A large banking client is looking for an OFAC Analyst to join the Compliance organization. The OFAC Analyst will perform, review and verify hits related to OFAC and other lists and to ensure compliance with OFAC sanctions.
Responsibilities include but are not limited to:
- Perform due diligence on OFAC Sanction Screening hits generated from a variety of sources.
- Investigate possible hits and escalate for further review and approval to management.
- Distribute updated OFAC lists to various business units and ensure all searches are performed timely.
- Perform OFAC screening of Bank's customer database when OFAC list is updated. Perform annual OFAC screening of Bank's customer database.
- Ensure all new Bank vendors have been OFAC screened by the respective business units and are added to the Bank's customer database for ongoing screening.
- Handle investigations related to real-time wire transfer inquiries related to OFAC.
- Prepare and distribute reports to management regarding blocked and rejected transactions.
- Monitor OFAC website for updates.
- Create and disseminate OFAC bulletins to the Bank's business lines and ensure appropriate compliance response to any changes to OFAC requirements or new sanctioned parties.
- Participate in ad-hoc projects on an as needed basis.
This role will go on site 2-3 days a week.
This candidate will need to have a flexible schedule for various shifts week by week.
- Must have knowledge of OFAC regulations and their practical application in a financial services environment.
- Experience with Prime or Actimize
- Experience with commercial banking and international payments
Benefit packages for this role will start on the 31st day of employment and include medical, dental, and vision insurance, as well as HSA, FSA, and DCFSA account options, and 401k retirement account access with employer matching. Employees in this role are also entitled to paid sick leave and/or other paid time off as provided by applicable law.