Legal & Compliance Department - Sanctions Operations Part-time Staff

Bank of China Limited, New York Branch; New York (NY); Hybrid; USD 43,000 - 99,000; Part time

Job summary

Bank of China Limited, New York Branch seeks a part-time Sanctions Operations staff member to support real-time monitoring and KPI reporting under the Vice President of Sanctions Operations. The role focuses on ensuring compliance with BSA/AML and OFAC across US transactions.

The candidate will perform 2nd level reviews, sanctions screenings, documentation, and assist with examinations, while maintaining logs and producing periodic sanctions communications.

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.

Responsibilities

• 2nd Review real-time payment alerts and determine matches.
• Open investigations and request information from ordering bank on a daily basis.
• Conduct sanctions screenings for hits and maintain detailed documentation.
• Identify sanctions compliance issues/concerns and escalate when necessary.
• Communicate with FLUs when payments relate to entities with SARs on file.
• Conduct periodic audit reviews of FLUs transactions for sanctions compliance.
• Assist with coordination of responses for 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 related transactions.
• 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.

Skills

BSA/AML knowledge

Regulatory compliance

OFAC compliance

Education

Bachelor’s degree

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.