VP OFAC/Sanctions Manager

VP OFAC/Sanction


To ensure that all? the Banks BSA Department units understand and comply with the Bank's OFAC / Sanctions policies and procedures. Assist the Bank's BSA Officer, Head of Financial Crimes Compliance ('FCC') in ensuring compliance with the Bank's overall OFAC / Sanctions Compliance Program and work with key stakeholders to address potential issues as they arise. Work with BSA Department unit managers and business and support units across the Bank to ensure that units are operating in an efficient manner and recommend process changes as appropriate. Promote a strong culture of BSA / AML and OFAC / Sanctions compliance across the bank.


  • Serving as a subject matter expert ('SME') advisor to business unit managers across a wide-spectrum of products, services and transactions to ensure compliance with the Bank's overall OFAC / Sanctions Compliance Program.

  • Maintaining a high degree of relevant knowledge with respect to OFAC / Sanctions laws and regulations. This includes monitoring new and proposed OFAC / Sanctions-related legislation, regulatory -requirements, key enforcement actions, key trends, emerging issues and distributing regulatory updates to BSA units, business unit managers and governance committees as directed by the BSA Officer.

  • Designing and maintaining best-in-class OFAC / Sanctions policies and procedures to identify, detect and mitigate OFAC / sanctions risk. This will include establishment of testing processes to monitor and measure OFAC / Sanctions risks in the first line of defense and within BSA sub units.

  • Reviewing and enhancing OFAC / Sanctions control processes such as customer screening at onboarding, batch screening, transaction screening, alert disposition and escalation, investigations, list management, configuration testing, change management and root cause analysis for any program breaches.

  • Developing strong relationships with key stakeholders across the Bank to enhance screening procedures and processes.

  • Preparing Management Information (''MI') reports containing key metrics, trends, risks and detailed descriptions for review by the BSA Officer and governance committees.

  • Completing and/or assisting in the completion of the annual OFAC / Sanctions risk assessment and developing action plans to address any resulting recommendations.

  • Providing timely responses to information OFAC / Sanctions information requests from the Bank's primary regulators the Federal Deposit Insurance Corporation (FDIC) and the New York State Department of Financial Services (NYSDFS), under the direction of the BSA Officer.

  • Providing timely responses to information OFAC / Sanctions information requests from the Bank's internal Auditors and model risk management, under the direction of the BSA Officer.

  • Developing, maintaining, tracking and managing corrective action plans related to OFAC/Sanctions regulatory examination finding, internal audit findings and model validation reviews.

  • Collaborating on the development of strategic projects and priorities that may affect the overall OFAC/Sanctions program at the Bank.


  • Applying independent judgment in the identification and escalation of key OFAC/Sanctions risks.

  • Displaying a high level of professional aptitude and standards.

  • Recommending improvements to process in areas of efficiency, control and work product.

  • Participating in committee meetings as necessary.

  • Ad-hoc and project support responsibilities, as required.


  • BA/BS degree is required and a professional certification preferred (i.e., CAMS certification must be obtained within 9 months of hire).

  • 7+ years of significant experience in banking compliance, with a strong emphasis on OFAC/Sanctions regulations and requirements.

  • Excellent researching and time management skills with strong focus on attention to detail.

  • Excellent verbal, written, problem solving and interpersonal communication skills.

  • A team player able to work effectively in a team-fostered, multi-tasking environment.


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