Assist the Sanctions Team Leader in managing and maintaining all aspects of the Branch’s OFAC program in accordance with applicable laws and regulations and the Branch’s policies and
procedures. On a day to day basis, review and analyze OFAC inquiries and potential hits to either clear them or request a second level review; specifically, the OFAC Analyst is expected to:
- Maintain and oversee processes and controls to maintain an effective sanctions program.
- Identify areas of risk and work with business units to identify control gaps, provide remediation
and work on implementation.
- Process Level 1 Alerts and Cases in the Branch’s workflow tools (Fircosoft and Bridger)\
- With the understanding that, based on level of experience, user may act as Level 2
- Review and analyze Fin CEN 314(a) inquiries and potential hits.
- Ensure that the OFAC filter is sufficiently and effectively functional to detect high risk transactions. This includes executing tasks to ensure filters are updated
- Support MIS reporting
- Interpret data, identify and conduct thorough investigations of potential sanction violations, and support OFAC Blocking and Reject Reports for review and filing by management.
- Maintain area documentation including procedures and manuals.
- Execute application testing under a project scope.
- Help to remediate Internal Audit issues and/or regulatory action findings as assigned.
- Attend mandatory and recommended compliance training
KNOWLEDGE AND EXPERIENCE REQUIREMENTS:
- B.A. degree supplemented by appropriate special training or experience in OFAC compliance
and the USA PATRIOT Act.
- Experience in a similar role (experience with international bank is preferred).
- Experience with BSA/AML/OFAC software.
- Successful completion of outside OFAC/Sanctions training seminars is a plus. Former
experience with a regulatory agency is a plus.
- Two years of experience in either funds transfer or sanctions operations
- Proven experience in working in a team environment and seen as a strong team player.
- Strong organizational, analytical and communications skills.
- Able to prioritize and multi-task, demonstrates flexibility and adaptability.
- Able to make good decisions with a keen sense of judgment.
- Able to manage time and work independently.
- Possess the cultural sensitivity to work as part of an international bank, and demonstrate the
reliability, patience and thoughtfulness to build effective relationships and earn respect
No direct reports nor supervisory responsibility.