Sanctions Officer

Job Purpose

The jobholder is responsible for reviewing Sanctions escalations as an escalation point within the service level parameters, mitigating compliance risks by applying ownership with a high degree of attention and ensuring accuracy.

Principle Accountabilities

• Independently reviewing Sanctions alerts in accordance with the CBD Sanctions alert discounting procedures as a final escalation point.
• Assist in the process review and enhancement related to the referral, escalation, and resolution of Sanctions alerts.
• Assist and support in advising business units relating to compliance with international Sanctions regimes and associated risks to create a strong compliance culture.
• Assist to mitigate sanctions compliance risks, foster a compliance culture in the Bank and optimize relations with the Regulators, Correspondent banks, protect the reputation of the Bank, comply with applicable Sanction policies, standards & local laws & regulations.
• Review dual use of goods alert and/or export control restrictions in conjunction with the assessment and information provided by the Trade Operations.
• Maintenance of red flags record.
• Closely coordinating with Compliance, Operations for smooth processing of transactions.
• Strong analytical and problem-solving skills and the ability to provide viable solutions in a time-sensitive environment.
• Providing guidance and support to businesses or organizations regarding international trade sanctions.
• Evaluating potential risks and implications for businesses engaging in international trade, considering sanctions imposed on countries, individuals, or entities.
• Conducting training sessions and workshops to educate employees within an organization about trade sanctions, their implications, and best practices for compliance.
• Additionally, the specific responsibilities may vary depending on the evolving Sanctions regulations.
• Ensure alerts are reviewed in a timely manner and in line with documented processes.
• Ensure that banks Sanctions Risks are evaluated and documented

Experience and Qualifications

• 5 years of experience in the banking/financial services sector with a minimum of 3 years in Sanctions advisory function
• Bachelor’s Degree as a minimum from a recognized university

Skills

• Good written and oral communication.
• Report writing skills.
• Must have a background of performing Sanctions screening against OFAC, EU, UN, UAE and OFSI Sanctions regime.