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Sanctions Officer (Broker/Dealer) - Hybrid

Company: Infinity Consulting Solutions
Location: Miami
Posted on: September 24, 2022

Job Description:

Sanctions Officer (Broker/Dealer) - Hybrid

Location - NYC

Role & Responsibilities:

* Provide sound sanctions advisory services to respective stakeholders - including interpretation on sanctions regulations issued by the US; stay apprised of EU, UK, and APAC Sanctions regimes in parallel, by collaborating with respective counterparts.

* This work will include analyzing new sanctions regulations and interpreting their application to the company's North America Business Divisions, disseminating clear and objective guidance, and working with respective groups to ensure processes adhere to new developments as they arise.

* Update Sanctions Policy and disseminate to all Firm employees

* Provide support to Chief AML Officer and other AML management team on relevant issues

* Engage with Risk, Compliance, and other AML colleagues on sanctions related topics

* Responsible for assessing controls relating to screening of payments and applicable transactions (by business line) to ensure corresponding transactional processes conducted by respective groups (i.e., treasury, margin, ops depts) are in compliance with OFAC regulations and AML Sanctions Policy.

* Oversight and guidance to respective teams (ops, treasury, margin..) on control enhancements that need to be implemented based on gaps noted. Ensure procedures are in place.

* Oversight of blocking, rejecting, and reporting transactions to OFAC as needed in collaboration with Legal dept. where necessary

* Perform quality assurance testing for payments to identify gaps or issues

* Perform quality assurance checks and validations of OFAC filtering systems to ensure systems are compliant per releases of OFAC SDN updates.

* Develop and deliver Sanctions related training as needed.

* Update OFAC logs and other items as needed.

* Participate in Ad-hoc management requests with relation to Sanctions initiatives.

* Stay abreast with new laws and regulations that involve Global Sanctions Compliance.

* Other duties assigned by management, including supporting other BSA Department areas as needs arise (e.g., Investigate alerted transactions for AML/Sanctions risks and provide guidance on SAR filings as needed.)

* Liaise with AML Compliance team members and Technology teams on sanctions screening issues, as well as enhancements.

* Proactively identify regulatory compliance and/or operational issues and implement solutions to improve control environment.

* Proactively represent US Sanctions Compliance in any initiatives relating to upgrades of sanctions screening software

* Identify potential screening gaps and develop implementation plans to address them.

* Participate in special projects in support of the US Sanctions Compliance program.

* Assist with coordination of materials for internal and external OFAC/sanctions-related regulatory exams


* 6-8 yrs. of Subject Matter Expertise applied in US Sanctions Compliance, and direct experience in a Sanctions Compliance Advisory role/discipline

* Knowledge of OFAC requirements is necessary; knowledge of EU and HMT programs is important;

* Knowledge of global sanctions programs, including reporting and licensing requirements is a plus.

* Must have experience within an international financial institution

* Good understanding of payment methods and transaction types,

* B.A./B.S. degree; CAMS Certification a plus

Keywords: Infinity Consulting Solutions, Miami , Sanctions Officer (Broker/Dealer) - Hybrid, Sales , Miami, Florida

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