What are the responsibilities and job description for the OFAC Manager position at Partnership Employment?
Responsibilities:
- Develop specialized knowledge of all BSA, USA Patriot Act and OFAC compliance requirements
- Develop, implement, and maintain the Bank’s OFAC compliance program, including policies, procedures, and internal controls.
- Oversee customer, transaction, and vendor screening systems to ensure timely and accurate OFAC screening.
- Review, investigate, and disposition OFAC or PEP alerts, including potential matches and true hits.
- Ensure blocked and rejected transactions are handled, reported, and maintained in accordance with regulatory requirements.
- Develop and deliver OFAC training program for employees, tailored to job functions and risk exposure
- Provide guidance to frontline staff, operations, and compliance team on sanctions-related matters.
- Support internal audits, compliance testing, and independent reviews of the OFAC Program
- Has primary responsibility for the Bank’s OFAC system, including sanctions screening systems/lists.
- Conduct periodic risk assessments to identify sanctions exposure across business lines, products, and customers.
- Maintain records of all required BSA documentation within regulatory and Bank retention guidelines.
- Assist with preparation of regulatory examination materials as needed
Salary : $100,000 - $115,000