OFAC Policy, Communication and Training AVP

  • commensurate with experience
  • New York, NY, USA
  • Permanent, Full time
  • Non-disclosed
  • 20 Nov 17 2017-11-20

Contribute to OFAC team regarding policy establishment, communication and training

  • Under VP’s instruction, assist to establish a comprehensive policy, based upon law and regulations that mitigate compliance, regulatory, and reputational risks associated with violations of sanctions laws and the risk of conducting business with a sanctioned entity.
  1. Clearly Define Roles, Responsibilities, and Authorities.
  2. Our bank’s commitment to comply with Target and Country sanctions regimes,
  3. Define interdiction software and list management.
  4. Establish Customer standards and approvals.
  5. Establish Customer tolerance levels for customers conducting Business indirectly or directly in sanctioned countries.
  6. Application Validation standards.
  7. Establish escalation and management routines.
  8. Establish Information sharing rules.
  9. Establish algorithm standards.
  10. Establish policy and procedure breach routines.
  11. Reporting and information sharing with Law enforcement.
  12. Define program element ownership.
  13. Define a waiver process.
  • Assist to ensure effective awareness a global enterprise communication email process will be established to communicate sanction program changes.
  • Assist to establish general and targeted training programs. (Training to be given by existing staff complimented by the sanctions organization.)
  • Assist to update training material when sanction programs change.
  • Help facilitate briefing sessions with Line of Business and senior management of significant changes.
  • Help to establish and coordinate monthly Sanctions Governance meetings.

Reports to Superiors

  • Communicate with management, Chief BSA Officer, Sanctions Head and Deputy regarding OFAC sanction and compliance work.

Requirements:

  • 3-5 years banking industry and BSA/AML & OFAC internal control.
  • CAMS preferred.
  • Business acumen; communication skill, creative problem solving; leadership and management; analytical skill; writing skill; technical skill; project management; relationship management; team work; planning and organizing; coaching.
  • Knowledge of Sanction policy and OFAC, knowledge of U.S. Banking regulations and compliance practice, compliance risk management
  • General Skills: Business acumen; communication skill, creative problem solving skill; leadership and management skill; analytical skill; writing skill; technical skill; project management skill; relationship management skill; team work; planning and organizing skill; coaching skill.
  • General Knowledge: Knowledge of Sanction policy and OFAC, knowledge of U.S. Banking regulations and compliance practices, as well as knowledge of compliance risk management.
  • Specialty Knowledge: Knowledge of U.S. Banking regulations and compliance practice with strong emphasis on all aspects of BSA, AML and OFAC. Comprehensive knowledge of BSA/AML and OFAC related regulations and ability to implement the banks policies and procedures.