Job Ref: 14377
Salary: $80000 – $100000
The candidate will report to the OFAC Officer and is responsible for monitoring and assessing compliance risks on a daily basis.
ESSENTIAL FUNCTIONS & ACCOUNTABILITIES:
- Review cases in the Transaction Monitoring System (TMS) matches against negative lists such as OFAC.
- Review alerts/cases generated by the TMS when rule thresholds are crossed or when questionable activity referrals are received.
- Conduct investigations on alerts/cases that bear indicia of money laundering and related risks or those that may be a match on negative lists. This includes issuance of requests for information.
- Prepare internal and external reports including SARs in accordance with internal policies.
- Review adverse news database and update the log.
- Prepare and update profiles in the TMS on customers, transaction counterparties, beneficial owners and other affiliated persons/entities in line with internal guidelines.
- Assist the Compliance Manager or the Head of Compliance with preparation of risk assessments, etc.
- Verify/test that changes made to negative lists are successfully uploaded to the TMS.
- Assist the Compliance department in other activities and projects from time to time.
- Serve as back-up to Compliance team members during absences. Cross-functional training will be provided prior to assigning such tasks.
- Minimum of 4 years of relevant experience.
- Minimum of 4 years of experience using automated transaction monitoring systems.
- Knowledge of regulations such as the Bank Secrecy Act (including the USA PATRIOT Act), OFAC sanctions programs, etc.
- Detail-oriented individual with ability to conduct in-depth research and possess strong communication skills.
- Must be able to demonstrate strong writing capabilities.
- Ability to work in a team environment, as well as independently.
- Must be well-organized and capable of performing multiple tasks simultaneously.
- Ability to prioritize and use sound judgment.
- Excellent ability to work independently as well as part of a team.
Education & Qualifications:
- Bachelor’s degree required.
- ACAMS certification is required.
- Familiarity with TMS; preferably, Prime Compliance Suite.
- Strong working knowledge of Microsoft Word, Excel, Power Point; Lexis-Nexis,
- World-Check, Bankers Almanac, etc.
- Strong internet search capabilities.
Dependent on experience and skill