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.