Director, Sanctions America & IB Head OFAC Officer

  • Base salary, bonus and excellent benefits
  • New York, NY, USA
  • Permanent, Full time
  • The Forum Group
  • 19 Nov 18

The Americas and Investment Bank Sanctions Head / OFAC Officer role is to provide advice, direction and leadership on all economic sanctions matters pertaining to the Investment Bank globally and all business units within the Americas, including the New York Branch. The role supervises both the Global IB sanctions team and the Americas region. The role also serves as the primary point of contact with OFAC.

Main Duties and Responsibilities

  • Provides accurate, timely and balanced advice on U.S., UK, EU, and UN sanctions requirements and Firm's policy to businesses within the Americas as well as the Investment Bank business globally
  • Maintains a detailed knowledge and understanding of the Sanctions Control Framework and drives effective oversight over it by a variety of means, including review of management information
  • Oversees preparation of sanctions risk assessments for the Americas region as well as the Investment Bank globally
  • Serves as primary point of contact on internal audit and monitoring and testing of the Americas and Investment Bank sanctions control framework
  • Promotes the awareness of sanctions issues amongst Americas and IB employees and leadership as well as Legal, including by delivering face-to-face training
  • Builds strong and productive relationships with the business and relevant Compliance teams
  • Maintains up-to-date knowledge of the law and practice of all US, UK, EU, and UN sanctions regimes, as well as financial industry implementation practices
  • Serve as active member of Sanctions Senior Leadership Team

Advisory

  • Provide timely, nuanced advice to all stakeholders regarding the application of US, UK, EU, and UN sanctions to Firm's business globally, including the sanctions implications of transactions/deals, payments, and customer/vendor/employee relationships
  • Work with the business and other stakeholders to ensure that sanctions advice is grounded in a fulsome understanding of the product/relationship/process involved
  • Proactively engage the business and other stakeholders, including by regularly developing and providing guidance/updates and training

Policy / Risk

  • Within the boundaries set by the Group Sanctions Policy, use subject matter expertise and commercial experience to set the Americas (especially New York Branch) and Investment Banking risk appetite on sanctions issues, including decisions on customers, payments, transactions and deals
  • Challenge requests for deviations from standard and using knowledge and awareness of the Group Policies and Corporate Banking risk appetite
  • Identify and implement changes to existing Standards / procedures and new Standards where emerging risks, business change or feedback from issues warrant

Leadership / Relationship

  • Supervise the Americas and Global IB sanctions team of dedicated financial crime sanctions officers based in New York and London
  • Build trusted relationships with key Americas and IB stakeholders to obtain support and understanding of the objectives of the Sanctions team and the control frameworks and embed a culture of compliance on Sanctions issues
  • Develop strong rapport and mutual respect with the Central, Europe/Middle East, and Asia-Pacific Sanctions teams and AML teams to facilitate constructive dialogue on significant issues and new developments
  • Create and maintain a supportive culture between Financial Crime and Business Legal teams and the Sanctions team while retaining functional responsibility

Basic Qualifications

  • Four-year college degree
  • 5+ years of experience with economic sanctions law and practice
  • 5+ years of experience in regulatory compliance and risk management