Sanctions Analyst SWIFT/Fircosoft
Pay $35-40hr
Location- Remote
Duration 6 months+
***PST work hours
PRIMARY RESPONSIBILITIES
The job responsibilities are described herein:
1Acts as lead for the process in their department reporting into VP. Ongoing, assists the VP with day-to-day workflow management, performance and management of assigned staff; assistance in the maintenance and enhancement of department processes; and oversight, testing of upgrades to Compliance applications. May include governance, advisory, or QC related tasks.
2Ensures compliance with all regulatory practices outlined by CPAD (Compliance Department) BSA/AML/OFAC and adherence to Bank policies and procedures. Provides management and guidance to assigned team members in scope.
3Provide a first level review and record decision-making on transactions, SWIFT messages, customers and affiliated parties referred for manual review by the bank's automated compliance filters.
4Ensures business continuity under all conditions, sometimes adverse, with strict adherence to established guidelines and deadlines.
5Ensures completion of requests from BSA Officer in relation to conditional approvals or other requirements.
6Maintains ongoing contact with branches.
7Prepares reports and other materials as required in response to inquiries from internal and external auditors, bank departments, and regulators. Provides timely updates of internal bank policy changes, new regulatory compliance requirements, and recommendations from CPAD.
8Ensures maintenance of OFAC sanctions lists and Internal Watchlists utilized by the tool.
9Participates in system testing and implements system upgrades to ensure the integrity of systems and processes for transaction monitoring.
10Maintain oversight on movement of funds into and out of hold over account for suspended funds cases
11Support timely record keeping for cases opened for investigation
CRITICAL JOB KNOWLEDGE AND CORE COMPETENCIES/SKILLS
Thorough understanding of legal aspects and recordkeeping requirements of banking regulations relating to money transfer (especially OFAC, AML, BSA, USA PATRIOT Act).
Strong knowledge of market practices related to foreign and domestic money transfers;
Strong knowledge of OFAC regulations and Sanctions
Strong level knowledge of banking policies, statutory and compliance regulations.
Strong knowledge of accounting principals and practices.
Ability to interpret changes in the regulatory framework and implement in investigative review of stopped payments and customer relationships.
Knowledge of SWIFT / Payment Message Types / RMA operations.
Strong sense of urgency, accuracy and accountability; responsive to time sensitive needs.
Strong management skills; decision making, influencing and delegation skills; works independently.
Strong analytical, presentation and communication skills.
Previous sanctions screening experience preferred
Ability to work under pressure and with tight deadlines
Requirements
Work Experience: 5-7 years of experience within Financial Services, Compliance, Payment Systems
Education: BA/BS required
Licenses: CAMS
Software Systems: SWIFT preferred. FircoSoft preferred