Sanction Analyst

Silvergate Capital Corporation (NYSE: SI) is the leading provider of innovative financial infrastructure solutions and services for the growing digital currency industry. The Company’s real-time payments platform, known as the Silvergate Exchange Network, is at the heart of its customer-centric suite of payments, lending and funding solutions serving an expanding class of digital currency companies and investors around the world. Silvergate is enabling the rapid growth of digital currency markets and reshaping global commerce for a digital currency future.  Challenging convention by empowering people allows us to exceed expectations for our clients while cultivating an awesome culture.

The Sanctions Analyst will work within the FCRM department and serve as a subject matter expert relative to OFAC and global sanctions. This position will be responsible for the review and resolution of sanctions related hits on payments transactions, customer account screening, and due diligence reviews. The Sanctions Analyst will be responsible for analyzing and resolving complex sanctions matches related to international transactions and OFAC license activity.

ESSENTIAL DUTIES AND RESPONSIBILITIES

General

• Review, research and resolve potential sanctions matches using screening software on payment transactions, customer account screening, and due diligence reviews
• Assist with OFAC required reporting (e.g., OFAC Blocked and Rejected transactions, Annual Reporting of Blocked Property, reporting pursuant to general or specific licenses, as required)
• Work with the Bank’s OFAC systems to ensure appropriate tuning, thresholds, setting, etc.
• Assists in special projects and tasks for the department as directed
• Assist in the development, revision or review of bank policies, procedures, disclosures, notices, and forms to comply with legislative and regulatory changes or new requirements
• Maintain current knowledge of all federal and state laws and regulations, along with the Company’s policies and procedures
• Not to harm consumers with any act that could be misleading, unfair, deceptive, or abusive in act or practice
• Must adhere to the company’s core values of Challenge Convention, Do What’s Right, Take Ownership, Empower People, Exceed Expectations, and Cultivate Awesome all while keeping our “Why?” front of mind. Our Why? Silvergate is the banking platform for innovators, and we believe in the power of entrepreneurs to create prosperity for our communities.

Decision Making

• Requires exercise of judgment following broad guidelines
• Identify and select complex choices of action where standard practices may not exist
• Must be able to accommodate detailed work, problem solving, reasoning, math, presentations, verbal communication, written communication, analytical reasoning, training others, multiple concurrent tasks, and constant interruptions  

KNOWLEDGE, SKILLS AND ABILITIES

• Five years general banking or regulatory agency experience, with an emphasis in sanctions compliance and/or BSA
• College degree, or equivalent banking experience
• OFAC Sanctions regulatory knowledge
• Experience with complex global sanctions regulations
• Understanding of legislative and regulatory processes
• Familiarity with all functional areas of banking
• Excellent oral and written communication skills
• Comprehensive understanding of general banking compliance regulations and laws
• Comprehensive understanding of general banking operations activities, products, and services
• Ability to proactively identify and assess potential concerns and risks
• Ability to resolve issues, work independently, and meet deadlines
• Persuasive and team-oriented
• Ability to communicate effectively with staff at all levels
• Effective verbal, written, and interpersonal communication skills with the ability to instruct others, train personnel, write reports, correspondence, and procedures, and speak clearly to customers and employees
• Good organizational and time management skills

BANK SECRECY ACT REQUIREMENTS
Responsible for adhering to the reporting and recordkeeping requirements of the Bank Secrecy Act and Anti-Money Laundering rules and regulations, observing economic sanctions by prohibiting transactions as specified by the Office of Foreign Asset Control (OFAC), following the Company’s customer identification program (CIP) rules, observing all Company policies and procedures relating to BSA, OFAC, CIP, and related acts, and participation in ongoing related training.

WORK CONDITIONS
Remote work

PHYSICAL DEMANDS
While performing the duties of this job, the employee is:

• Regularly required to talk or hear
• Required to communicate with customer and coworkers verbally and in writing
• Occasionally required to stand; walk
• Occasionally required to lift up to 10 pounds
• Required to sit for long periods and reach with hands and arms
• Able to read documents, computer screens, reports, other communications and have the ability to adjust focus and close vision.

Management reserves the right to add to, change and revise this description at any time.  This description does not include any marginal functions that are incidental to the essential functions.  Also, it does not imply that these are the only tasks to be performed by the incumbent.  Employees are required to follow any other job-related instructions and to perform any other job-related tasks requested by their supervisor.  Any requirement may be modified to reasonably accommodate individuals with disabilities.

Silvergate is an EEO/AA/Disability/Vet