OFAC Policy, Communication & Training VP

  • commensurate with experience
  • New York, NY, USA
  • Permanent, Full time
  • Non-disclosed
  • 19 Oct 17 2017-10-19

Purpose: The VP will contribute to OFAC team regarding policy establishment, communication and training

Job Duties:

OFAC Policy

  • Establish a comprehensive policy, based upon law and regulations that mitigate compliance, regulatory, and reputational risks associated with violations of sanctions laws and the risk of conducting business with a sanctioned entity.
  • Policy to be established will:
    • Clearly Define Roles and Responsibilities, and Authorities
    • Bank of China’s commitment to comply with Target and Country sanctions regimes,
    • Define interdiction software and list management
    • Establish Customer standards and approvals
    • Establish Customer tolerance levels for customers conducting Business indirectly or directly in sanctioned countries.
    • Application Validation standards
  •         Establish escalation and management routines.
  •         Establish Information sharing rules
  •         Establish algorithm standards
  •         Establish policy and procedure breach routines, and
  •         Reporting and information sharing with Law enforcement
  •         Define program element ownership
  •         Define a waiver process

 

OFAC Communication and Training

  • Ensure effective awareness a global enterprise communication email process will be established to communicate sanction program changes.
  • Establish general and targeted training programs. (Training to be given by existing staff complimented by the sanctions organization.)
  • Update training material when sanction programs change.
  • Facilitate briefing sessions with Line of Business and senior management of significant changes.
  • Establish and coordinate monthly Sanctions Governance meetings.

 

Requirements:

5-9 years banking industry and BSA/AML & OFAC internal control. CAMs preferred

General Skills:

Business acumen; communication skill, creative problem solving; leadership and management; analytical skill; writing skill; technical skill; project management; relationship management; team work; planning and organizing; coaching.

General Knowledge:

Knowledge of Sanction policy and OFAC, knowledge of U.S. Banking regulations and compliance practice, compliance risk management, and BOC Risk Governance Framework.

Specialty Knowledge

Knowledge of U.S. Banking regulations and compliance practice with strong emphasis on all aspects of BSA, AML and OFAC. Comprehensive knowledge of BSA/AML and OFAC related regulations and ability to implement the banks policies and procedures.