VP AML Compliance

VP AML Compliance - Sanctions

Our Client, an International Bank located in White Plains, NY, is actively recruiting for a VP Compliance - Sanctions. The specialist should

have a strong understanding of the regulations and compliance requirements for sanctions in all the jurisdictions in which the bank operates, as well as experience in logic to reject, block, accept, and escalate transactions. In addition, it must have analytical skills, a strong sense of business, and the ability to collaborate with a wide range of stakeholders.

Areas of Responsibility

• Continuously improve the company's sanctions framework, keeping abreast of relevant developments and updates in laws and regulations in the jurisdictions in which the bank operates.
• Analyze penalties to determine if there are reasonable grounds to suspect a penalty violation.
• Develop and provide sanctions training to various parts of the organization.
• Act as a point of escalation as regards the company's sanctions framework, especially in case of potential sanctions-related issues or potential sanctions circumventions.
• Conduct name screening and analysis of potential matches against various sanctions lists and internal watch lists, investigating and resolving potential matches, escalating to senior management as necessary, ensuring compliance with AML/ATF regulations and policies.
• Responsible for filing “Voluntary Self Disclosure” (VSD) when and if applicable.
• Collaborate and communicate with the competent authorities and law enforcement agencies in relation to the actual impacts of sanctions and/or monitoring of sanctions audits, providing requested documentation in an effective and efficient manner.
• Issue rules, policies and procedures in relation to sanctions and applicable throughout the bank.
• Assess the bank's risk of non-compliance and perform on-site controls to verify that the group entities comply with the issued standards.
• Promote a compliance culture to ensure efficient and effective risk management and compliance practices, complying with the required standards and processes.
• Work collaboratively with other areas to ensure successful integration of new products into detection platforms and case management tools.
• Support compliance with sanctions by driving innovation and data-driven solutions.
• Stay up-to-date with any regulatory updates or changes.
• Provide advice and guidance to key stakeholders and teams on OFAC penalty regulations
• and related company policies and procedures.
• Ensure compliance with the controls related to the projects, tasks and processes it executes.

Minimum Requirements

Level of Education:

BA in Accounting, Economics, Finance, Law or similar degree.

Extensive knowledge of federal, state and local laws, rules and emphasis on regulations affecting foreign and domestic banking organizations operating in the US.

Work Experience: Ten years' work experience in Banking Compliance.

Language: Fluent English and Spanish (oral, written and spoken)

Technical Knowledge

• Knowledge of banking operations and compliance regulations.
• Robust understanding BSA/AML/Sanction Regulatory Requirements
• Experience with BSA/AML/Sanction related Software

This is a permanent position located in White Plains, New York. There may be an opportunity to work on a hybrid (3 days in office) basis.

Salary: $105,0000 - $140,000, plus competitive bonus & benefits