What are the responsibilities and job description for the Director of Sanctions Compliance position at GEICO?
GEICO is seeking a strategic and dynamic leader to serve as the Director of Sanctions Compliance. In this role, you will lead, coordinate, and enhance our global compliance program, with a specific focus on adhering to Office of Foreign Assets Control (OFAC) regulations. This position is critical in ensuring the organization's adherence to international trade laws and sanctions, as well as fostering a robust culture of compliance across all regions. The Director will work cross-functionally with operational lines, legal, IT, security, and internal controls to ensure risks associated with business activities are effectively identified, measured, monitored, and controlled in accordance with risk and compliance policies.
Key Responsibilities
The duties and responsibilities of this position consist of, but are not limited to, the following:
- Create, maintain, and update program documentation for OFAC compliance initiatives
- Oversee the implementation of compliance action plans and ensure alignment with corporate policies and legal requirements
- Develop and standardize Standard Operating Procedures (SOPs) for insurance operations and the OFAC compliance program
- Design and deliver tailored compliance training programs for internal stakeholders and key business units
- Foster awareness of U.S. and global laws, OFAC sanctions, and regional regulatory requirements
- Coordinate complex operational issues and resolve member partner concerns.
- Ensure risks associated with business activities are effectively identified, measured, monitored, and controlled.
- Interact with Senior Management to raise awareness of Sanctions trends, emerging issues, remedial actions or enhancements to the program
- Prepare detailed reports for Senior Management and regulatory authorities as needed
- Design, deliver, and maintain best-in-class Sanctions Compliance practices
- Serve as a mentor and teacher to the compliance team, providing guidance on OFAC and compliance matters to deepen their expertise and ensure effective application of regulations
- Build and lead a high-performing team by staffing, training, coaching, and managing performance.
- Serve as project sponsor or business manager in special projects or initiatives.
Requirements
- Bachelor's degree; OR 4 years of related experience may be substituted in lieu of degree.
- 2 years of direct supervisory or management experience.
- Advanced knowledge of Bank Secrecy Act, AML, OFAC regulations, and the USA PATRIOT Act.
- Experience leading high performing operational teams in a complex, detail-oriented, and fast-paced environment.
- Strong communication, prioritization, and problem-solving skills.
Nice-to-haves
- Advanced knowledge of Insurance products, processes, and/or legal/regulatory requirements.
- Demonstrated ability to collaborate across multiple teams and functions.
- Experience working with third-party contractors.
- Related professional designations (e.g. CAMS, CFE etc.) or actively pursuing.
- Proven experience leading teams across multiple time zones or site locations.
- Proven ability to organize and prioritize workload, performing multiple tasks and devising solutions to problems.
Annual Salary
The above annual salary range is a general guideline. Multiple factors are taken into consideration to arrive at the final hourly rate/ annual salary to be offered to the selected candidate. Factors include, but are not limited to, the scope and responsibilities of the role, the selected candidate’s work experience, education and training, the work location as well as market and business considerations.
At this time, GEICO will not sponsor a new applicant for employment authorization for this position.
Benefits:
As an Associate, you’ll enjoy our
Total Rewards Program
- to help secure your financial future and preserve your health and well-being, including:
- Premier Medical, Dental and Vision Insurance with no waiting period**
- Paid Vacation, Sick and Parental Leave
- 401(k) Plan
- Tuition Assistance
- Paid Training and Licensures
- Benefits may be different by location. Benefit eligibility requirements vary and may include length of service.
**Coverage begins on the date of hire. Must enroll in New Hire Benefits within 30 days of the date of hire for coverage to take effect.
The equal employment opportunity policy of the GEICO Companies provides for a fair and equal employment opportunity for all associates and job applicants regardless of race, color, religious creed, national origin, ancestry, age, gender, pregnancy, sexual orientation, gender identity, marital status, familial status, disability or genetic information, in compliance with applicable federal, state and local law. GEICO hires and promotes individuals solely on the basis of their qualifications for the job to be filled.
GEICO reasonably accommodates qualified individuals with disabilities to enable them to receive equal employment opportunity and/or perform the essential functions of the job, unless the accommodation would impose an undue hardship to the Company. This applies to all applicants and associates. GEICO also provides a work environment in which each associate is able to be productive and work to the best of their ability. We do not condone or tolerate an atmosphere of intimidation or harassment. We expect and require the cooperation of all associates in maintaining an atmosphere free from discrimination and harassment with mutual respect by and for all associates and applicants.
Salary : $131,200 - $229,600
