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The BSA OFAC Specialist II is primarily responsible for reviewing and researching potential matches to government sanctions, internal watch lists, and 314a sharing information.
This position performs ongoing monitoring of the OFAC alerts and decisioning conducted by different areas of the Bank to ensure compliance and correct disposition.
The OFAC Specialist conducts special testing reviews to ensure appropriate mitigating controls are in place to reduce risks of money laundering or violations of global sanctions.
In addition, the position provides expert advice on new business initiatives and complex transactions ensuring compliance with OFAC regulations.
Responsibilities :
Escalate to immediate Supervisor any unusual or suspicious activity noted.
Communicate with regulatory bodies such the Office of Foreign Assets Control and the Financial Crimes Enforcement Network as needed.
Remain current on regulatory AML / BSA and OFAC requirements and actions.
Assist in the examinations and independent audits.
Participate in ad hoc projects or perform other duties assigned.
Minimum Education and / or Certifications :
Bachelors’ Degree in Business Administration or Finance. AML / BSA / OFAC accredited certifications is a plus.
Minimum Work Experience Requirements :
3-5 years of relevant 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.
Technical and / or Essential Knowledge :
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.
Bilingual English / Spanish preferred.
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.
Last updated : 2024-05-15
Full Time
$98k-121k (estimate)
05/18/2024
05/24/2024