CFSB · 20 hours ago
Senior Associate, OFAC Senior Analyst I
New York, NY
Full-time
Onsite
Mid, Senior Level
$85K/yr - $110K/yr
4+ years expCFSB is a full-service payments, lending and banking provider that delivers global financial services through a personal approach. They are seeking a Senior Associate, Office of Foreign Assets Control (OFAC) Senior Analyst I who will analyze OFAC alerts related to various banking services and ensure compliance with OFAC sanctions and regulations. The role involves investigating sanctions screening alerts, documenting findings, and collaborating with other departments to resolve issues.
BankingCommunitiesFinancial ServicesLending
Responsibilities
Investigate escalations of sanctions screening of real-time and post-transactional alerts in the Bank’s automated sanctions screening solution for potential violations of OFAC and other governmental sanctions. Investigate potential matches and true positive hits; escalate for further review and approval as required by procedure
Ability to assist in ancillary duties to ensure efficient identification and monitoring of sanctioned entities, including case tracking and assisting with quality control reviewing
Conduct investigations to ensure that the OFAC work is handled in accordance with defined procedures that meet standards for both quality and timeliness
Review daily manual reports for OFAC screening, documenting the reviews and reporting findings to management as necessary
Review potential customer name matches and escalations from the bi-weekly Financial Crimes Enforcement Network’s (FinCEN’s) 314(a) list
Succinctly and clearly summarize potential match escalations (including conducting additional research) accordingly and thoroughly document the resolution
Interact with other departments/lines of business on resolution of issues (e.g., Operations Department, CFSB clients)
Stay abreast of regulatory changes and AML related news, with an emphasis on OFAC sanctions-related developments. Ensure timely completion of all mandatory training requirements
Effectively utilize and operate all tools and technology appropriate to the role
Identify potential strategic process improvements and assist with implementation
Assist other teams within Compliance on workflow and project when needed
Qualification
Required
4 to 6 years of banking and OFAC sanctions screening experience
High degree of professionalism and integrity
Solid understanding of OFAC sanctions, Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) regulations
Ability to investigate escalations of sanctions screening of real-time and post-transactional alerts
Ability to assist in ancillary duties to ensure efficient identification and monitoring of sanctioned entities
Conduct investigations to ensure that the OFAC work is handled in accordance with defined procedures
Review daily manual reports for OFAC screening, documenting the reviews and reporting findings to management
Review potential customer name matches and escalations from the bi-weekly Financial Crimes Enforcement Network's (FinCEN's) 314(a) list
Succinctly and clearly summarize potential match escalations and thoroughly document the resolution
Interact with other departments/lines of business on resolution of issues
Stay abreast of regulatory changes and AML related news
Effectively utilize and operate all tools and technology appropriate to the role
Identify potential strategic process improvements and assist with implementation
Assist other teams within Compliance on workflow and project when needed
Demonstrable knowledge of enterprise systems, network, security, and software administration and engineering within a hybrid cloud environment
Experience with OFAC sanction screening of various customer types
Expert level ability to obtain necessary information to classify an escalated OFAC hit as a 'match' or 'not a match'
Strong research, analysis, communication, writing, and follow-up skills
Ability to liaise between internal business lines and external vendors and clients
Ability to work dependably and consistently under time constraints
In-depth understanding of compliance and BSA/AML/OFAC regulatory requirements and implications
Proficiency in standard Microsoft Suite programs
Bachelor's degree or evidence of directly related experience to the role
Minimum of 4 to 6 years in an OFAC screening-specific role
Preferred
Experience with CGI HotScan's sanctions screening solution
CAMS certification a plus (may be in-process at time of hire within specified timeframe of completion)
Master's degree a plus
Company
CFSB
Founded in 2001, CFSB is a full-service payments, lending and banking provider that delivers global financial services through a personal approach.
51-200 employees
Funding
Current Stage
Growth StageLeadership Team
Estee Stern
SVP, Chief Information Officer and Chief Technology Officer
Nick Grove
SVP, Chief Compliance Officer / BSA Officer
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