Sanctions Specialist

Sanctions Specialist Location Florida : ABOUT THE ORGANIZATION SMBC MANUBANK was formed by a group of banking entrepreneurs in June 1962. Our scope is to serve the specialized needs of California middle-market businesses, manufacturers, wholesalers, distributors, importers, exporters, and service companies, including small businesses and professionals. The anticipated salary range for this role is between $80,000.00 and $132,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees. Our mission is to be "the bank of choice" for middle market and professional service companies by establishing long term customer relationships and loyalty, providing superior products and services through a core of highly skilled and seasoned bankers. To achieve our mission to be the 'bank of choice' for middle market and professional services companies, we are focused on our vision to be the premier California regional business bank that can provide the sophistication and expertise of a larger institution with the personal 'high touch' services of a smaller bank. Specialties: Commercial Loans and Lines of Credit, Asset-Based Financing, SBA Loans, and Specialized Financing, Real Estate Loans, Cash Management Services, International Services JOB SUMMARY: Within the Financial Crimes and Compliance Unit, ("FCC"), the Sanctions Compliance Team is responsible for the review of alerts in transaction and customer screening. The Sanctions Associate helps to lead the team on behalf of the Head of Sanctions. Associates have the responsibility for overseeing the process and providing coaching and guidance to the team. Associates may be involved in performing assignments in the absence of the Head of Sanctions and ensure compliance of all transaction examination activities in accordance with regulatory requirements Bank Secrecy Act/Anti Money Laundering/Office of Foreign Assets Control (BSA/AML/OFAC), SMBC policies and procedures. Under the direction of the Head of Sanctions, the Sanctions Associate will aid in maintaining Sanctions Compliance for Jenius Bank. The Sanctions Associate has responsibilities for overseeing the process under the Head of Sanctions remit including drafting reports to the applicable sanctions regulators, regulatory change management, and giving advice to multiple different business units. The Sanctions Associate may be involved in performing assignments in the absence of the Head of Sanctions and ensures compliance in accordance with regulatory requirements Bank Secrecy Act/Anti Money Laundering/Office of Foreign Assets Control (BSA/AML/OFAC), MB policies and procedures. The Sanctions Associate follows established guidelines to identify and resolve problems and proactively recommends solutions to improve processes where guidelines may not have been developed. The Sanctions Associate acts as an SME for department and across other functions, and as an independent contributor or as part of a larger team. The Sanctions Associate is expected to contribute to workflow, process changes and redesign as warranted. The Sanctions Associate is required to form a strong understanding of US sanctions related rules and regulations and manage analysts that perform the day-to-day work of other teams within the Sanctions Compliance team function. This position may support filter and list management by engaging in projects related to effectively update, tune and optimize the sanctions filtering system. The Sanctions Associate must possess solid business acumen, natural curiosity, and the ability to effectively shift between communications styles based on the audience. PRINCIPLE DUTIES & RESPONSIBILITIES: Provides subject matter expertise and timely guidance about sanctions matters to stakeholders both within the branch and to other affiliates as necessary under the oversight of the Head of Sanctions. Acts as a lead for the process in the Sanctions Department reporting to the Head of Sanctions, with day-to-day workflow management, performance and management of assigned staff; maintains and enhances department processes and tasks. Ensures compliance with all regulatory practices outlined by Compliance Department of Americas Division (CPAD), BSA/AML/OFAC and with Bank policies and procedures. Provides management and guidance to assigned team members in scope for regulatory change management process. Performs due diligence on alerted transactions escalated by Level 1 and Level 2 teams. Records decision-making on different escalations which can includes but not limited to requests from different SMBC business units, and transactional or customers and affiliated parties related alerts. Supports completion of requests from BSA/AML/OFAC Compliance Officer in relation to conditional approvals or other requirements. Assists with preparing overview of significant regulatory changes. Assists with preparing reports and other materials as required in response to inquiries from internal and external auditors, bank departments, and regulators. Provides timely updates of internal bank policy changes, new regulatory compliance requirements, and makes recommendations for the Sanctions Compliance team. Assists with preparing OFAC reject/block reports and participates in submission of the Annual Report of Blocked Property. Performs additional, targeted research on certain parties to determine a sanctions nexus, make recommendations or take steps to propose watchlist entries to benefit screening controls. Ensures business continuity under all conditions, sometimes adverse, with strict adherence to established guidelines and deadlines. Maintains ongoing contact with branches and compliance counterparts throughout the enterprise. POSITION SPECIFICATIONS: Education: Required: BA / BS (or equivalent experience) Preferred: MBA / JD (or equivalent experience) Work Experience: 5 to 7 years of specialized experience in Financial Services Compliance, Payment System or Money Transfer preferred Licenses / Certifications / Registrations: CAMS/CGSS preferred Language Skills: Business fluency in the following language(s): English Software Systems / Programming Languages: SWIFT preferred. Skills & Qualifications: Thorough understanding of legal aspects and recordkeeping requirements of banking regulations (especially OFAC, AML, BSA, USA PATRIOT Act) relating to money transfer. Strong knowledge of market practices related to foreign and domestic money transfers; knowledge of OFAC. Strong level knowledge of banking policies, statutory and compliance regulations. Strong knowledge of accounting principles and practices. Expertise and experience in US sanctions laws and regulations. Experience in using industry standard sanctions screening tools. Experience in reviews, investigation, and resolution of sanctioned related issues. Strong sense of urgency, accuracy, and accountability; responsive to time sensitive needs. Strong management skills: decision making, influencing and delegation skills, and ability to work independently. Strong analytical, presentation and communication skills, and ability to work collaboratively with all levels of company personnel. Knowledge of AML, KYC and FinCEN a definite plus. EOE STATEMENT We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. CCPA DISCLOSURE Personal Information Collection Notice: This notice contains information under the California Consumer Privacy Act (CCPA) about the categories of personal information (PI) of California residents that SMBC MANUBANK collects and the business or commercial purpose(s) for which the PI may be used. We do not sell PI. More information about our collection and use of PI may be found in our CCPA Privacy Policy at Persons with disabilities may contact our Customer Contact Center toll-free at (877) 560-9812 to request the information in this Notice in an alternative format.