Previous Job
OFAC Officer
Ref No.: 17-02912
Location: New York, New York
Position Type:Full Time
Pay Rate : $ 150,000.00 - 175,000.00 /Year
Job Purpose:
The primary focus of the position is to manage and maintain all aspects of the Branch's OFAC program in accordance with applicable laws and regulations and the Bank's policies and procedures. Extensive knowledge related to Correspondent Banking, US Dollar Clearing Operations and/or Trade Finance risks or proven ability to quickly understand these risks is required.

Overall, on a day to day basis, the Branch's OFAC Officer reviews and analyzes OFAC inquiries and potential hits to either clear them or request a second level review; specifically, the OFAC Officer is expected to:
* Review and analyze FinCEN 314(a) inquiries and potential hits.
* Ensure that the OFAC filter is sufficiently and effectively functional to detect high risk transactions.
* Update and maintain policies and procedures for the Sanctions program.
* Draft Suspicious Activity Reports for review.
* Work with the Head of Compliance and Senior Compliance Officer to support the compliance program of the Branch.

Knowledge & Experience Requirements:
* B.A. degree supplemented by appropriate special training in OFAC Compliance and Patriot Act.
* 3+ years of experience in a similar role (experience with international bank is preferred).
* Experience with BSA/AML/OFAC software and vendor selection.
* Successful completion of at least two outside OFAC/Sanctions training seminars each year preferred.
* Former experience with regulatory agency is a "plus.”
Capability Requirements:
* Proven experience in working in a team environment and seen as a strong team player.