OFAC Specialist (TEMP TO PERM)

Banesco USA

4d•Hybrid

About The Position

Banesco USA is seeking a TEMP TO PERM BSA/AML/OFAC Specialist for our OFAC Unit. Responsible for ensuring compliance with federal regulations by reviewing financial transactions and managing sanctions screening. Transaction Monitoring: Specialists review and disposition Fedwire, and SWIFT payments against published sanctions lists such as OFAC SDN bank and/or internal lists. Review and clear all hits on escalated wire transfers, and issuing RFIs to the front line as needed. Ensure the ongoing maintenance of the Internal Blacklists. Performs other functions and/or duties as assigned. Regulatory Updates: Keep abreast of changes in laws and regulations related to OFAC and inform the compliance department accordingly. Quality Assurance: Cooperate in maintaining quality assurance processes related to the Sanctions Compliance Program. System Testing: Test new or updated systems for the Sanctions Compliance Program. Documentation: Cooperate in maintaining all sections of the compliance policies and procedures. Communication: Inform the OFAC Sanctions Manager of any potential regulatory compliance shortfalls within the OFAC program. Assist the OFAC Sanctions Manager in other duties and projects as assigned. Responsible for CTRs: Run and analyze the daily cash transaction report Create CTRs on ECS as it applies and ensure reportable activity is filed within the regulatory timeframe. Responsible for running 314(a) requests on ECS and analyzing the results to determine whether matches need to be reported within the regulatory timeframe. Assist VP, OFAC Sanctions Manager in other duties and projects as assigned. Responsible for completing annual training program assigned.

Requirements

Education: High school degree requires equivalent experience.
Experience: Five (5) years of experience in the Banking industry, preferably in the BSA/Compliance area.
Advance computer skills including but not limited to proficiency in Microsoft Office (Word, Excel, Power Point, etc.)
Must be bilingual in both English and Spanish. Ability to fluently speak, understand, read and write both languages.
Strong verbal and written communication skills, ability to communicate at all levels of the organization.
Strong attention to detail and accuracy.
Ability to multi-task, with strong organization, time-management and prioritizing skills.
Knowledge of BSA/AML standards and practices.
Intermediate knowledge of related State and Federal banking compliance regulations and operational policies.
Ability to work in a team environment ensures deadlines are met.
Ability to understand and comprehend instructions, procedures and policies ensuring compliance with the Bank’s policies and procedures.
Intermediate knowledge in bank’s operation activities, terminology and products and services.

Responsibilities

Responsible for ensuring compliance with federal regulations by reviewing financial transactions and managing sanctions screening.
Transaction Monitoring: Specialists review and disposition Fedwire, and SWIFT payments against published sanctions lists such as OFAC SDN bank and/or internal lists.
Review and clear all hits on escalated wire transfers, and issuing RFIs to the front line as needed.
Ensure the ongoing maintenance of the Internal Blacklists.
Performs other functions and/or duties as assigned.
Regulatory Updates: Keep abreast of changes in laws and regulations related to OFAC and inform the compliance department accordingly.
Quality Assurance: Cooperate in maintaining quality assurance processes related to the Sanctions Compliance Program.
System Testing: Test new or updated systems for the Sanctions Compliance Program.
Documentation: Cooperate in maintaining all sections of the compliance policies and procedures.
Communication: Inform the OFAC Sanctions Manager of any potential regulatory compliance shortfalls within the OFAC program.
Assist the OFAC Sanctions Manager in other duties and projects as assigned.
Responsible for CTRs: Run and analyze the daily cash transaction report
Create CTRs on ECS as it applies and ensure reportable activity is filed within the regulatory timeframe.
Responsible for running 314(a) requests on ECS and analyzing the results to determine whether matches need to be reported within the regulatory timeframe.
Assist VP, OFAC Sanctions Manager in other duties and projects as assigned.
Responsible for completing annual training program assigned.