OFAC Operations Associate

  • Competitive
  • New York, NY, États-Unis
  • CDI, Plein-temps
  • Bank of China USA
  • 15 nov. 17 2017-11-15

The incumbent will prevent exposure to regulatory penalties and reputation risk. S/he will be screening for and/or investigation of transactions that may involve OFAC sanctioned countries/entities and OFAC Specially Designation Nationals, which may result in blocking, rejecting, returning, or holding the transactions dependent on results of enhanced due diligence.

Job Title

OFAC Operations Associate

Job Description

The incumbent will prevent exposure to regulatory penalties and reputation risk. S/he will be screening for and/or investigation of transactions that may involve OFAC sanctioned countries/entities and OFAC Specially Designation Nationals, which may result in blocking, rejecting, returning, or holding the transactions dependent on results of enhanced due diligence.

Job Responsibilities

Funds Transfer Screening

  • Scrutinize the entire wire transfer for OFAC related parties and activities
  • Open investigations where necessary if information is insufficient

Transaction Investigation

  • Timely review of replies to requested information from correspondent banks using various search tools
  • Investigate payments that were return/reject/block funds by other banks and determine if a voluntary disclosure is necessary

OFAC Regulations

  • Regular review or updated and current applicable OFAC regulations through personal initiative and training provided by BOC
  • Prepare OFAC reports when payments are subject to OFAC sanctions
  • Maintain communication with OFAC for sanctions guidance
  • Keep up to date on OFAC updates and recent actions

Job Requirements

  • Bachelor’s Degree required
  • 2 Years’ Specialized OFAC experience required (Sanctions Screening & Investigations)
  • CAMS certification preferred
  • Banking experience required