Sanctions Enforcement and Exceptions

Job Title: Sanctions Enforcement and Exceptions

Duration: 03 Months with possibility of extension

Location: Montréal QC

Job Description:

Payments and Clearing Solutions (PCS) provides a full array of International and Domestic Cash Management Services (Customer Payments, Financial Institution Transfers, ACH and Check Collection Services) to our international and domestic banking customers and internal departments. Additionally, is responsible for a broad range of monitoring, regulatory screening and reporting functions for operational control and end-of-day reconciliation. PCS processes on a regional platform, where a portion of US activity is processed in Montreal and a portion of Montreal's activity is processed in New York. This is being done for a number of reasons, the most important of which is for business continuity and resiliency. PCS is comprised of the following sub departments: Payments & Level 1 Sanctions, Sanctions Enforcement and Exceptions, Client Support Services, PMO/Orga and Data Governance.

Sanctions Enforcements and Exceptions – The group is responsible for addressing any escalations of messages that are identified as "hits" against the sanctions lists and manages those transactions through completion or escalate them to Level 3.

Candidate Success Factors:

Candidates will be measured on the following four performance drivers, which will dictate how individual impact is considered on the Americas platform:

• Results and Impact
• Leadership and Collaboration
• Client, Customer and Stakeholder Focus
• Compliance Culture and Conduct

Responsibilities:

• 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.
• 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.
• Validate file uploads to our filtering systems to ensure that list changes, additions or deletions are updated to the systems accurately.
• Add/modify/delete entities as requested by the USFS team
• Ensure all payments comply with the cliennt group payment transparency policy.
• 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 minimizing 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 client's operational permanent control framework.
• Prepare and analyze various reports as needed

Minimum Required Qualifications:

Associate/BA degree from accredited college/university.

• 2 – 3 years' experience in OFAC and Sanctions investigation.
• Strong understanding of Regulatory awareness, and the regulations that govern it.
• Proficient knowledge and understanding of the OFAC processes and procedures.
• Knowledgeable of Funds Transfer operations as well as the rules and regulations that govern it.
• (This will include CHIPS, Fedwire, SWIFT, LYNX and ACH).
• Excellent communication, verbal and written skills, as well as, attention to detail and accuracy.
• Self-motivated and ability to multi-task in a high-volume and fast-paced environment.
• The candidate must possess knowledge and basic understanding of MS Word, MS Excel, MS Outlook, MS PowerPoint

Preferred Qualifications:

• ACAMS/ACSS certified. Thanks a lot for your time. Look forward to talking to you soon.