Sanctions Enforcement and Exceptions - OFAC Specialist
Department Team Leader
MISSION AND OBJECTIVES
Payments & Clearing Solutions is responsible for the processing of incoming and outgoing wire transfers on a Regional platform for a variety of currencies. The area provides a full array of Cash Management Services on an around-the-clock basis to the Bank’s customers.
In compliance with various regulatory programs, our Sanctions Enforcement and Exceptions Group (SEE) is responsible for reviewing, researching and investigating transaction activity with potential sanctions concerns for regulatory compliance.
• Perform a Level 2 review of transactions that are referred to the OFAC Exception queue for potential sanctions violations.
• Manage the OFAC Exception queues in order to ensure our deadlines are being met.
• Conduct investigation on payments that need to be held for regulatory reasons pending additional information.
• Conduct investigation on payments that are held by the next bank in chain for regulatory reasons.
• Ensure adherence to all external regulatory and internal policy guidelines as dictated by the position.
• Perform other support operations functions to other areas within the bank as required.
• Review and analyze wire transfers, ACH payments and non-payment SWIFT messages escalated by Level 1 for potential sanctions violations.
• Ensure that all transactions escalated for Level 2 review are compliant to all external and internal regulations and policies.
• Investigate and collect required information on payments that are held by the bank in adherence to various policies and regulations.
• Investigate and collect required information on payments that are held by the next bank in chain for regulatory reasons.
• Monitor case investigations making sure that proper follow-up is being made and responses are being addressed in a timely manner.
• Analyze information obtained from case investigations to make a clear determination on the proper course of action to be taken on the payment.
• Ensure that payments held are effected properly in accordance to the outcome of the investigation.
• Validate file uploads to our filtering systems to ensure that list changes, additions or deletions are updated to the systems accurately.
• Participate in the department’s educational program through tutorials, training sessions, etc.
• Ensure SEE operations are conducted in the safest and most efficient manner possible.
• Maintain the highest possible regulatory standards of quality, while minimising risk to both the Bank as well as to our customers.
• Make recommendation for procedural changes where deemed necessary.
• Keep abreast of changes, both regulatory and operational, which will have an impact on the department and the Bank.
• Work closely with the U.S. and Group Financial Services, Legal and the Treasury in performing wire transfer searches or handling regular case investigations when deemed necessary.
• Communicate with our customers and clients to expedite investigations.
• Escalate complex case investigations to the Team Leader.
• Extended hours/holidays may be required at times to meet operational needs.
• Make direct contribution to BNPP operational permanent control framework.
TRAINING AND OCCUPATIONAL EXPERIENCE
• Strong understanding of Regulatory awareness, and the regulations which govern it.
• Proficient knowledge and understanding of the OFAC processes and procedures.
• Knowledgeable of International wires transfers, SWIFT and local clearing systems.
• Knowledgeable of Funds Transfer operations as well as the rules and regulations which govern it.
• Excellent communication skills, both verbal and written in English and French.
• Excellent attention to detail and accuracy.
• Self-motivated and ability to multi-task in a high-volume and fast-paced environment.
Required PC proficiencies
• The candidate must possess knowledge of accounting and basic understanding of MS Word, MS Excel, MS Outlook and Intellimatch.
A recruitment policy that promotes equity and diversity:
Equity and diversity are at the core of our recruitment policy because we believe that they foster creativity and efficiency which in turn increase performance and productivity. We strive to reflect the society we live in, while keeping with the image of our clients.
We pride ourselves in applying non-discrimination rules to all our recruitments.
We will only contact the candidates selected who meet the job requirements in terms of training and experience.
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 195,000 employees, including more than 148,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
About BNP Paribas in Canada
In Canada, BNP Paribas is one of the dominant foreign banks in the country and is committed to building its platform even further. Since becoming the operational hub for the Group’s activities in North America in 2013, it has grown significantly to reach more than 700 employees and is expected to continue growing in the coming years. With the continued development of technology and financial fields, BNP Paribas Canada continues to attract experts with diverse backgrounds as well as young and ambitious talent from across the globe. With the international mobility and capacity that very few companies can offer, BNP Paribas prides itself in providing a superior foundation for building a professional career - a place for people to learn, to achieve and grow.