VP-Head of Sanctions

As the Head of Sanctions, you will lead the sanctions compliance program to ensure thebank's adherence to U.S. sanctions laws and regulations. This leadership role involves developing and implementing strategies, standards and controls to manage sanctions risks across all business units and the Bank's third-party program managers. The ideal candidate will possess extensive experience in sanctions compliance, a strong understanding of U.S.and global regulatory requirements, and exceptional leadership and strategic skills.Responsibilities:• Develop the sanctions compliance strategy across the bank and oversee the design, implementation, and maintenance of sanctions compliance programs, including risk assessments, due diligence, and monitoring.• Develop and enforce policies and standards to ensure compliance with U.S. and international sanctionsregulations, including OFAC, UN, and other relevant authorities.• Serve as a business advisor representing the sanctions compliance program throughout the organization and the Bank's third-party partners and program managers.• Work with appropriate stakeholders to remediate controls gaps, ensuring that the bank's sanctions screeningsystems and controls are robust, up-to-date, and effective in identifying and managing risks. to remediate controlgaps.• Oversee investigations into potential sanctions violations and coordinate appropriate actions, including reporting to OFAC, regulators and taking corrective measures.• Monitor and analyze emerging sanctions trends and geopolitical developments to assess potential impacts on the bank's operations.• Serve as the primary point of contact for sanctions matters with regulatory agencies, including OFAC.• Manage responses to regulatory inquiries and audits, ensuring timely and accurate information is provided.• Stay abreast of laws, regulations, U.S. executive orders, OFAC designations, and related regulatory announcements for business impacts.• Assist in testing and audits of sanctions compliance program and periodic OFAC and sanctions risk assessments to identify enhancement opportunities and potential procedures.• Evaluate and improve sanctions compliance processes and systems to enhance effectiveness and efficiency.Skills and Abilities:• Strong strategic thinking, leadership, and decision-making skills, with a demonstrated ability to influence senior stakeholders.• Ability to make thoughtful and critical decisions that impact the team members, department, and the organization.• Excellent analytical and problem-solving skills, with a keen understanding of risk management and mitigation strategies.• Exceptional communication skills, both written and verbal, with the ability to present complex information clearly and persuasively.Education, Training, and Experience:• Minimum requirement of a bachelor's degree with a preferred focus in Finance, Law, Economics, InternationalRelations, or a related field; advanced degree or professional certification (e.g., CAMS, CFE) preferred.• Minimum of 8 years of experience in sanctions compliance, with at least 5 years in a senior leadership role.• Extensive knowledge of sanctions regulations, including OFAC and other relevant authorities.• Experience in Retail Banking, FinTechs, MSB's, international payments and card products is preferred.• Proven experience in managing large, global compliance teams and complex regulatory environments.

Created: 2024-11-17