Sanctions Manager

Within the Financial Crimes Compliance, ("FCC"), the Sanctions Compliance Team ("SCT") conducts alert reviews and investigations generally resulting from transaction and customer screening. The Vice President reports into a Director, and the Vice President is the people leader of the Analysts performing the alert review and investigations. The Vice President may be involved in performing assignments in the absence of the Director and ensures compliance of all business-as-usual processes in accordance with regulatory requirements Bank Secrecy Act/Anti Money Laundering/Office of Foreign Assets Control (BSA/AML/OFAC), SMBC policies and procedures.

SCOPE
The Vice President manages a team and establishes guidelines and provides training to identify sanctions and related Financial Crimes Compliance concerns to ensure compliance with internal and external requirements. The Vice President acts as an SME for translating sanctions risks investigated in the different products and services subject to screening. Vice President may perform a secondary review for investigations, supports testing, new hire training, and directs the day-to-day work of employees or act as a delegate in replace of a Director. The Vice President also leads the list-management supporting processes including list addition and reconciliation. The Vice President helps manage complex sanctions concerns to next level of management. The Vice President is also responsible for managing the metrics and related reporting.

The job responsibilities are described herein:

• Acts as lead for the process in their department reporting into the Director. Responsible for day-to-day workflow management, performance, and management of assigned staff; assistance in the maintenance and enhancement of department processes; and oversight, testing of upgrades to Compliance applications.
• Ensures compliance with all regulatory practices outlined by FCC (Financial Crimes and Compliance), BSA/AML/OFAC and adherence to Americas Division Bank policies and procedures. Provides management and guidance to assigned team members in scope.
• May act as a checker or second reviewer and perform due diligence on alerted transactions. Records decision-making on transactions, SWIFT messages, customers, and affiliated parties referred for manual review by the Bank's automated compliance filters.
• Ensures business continuity under all conditions, sometimes adverse, with strict adherence to established guidelines and deadlines.
• Ensures completion of requests from BSA Officer in relation to conditional approvals or other requirements.
• Maintains ongoing contact with branches and frontline teams such as Trade Finance and Payment teams.
• Prepares reports and other materials as required in response to inquiries from internal and external auditors, bank departments, and regulators. Provides timely updates of internal bank policy changes, new regulatory compliance requirements, and recommendations from CPAD.
• Ensures maintenance of OFAC sanctions lists and Internal Watchlists utilized by the tool.
• Participates in system testing and implements system upgrades to ensure the integrity of systems and processes for transaction screening.
• Provides oversight of all data or MI produced relating to Sanctions.
• Maintains up to date guidelines and procedures
• Handles QA or Audit related requests with support from the team.
• Supports ongoing model validation reviews and related topics.
• Provides support to the Director on strategic topics related to sanctions operations and compliance.
  

• Thorough understanding of legal aspects and recordkeeping requirements of banking regulations relating to money transfer (especially OFAC, AML, BSA, USA PATRIOT Act).
• Strong knowledge of market practices related to foreign and domestic money transfers; knowledge of OFAC.
• Strong level knowledge of banking policies, statutory and compliance regulations.
• Strong knowledge of risk management principles and practices.
• Ability to interpret changes in the regulatory framework and implement in investigative review of stopped payments and customer relationships.
• Supports and leads on training and procedural updates.
• Strong sense of urgency, accuracy and accountability; responsive to time sensitive needs.
• Strong leadership skills and ability to resolve issues and create a network.
• Strong management skills; decision making, influencing and delegation skills; works independently.
• Strong analytical, presentation and communication skills.
• Ability to multitask and manage delivery to tight deadlines.
• Ability to understand complex workflows and systems