration of financial crime compliance systems across all business lines. The manager supports the BSA Officer in regulatory monitoring, risk assessments, and training development, while also providing recommendations for process improvements and ensuring adherence to regulatory requirements. Additionally, the role involves collaborating with various departments to ensure project success and resolve issues, maintaining proficiency in compliance standards, and effectively communicating with team members and management.
What You Will Do
Perform & manage quality assurance reviews on a sample and targeted basis of work performed by BSA employees across various processes related to BSA, AML, and OFAC including handling of alerts generated, case investigations, due diligence reviews, and regulatory reporting. Report findings and observations to management, provide recommendations for process improvements, and track open exception items. Assist in the development and execution of enterprise and targeted training. Assist the BSA Officer in the development and execution of Financial Crimes Compliance related risk assessments. Oversees bank-wide strategic initiatives and projects to ensure that BSA financial crime compliance, risk, and sanctions systems are integrated appropriately across all business lines. Executes management reports relating to SARs and CTRs; and data analytical reports for FCC-related trends. Perform routine data validation in the bank's transaction monitoring system. Works with other LOBs in support of making projects successful and resolving any issues that may arise. Performs periodic testing & analysis of BSA/AML & Watch List alerts utilizing above-the-line and below-the-line methodology to improve the quality of alerts. Reviews the bank's transaction monitoring system enhancements and partners with BSA Management to enhance BSA, AML, OFAC, and Financial Crime Compliance processes. Partners with the BSA Officer and management to understand departmental goals, challenges, and future requirements and subsequentially translated those into short-and long-term projects which are managed to completion. Recommends revisions to Bank BSA processes, policies, and procedures as necessary and appropriate in response to changing legal and regulatory requirements. Other duties and responsibilities may be assigned, according to the needs of the Bank.
What We Expect of You Advanced knowledge of the Bank Secrecy Act (BSA) and related regulations related to CTRs, Designation of Exempt Person reporting requirements, SARs, Customer Due Diligence, Enhanced Due Diligence, Beneficial Ownership, and OFAC. Solid knowledge of AML monitoring systems to be able to perform periodic testing & analysis of BSA/AML & Watch List alerts; and utilizing analytical tools to validate large data sets to identify gaps, issues, or mapping deficiencies. Ability to evaluate various types of BSA/AML/CDD/Watch List alerts and investigation reviews. Familiarity with various AML monitoring and ancillary systems utilized by the BSA Department Ability to develop written business requirements, procedures and/or policy documents. Proven ability to independently make decisions and possess critical thinking and problem-solving skills. Highly effective communicator, both verbal and written, with strong presentation/leadership skills Must be able to work and thrive in a fast paced, high demand and deadline driven environment. Demonstrate a strong sense of urgency by responding immediately to escalated issues and rapidly changing priorities. Excellent communicator, both written and oral, with strong presentation skills combined with a demonstrated ability to clearly understand, translate, and articulate projects, goals, and assignments across various personnel and management levels. Your Qualifications
Bachelor's degree in business or related field preferred or equivalent work experience 8+ years bank experience in BSA/AML Governance, Quality Assurance, and Fraud or related Compliance or Audit experience 1 to 3 years prior supervisory or management experience strongly preferred. Certified Anti-Money Specialists (CAMS) designation or equivalent. Internal and External Contacts
Frequent contact with Retail Branch management staff, IT, and other lines of businesses. Interaction with Retail Customer Services, Retail Support Services, Legal, and Internal Audit Department, other Business Units and service providers as necessary.
Working Conditions/Physical Requirements
Office environment. Ability to operate computer. Ability to communicate to exchange simple to complex information with individuals and groups. Ability to travel throughout Bank footprint.
Great benefits include: on-site fitness facility at Red Bank and Toms River headquarter offices, hybrid schedule after initial onboarding has been completed, employee perks & discount programs, tuition assistance, incentive compensation program, professional development opportunities, and more! Apply today to #BecomeOceanFirst and make an impact in the local community!
About the Role
The BSA Governance & QA Manager ensures the bank's compliance with the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) regulations. This role is responsible for performing and managing quality assurance reviews, overseeing strategic initiatives, and ensuring the integration of financial crime compliance systems across all business lines. The manager supports the BSA Officer in regulatory monitoring, risk assessments, and training development, while also providing recommendations for process improvements and ensuring adherence to regulatory requirements. Additionally, the role involves collaborating with various departments to ensure project success and resolve issues, maintaining proficiency in compliance standards, and effectively communicating with team members and management.
What You Will Do
Perform & manage quality assurance reviews on a sample and targeted basis of work performed by BSA employees across various processes related to BSA, AML, and OFAC including handling of alerts generated, case investigations, due diligence reviews, and regulatory reporting. Report findings and observations to management, provide recommendations for process improvements, and track open exception items. Assist in the development and execution of enterprise and targeted training. Assist the BSA Officer in the development and execution of Financial Crimes Compliance related risk assessments. Oversees bank-wide strategic initiatives and projects to ensure that BSA financial crime compliance, risk, and sanctions systems are integrated appropriately across all business lines. Executes management reports relating to SARs and CTRs; and data analytical reports for FCC-related trends. Perform routine data validation in the bank's transaction monitoring system. Works with other LOBs in support of making projects successful and resolving any issues that may arise. Performs periodic testing & analysis of BSA/AML & Watch List alerts utilizing above-the-line and below-the-line methodology to improve the quality of alerts. Reviews the bank's transaction monitoring system enhancements and partners with BSA Management to enhance BSA, AML, OFAC, and Financial Crime Compliance processes. Partners with the BSA Officer and management to understand departmental goals, challenges, and future requirements and subsequentially translated those into short-and long-term projects which are managed to completion. Recommends revisions to Bank BSA processes, policies, and procedures as necessary and appropriate in response to changing legal and regulatory requirements. Other duties and responsibilities may be assigned, according to the needs of the Bank.
What We Expect of You Advanced knowledge of the Bank Secrecy Act (BSA) and related regulations related to CTRs, Designation of Exempt Person reporting requirements, SARs, Customer Due Diligence, Enhanced Due Diligence, Beneficial Ownership, and OFAC. Solid knowledge of AML monitoring systems to be able to perform periodic testing & analysis of BSA/AML & Watch List alerts; and utilizing analytical tools to validate large data sets to identify gaps, issues, or mapping deficiencies. Ability to evaluate various types of BSA/AML/CDD/Watch List alerts and investigation reviews. Familiarity with various AML monitoring and ancillary systems utilized by the BSA Department Ability to develop written business requirements, procedures and/or policy documents. Proven ability to independently make decisions and possess critical thinking and problem-solving skills. Highly effective communicator, both verbal and written, with strong presentation/leadership skills Must be able to work and thrive in a fast paced, high demand and deadline driven environment. Demonstrate a strong sense of urgency by responding immediately to escalated issues and rapidly changing priorities. Excellent communicator, both written and oral, with strong presentation skills combined with a demonstrated ability to clearly understand, translate, and articulate projects, goals, and assignments across various personnel and management levels. Your Qualifications
Bachelor's degree in business or related field preferred or equivalent work experience 8+ years bank experience in BSA/AML Governance, Quality Assurance, and Fraud or related Compliance or Audit experience 1 to 3 years prior supervisory or management experience strongly preferred. Certified Anti-Money Specialists (CAMS) designation or equivalent. Internal and External Contacts
Frequent contact with Retail Branch management staff, IT, and other lines of businesses. Interaction with Retail Customer Services, Retail Support Services, Legal, and Internal Audit Department, other Business Units and service providers as necessary.
Working Conditions/Physical Requirements
Office environment. Ability to operate computer. Ability to communicate to exchange simple to complex information with individuals and groups. Ability to travel throughout Bank footprint.