Motionworks' tour of built-in AE filters continues with After Effects A-Z: CC Film Burn:
"Guest host James Zwadlo introduces the After Effects’ CC Burn Film effect and shares some creative uses for water and displacement effects.l."
While many AE filters will work in Premiere (see details), this filter does not.
GenArts Monsters GT (see Stylize) has some built-in advantage with edges over this one, but as the Motionworks' tour showed, addition comping will take you further. Walter Soyka also had some forum advice a few months ago on how to enhance CC Burn Film.