OFAC Analyst

Valley National Bank
$54,600.00-$91,000.00
United States, Florida, Clearwater
1617 Gulf to Bay Boulevard (Show on map)
Nov 17, 2024
The OFAC Analyst will perform, review and verify hits related to OFAC and other lists and to ensure compliance with OFAC sanctions. 40 Responsibilities include but are not limited to: Perform due diligence on OFAC Sanction Screening hits generated from a variety of sources. Investigate possible hits and escalate for further review and approval to management. Distribute updated OFAC lists to various business units and ensure all searches are performed timely. Perform OFAC screening of Bank's customer database when OFAC list is updated. Perform annual OFAC screening of Bank's customer database. Ensure all new Bank vendors have been OFAC screened by the respective business units and are added to the Bank's customer database for ongoing screening. Handle investigations related to real-time wire transfer inquiries related to OFAC. Prepare and distribute reports to management regarding blocked and rejected transactions. Monitor OFAC website for updates. Create and disseminate OFAC bulletins to the Bank's business lines and ensure appropriate compliance response to any changes to OFAC requirements or new sanctioned parties. Participate in ad-hoc projects on an as needed basis. Required Skills: Must have knowledge of OFAC regulations and their practical application in a financial services environment. Strong verbal and written communication skills. Strong research skills. Advanced skills in the use of Microsoft Word, Excel, PowerPoint, Outlook and experience with on-line research systems including web-based tools. Strong time management skills. Ability to maintain attention to detail and accuracy under pressure situations. Team-oriented and able to work independently. Ability to prioritize and organize assignments. Required Experience: High School diploma or GED and a minimum of two years in banking operations, AML compliance or OFAC sanctions screening related experience. Bachelor's degree preferred. ACAMS Certification preferred. Exact compensation may vary based on skills, experience, and location. $54,600.00 $91,000.00