GENERAL SUMMARY:

Under the direction of the Sanctions Compliance Manager, the Sanctions Analyst will aid in maintaining Sanctions Compliance for Manufacturers Bank. The associate has responsibilities for overseeing the process under their managers remit including drafting reports to the applicable sanctions regulators, regulatory change management, and giving advice to multiple different business units. Associates may be involved in performing assignments in the absence of the VP and ensures compliance in accordance with regulatory requirements Bank Secrecy Act/Anti Money Laundering/Office of Foreign Assets Control (BSA/AML/OFAC), SMBC policies and procedures.

The Associate follows established guidelines to identify and resolve problems and proactively recommends solutions to improve processes where guidelines may not have been developed. The Associate acts as an SME for department and across other functions, and as an independent contributor or as part of a larger team. The Associate is expected to contribute to workflow, process changes and redesign as warranted. The Associate is required to form a strong understanding of US sanctions related rules and regulations. The Associate may support the day-to-day work of other teams within the Sanctions Compliance team function, and function as a delegate in replacement of a V.P. This position may also provide support to the Analytics Team to effectively update, tune and optimize sanctions filtering system. The associate must possess solid business acumen, natural curiosity, and the ability to effectively shift between communications styles based on the audience.

PRINCIPAL DUTIES & RESPONSIBILITIES:

• Provides subject matter expertise and timely guidance about sanctions matters to stakeholders both within the branch and to other affiliates as necessary.
• Acts as a lead for the process in the Sanctions Department. Ongoing, assists the VP with day-to-day workflow management, performance, and management of assigned staff; maintains and enhances Advisory department processes and tasks.
• Ensures compliance with all regulatory practices outlined by Compliance Department of Americas Division (CPAD), BSA/AML/OFAC and with Bank policies and procedures. Provides management and guidance to assigned team members in scope for regulatory change management process.
• Performs due diligence on alerted transactions escalated by Level 1 and Level 2 teams on ad hoc basis. Records decision-making on different escalations which can includes but not limited to requests from different SMBC business units, and transactional or customers and affiliated parties related alerts.
• Ensures completion of requests from BSA/AML/OFAC Compliance Officer in relation to conditional approvals or other requirements.
• Prepares overview of significant regulatory changes.
• Prepares reports and other materials as required in response to inquiries from internal and external auditors, bank departments, and regulators. Provides timely updates of internal bank policy changes, new regulatory compliance requirements, and makes recommendations for the Sanctions Compliance team.
• Prepares OFAC reject/block reports and participates in submission of the Annual Report of Blocked Property.
• Performs additional, targeted research on certain parties to determine a sanctions nexus, make recommendations or take steps to propose watchlist entries to benefit screening controls.
• Ensures business continuity under all conditions, sometimes adverse, with strict adherence to established guidelines and deadlines.
• Maintains ongoing contact with branches and compliance counterparts throughout the enterprise.