What are the responsibilities and job description for the International / OFAC Manager position at Comerica Bank?
International/OFAC Manager
The International/OFAC Manager will oversee the OFAC compliance methodology, including analyzing and making recommendations on OFAC software and programs across the business units; file, approve and review Suspicious Activity Reports (SAR). In addition, the individual will manage the investigations staff.
Position Responsibilities
Category C - Days in the office will either be designated days or will vary week to week from 2-5 days
Hours
8:00am - 5:00pm Monday - Friday
Salary
To Be Determined Based on Individual Experience
About Comerica
We know our employees are critical to our overall success and we are dedicated to investing in their future. One of the ways we do this is to offer a comprehensive Total Rewards package designed to recognize and reward individual performance, as well support health, well-being, development and security for our colleagues and their family. Total Rewards consists of cash compensation, development and flexible benefit programs designed to meet individual needs today and in the future. Your salary will be commensurate with your work experience and our programs are reviewed regularly to ensure each remain competitive. We are proud to offer benefits such as health and welfare programs, strong retirement benefits, and generous paid time off programs. You and your eligible family members, including domestic partners and their children, can participate in medical, dental, and vision benefits, 401(k) and pension, income protection benefits such as life insurance, AD&D, and supplemental health programs to offset unexpected health care expenses. We also have a variety of time off programs for things like vacation, sick time, disability, and parental leave. Eligibility for some programs varies based on employment status and tenure.
Upon offer, Comerica conducts a comprehensive background and fingerprint check.
NMLS certification requirement: where applicable, a favorable background check screening, credit check, fingerprint check, and NMLS certification is required in accordance with the SAFE Act.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned into three major business segments; the Commercial Bank, the Retail Bank, and Wealth Management. Comerica's colleagues focus on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.
The International/OFAC Manager will oversee the OFAC compliance methodology, including analyzing and making recommendations on OFAC software and programs across the business units; file, approve and review Suspicious Activity Reports (SAR). In addition, the individual will manage the investigations staff.
Position Responsibilities
- Management of staff assigned to compliance with the OFAC regulations including compliance with non-U.S. sanction country specific lists (ex-European Union, United Kingdom, and United Nations), CTF, Section 311 -- Special Measures and Section 312 -- Special Due Diligence for Correspondent Accounts and Private Banking Accounts including Politically Exposed Persons (PEP).
- Monitor and track emerging issues, trends, and evolving regulatory requirements and assess potential impacts.
- Maintain knowledge of end-to-end processes and internal / external partners and regulatory requirements.
- Manage the daily review of international wire, ACH, letters of credit and foreign exchange transactions that alert due to OFAC-SDN name match and/or U.S. sanctioned foreign country match including non-U.S. sanction country specific lists (ex-European Union, United Kingdom, and United Nations).
- File SAR's and manage OFAC compliance team SAR reviews. Reviewing all parties of the transaction determining if the transaction is suspicious and/or unusual for our customer.
- Research and implement policy and procedure changes necessary for Comerica to remain in full compliance with the regulatory expectations and industry best practices.
- Provide guidance on sanctions, CTF, and international risk related issues to internal stakeholders, including compliance, legal and business team.
- Maintain records of frozen/blocked assets and the annual regulatory reporting thereof.
- Primary business liaison for OFAC and PEP inquiries across the corporation.
- Assist the AML Risk Manager in maintaining Comerica's AML Risk Assessment which continuously evaluates customer, product/services, business unit and geographical risks.
- Bachelor's Degree from an accredited university or 4 years of relevant experience OR a High School Diploma or GED and 6 years of Risk Management or other related experience in the Financial Services Industry
- 8 years of banking or financial services experience
- 4 years of OFAC regulatory experience
- 1 year of Federal Banking Regulation (Bank Secrecy Act/USA PATRIOT Act) experience
- Strongly Preferred: Experience managing or leading a team
- ACAMS preferred
Category C - Days in the office will either be designated days or will vary week to week from 2-5 days
Hours
8:00am - 5:00pm Monday - Friday
Salary
To Be Determined Based on Individual Experience
About Comerica
We know our employees are critical to our overall success and we are dedicated to investing in their future. One of the ways we do this is to offer a comprehensive Total Rewards package designed to recognize and reward individual performance, as well support health, well-being, development and security for our colleagues and their family. Total Rewards consists of cash compensation, development and flexible benefit programs designed to meet individual needs today and in the future. Your salary will be commensurate with your work experience and our programs are reviewed regularly to ensure each remain competitive. We are proud to offer benefits such as health and welfare programs, strong retirement benefits, and generous paid time off programs. You and your eligible family members, including domestic partners and their children, can participate in medical, dental, and vision benefits, 401(k) and pension, income protection benefits such as life insurance, AD&D, and supplemental health programs to offset unexpected health care expenses. We also have a variety of time off programs for things like vacation, sick time, disability, and parental leave. Eligibility for some programs varies based on employment status and tenure.
Upon offer, Comerica conducts a comprehensive background and fingerprint check.
NMLS certification requirement: where applicable, a favorable background check screening, credit check, fingerprint check, and NMLS certification is required in accordance with the SAFE Act.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned into three major business segments; the Commercial Bank, the Retail Bank, and Wealth Management. Comerica's colleagues focus on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.
