Job Description – Level 1 OFAC Analyst
UBA America, New York, United States (On-site)
TITLE: OFAC Analyst
DEPARTMENT: OFAC
LOCATION: New York-USA - Onsite
FLSA STATUS: EXEMPT
Position Overview
We have an exciting opportunity for a Level 1 OFAC Analyst to join our dynamic team and play a pivotal role in shaping the financial strategy of one of the most unique foreign banking institutions in the United States.
Reporting directly to the Head of OFAC, you'll work within one of the most highly regulated banking environments while supporting strategic growth initiatives across the Africa-US economic corridor. This position demands a 1st level monitoring and assessing compliance risks daily. The incumbent of this position shall be responsible for adhering to the provisions stated in the Employee Accountability Policy Statement.
This is an exceptional opportunity for a seasoned finance professional to make a meaningful impact in international banking while advancing their career within our global network.
About UBA Group & UBA America
United Bank for Africa (UBA) is a leading pan-African financial services group with over 75 years of banking excellence, operating across 20 African countries and key global financial centers including the United States, United Kingdom, France, and UAE. With over 45 million customers served through 1,000+ branches and extensive digital channels, UBA is "Africa's Global Bank."
UBA America is a member of the US Federal Reserve System and regulated by the Office of the Comptroller of Currency (OCC), we have been the trusted gateway between Africa and North America for nearly four decades. Our Strategy is to facilitate trade, capital, and development flows between Africa and the rest of the world, positioning us as the preferred financial services partner for corporations, financial institutions, and development organizations doing business in and with Africa.
Key Responsibilities
- Accountable for job performance actions, which includes decision(s) impacting position responsibilities conforming to the bank’s risk appetite and tolerance levels as articulated in the bank's Risk Appetite & Tolerance Framework, mitigating violations or breaches to the bank’s risk appetite in the exercise of their empowerment and the achievement of desired job performance outcomes as directed by Management.
- Review cases in the Transaction Monitoring System (TMS) matches against negative lists such as OFAC.
- Review alerts/cases generated by the TMS when rule thresholds are crossed or when questionable activity referrals are received.
- Conduct investigations on alerts/cases that bear indicia of money laundering and related risks or those that may be a match on negative lists. This includes issuance of requests for information.
- Prepare internal and external reports including SARs in accordance with internal policies.
- Review adverse news database and update the log.
- Prepare and update profiles in the TMS on customers, transaction counterparties, beneficial owners and other affiliated persons/entities in line with internal guidelines.
- Assist the Compliance Manager or the Head of Compliance with preparation of risk assessments, etc.
- Verify/test that changes made to negative lists are successfully uploaded to the TMS.
- Assist the Compliance department in other activities and projects from time to time.
- Serve as back-up to Compliance team members during absences. Cross-functional training will be provided prior to assigning such tasks.
Required Qualifications
- Minimum 2 years of relevant experience in commercial banking, preferably within a Foreign Banking Organization (FBO) or international bank in the USA
- Bachelor’s degree required.
- ACAMS certification is required.
- Demonstrated track record of advancement to senior finance management roles
Technical Expertise
- Familiarity with TMS;
preferably, Prime Compliance Suite. - Strong working knowledge of Microsoft Word, Excel, Power Point;
Lexis-Nexis, World - Check, Banker’s Almanac, etc.
- Strong internet search capabilities.
Preferred Qualifications
- Experience:
- Minimum of 2 years of relevant experience.
- Knowledge of regulations such as the Bank Secrecy Act (including the USA PATRIOT Act), OFAC sanctions programs, etc.
- General:
- Detail-oriented individual with ability to conduct in-depth research and possess strong communication skills.
- Strong analytical skills.
- Must be able to demonstrate strong writing capabilities.
- Ability to work in a team environment, as well as independently.
- Must be well-organized and capable of performing multiple tasks simultaneously.
- Ability to prioritize and use sound judgment.
- Excellent ability to work independently as well as part of a team.
- Education & Qualifications:
- Bachelor’s degree required.
- ACAMS certification is required.
- PC skills:
- Familiarity with TMS;
preferably, Prime Compliance Suite. - Strong working knowledge of Microsoft Word, Excel, Power Point;
Lexis-Nexis, World-Check, Banker’s Almanac, etc. - Strong internet search capabilities.
What We Offer
- Competitive salary commensurate with experience
- Comprehensive benefits package
- International exposure - Work within a global banking network spanning 24 countries
- Professional growth in one of the most regulated and respected banking environments
Work Environment & Culture
- Values-driven culture built on our core principles: Enterprise, Excellence, and Execution (the 3 Es)
- Enterprise mindset: take initiative, solve problems, break barriers, and drive innovation
- Excellence standard: surpass expectations, maintain meticulous attention to detail, and uphold the highest professional integrity
- Execution focus- get things done efficiently, effectively, and with the end goal always in mind
- Collaborative, inclusive environment that values diversity and promotes professional growth
- Direct impact on facilitating economic growth and development between Africa and North America
Core Skills:
- Analytical Skills: The ability to critically analyze information, identify red flags, and assess the risk associated with potential sanctions violations.
- Attention to Detail: A high level of accuracy and attention to detail is crucial for reviewing transactions, investigating matches, and ensuring compliance.
- Communication Skills: Strong written and verbal communication skills are needed to communicate findings to senior staff, collaborate with other teams, and explain complex regulations.
- Time Management and Prioritization: The ability to manage multiple tasks, prioritize effectively, and meet deadlines in a fast-paced environment.
- Critical Thinking: The capacity to assess complex situations, identify potential problems, and develop effective solutions.
- Problem-Solving: The ability to troubleshoot issues, investigate potential violations, and find appropriate solutions.
- Risk Management: Understanding and mitigating financial risks associated with sanctions violations.
**Specific duties and responsibilities may vary based upon departmental and Bank needs. Other duties may be assigned similar to the above consistent with the knowledge, skills and abilities required for the position.
UBA America is an Equal Opportunity Employer