Legal & Compliance Department - Sanctions Operations Part-time Staff

Bocusa; New York (NY); On-site; USD 43,000 - 99,000; Part time

Job summary

Bank of China is hiring a part-time Sanctions Operations Staff in New York. You will monitor real-time payments, perform 2nd level reviews, and conduct sanctions screenings while coordinating responses to examinations.

The role requires a Bachelor’s degree and about five years in BSA/AML and sanctions control, with CAMS preferred. Strong knowledge of U.S. banking regulations is essential.

Qualifications

• Bachelor's degree required.
• 5 years of experience in a bank or financial institution in a BSA/AML & sanctions internal control capacity preferred.
• Knowledge of U.S. Banking regulations with emphasis on BSA, AML, and OFAC; CAMS preferred.

Responsibilities

• 2nd Review real-time payment alerts to determine true or false matches.
• Open investigations and request information from ordering banks daily when needed.
• Conduct sanctions screenings and maintain documentation.
• Escalate sanctions concerns to the team when necessary.
• Coordinate response for sanctions-related examinations and prepare summary sheets.
• Update and maintain log of sanctions cases and related transactions.
• Prepare sanctions risk assessments and routine QC reports.

Skills

BSA/AML

Sanctions monitoring

Regulatory knowledge

OFAC compliance

Education

Bachelor’s degree

CAMS certification preferred

Job description

Introduction

Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.

Overview

The Sanctions Operations Part-time Staff supports continuous monitoring and transaction review by providing guidance and identifying solutions to business challenges arising in the course of managing sanctions-related risks for real-time transactions. The Sanctions Operations Part-time Staff supports the Vice President of Sanctions Operations in preparing KPI reporting, USSC communications, and communications to Sanctions Operations team staff.

Responsibilities

Include but are not limited to:

Sanctions Operations Monitoring

• 2nd Review real-time payment (determining whether an alert related to wire transfers is a true match to a suspect name or a false match based upon information in payment instruction
• If insufficient information is in the wire transfers, open an investigation and request necessary information from ordering bank on daily basis) or Conduct complex investigation of apparent breaches of regulations and/or compliance standards, and escalation findings within Sanctions Team, when required
• Conduct sanctions screenings for hits and maintain detailed documentation
• Identify sanctions compliance issues/concerns and escalat when necessary
• Communicate with the FLUs when payments are identified which are related to entities with previously filed SARs
• Conduct periodic audit reviews of FLU’s transactions to ensure full compliance with all applicable sanctions regulations as well as internal policies and procedures
• Assist with coordination of response for internal and external sanctions/sanctions-related examinations
• 2nd Level review summary sheet for each affiliate sampling case
• 2nd Level review downstream return funds transactions
• Update and maintain log of sanctions cases, payments and other related transactions

Sanctions Reports

• Assist in the preparation and completion of sanctions risk assessments and other compliance reviews
• Conduct periodic quality review of sanctions data in system and update as necessary
• Prepare sanctions reports, QC reports and communications
• Prepare status summaries, routine and ad hoc reports
• Participate in special projects and/or other duties as assigned

Qualifications

• Bachelor’s degree is required
• 5 years of work experience in a bank or financial institution in a BSA/AML & SANCTIONS internal control capacity preferred
• Knowledge of U.S. Banking regulations and compliance practices with strong emphasis on all aspects of BSA, AML, and OFAC
• CAMS certification preferred

Pay Range

Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.

USD $31.00 - USD $72.00 /Hr.