Valley Bank
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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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