OFAC Analyst

Role Overview

• Review, investigate, and disposition OFAC, PEP, OB, and FinCEN 314(a) alerts generated by the Bank’s screening systems, determining whether to clear or escalate cases to the OFAC Manager.
• Conduct detailed investigations using internal systems (KYC, core banking platforms) and external sources, including internet research and World-Check, to resolve customer and transaction screening alerts.
• Review alerts related to new account openings, customer profile updates, and ongoing monitoring activity to ensure accurate risk assessment.
• Analyze bi-monthly FinCEN 314(a) lists for potential matches and document findings in accordance with regulatory standards.
• Prepare complete case documentation by annotating decisions and attaching supporting evidence within the OFAC monitoring system.
• Create and maintain system files for confirmed or potential OFAC matches requiring escalation.
• Support internal business units, including Retail Banking, Lending, Commercial Real Estate, International, Wire Transfers, and Wealth Management—by performing enhanced OFAC and PEP research and verifications.
• Communicate with account officers to obtain additional customer or non-customer identifying information when required.
• Update and maintain the Bank’s charge-off and internal watch lists within the OFAC system, as requested by Special Assets and Regulatory Risk Management.
• Assist with updates to departmental policies and procedures and participate in team meetings, special projects, and other assigned compliance initiatives.

Requirements

• Associates Degree in Business Administration or Criminal Justice
• 2+ years experience with BSA/AML or OFAC/Sanctions Compliance in the banking industry.
• Must be able to work with tight deadlines.
• Combination of education and experience will be considered.
• Strong knowledge of U.S. sanctions laws and regulations, particularly licensing requirements, and the programs related to high-risk jurisdictions (e.g., Russia, Iran, Venezuela, Cuba).
• Must be able to understand and implement job related policies and procedures.
• Strong analytical and investigative skills.
• Must possess good organizational, interpersonal, time management, written and verbal communication skills.
• Computer proficiency in MS Software (e.g. Excel, Word, and Outlook).

Benefits

• None specified