SVB-Sanctions​/OFAC- Enhanced Due Diligence Associate

Overview

This is a hybrid role that may only be hired in the following locations:
North Carolina, Arizona, Texas or Chicago. SVB’s First Line of Defense Enhanced Due Diligence Know Your Customer (  KYC ) team is responsible for conducting EDD on higher risk client segments that may pose a higher risk for money laundering, terrorist financing, sanctions, or reputation risk in support of all legal and regulatory requirements as a large financial institution. Serving a key role within the First Line function, you will partner with the Business and engage directly with clients and prospects.

As a Sanctions Enhanced Due Diligence Associate, you will be a part of SVB’s First Line of Defense EDD Team tasked with leading OFAC/Sanctions due diligence reviews of existing clients and prospects, ensuring that they are compliant with the Bank’s Risk Appetite, and any/all applicable sanctions regulations. Sanctions Due Diligence reviews require performing extensive research using open source, proprietary, and third-party tools, reviewing sanctions adverse media, leading client due diligence calls, drafting client specific outreach questions, liaising with numerous teams across the Bank (e.g., Relationship Teams, Onboarding, Underwriting, etc.),

and conducting a comprehensive risk analysis to assess a broad spectrum of sanctions risk. Draft high-quality, thoroughly researched sanctions risk analysis as well as governance documentation (e.g., program and procedure documents). Maintains knowledge of laws and regulations, particularly US and international sanctions programs and foreign policy issues, through ongoing research and industry involvement. Demonstrate subject matter expertise by acting as a trusted resource and assist in developing and delivering sanctions training on new or emerging sanctions/trade risks.

Partnering with key stakeholders across the Bank  platform, including relationship, product teams, and Sanctions Compliance is critical, along with comfortability around messaging complex risks across various business units. This role sits within the Bank  First Line of Defense and works directly with the Commercial Bank Business Units and requires collaboration and a strong working dynamic across the FLOD EDD KYC Team.

• Enhanced Due Diligence 20 3 Perform thorough EDD Sanctions reviews on new and existing clients, ensuring compliance with regulatory requirements and internal policies. Conduct in-depth analysis of client profiles, business activities and ownership structures to assess sanctions, terrorist financing and other financial crime risks. Review and verify client documentation including identification documents, financial statements, and transaction records to ensure accuracy and completeness of KYC information.
  
  Assist clients and prospects in establishing the proper sanctions control environment to ensure compliance with the Bank  requirements and serve as an advisor to the business units you engage with.
• Regulatory Compliance 20 3 Serve as Sanctions Subject Matter Expert and ensure compliance with regulatory requirements, industry standards and best practices related to EDD, KYC, BSA, Sanctions and AML regulations. Document and maintain accurate records of due diligence reviews, including findings, decisions, and supporting documentation in accordance with internal policies and regulatory standards. Partner with Compliance, Internal Audit, and other departments to respond to examinations and audit requests, manage execution and implementation of action plans, and ensure all processes and changes implemented fully comply with applicable regulations and legislation, standards, policies, and guidelines.
• Risk Analysis 20 93 Lead and champion efforts on identifying and managing existing and emerging risks identified through reviews, and ensuring these risks are effectively assessed, communicated, and controlled. Conduct assessments and profiling of clients based on their risk factors including business type, transaction volume and geographical location. Analyze client transactions and account activity to identify red flags indicative of potential financial crimes, known…