Legal & Compliance Department-SVP, Deputy Head of US Sanctions Compliance

Bank of China Limited, New York Branch•New York, NY

6d•$150,000 - $280,000

About The Position

The Senior Vice President as deputy will work closely with the SVP, Head of USSC to establish a comprehensive Sanctions Program based upon law and regulations that mitigate compliance, regulatory, and reputational risks associated with violations of sanctions laws.

Requirements

Bachelor's degree required
10 years of work experience in a bank or financial institution in a BSA/AML & OFAC internal control technology capacity preferred
Knowledge of U.S. banking regulations and compliance practice, compliance risk management, and BOC Risk Governance Framework
Knowledge of U.S. banking regulations and compliance practice with strong emphasis on all aspects of BSA, AML and OFAC
Comprehensive knowledge of BSA/AML and OFAC related regulations and ability to implement the banks policies and procedures

Responsibilities

Sanctions Monitoring
Review and analyze Sanctions Alerts and determine whether an investigation is warranted
Lead investigations and/or due diligence reviews where Sanctions issues are present, such letters of credit, customer on-boarding and/or wire transactions and identify associated risks and red-flags
Advise FLUs on sanctions regulations and matters
Identify regulatory Sanctions compliance issues / concerns and propose solutions
Investigate apparent breaches of sanctions regulations and/or compliance standards
Investigate potential Sanctions violations, money laundering and fraudulent financial activity across the bank
Assess Sanctions compliance processes and implement solutions
Perform ad hoc investigations and analysis in support of voluntary disclosures to sanctions and any regulatory enquiries
Assist with coordination of response for internal and external sanctions-related examinations
Review and analyze sanctions inquiries and potential hits for issues and trends and remediate as necessary
Review operational processes and implement improvement opportunities
Sanctions Reports
Conduct periodic quality review of Sanctions data/metrics and update as necessary
Conduct periodic quality review of departmental logs, reports, and deliverables and provide feedback
Prepare presentations, data metrics, summaries, routine and ad-hoc reports