Having joined the Bank in 2008, Suellen continues to play essential role at Manasquan Bank as Vice President, Bank Secrecy Act (BSA) Officer. Throughout the past years as BSA Officer, Suellen has grown the BSA department into a successful BSA/Fraud team of six. Suellen’s day-to-day responsibilities include coordinating the development, implementation and administration of all aspects of the corporate-wide Bank Secrecy Act (BSA) Compliance Program. Together with her team, they administer programs to ensure the Bank is compliant with state and federal laws and regulations (including the Bank Secrecy Act (BSA), USA PATRIOT Act, Anti-Money Laundering (AML), and OFAC.
Also called The Currency and Foreign Transactions Reporting Act of 1970, the BSA was initially adopted in 1970. The law originally required banks to maintain certain records and to report large currency transactions. The BSA is intended to safeguard the U.S. financial system and the financial institutions that make up that system from the abuses of financial crime, including money laundering, terrorist financing and other illicit financial transactions.
Prior to joining the Bank in 2008, Suellen worked at Freehold Savings and Loan as Assistant Secretary/BSA Compliance Officer Manager. “Leaving Freehold Savings and Loan was without a doubt the hardest decision I’ve had to make, and immediately knew it was the best decision I could have made” stated Suellen. Suellen has witnessed Manasquan Bank transform and grow from seven branches when she started in 2008 to fifteen branches in 2020. “The Bank continues on its progressive path to attract and serve five generations of banking patrons. Our mission is to remain relevant and offer new financial services that entices all generations to make Manasquan Bank their financial institution of choice” continued Suellen.
If protecting the bank and its clients wasn’t enough, Suellen is an active member of Redeem Her, a 501(c) (3) non-profit organization, that provides support to women committed to staying free from addiction. She served as Board of Director in 2016 – 2018, and currently serves as a consultant. She is also deeply involved with New Jersey Bankers Association, serving on the Women in Banking committee. Suellen stays active by biking, playing golf and serving spikes on the Bank’s very own volleyball team. Suellen and her husband are celebrating their 40th wedding anniversary this year.