OFAC Sanctions Compliance Specialist (Remote) - Synovus

Job Summary

This position requires analytical skills to analyze complex data and regulations, attention to detail and precision in reviewing and interpreting sanctions regulations. Understanding of global sanctions regimes such as OFAC, EU and UN sanctions. Responsible for completing various sanctions processes to ensure violations to sanctions regulations are not present.

Job Duties and Responsibilities

The information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.

* Responsible for performing Sanctions Due Diligence in reviewing wires to/from OFAC sanctioned countries including World Check searches, to determine counterparty sanctions status, beneficial ownership, OFAC 50% rule, PEP ownership and status, purpose of the wire, shell companies, business industry of customers and counterparties, sanctions country or program review, sanctions violations and evasions. On a monthly basis, review blocked property to ensure compliance with OFAC regulations.

* Manage OFAC updates and changes to include system review to ensure updates are posted, testing of updated names in systems, updating the OFAC Update System Management log, and reporting to management

* Completes report to management and LOB leadership as necessary regarding wires that are a heightened business risk or violation of OFAC sanctions

* Responsible for Alert program coordination to include ensuring alerts are reviewed for the GreenSky and Credit Card process; and ensuring alerts are reviewed for online account origination customers

* Uploads letters of credit, international collections, vendors and team members into the sanctions system for screening

* Attends meetings and webinars to increase knowledge of OFAC sanctions . Stays abreast of changing sanctions and communicates efficiencies and enhancements to the OFAC Compliance Program.

* Responsible for administration of the 314(a)and Law Enforcement Requests / HIFCA and HIDTA Geographic Risk functions which includes receiving new lists from FinCEN, uploading into monitoring system and completing alerts; ensuring a case is created in monitoring system and escalated to the Financial Intelligence Unit; Completing law enforcement and subpoena functions to include communication with law enforcement, documenting, and providing documentation to law enforcement and ensuring law enforcement reporting to Financial Intelligence Unit.

* Handles and maintains all department logs with accuracy and integrity; Updates HIFCA and HIDTA locations; and prepares presentations and metrics for management as necessary.

* Responsible for the CIP Monitoring and CIP Reliance Participations and Syndications and completes the daily functions of CIP monitoring, including exceptions. Works directly with front line to clear or extend closure and on account closures based on CIP exceptions. Maintains documentation of the CIP Monitoring System and changes and is responsible for metric reporting and presentations to support the process. Responsible for the monthly review of Participation/Syndication loans and is the liaison with lead banks to obtain AML Certification/Attestation/Program to support the CIP reliance agreement.

* Participate in audits and exams by providing requested documentation within prescribed timeframes and is responsible for reviews and updating desktop procedures as required.

* Each team member is expected to be aware of risk within their functional area. This includes observing all policies, procedures, laws, regulations and risk limits specific to their role. Additionally, they should raise and report known or suspected violations to the appropriate Company authority in a timely fashion.

* Performs other related duties as required.

Synovus is an Equal Opportunity Employer supporting diversity in the workplace

Minimum Education:

* Bachelor's degree in Business Administration or related field; or an equivalent combination of education and experience.

Minimum Experience:

* Three (3) years of job specific experience.

Certifications:

Required Knowledge, Skills, & Abilities:

* Thorough knowledge of BSA/AML/OFAC laws and regulations

* Thorough knowledge of policies and procedures

* Ability to remain current on specific job functions through training, webinars, reports, blogs, newsletters, etc.

* Experience in reviewing suspicious activity, and/or OFAC sanctions risk

* Experience in interpreting OFAC sanction country risk

* Proficient in Word, Excel, PowerPoint, Adobe and automated monitoring systems

Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled