BSA Sanctions Compliance Manager

Sanctions Compliance Manager

The Sanctions Compliance Manager is responsible for overseeing and ensuring an organization's compliance with sanctions, trade regulations, and laws set forth by OFAC and other international sanction programs. This position plays a critical role in safeguarding the organization against legal and financial risks associated with non-compliance to sanctions and trade regulations by being responsible for the daily operations of the bank-wide Sanctions screening process. This role is expected to be the subject matter expert regarding sanctions concerns and the central point of contact for sanctions related matters. Additionally, this role is responsible for required regulatory reporting.

Position responsibilities include :

• Develop and implement policies and procedures to ensure compliance with U.S and global regulations and sanctions programs that align to the enterprise sanctions framework.
• Set the sanctions policy and establish risk-based procedures to prevent, detect, and report potential sanctions violations.
• Monitor and analyze new sanctions and trade restrictions issued by OFAC and other global regulatory bodies.
• Collaborate with other departments on implementation of any new or changed, laws, rules, regulations, and products or services.
• Review and ensure compliance with applicable sanctions and appropriate disclosures on marketing collateral, and customer-facing documents.
• Conduct risk assessments to identify potential violations or high-risk areas and recommend mitigation strategies.
• Partner with Line of Business, Compliance, Risk and third parties to ensure that all processes and procedures are following applicable policies and regulations.
• Manages periodic audits of automated OFAC systems to ensure sanction screening processes are compliant with regulatory expectations.

Screening & Due Diligence :

Reporting & Documentation :

Leadership :