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Senior OFAC Analyst
Ref No.: 18-02091
Location: New York City, New York
Position Type:Full Time
Pay Rate : $ 120,000.00 - 130,000.00 /Year
An investment bank is looking for an OFAC specialist. The OFAC Sr. Compliance Analyst works closely with the Sanctions Manager and another Analyst on the Sanctions Advisory Team to implement global sanctions compliance program and provide SME advice on OFAC sanctions to the lines of business and other stakeholders. The Sr. Sanctions Analyst works along with the Sanctions Manager in performing Sanctions Advisory's key responsibilities in a timely manner and developing enhancements to related processes and procedures. The Sr. Sanctions Analyst is expected to work independently or with minimal oversight, and interact closely with colleagues in Legal, Compliance, and other areas of the Firm on various sanctions-related matters.
If you are looking to push your career to the next level, introduce yourself by submitting your resume.
Key responsibilities include:
  • Draft and update Global Sanctions Policy and the Sanctions Advisory procedures to ensure compliance with OFAC/sanctions filtering and reporting requirements
Provide SME support and timely advice on the application of OFAC economic sanctions to the lines of business and other stakeholders. Serve as escalation point for sanctions screening alerts that cannot be readily resolved by the sanctions screening unit
  • Ensure regulatory adherence to various sanctions programs and work with the lines of business to identify control gaps and/or implement remediation
  • Conduct enhanced sanctions due diligence on higher-risk clients
  • Draft OFAC communications, such as blocked property reports, Annual Blocked Property Reports, and Voluntary Self-Disclosures, for review and filing
  • Ensure blocked assets are properly coded within internal systems and tracked
  • Maintain the Sanctions Advisory procedures and records
  • Liaise with Office of General Counsel, Compliance colleagues, and other stakeholders on sanctions matters, as appropriate
  • Investigate potential sanctions violations by liaising with relevant lines of business
  • Develop and deliver on-going targeted sanctions training to the lines of business
  • Stay abreast of regulatory changes and laws, with emphasis on OFAC, drafts communications of OFAC updates for review by Sanctions Manager and disseminate to compliance colleagues

  • Bachelor's degree
  • 5+ years of experience in OFAC Sanctions Compliance
  • Experience in a financial institution and/or equivalent industry
  • Knowledge of the OFAC sanctions regime and its application to banks strongly preferred
  • Practical knowledge of anti-money laundering laws
  • Strong organizational skills
  • Strong analytical and communication (oral and written) skills
  • Strong investigative and administrative ability
  • Strong Excel and PowerPoint skills
What We Offer:
  • A collaborative environment that enables you to step outside your role to add value wherever you can
  • Direct access to clients, information and experts across all business areas around the world
  • Opportunities to grow your expertise, take on new challenges, and reinvent yourself - within the Firm
  • A culture of inclusion that values each employee's unique perspective