Location
Hicksville, NY | United States
Job description
The Sanctions Associate is responsible for maintaining certain aspects of the Bank's BSA/AML compliance program and assists in meeting and maintaining BSA/AML compliance requirements of the Bank. Complies with all applicable, federal and state laws, regulations and guidance, including those related to Anti-Money Laundering (i.e. Bank Secrecy Act, USA PATRIOT Act, etc.), as well as adhering to the Bank’s policies and procedures to reduce loss/risk to the Bank. Assigned to a team that is responsible for ensuring that the Bank is in compliance with all OFAC Sanctions as well as monitoring for various other requirements. The primary responsibilities are to conduct searches, review, and report any positive matches in a timely and accurate manner. The job includes; the review of wire transfers for potential matches with terrorist suspect lists, research of potential OFAC hits, and review scanning results of accounts for potential matches with terrorist suspect lists. In addition, the associate monitors; OFAC Alerts clearance for new accounts, IAT, wires, Monetary Instrument Logs, Loan Logs and periodic bank-wide monitoring. Pay Range: $17.00 - $21.25 - $25.50
- (90% of time) Responsible for the overall daily review, investigation and clearance of all potential sanction matches including new accounts, wires, ACH.
- (5% of time) Escalate potential sanctions matches to senior colleagues.
- (5% of time) Engage in additional assignments as directed by management. Attend and participate in team/department staff meetings and continuing education training. Acquire knowledge and maintain currency of all compliance, regulatory, and business unit policy, standard and procedure requirements associated with the job. Ensure compliance with applicable federal, state and local laws and regulations. Complete all required compliance training. Maintain knowledge of and adhere to internal compliance policies and procedures. Take responsibility to keep up to date with changing regulations and policies.
- Performs special projects, and additional duties and responsibilities as required.
- Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.
Job Qualifications:
- Education level required: High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent Field of study required or equivalent work experience: Finance, accounting, business management, or criminal justice
- One to three years of experience in Sanctions/OFAC Processes
- Good knowledge and understanding of general BSA/AML, OFAC, and USA PATRIOT Act and risk management principles
- Knowledge of core banking systems, and BSA monitoring systems
- Knowledge of banking regulations
- Computer literacy skills with proficiency in Microsoft Office as well as Internet research techniques
- Sound analytical and problem-solving skills
- Ability to meet deadlines and manage multiple tasks in a fast-paced environment
- Excellent communication, time management and investigative skills
- High degree of accuracy and attention to detail
- No travel requirements
- Physical demands (ADA): No unusual physical exertion is involved.
Job tags
Salary
