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Amerant Bank · 10 hours ago

BSA OFAC Specialist

Miramar, FL

Full-time

Onsite

Entry, Mid Level

1+ years exp

Amerant Bank is seeking a BSA OFAC Specialist responsible for reviewing and researching potential matches to government sanctions or internal watch lists. The role involves conducting investigations, monitoring daily alerts, and ensuring proper documentation of OFAC processes.

Financial Services

H1B Sponsor Likely

Responsibilities

Monitor daily screening results for the bank’s customer records and child institutions. Review potential OFAC hits, disposition the alerts in the screening system, and conduct applicable investigation to clear those matches

Monitor daily alerts resulting from ACH transactions. Review potential OFAC hits, disposition the alerts in the screening system, and conduct applicable investigation to clear those matches

Conduct investigations on escalated OFAC alerts derived from the Wire departments. Research potential matches and request for information to the business units to release, block, or reject the transaction

Escalate OFAC hits to immediate supervisor accordingly

Perform testing reviews to ensure updates to OFAC Sanctions and Non-Sanctions lists such as the OFAC Specially Designated Nationals (SDN) lists are uploaded in the bank’s screening system

Identify gaps or issues and escalate to immediate supervisor to ensure data integrity related files being screened or OFAC list updates

Ensure adequate documentation is maintained in all phases of OFAC processes

Maintain OFAC logs daily and ensure decisions are well documented

Assist in the daily review of Cashier’s Checks. Perform daily review of negotiable instruments to ascertain that OFAC Screening was performed in accordance with implemented procedures. Escalate to immediate Supervisor any unusual or suspicious activity noted

Process OFAC searches for other areas of the bank such as Operations, Loans, Vendor Management, etc

Perform testing reviews on alerts closed by the wire department to ensure alerts were properly dispositioned and documented in the OFAC system

Communicate with regulatory bodies such the Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) as needed

Remain current on regulatory AML/BSA and OFAC requirements and actions

Query the customer and transaction records against the FinCEN’s 314a list every 14 days, and/or as requested by FinCEN

Review and analyze FinCEN 314(a) inquiries and potential hits. Review of Customer, Wire, and ACH potential matches are reviewed and properly documented within 14 days, and/or as requested by FinCEN. Determine whether a potential hit is a false positive or a positive match considering the customer’s bank records including but not limited to name, street address, state, country, unique identifiers (i.e. social security number, employer identification number, tax identification, passport, etc.). In addition, the OFAC Specialist is responsible for conducting due diligence on possible matches where there is not enough information to disposition the hit

Refer 314a matches to the Financial Intelligence Unit to conduct enhanced due diligence as needed

Assist in the examinations and independent audits

Participate in ad hoc projects or perform other assignments as needed

Qualification

BSA/AML complianceOFAC regulationsFinCEN 314a inquiriesMS Excel AdvancedBilingual English/SpanishAnalytical skillsCommunication skillsOrganizational skillsTeam player

Required

Bachelors' Degree in Business Administration

1-3 years of compliance experience (i.e., BSA/AML and OFAC)

Strong understanding of BSA/AML and OFAC regulations, regulatory expectations, and leading practices suspicious activity reporting, client screening/OFAC requirements, and risk assessment

Knowledge of operational processes and internal controls required for OFAC

Strong verbal, written communication, and organizational skills with the ability to summarize and present findings in a clear and concise manner

Ability to work collaboratively with cross-functional units; ability to navigate a complex organization to influence people across cultures

Ability to manage confidential and sensitive information in a professional manner

MS Word, MS Excel Advanced, and MS PowerPoint are required

Must be a team player, ability to work in high-volume, high pressure processing environment

Self-starter with proven ability to plan and work independently

High level of professionalism, self-motivation, and sense of urgency; ability to re-prioritize work as the immediate needs of the business change

Analytical and deductive reasoning skills

Ability to multi-task and prioritize workloads, meet deadlines, maintain attention to detail, resolve issues, and work independently

Preferred

AML/BSA/OFAC accredited certifications is a plus

Bilingual English/Spanish preferred

Company

Amerant Bank

Amerant Bank, N.A., Florida's bank of choice, is the main subsidiary of Amerant Bancorp Inc.

Founded in 1979

Coral Gables, Florida, USA

501-1000 employees

https://www.amerantbank.com/

H1B Sponsorship

Amerant Bank has a track record of offering H1B sponsorships. Please note that this does not guarantee sponsorship for this specific role. Below presents additional info for your reference. (Data Powered by US Department of Labor)

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2024 (1)

2022 (1)

2020 (3)