OFAC Advisory – VP / Associate

Full Time

International Banking Client

Office Status: Hybrid (2 days per week in office)

Salary Range: ($110,000-$230,000)

Responsibilities:

  • Support the U.S. Sanctions Advisory team on matters related to OFAC/ Sanctions regulatory compliance (e.g., sanctions questionnaire escalations, transactional due diligence, FORCES and negative sanctions news).
  • The position reports to the Head of Sanctions Advisory, and includes, but is not limited to, the following functions:
    • Ability to conduct holistic client reviews considering product offerings, substance of client sanctions disclosures, and the sanctioned activity on behalf of SG globally, to determine whether sufficient controls are in place to mitigate any sanctions risk, including conducting a thorough review of the underlying documentation and performing independent research, using LexisNexis, Dow Jones and/or Orbis.
    • Independently lead sanctions due diligence calls with large, sophisticated, global clients who express a preference to provide a verbal sanction disclosure.
    • Investigate and review complicated investment deals and transactions for the various lines of business, and present the residual risks to senior decision makers, often under tight timeframes.
    • Review and decision sanctions screening and negative news escalations arising from various aspects of the KYC process, including during client on-boarding and periodic reviews.
    • Review, investigate, and assess sanctions risks impacting securities products (e.g., ETFs, options, derivatives) and provide timely responses to business inquiries regarding the same.
    • Maintain thorough and accurate recordkeeping of all escalated matters.
    • Develop and maintain strong collaborative working relationships with business counterparts and global compliance partners.
    • Develop and deliver targeted OFAC/ Sanctions trainings for various lines of business and supporting functions.
    • Prepare sanctions risk metrics for the Head of OFAC Sanctions Compliance in addition to internal and external stakeholders.
    • Proactively engages with stakeholders to ensure that reporting aligns to business, regulatory, and governance requirements.
    • Support management in developing controls and procedures.
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