The Financial Intelligence Unit (FIU) Specialist/Sanctions supports South State Bank, N.A.’s enterprise wide BSA/AML/Sanctions Program to ensure all regulatory requirements are met related to compliance with the bank’s OFAC/Sanctions requirements as well as USA Patriot Act section 314(a) requirements. Processes include reviewing and investigating customers and transactions subject to regulatory driven sanctions lists or internally developed watch lists. Assist with various functions within the FIU department, such as case management, project implementation, and other tasks assigned by the bank’s Chief BSA Officer.
- Monitor compliance with OFAC/Sanctions requirements, policies, procedures, and processes throughout the organization.
- Review OFAC/Sanctions failures resulting from automated scans and ensure failures are properly resolved according to bank policy and procedures.
- Review for quality control new accounts and loan renewals for compliance with the bank’s OFAC/Sanctions; track exceptions; prepare and distribute reports related to reviews.
- Review and provide vetting approval for new loans and renewals submitted for FIU approval for compliance with the bank’s OFAC/Sanctions requirements.
- Identify any relationships/accounts that require blocking; notify assigned BSA/AML Manager of all identified accounts.
- Monitor the regulatory and sanctions environments, and assist in ensuring significant events impacting South State Bank, N.A. are addressed as appropriate
- Ensure that information sharing requests under 314(a) are processed in all applicable business lines throughout the enterprise pursuant to the regulation and review any resulting alerts to determine whether any are a positive match.
- Ensure any 314(a) positive matches are reported as required.
- Act as a technical resource for the various business lines for matters pertaining to OFAC/Sanctions.
- Notify appropriate personnel through submission of the Unusual Activity Referral Form of any identified potential unusual or suspicious activity immediately.
- Assist in projects or other tasks as may be assigned related to BSA/AML and OFAC.
- Maintain proficiency in all aspects of BSA/AML/Sanctions compliance; attend BSA training as assigned by the Chief BSA Officer.
- Assist in timely maintenance of records in accurate and auditable format
- Adhere to all provisions of South State Bank, N.A. policies and procedures, including the confidentiality policy, code of ethics and BSA/AML/OFAC policies and procedures.
- Other duties and responsibilities may be assigned, according to the needs of the Department and the Bank
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Requires strong knowledge of personal computer, Microsoft Office and other software used in department.
- Self-motivated, dependable, adaptable and detail-oriented individual with analytical, writing and organizational skills.
- Ability to write business correspondence.
- Must have good knowledge of business English, spelling, and punctuation.
- Requires knowledge of office practices, procedures, and general office machines.
Qualifications and Education Requirements
- In-depth knowledge of BSA/AML/Sanctions regulations
- 2 years minimum of related Sanctions experience
- Knowledgeable in U.S. economic and trade sanctions programs and requirements of 314(a) Information Sharing
- Familiarity with commercially available interdiction software packages highly desirable
- Familiarity with bank operations in general
- Self-motivated, dependable, adaptable and detail-oriented individual with analytical, writing and organizational skills
- Ability to read, analyze and interpret Federal and State banking regulations related to the Bank Secrecy Act and Anti-Money Laundering
- Basic computer skills (spreadsheet and word processing); knowledge of and ability to use internal bank systems, a plus; self-starter; excellent written and oral communication skills; excellent organizational skills.
Required annual compliance training.
RECOMMENDED ADDITIONAL TRAINING
New Employee Orientation
This position has no supervisory responsibilities.
PHYSICAL DEMANDS/WORK ENVIRONMENT
- No unusual physical demands required for this job.
- Must be able to do sedentary work.
- May occasionally lift up to 25 pounds to perform job.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The position may require the ability to work before or after normal business hours to attend various employee meetings, training sessions, and community events supported by the Bank, to include evenings and weekends.
- Must be accustomed to professional, business office environment in manner and dress.
- Must demonstrate excellent human relation skills with customers and bank associates.
- Must be willing to participate as a team member