Legal & Compliance Department-Sanctions Operations (SO) AVP
New York
Introduction:
Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.
Overview:
The Sanctions Operations Assistant Vice President supports continuous monitoring and transaction review by providing guidance and identifying solutions to business challenges arising in the course of managing sanctions-related risks for real-time transactions.The Sanctions Operations Assistant Vice President supports the Vice President of Sanctions Operations in preparing KPI reporting, USSC communications, and communications to Sanctions Operations team staff.
Responsibilities:
Include but are not limited to:
Sanctions Operations Monitoring- Conduct preliminary investigation of apparent breaches of regulations and/or compliance standards, and escalate findings within Sanctions Team, when required
- Conduct sanctions screenings for hits and maintain detailed documentation
- Identify sanctions compliance issues / concerns and escalate when necessary
- Communicate with the FLUs when payments are identified which are related to entities with previously filed SARS
- Conduct periodic audit reviews of FLU’s transactions to ensure full compliance with all applicable sanctions regulations as well as internal policies and procedures
- Assist with coordination of response for internal and external sanctions/ sanctions-related examinations
- 2nd Level review summary sheet for each affiliate sampling case
- Update and maintain log of sanctions cases, payments and other related transactions
- Assist in the preparation and completion of sanctions risk assessments and other compliance reviews
- Conduct periodic quality review of sanctions data in system and update as necessary
- Prepare sanctions reports, QC reports and communications
- Prepare status summaries, routine and ad hoc reports
- Participate in special projects and/or other duties as assigned
Qualifications:
- Bachelor’s degree is required
- 5 years of work experience in a bank or financial institution in a BSA/AML & SANCTIONS internal control capacity preferred
- Knowledge of U.S. Banking regulations and compliance practice with strong emphasis on all aspects of BSA, AML and OFAC
- CAMS certification preferred
Pay Range
Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.- USD $65,000.00 - USD $150,000.00 /Yr.
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