Sr. Associate, OFAC Senior Analyst I

CFSB; New York (NY); On-site; USD 120,000 - 180,000; Full time

Job summary

CFSB seeks a Senior Associate, Office of Foreign Assets Control (OFAC) Senior Analyst I with 5 to 8 years of banking and OFAC sanctions screening experience.

Within the OFAC Team of the Financial Crimes Compliance (FCC) Unit, this role analyzes OFAC alerts yielded from CFSB’s full range of offered banking services including ACH settlement services, pre‑paid card issuance, and retail banking for our general customer base and the various types of Money Services Businesses and FinTech companies

Qualifications

• Minimum 5–8 years in an OFAC screening role.
• Solid understanding of OFAC sanctions, AML and BSA regulations.
• Experience with sanctions screening in banking operations.

Responsibilities

• Investigate escalations of sanctions screening for potential OFAC violations.
• Assist with case tracking and quality control reviews.
• Conduct investigations to ensure timely, accurate OFAC determinations.
• Review daily OFAC screening reports and document findings for management.
• Summarize match escalations and support resolution with research.

Skills

OFAC sanctions screening

AML/BSA regulations

CAMS certification

Regulatory research

Written communication

Time management

Cross-team coordination

Microsoft Office

CGI HotScan

Education

Bachelor’s degree

Master’s degree a plus

Tools

Microsoft Office

CGI HotScan

Job description

Job Summary

CFSB seeks a Senior Associate, Office of Foreign Assets Control (OFAC) Senior Analyst I with 5 to 8 years of banking and OFAC sanctions screening experience. Within the OFAC Team of the Financial Crimes Compliance (FCC) Unit, this role analyzes OFAC alerts yielded from CFSB’s full range of offered banking services including ACH settlement services, pre‑paid card issuance, and retail banking for our general customer base and the various types of Money Services Businesses and FinTech companies serviced by CFSB.

Job Summary

CFSB seeks a Senior Associate, Office of Foreign Assets Control (OFAC) Senior Analyst I with 5 to 8 years of banking and OFAC sanctions screening experience. Within the OFAC Team of the Financial Crimes Compliance (FCC) Unit, this role analyzes OFAC alerts yielded from CFSB’s full range of offered banking services including ACH settlement services, pre‑paid card issuance, and retail banking for our general customer base and the various types of Money Services Businesses and FinTech companies serviced by CFSB. There are stratified designations within the Senior Associate, OFAC Senior Analyst I role which are assigned based on experience and skill (e.g., Senior OFAC Analyst I, Senior OFAC Analyst II). The Analyst suitable for this role will display a high degree of professionalism and integrity through their work and will possess a solid understanding of OFAC sanctions, Anti‑Money Laundering (AML) and Bank Secrecy Act (BSA) regulations.

Responsibilities

• Investigate escalations of sanctions screening of real‑time and post‑transactional alerts in the Bank’s automated sanctions 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.
• Ability to assist in ancillary duties to ensure efficient identification and monitoring of sanctioned entities, including case tracking and assisting with quality control reviewing.
• Conduct investigations to ensure that the OFAC work is handled in accordance with defined procedures that meet standards for both quality and timeliness.
• Review daily manual reports for OFAC screening, documenting the reviews and reporting findings to management as necessary.
• Review potential customer name matches and escalations from the bi‑weekly Financial Crimes Enforcement Network’s (FinCEN’s) 314(a) list.
• Succinctly and clearly summarize potential match escalations (including conducting additional research) accordingly and thoroughly document the resolution.
• 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 on workflow and project when needed.

Knowledge, Skills, And Abilities

• Must possess a demonstrable knowledge of enterprise systems, network, security, and software administration and engineering within a hybrid cloud environment.
• Experience with OFAC sanction screening of various customer types desired (e.g., Money Services Businesses such as money transmitters; pre‑paid card programs; debit card programs: and retail banking customers).
• CAMS certification a plus (may be in‑process at time of hire within specified timeframe of completion).
• Familiarity with OFAC screening within ACH and wire transfer transaction threads.
• Expert level ability to obtain necessary information to classify an escalated OFAC hit as a “match” or “not a match” with minimal guidance and supervision. Ability to make accurate decisions supported by detailed documentation justifying decisions.
• Strong research, analysis, communication, writing, and follow‑up skills. Ability to identify, elevate and resolve a problem.
• 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 time constraints, and to manage time efficiently and effectively.
• In‑depth understanding of compliance and BSA/AML/OFAC regulatory requirements and implications.
• Proficiency in standard Microsoft Suite programs.
• Experience with CGI HotScan’s sanctions screening solution a plus.

Education, Training, And Experience

• Bachelor’s degree or evidence of directly related experience to the role. Master’s degree a plus.
• Minimum of 5 to 8 years in an OFAC screening‑specific role.