Associate Director, FCR, Sanctions

Job Summary

The US Sanctions Program Management & OFAC Reporting Team oversees regulatory policy, interprets sanctions laws, and advises business partners on compliance and is the point of contact for supervisory sanctions-related queries, OFAC and law enforcement subpoenas, and regulatory reporting, including block and reject reports and Voluntary Self Disclosures (VSDs). The team also manages SC NY’s Antiboycott compliance, the CDD Sanctions Risk Assessment, Group List Management Oversight, and governance of Americas Sanctions Procedures and Exam Management.

The Associate Director is responsible for advising business and control functions on complex financial sanctions issues to ensuring compliance with the Banks Sanctions Policy & Standards and external regulatory requirements, including the US, UK and EU as well as managing the US Anti-Boycott Compliance Program.

• Provide timely regulatory and compliance advice to business and control units on the interpretation and application of regulatory expectations, laws, best practices, and SC’s Sanctions Policy & Standards.
• Analyze comprehensive impact of sanctions related regulatory matters on relevant business area(s) and its operations, including Non-Compliant Transactions.
• Manage the US Anti-boycott Compliance Program, acting as the primary point of contact with the Bureau of Industry and Security, including oversight of enquires, provision of advice and preparation and submissions of regulatory reports.
• Ensure key changes (to laws, rules, regulations) are implemented (in region/country), in coordination with Group communications.
• Oversee the US Sanctions List Management process, ensuring appropriate governance, maintenance, and alignment with regulatory requirements and the Bank’s Sanctions Policy & Standards.
• Review and approve client sanctions risk assessments as part of the Customer Due Diligence and onboarding process.
• Escalate potential violations of internal and/or external requirements, ensuring reporting to OFAC and/or other government agencies, if deemed necessary.
• Monitor and interpret regulatory developments, enforcement actions and industry guidance related to US Sanctions Compliance and Anti-Boycott Compliance Regulations, as well as internal policy developments and assess the impact on the bank’s operations and drive implementation of necessary policy or control changes.
• Collaborate with global and regional sanctions teams to ensure consistent execution of the Bank’s Sanctions Policy & Standards and regulatory requirements.
• Design and deliver Sanctions Compliance and Anti-boycott Compliance training to relevant stakeholders.
• Contribute to external exams and internal audits and management reporting related to sanctions and Anti-boycott Compliance.
• Support the Departmental Operating Instructions reviews.
• Attend and represent the US Sanctions Team on sanctions compliance forums/committees/working groups as necessary.

• Expert in US Sanctions Regulations
• Knowledgeable in UK Sanctions regulation
• Knowledgeable in BISExport Regulation
• Expert in Anti-boycott compliance regulations
• Compliance Policies and Standards
• Compliance Advisory
• Regulatory Reporting and Filing
• Investigations
• Manage Conduct
• Manage Risk
• Manage People
• Spot Opportunities
• Solve Problems
• Take the Lead
• Build Resilience
• Collaborate
• Communicate
• Deliver Sustainably
• Achieve Results
• 7+ years of relevant work experience in Sanctions Compliance
• ACAMS certification or industry equivalent required

We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you.

You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are…