OFAC Compliance Analyst I

CFSB; New York (NY); On-site; USD 70,000 - 110,000; Full time

Job summary

Community Federal Savings Bank (CFSB) is seeking a compliance professional to analyze OFAC alerts across its banking services, including payment processing and money services. The role requires a solid understanding of OFAC sanctions, AML, and BSA regulations, with responsibilities spanning screening, investigations, and escalation.

The candidate will work with the OFAC Team within the Financial Intelligence Unit, stay current on regulatory changes, and collaborate with Operations and external

Qualifications

• 1 to 3 years in an OFAC screening-specific role.
• Familiarity with OFAC screening within ACH and wire transfer transaction threads.
• Ability to obtain necessary information to classify an OFAC hit as a "match" or "not a match" with minimal guidance and supervision.
• Organized, detail-oriented, self-motivated, and strong communication, writing, and follow-up skills.
• Ability to liaise between internal business lines and external vendors and clients, and to work well both independently and as part of a team.
• Ability to work dependably and consistently under team constraints, and to manage time efficiently and effectively.
• Strong research, analysis, communication, writing, and follow-up skills.
• Understanding of compliance and BSA/AML/OFAC regulatory requirements and implications.

Responsibilities

• Conduct sanctions screening of real-time and post-transactional alerts in the Bank's automated sanction screening solution for potential violations of OFAC and other governmental sanctions. Investigate potential matches and true positive hits; elevate for further review and approval as required by procedure.
• Review daily manual reports for OFAC screening, documenting the reviews and reporting findings to management as necessary.
• Identify potential matches that warrant additional research; elevate potential sanctions violations and/or reputational/financial risks accordingly and document the resolution.
• Ensure escalation of alerts are properly handled and documented according to procedures.
• Interact with other departments/lines of business on resolution of issues (e.g., Operations Department, CFSB clients).
• Stay abreast of regulatory changes and AML related news, with an emphasis on OFAC sanctions-related developments. Ensure timely completion of all mandatory training requirements.
• Effectively utilize and operate all tools and technology appropriate to the role.
• Identify potential strategic process improvements and assist with implementation. Assist other teams within Compliance when needed.
• Ensure timely completion of all mandatory training requirements.

Skills

OFAC screening

Regulatory compliance

AML regulations

Attention to detail

Communication skills

Writing skills

Research skills

Time management

Team collaboration

Tools

Microsoft Office

CGI HotScan

Job description

Community Federal Savings Bank (CFSB) is seeking a compliance professional to analyze OFAC alerts across its banking services, including payment processing and money services. The role requires a solid understanding of OFAC sanctions, AML, and BSA regulations, with responsibilities spanning screening, investigations, and escalation.

The candidate will work with the OFAC Team within the Financial Intelligence Unit, stay current on regulatory changes, and collaborate with Operations and external