As Head of OFAC Compliance for the Americas. The Candidate will manage all aspects of OFAC and Sanctions Compliance for all business lines, including an expansive USD funds transfer business.
- Lead OFAC Compliance Program for the Americas Region.
- Manage staff in day-to-day operation of OFAC responsibilities, particularly related to the funds transfer business.
- Lead investigations and/or due diligence reviews where OFAC issues are present, such as in connection with relevant client adoptions or investment banking transactions
- Handle OFAC issues arising out AML transaction monitoring, Section 314(b) Information Sharing, or inquiries from government agencies,
- Manage response to subpoenas or other document requests from law enforcement or regulatory agencies as they relate to OFAC.
- Meet with regulatory authorities as warranted.
- Prepare and distribute reports to OFAC regarding blocked and rejected transactions. Prepare the Bank’s OFAC Annual Report.
- Monitor OFAC Website for updates. Create and disseminate OFAC bulletins to the US business lines and ensure appropriate compliance response to any changes to OFAC requirements or new sanctioned parties.
- Monitor Department of Commerce Website for updates to the Denied Person’s List. Disseminate these updates to the US business lines and ensure appropriate compliance.
- Develop categories of appropriate Management Information regarding the OFAC Program, and ensure completion of same for Senior Compliance and Business Management.
- B.A/B.S. is required. Advanced degrees are a plus.
- Must have extensive subject matter knowledge of OFAC regulations and their practical application in a financial services environment.
- Must have a strong knowledge of the other prominent Sanctions programs, such as the EU and UN programs.
- Must have sound management skills and experience.
- Must have solid experience working in a large, complex organization, ideally related to financial services.
- Must have experience dealing directly with regulatory and/or law enforcement agencies.