Senior Associate, OFAC Senior Analyst I

Description

JOB SUMMARY:

CFSB is a full-service payments, lending and banking provider that delivers global financial services through a personal approach. CFSB is seeking a Senior Associate, Office of Foreign Assets Control (OFAC) Senior Analyst I with 4 to 6 years of banking and OFAC sanctions screening experience. Within the OFAC Team of the Financial Crimes Compliance (FCC) Unit, this role analyzes OFAC alerts yielded from CFSB’s full range of offered banking services including ACH settlement services, pre-paid card issuance, and retail banking for our general customer base and the various types of Money Services Businesses and FinTech companies serviced by CFSB.

There are stratified designations within the Senior Associate, OFAC Senior Analyst II role which are assigned based on experience and skill (e.g., Senior OFAC Analyst I, Senior OFAC Analyst II). The Analyst suitable for this role will display a high degree of professionalism and integrity through their work and will possess a solid understanding of OFAC sanctions, Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) regulations.

Responsibilities:

• Investigate escalations of sanctions screening of real-time and post-transactional alerts in the Bank’s automated sanctions screening solution for potential violations of OFAC and other governmental sanctions. Investigate potential matches and true positive hits; escalate for further review and approval as required by procedure.
• Ability to assist in ancillary duties to ensure efficient identification and monitoring of sanctioned entities, including case tracking and assisting with quality control reviewing.
• Conduct investigations to ensure that the OFAC work is handled in accordance with defined procedures that meet standards for both quality and timeliness.
• Review daily manual reports for OFAC screening, documenting the reviews and reporting findings to management as necessary.
• Succinctly and clearly summarize potential match escalations (including conducting additional research) accordingly and thoroughly document the resolution.
• Interact with other departments/lines of business on resolution of issues (e.g., Operations Department, CFSB clients).
• Stay abreast of regulatory changes and AML related news, with an emphasis on OFAC sanctions-related developments. Ensure timely completion of all mandatory training requirements.
• Effectively utilize and operate all tools and technology appropriate to the role.
• Identify potential strategic process improvements and assist with implementation.
• Assist other teams within Compliance on workflow and project when needed.
  
  

Qualifications

Knowledge, Skills, and Abilities:

• Must possess a demonstrable knowledge of enterprise systems, network, security, and software administration and engineering within a hybrid cloud environment.
• Experience with OFAC sanction screening of various customer types desired (e.g., Money Services Businesses such as money transmitters; pre-paid card programs; debit card programs: and retail banking customers).
• CAMS certification a plus (may be in-process at time of hire within specified timeframe of completion).
• Familiarity with OFAC screening within ACH and wire transfer transaction threads.
• Expert level ability to obtain necessary information to classify an escalated OFAC hit as a “match” or “not a match” with minimal guidance and supervision. Ability to make accurate decisions supported by detailed documentation justifying decisions.
• Strong research, analysis, communication, writing, and follow-up skills. Ability to identify, escalate and resolve a problem.
• Ability to liaise between internal business lines and external vendors and clients, and to work well both independently and as part of a team.
• Ability to work dependably and consistently under time constraints, and to manage time efficiently and effectively.
• In-depth understanding of compliance and BSA/AML/OFAC regulatory requirements and implications.
• Proficiency in standard Microsoft Suite programs.
• Experience with CGI HotScan’s sanctions screening solution a plus.
  
  

Education, Training, and Experience:

• Bachelor’s degree or evidence of directly related experience to the role. Master’s degree a plus.
• Minimum of 5 to 8 years in an OFAC screening-specific role.
• CAMS Certification not required, but a plus
  
  

Salary Range: $85,000 - $110,000 / year

"Base salary range does not include performance-based bonus and/or other benefits, where applicable. Actual base salary offer will vary based on skills and experience."

About Community Federal Savings Bank (CFSB)

Community Federal Savings Bank (CFSB) is a federally chartered bank founded in 2001 and headquartered in New York City. CFSB has focused on providing superior service and added value to clients though a solid understanding of relationship banking. We offer a full range of services, including loans, bill payments, card services, internet banking, and merchant processing.

We are an equal opportunity employer and do not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, disability, military and/or veteran status, or any other Federal or State legally-protected classes.