Legal & Compliance Department - Sanctions Operations Part-time Staff

Introduction

Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.

Overview

The Sanctions Operations Part-time Staff supports continuous monitoring and transaction review by providing guidance and identifying solutions to business challenges arising in the course of managing sanctions-related risks for real-time transactions. The Sanctions Operations Part-time Staff supports the Vice President of Sanctions Operations in preparing KPI reporting, USSC communications, and communications to Sanctions Operations team staff.

Responsibilities

Include but are not limited to

Sanctions Operations Monitoring

2nd Review real-time payment (determining whether an alert related to wire transfers is a true match to a suspect name or a false match based upon information in payment instruction

If insufficient information is in the wire transfers, open an investigation and request necessary information from ordering bank on daily basis) or Conduct complex investigation of apparent breaches of regulations and/or compliance standards, and escalate findings within Sanctions Team, when required

Conduct sanctions screenings for hits and maintain detailed documentation

Identify sanctions compliance issues/concerns and escalate when necessary

Communicate with the FLUs when payments are identified which are related to entities with previously filed SARs

Conduct periodic audit reviews of FLU’s transactions to ensure full compliance with all applicable sanctions regulations as well as internal policies and procedures

Assist with coordination of response for internal and external sanctions/sanctions-related examinations

2nd Level review summary sheet for each affiliate sampling case

2nd Level review downstream return funds transactions

Update and maintain log of sanctions cases, payments and other related transactions

Sanctions Reports

• Assist in the preparation and completion of sanctions risk assessments and other compliance reviews
• Conduct periodic quality review of sanctions data in system and update as necessary
• Prepare sanctions reports, QC reports and communications
• Prepare status summaries, routine and ad hoc reports
• Participate in special projects and/or other duties as assigned
• Bachelor’s degree is required
• 5 years of work experience in a bank or financial institution in a BSA/AML & SANCTIONS internal control capacity preferred
• Knowledge of U.S. Banking regulations and compliance practices with strong emphasis on all aspects of BSA, AML, and OFAC
• CAMS certification preferred

Pay Range

Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.

USD $31.00 - USD $72.00 /Hr.