OFAC Analyst - Valley National Bank
Morristown, NJ 07960
About the Job
Responsibilities include but are not limited to:
* Perform due diligence on OFAC Sanction Screening hits generated from a variety of sources.
* Investigate possible hits and escalate for further review and approval to management.
* Distribute updated OFAC lists to various business units and ensure all searches are performed timely.
* Perform OFAC screening of Bank's customer database when OFAC list is updated.
* Perform annual OFAC screening of Bank's customer database.
* Ensure all new Bank vendors have been OFAC screened by the respective business units and are added to the Bank's customer database for ongoing screening.
* Handle investigations related to real-time wire transfer inquiries related to OFAC.
* Prepare and distribute reports to management regarding blocked and rejected transactions.
* Monitor OFAC website for updates. Create and disseminate OFAC bulletins to the Bank's business lines and ensure appropriate compliance response to any changes to OFAC requirements or new sanctioned parties.
* Participate in ad-hoc projects on an as needed basis.
Required Skills:
* Must have knowledge of OFAC regulations and their practical application in a financial services environment.
* Strong verbal and written communication skills.
* Strong research skills.
* Advanced skills in the use of Microsoft Word, Excel, PowerPoint, Outlook and experience with on-line research systems including web-based tools.
* Strong time management skills.
* Ability to maintain attention to detail and accuracy under pressure situations.
* Team-oriented and able to work independently.
* Ability to prioritize and organize assignments.
Required Experience:
* High School diploma or GED and a minimum of two years in banking operations, AML compliance or OFAC sanctions screening related experience.
* Bachelor's degree preferred.
* ACAMS Certification preferred.
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
* Perform due diligence on OFAC Sanction Screening hits generated from a variety of sources.
* Investigate possible hits and escalate for further review and approval to management.
* Distribute updated OFAC lists to various business units and ensure all searches are performed timely.
* Perform OFAC screening of Bank's customer database when OFAC list is updated.
* Perform annual OFAC screening of Bank's customer database.
* Ensure all new Bank vendors have been OFAC screened by the respective business units and are added to the Bank's customer database for ongoing screening.
* Handle investigations related to real-time wire transfer inquiries related to OFAC.
* Prepare and distribute reports to management regarding blocked and rejected transactions.
* Monitor OFAC website for updates. Create and disseminate OFAC bulletins to the Bank's business lines and ensure appropriate compliance response to any changes to OFAC requirements or new sanctioned parties.
* Participate in ad-hoc projects on an as needed basis.
Required Skills:
* Must have knowledge of OFAC regulations and their practical application in a financial services environment.
* Strong verbal and written communication skills.
* Strong research skills.
* Advanced skills in the use of Microsoft Word, Excel, PowerPoint, Outlook and experience with on-line research systems including web-based tools.
* Strong time management skills.
* Ability to maintain attention to detail and accuracy under pressure situations.
* Team-oriented and able to work independently.
* Ability to prioritize and organize assignments.
Required Experience:
* High School diploma or GED and a minimum of two years in banking operations, AML compliance or OFAC sanctions screening related experience.
* Bachelor's degree preferred.
* ACAMS Certification preferred.
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
Source : Valley National Bank