Business Enhanced Due Diligence Analyst - OFAC Sanctions

First Citizens; New York, Cary (NY, NC); On-site; USD 93,000 - 162,000; Full time

Job summary

An established industry player is seeking a Sanctions Enhanced Due Diligence Analyst to join their dynamic team. This hybrid role involves conducting thorough due diligence on high-risk clients, ensuring compliance with regulatory requirements, and performing extensive research using both open-source and proprietary tools. The successful candidate will lead risk analysis efforts, develop training, and collaborate with key stakeholders to promote a culture of compliance. If you are passionate about financial integrity and regulatory compliance, this is an exciting opportunity to make a significant impact in a reputable financial institution.

Benefits

Competitive Benefits Program

Variable Incentives

Bonuses

Quality Benefits

Qualifications

• 4+ years in Financial Services or related risk fields required.
• Strong knowledge of sanctions and regulatory compliance essential.

Responsibilities

• Conduct enhanced due diligence on clients to assess sanctions risks.
• Ensure compliance with regulatory requirements and internal policies.
• Lead risk analysis and reporting on high-risk clients and sectors.

Skills

Sanctions Knowledge

Risk Analysis

Regulatory Compliance

Client Due Diligence

Project Management

Education

Bachelor's Degree in Financial Services or related field

High School Diploma or GED

Tools

Proprietary Research Tools

Job description

Overview

This is a hybrid role, with the expectation that time working will regularly take place inside and outside of a company office.

SVB’s First Line of Defense Enhanced Due Diligence Know Your Customer (“EDD KYC”) team is responsible for conducting enhanced due diligence on higher risk client segments that may pose a higher risk for money laundering, terrorist financing, sanctions, or reputation risk in support of all legal and regulatory requirements as a large financial institution. As a Sanctions Enhanced Due Diligence Analyst, you will be a part of SVB’s First Line of Defense EDD Team tasked with leading OFAC/Sanctions due diligence reviews of existing clients and prospects, ensuring that they are compliant with FCBs Risk Appetite, and any/all applicable sanctions regulations. Sanctions Due Diligence reviews require performing extensive research using open source and proprietary tools, reviewing sanctions adverse media, leading client due diligence calls, drafting client specific outreach questions, and conducting a comprehensive risk analysis to assess a broad spectrum of sanctions risk. Draft high-quality, thoroughly researched sanctions risk analysis as well as program, policy, and procedure documents. Maintains knowledge of laws and regulations, particularly US and international sanctions programs and foreign policy issues, through ongoing research and industry involvement. Demonstrate subject matter expertise by acting as a trusted resource and assist in developing and delivering sanctions training on new or emerging sanctions risks. Partnering with key stakeholders across the First Citizens platform including relationship, product teams and Sanctions Compliance is critical.

Responsibilities

• Enhanced Due Diligence – Perform thorough EDD Sanctions reviews on new and existing clients, ensuring compliance with regulatory requirements and internal policies. Conduct in-depth analysis of client profiles, business activities, and ownership structures to assess sanctions, terrorist financing, and other financial crime risks. Review and verify client documentation including identification documents, financial statements, and transaction records to ensure accuracy and completeness of KYC information. Assist clients and prospects in establishing the proper sanctions control environment to ensure compliance with Bank’s requirements.
• Regulatory Compliance – Serve as sanctions subject matter expert and ensure compliance with regulatory requirements, industry standards, and best practices related to EDD, KYC, BSA, Sanctions, and AML regulations. Document and maintain accurate records of due diligence reviews, including findings, decisions, and supporting documentation in accordance with internal policies and regulatory standards. Partner with Compliance, Internal Audit, and other departments to respond to examinations and audit requests, manage execution and implementation of action plans, and ensure all processes and changes implemented fully comply with applicable regulations and legislation, standards, policies, and guidelines.
• Risk Analysis – Lead and champion efforts on identifying and managing existing and emerging risks identified through reviews, and ensuring these risks are effectively assessed, communicated, and controlled. Conduct assessments and profiling of clients based on their risk factors including business type, transaction volume, and geographical location. Analyze client transactions and account activity to identify red flags indicative of potential financial crimes, known sanctions evasion techniques, or high-risk activities. Identify and communicate opportunities to automate/streamline quality and compliance efforts.
• Reporting & Training – Develop and report risk tolerance metrics and provide ongoing reporting on high-risk sector pipeline to senior management. Communicate effectively with internal stakeholders, relationship managers, and business units to address queries and resolve issues related to EDD. Provide expertise in assessing prelaunch or emerging business models to align with internal requirements for EDD and approval. Collaborate with cross-functional teams to share insights, provide support, training, and guidance on policies, procedures, and best practices, promoting a culture of compliance.

Qualifications

Bachelor's Degree and 4 years of experience in Financial Services, First Line Risk, Enterprise Risk, AML/Sanctions Risk, or Operational Risk

-OR-

High School Diploma or GED and 8 years of experience in Financial Services, First Line Risk, Enterprise Risk, AML/Sanctions Risk, or Operational Risk

Preferred Qualifications:

• Knowledge of sanctions experience.
• Project Management or Internal/External Consulting.
• Knowledge of risk techniques, practices, and control frameworks.
• Knowledge of various banking and government regulatory requirements and processes.
• Knowledge of regulatory guidance pertaining to enterprise risk and operational risk.
• Ability to work effectively with associates, senior management, and various committees.

This job posting is expected to remain active for 45 days from the initial posting date listed above. If it is necessary to extend this deadline, the posting will remain active as appropriate. Job postings may come down early due to business need or a high volume of applicants.

For NY, the base pay for this position is relative to your experience but the range is generally $93,450.00 – $161,980.00 per year.

Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed, and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.