Senior Sanctions Analyst (Remote)

Company: Sumitomo Mitsui Banking Corporation (SMBC)
Location: Charlotte
Posted on: November 18, 2023

Job Description:

Join us on our mission to create a completely new, 100% digital bank that truly serves customers' best interests. We are a close-knit and fun-loving team of seasoned financial services professionals who came together for the challenge of building a bank from scratch - and we are committed to doing it all the right way (from technology infrastructure to modern marketing to customer experience).The anticipated salary range for this role is between $71,000.00and $83,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.We work with the flexibility and speed of a start-up. But we also have significant stability and capital from being part of the SMBC Group (Sumitomo Mitsui Banking Corporation). SMBC is the second largest bank in Japan and the 12th largest bank in the world with operations in over forty countries. And SMBC is committed to disrupting the US marketplace with ground-breaking products.It is the best of both worlds, and we are seeking proven marketing leaders to propel us towards a national launch. We have both the ambitious growth plans and the 'patient capital' necessary to execute a multi-year plan. Join us on the journey to deliver an exciting concept of evolved banking.SummaryWithin the Financial Crime Prevention Unit, ("FCPU"), the Sanctions Compliance Team ("ESCT") provides second-line oversight to Jenius bank. The Sr. Sanctions Analyst reports into the Vice President of the Sanctions Advisory team. The Sr. Sanctions Analyst has responsibilities for overseeing the process, including drafting reports to the applicable sanctions regulators, regulatory change management, and giving advice to multiple different business units. Analysts ensure compliance in accordance with regulatory requirements Bank Secrecy Act/Anti Money Laundering/Office of Foreign Assets Control (BSA/AML/OFAC), Jenius policies and procedures.
The Analyst follows established guidelines to identify and resolve problems and proactively recommends solutions to improve processes where guidelines may not have been developed. The Analyst acts as an SME for department and across other functions, and as an independent contributor or as part of a larger team. The Analyst is expected to contribute to workflow, process changes and redesign as warranted. The Analyst is required to form a strong understanding of US sanctions related rules and regulations. The Analyst may support the day-to-day work of other teams within the Sanctions Compliance team function/. This position may also provide support to the Analytics Team to effectively update, tune and optimize sanctions filtering system. The Analyst must possess solid business acumen, natural curiosity, and the ability to effectively shift between communications styles based on the audience.
Principal Duties and Responsibilities

• Provides subject matter expertise and timely guidance about sanctions matters to stakeholders both within the branch and to other affiliates, as necessary.
• Ongoing, assists Supervisor with day-to-day workflow management, performance, and management of assigned staff; maintains and enhances Advisory department processes and tasks.
• Ensures compliance with all regulatory practices outlined by Compliance Department of Americas Division (CPAD), BSA/AML/OFAC and with Bank policies and procedures. Provides management and guidance to assigned team members in scope for regulatory change management process.
• Performs due diligence on alerted transactions escalated by Level 1 and Level 2 teams on ad hoc basis. Records decision-making on different escalations which can includes but not limited to requests from different DBU business units, and transactional or customers and affiliated parties related alerts.
• Ensures completion of requests from BSA/AML/OFAC Compliance Officer in relation to conditional approvals or other requirements.
• Prepares overview of significant regulatory changes.
• 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 makes recommendations for the Sanctions Compliance team.
• Prepares OFAC reject/block reports and participates in submission of the Annual Report of Blocked Property.
• Performs additional, targeted research on certain parties to determine a sanctions nexus, make recommendations or take steps to propose watchlist entries to benefit screening controls.
• Ensures business continuity under all conditions, sometimes adverse, with strict adherence to established guidelines and deadlines.
• Maintains ongoing contact with branches and compliance counterparts throughout the enterprise.Position Specifications
• Provides subject matter expertise and timely guidance about sanctions matters to stakeholders both within the branch and to other affiliates, as necessary.
• Ongoing, assists Supervisor with day-to-day workflow management, performance, and management of assigned staff; maintains and enhances Advisory department processes and tasks.
• Ensures compliance with all regulatory practices outlined by Compliance Department of Americas Division (CPAD), BSA/AML/OFAC and with Bank policies and procedures. Provides management and guidance to assigned team members in scope for regulatory change management process.
• Performs due diligence on alerted transactions escalated by Level 1 and Level 2 teams on ad hoc basis. Records decision-making on different escalations which can includes but not limited to requests from different DBU business units, and transactional or customers and affiliated parties related alerts.
• Ensures completion of requests from BSA/AML/OFAC Compliance Officer in relation to conditional approvals or other requirements.
• Prepares overview of significant regulatory changes.
• 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 makes recommendations for the Sanctions Compliance team.
• Prepares OFAC reject/block reports and participates in submission of the Annual Report of Blocked Property.
• Performs additional, targeted research on certain parties to determine a sanctions nexus, make recommendations or take steps to propose watchlist entries to benefit screening controls.
• Ensures business continuity under all conditions, sometimes adverse, with strict adherence to established guidelines and deadlines.
• Maintains ongoing contact with branches and compliance counterparts throughout the enterprise.
• Thorough understanding of legal aspects and recordkeeping requirements of banking regulations (especially OFAC, AML, BSA, USA PATRIOT Act) relating to money transfer.
• 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 accounting principles and practices.
• Expertise and experience in US sanctions laws and regulations.
• Experience in using industry standard sanctions screening tools.
• Experience in reviews, investigation, and resolution of sanctioned related issues.
• Strong sense of urgency, accuracy, and accountability; responsive to time sensitive needs.
• Strong management skills: decision making, influencing and delegation skills, and ability to work independently.
• Strong analytical, presentation and communication skills, and ability to work collaboratively with all levels of company personnel.
• Knowledge of AML, KYC and FinCEN a definite plus.EOE STATEMENT
  We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law.CCPA DISCLOSURE
  Personal Information Collection Notice: This notice contains information under the California Consumer Privacy Act (CCPA) about the categories of personal information (PI) of California residents that Manufacturers Bank collects and the business or commercial purpose(s) for which the PI may be used. We do not sell PI. More information about our collection and use of PI may be found in our CCPA Privacy Policy at https://www.manufacturersbank.com/CCPA-Privacy. Persons with disabilities may contact our Customer Contact Center toll-free at (877) 560-9812 to request the information in this Notice in an alternative format.

Keywords: Sumitomo Mitsui Banking Corporation (SMBC), Charlotte , Senior Sanctions Analyst (Remote), Professions , Charlotte, North Carolina