Associate, OFAC Analyst

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Compliance Full Time Compliance New York, NY, US

2 days ago Requisition

Salary Range: $75,000.00 To $90,000.00 Annually

JOB SUMMARY
:

CFSB (Community Federal Savings Bank) is a federally chartered financial institution that provides banking and payment solutions for consumers, businesses, and fintech partners. The bank specializes in supporting embedded finance, Banking-as-a-Service (BaaS), and payment processing while offering traditional banking products such as deposit accounts and lending services. CFSB is recognized for its strong regulatory and compliance focus, partnering with innovative financial technology companies to deliver secure, scalable financial services in a highly regulated environment.

Within the OFAC Team of the Financial Intelligence 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 Fin Tech companies serviced by CFSB.

In this role, you 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:

• Conduct sanctions screening of real-time and post-transactional alerts in the Bank's automated sanction screeningsolutionforpotentialviolationsofOFACandothergovernmentalsanctions.
  
  Investigate potential matches and true positive hits; elevate for further review and approval as required by procedure
• ReviewdailymanualreportsforOFACscreening,documentingthereviewsandreportingfindingsto management as necessary.
• Identifypotentialmatchesthatwarrantadditionalresearch;escalatepotentialsanctionsviolationsand/or reputational/financial risks accordingly and document the resolution.
• Ensureescalationofalertsareproperlyhandledanddocumentedaccordingtoprocedures
• Interactwithotherdepartments/linesofbusinessonresolutionofissues(e.g.,Operations Department,CFSB clients).
• StayabreastofregulatorychangesandAMLrelatednews,withanemphasisonOFACsanctions-related developments.
  
  Ensure timely completion of all mandatory training requirements.
• Effectivelyutilizeandoperatealltoolsandtechnologyappropriatetotherole.
• Identifypotentialstrategicprocessimprovementsandassistwithimplementation.
  
  Assistotherteamswithin Compliance when needed
• Ensuretimelycompletionofallmandatorytrainingrequirements.

• 1to3yearsinanOFACscreening-specific role
• FamiliaritywithOFACscreeningwithinACHandwiretransfertransactionthreads
• Ability to obtain necessary information to classify an OFAC hit as a "match" or "not a match" with minimal guidanceandsupervision.
  
  Abilitytomakeaccuratedecisionssupportedbydetaileddocumentationjustifying decisions.
• Organized, detail- oriented, self-motivated, and strong communication, writing, and follow-up skills
• Abilitytoliaisebetweeninternalbusinesslinesandexternalvendorsandclients,andtoworkwellboth independently and as part of a team
• Abilitytoworkdependablyandconsistentlyunderteamconstraints,andtomanagetimeefficientlyand effectively
• Strong research,analysis,communication,writing,andfollow-upskills.
  
  Abilitytoidentify,escalateandresolve a problem
• UnderstandingofcomplianceandBSA/AML/OFACregulatoryrequirementsandimplications

Education, Training, and

Experience:

• ExperiencewithOFACsanctionscreeningofvariouscustomertypesdesired(e.g.,Money Services Businesses  such as money transmitters; pre-paid card programs; debit card programs: and retail banking customers).
• Proficiencyinstandard Microsoft Suite programs
• ExperiencewithCGIHotScan'ssanctionsscreeningsolutionaplus

About Community Federal Savings Bank (CFSB)

Community Federal Savings Bank (CFSB) is a federally chartered bank founded in 2001 and headquartered in New York City. CFSB has focused on providing superior service and added value to clients though a solid understanding of relationship banking. We offer a full range of services, including loans, bill payments, card services, internet banking, and merchant processing.

We are an equal opportunity employer and do not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, disability, military and/or veteran status, or any other Federal or State…