Job Description

General Summary:

Perform daily management responsibilities in complying with the NY Branch’s Sanctions/ Watch lists and OFAC Program (“OFAC”). Direct a team of BSA/OFAC Compliance professionals who have responsibility for the functions associated with OFAC compliance; ensures functions are performed accurately, thoroughly and in accordance with the timeframes required by the regulators. Maintain current knowledge of regulations and compliance requirements of financial institutions, and act as US Sanctions subject matter expert.

Primary Duties and Responsibilities:

Manage the NY Branch Sanctions team in all aspects of the OFAC compliance program, including the timely completion of sanctions related alert and case reviews.
Lead efforts for the NY Branch's adherence to OFAC and its implementing regulations.
Update sanctions related procedures and processes whenever warranted to ensure robust compliance with new and existing requirements.

Help drive the OFAC compliance program by ensuring that employees adhere to the branch's OFAC policies, procedures and processes, and administer sanctions related training when warranted.
Ensure that the branch maintains an effective OFAC internal control structure, including OFAC-related transaction monitoring and regulatory reporting, as well as periodic risk based quality assurance and control.
Regularly reporting ongoing key matters and risks to the Director of Branch BSA/ AML and Sanctions Compliance.
Ensure the timely filing of OFAC reports for rejected or blocked transactions in accordance with OFAC reporting requirements, and lead any other sanctions-related regulatory reporting.
Create and administer tools, dashboards, and processes to ensure full compliance with the Sanctions Program.
Monitoring of all regulatory OFAC changes, ensuring communication of new requirements and assisting the business and infrastructure areas in creating/revising policy and process to meet new requirements. This includes participation in discussions with global sanctions counterparts, external industry counterparts, as well as
Partner closely with businesses and Compliance counterparts worldwide to understand issues, to process accordingly and provide opinions towards resolution with industry and regulatory bodies related to sanctions compliance best practices.
Maintain statistics and other information necessary to ensure that the OFAC compliance department has adequate information to report to Senior Management regarding the adequacy and effectiveness of the Branch’s written OFAC program and procedures and the actual implementation of the OFAC program.
Coordinate sanctions-related activities with colleagues in the Spain.
Coordinate with and serve as point-of-contact for audits and regulatory examinations of the sanctions compliance program
Ensure that appropriate personnel are trained in applicable aspects of OFAC.

Qualifications:

Bachelor’s degree or equivalent professional experience.
6+ years previous working experience within OFAC Compliance function.
CAMS certification required or the ability to complete within 90 days.
Certified Global Sanctions Specialist Certification (CGSS) highly preferred
Experience leading in OFAC Sanctions Advisory or Operations teams, including direct experience in reviewing and assessing OFAC sanctions-related scenarios
Strong PC and data skills, strong analytical abilities, effective organizational skills and knowledge of various sanctions filtering systems are highly preferred
Fully knowledgeable of OFAC regulations, as well as DFS 504 regulatory requirements
Must be detail oriented and able to work under pressure with multiple deadlines.
Previous Managerial/Supervisory experience preferred.
Spanish language skills are a plus