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Sanctions Investigations Analyst

SMBC Group

Jersey City (NJ)

Hybrid

USD 72,000 - 85,000

Full time

Today

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Job summary

An established industry player is seeking a detail-oriented Sanctions Investigations Analyst to join their Financial Crimes Prevention Unit. This role involves reviewing transaction alerts, ensuring compliance with banking regulations, and supporting various investigative processes. The ideal candidate will possess strong analytical and decision-making skills, with a solid understanding of OFAC regulations and financial compliance. This position offers a competitive salary and a hybrid work model, allowing for flexibility in work arrangements. Join a dynamic team dedicated to upholding the highest standards in financial integrity and compliance.

Benefits

Competitive portfolio of benefits

Flexible work arrangements

Opportunities for professional development

Qualifications

3 to 5 years of experience in Financial Services Compliance preferred.
Understanding of money transfer regulations and compliance.

Responsibilities

Conduct due diligence on escalated alerts and investigations.
Support compliance with regulatory practices and guidelines.

Skills

Legal aspects of banking regulations

Knowledge of OFAC regulations

Analytical skills

Decision-making skills

Communication skills

Multi-tasking

Education

Bachelor's degree or equivalent experience

Tools

SWIFT

FircoSoft

Join to apply for the Sanctions Investigations Analyst role at SMBC Group

SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.

In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.

The anticipated salary range for this role is between $72,000.00 and $85,000.00. 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.

Role Description

Within the Financial Crimes Prevention Unit, ("FCPU"), the Sanctions Compliance Team ("SCT") is responsible for the review of alerts in transaction and customer screening. Analysts assist the team and work closely with senior analysts and Associates. Analysts have responsibility for conducting processes under their VP's remit. Analysts may be involved in performing assignments in the absence of the Associate and ensure compliance of all transaction examination activities in accordance with regulatory requirements Bank Secrecy Act/Anti Money Laundering/Office of Foreign Assets Control (BSA/AML/OFAC), SMBC 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. Acts as an SME for department and across other functions. May train others. May lead a process involving a team or act as an independent contributor. Individuals are expected to contribute to workflow or process change and redesign, and to form a strong understanding of the specific process. Primary focus is on execution within defined parameters, with some expansion based on developing capabilities and experiences.

This position conducts first review on escalated transactions and reports to an Associate or VP. Expected working hours are 10am to 6pm or close of business.

Role Objectives

Acts as first reviewer and performs due diligence on real-time and static data escalated alerts and resulting case investigations. Records decision-making on transactions, SWIFT messages, customers and affiliated parties referred for manual review by the Bank's automated compliance filters.
Supports review of various detective monitoring reports and external bank-stop inquiries
Ensures business continuity under all conditions, sometimes adverse, with strict adherence to established guidelines and deadlines.
Ensures completion of requests from BSA Officer in relation to conditional approvals or other requirements.
Coordinates ongoing contact with branches to support issuance of due diligence RFIs.
May support Associates and Managers in the preparation of reports and other materials as required in response to inquiries from internal and external auditors, bank departments, and regulators.
Supports Associates and Managers in updating the internal sanctions screening filter in conjunction with ongoing OFAC, MOFA, UNSC sanctions and Internal Watchlist changes.
Ensures compliance with all regulatory practices outlined by CPAD (Compliance Department) BSA/AML/OFAC and adherence to Bank policies and procedures.
Participates in system testing and implements system upgrades to ensure the integrity of systems and processes for transaction monitoring.

Qualifications And Skills

Basic understanding of legal aspects and recordkeeping requirements of banking regulations relating to money transfer (especially OFAC, AML, BSA, USA PATRIOT Act).
Knowledge of market practices related to foreign and domestic money transfers.
Knowledge of OFAC regulations and global sanctions.
Strong level knowledge of banking policies, statutory and compliance regulations.
Strong knowledge of accounting principles and practices.
Ability to interpret changes in the regulatory framework and implement in investigative review of stopped payments and customer relationships.
Knowledge of SWIFT / Payment Message Types / RMA operations.
Strong sense of urgency, accuracy and accountability; responsive to time sensitive needs.
Strong multi-tasking and decision-making skills; works both independently, but also in collaboration with Team members.
Strong analytical, presentation, writing, and general communication skills.
Ability to assess transaction related documents
Ability to work under pressure and within real-time market deadlines.

Additional Requirements

Work Experience: 3 to 5 years of specialized experience in Financial Services Compliance, Payment System or Money Transfer preferred. Previous OFAC/sanctions screening experience strongly preferred
Software Systems / Programming Languages: SWIFT preferred. FircoSoft preferred
Education: Preferred BA / BS (or equivalent experience)
Licenses / Certifications / Registrations: CAMS preferred
Language Skills: Business fluency in English

SMBC’s employees participate in a Hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.

SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.

Seniority level

Seniority level
Not Applicable

Employment type

Employment type
Full-time

Job function

Job function
Business Development and Sales
Industries
Banking, Financial Services, and IT Services and IT Consulting

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