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CFSB · 2 months ago

Senior Associate, OFAC Senior Analyst I

New York, NY

Full-time

Onsite

Mid, Senior Level

$85K/yr - $110K/yr

4+ years exp

CFSB is a full-service payments, lending and banking provider that delivers global financial services through a personal approach. The Senior Associate, Office of Foreign Assets Control (OFAC) Senior Analyst I role involves analyzing OFAC alerts related to banking services and ensuring compliance with OFAC sanctions and regulations.

BankingCommunitiesFinancial ServicesLending

Responsibilities

Investigate escalations of sanctions screening of real-time and post-transactional alerts in the Bank’s automated sanctions screening solution for potential violations of OFAC and other governmental sanctions. Investigate potential matches and true positive hits; escalate for further review and approval as required by procedure

Ability to assist in ancillary duties to ensure efficient identification and monitoring of sanctioned entities, including case tracking and assisting with quality control reviewing

Conduct investigations to ensure that the OFAC work is handled in accordance with defined procedures that meet standards for both quality and timeliness

Review daily manual reports for OFAC screening, documenting the reviews and reporting findings to management as necessary

Review potential customer name matches and escalations from the bi-weekly Financial Crimes Enforcement Network’s (FinCEN’s) 314(a) list

Succinctly and clearly summarize potential match escalations (including conducting additional research) accordingly and thoroughly document the resolution

Interact with other departments/lines of business on resolution of issues (e.g., Operations Department, CFSB clients)

Stay abreast of regulatory changes and AML related news, with an emphasis on OFAC sanctions-related developments. Ensure timely completion of all mandatory training requirements

Effectively utilize and operate all tools and technology appropriate to the role

Identify potential strategic process improvements and assist with implementation

Assist other teams within Compliance on workflow and project when needed

Qualification

OFAC sanctions knowledgeBSA/AML complianceCAMS certificationSanctions screening experienceMicrosoft Suite proficiencyResearch skillsCommunication skillsTeamwork skillsProblem-solving skills

Required

4 to 6 years of banking and OFAC sanctions screening experience

Solid understanding of OFAC sanctions, Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) regulations

Demonstrable knowledge of enterprise systems, network, security, and software administration and engineering within a hybrid cloud environment

Experience with OFAC sanction screening of various customer types (e.g., Money Services Businesses such as money transmitters; pre-paid card programs; debit card programs; and retail banking customers)

Expert level ability to obtain necessary information to classify an escalated OFAC hit as a 'match' or 'not a match' with minimal guidance and supervision

Strong research, analysis, communication, writing, and follow-up skills

Ability to identify, escalate and resolve a problem

Ability to liaise between internal business lines and external vendors and clients

Ability to work dependably and consistently under time constraints

In-depth understanding of compliance and BSA/AML/OFAC regulatory requirements and implications

Proficiency in standard Microsoft Suite programs

Bachelor's degree or evidence of directly related experience to the role

Minimum of 4 to 6 years in an OFAC screening-specific role