Valley Bank Job - 50592979 | CareerArc
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Company: Valley Bank
Location: Morristown, NJ
Career Level: Associate
Industries: Banking, Insurance, Financial Services

Description

Responsibilities include but are not limited to:

  • Perform due diligence on OFAC Sanction Screening hits generated from a variety of sources.
  • Investigate possible hits and escalate for further review and approval to management.
  • Distribute updated OFAC lists to various business units and ensure all searches are performed timely.
  • Perform OFAC screening of Bank's customer database when OFAC list is updated.
  • Perform annual OFAC screening of Bank's customer database.
  • Ensure all new Bank vendors have been OFAC screened by the respective business units and are added to the Bank's customer database for ongoing screening.
  • Handle investigations related to real-time wire transfer inquiries related to OFAC.
  • Prepare and distribute reports to management regarding blocked and rejected transactions.
  • Monitor OFAC website for updates. Create and disseminate OFAC bulletins to the Bank's business lines and ensure appropriate compliance response to any changes to OFAC requirements or new sanctioned parties.
  • Participate in ad-hoc projects on an as needed basis.


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