Analyst - OFAC Specialist

  • Analyst Level Opportunity
  • Woodbridge, NJ, USA
  • Full time, Permanent
  • BNP Paribas
  • 16 Oct 17

Business Overview: Payments and Clearing Solutions is responsible for the processing of incoming and outgoing wire transfers on a Regional platform for a variety of currencies. The area provides a full array of Cash Management Services on an around-the-clock basis to the Bank’s customers. In compliance with various regulatory programs, our Sanctions Enforcement and Exceptions Group (SEE) is responsible for reviewing, researching and investigating transaction activity with potential sanctions concerns for regulatory compliance.

• Review and analyze wire transfers, ACH payments and non-payment SWIFT messages escalated by Level 1 for potential sanctions violations.
• Ensure that all transactions escalated for Level 2 review are compliant to all external and internal regulations and policies.
• Investigate and collect required information on payments that are held by the bank in adherence to various policies and regulations.
• Investigate and collect required information on payments that are held by the next bank in chain for regulatory reasons.
• Monitor case investigations making sure that proper follow-up is being made and responses are being addressed in a timely manner.
• Analyze information obtained from case investigations to make a clear determination on the proper course of action to be taken on the payment.
• Ensure that payments held are effected properly in accordance to the outcome of the investigation.
• Validate file uploads to our filtering systems to ensure that list changes, additions or deletions are updated to the systems accurately.
• Participate in the department’s educational program through tutorials, training sessions, etc.
• Ensure CMO’s s SEE operations are conducted in the safest and most efficient manner possible.  
• Maintain the highest possible regulatory standards of quality, while minimizing risk to both the Bank as well as to our customers.
• Make recommendation for procedural changes were deemed necessary.  
• Keep abreast of changes, both regulatory and operational, which will have an impact on the department and the Bank.
• Work closely with the U.S. and Group Financial Services, and Legal in performing wire transfer searches or handling regular case investigations when deemed necessary.
• Communicate with our customers and clients to expedite investigations.
• Escalate complex case investigations to the Team Leader.
• Extended hours/holidays may be required at times to meet operational needs.
• Make direct contribution to BNPP operational permanent control framework

Minimum Required Qualifications:
• Bachelor’s degree required
• Knowledgeable of International wires transfers, SWIFT and local clearing systems.
• Knowledgeable of Funds Transfer operations as well as the rules and regulations which govern it.
• Excellent communication skills, both verbal and written.
• Excellent attention to detail and accuracy.
• Self-motivated and ability to multi-task in a high-volume and fast-paced environment.

Preferred Qualifications:
• 2+ years’ experience in compliance/regulatory review in the banking industry
• Strong understanding of Regulatory awareness, and the regulations which govern it.
• Proficient knowledge and understanding of the OFAC processes and procedures.