Under minimal supervision, the AML/OFAC Quality Control Specialist performs quality control (QC) test/inspections to ensure that work is appropriately completed and filed in accordance with regulatory requirements and agency guidelines.
Specific job duties of this position:
- Maintains AML/OFAC standards and procedures, and recommends changes and/or alternatives for process improvements.
- Reviews all cases completed/closed by the AML/OFAC Investigators to ensure that the appropriate decisions/recommendations have been made according to department standards, that the appropriate supporting documentation is obtained and that any decision made by an AML/OFAC analyst is appropriately supported and documented in accordance with Branch established standards.
- Evaluates completed AML/OFAC work and evaluate KYC profiles to ensure that it meets regulatory requirements as well as adhere to Branch’s internal policies and procedures.
- Communicates any errors/discrepancies found to the appropriate management and AML/OFAC Investigators and ensures that corrective action is taken.
- Generates related reports, including findings and trends to management.
- Maintains knowledge of developments in the area of OFAC and anti-money laundering, including FinCEN and OCC requirements relating to BSA/AML and the USA PATRIOT Act.
- Maintains QC standards and procedures, including risk-based standards for compliance testing, and enters quality control findings into a QC database accurately and in a timely manner.
Candidates for this position MUST meet the following requirements:
- 4-year degree. Individuals with required education/experience plus Certified Anti-Money Laundering Specialist (CAMS) certification would be preferred.
- 2-4 years of previous investigative experience with specific emphasis on OFAC, AML, BSA is required. Prior audit and/or quality control experience would be preferred.
- Must be able to demonstrate knowledge of OFAC, USA Patriot Act, Bank Secrecy Act (BSA), and Anti-Money Laundering (AML) regulatory requirements.
- Previous experience in the following skills is required.
- Strong leadership and interpersonal skills with the ability to interact effectively with staff.
- Excellent written and verbal communication skills.
- Excellent investigative, analytical and problem resolution skills.
- The ability to prioritize and complete deliverables in a timely and effective manner.
- Competency with OFAC and AML compliance monitoring systems.
- High level of proficiency in the Microsoft Office Suite and Internet-based research.