OFAC Analyst

Company Description

Israel Discount Bank of New York, also known by its registered service mark, “IDB Bank”, is a full service commercial bank chartered by the State of New York and a member of the Federal Deposit Insurance Corporation (FDIC). Our liquidity and capital ratios are strong, and we are ranked by Crain’s New York Business as the 14th largest commercial bank in the New York area. the Bank provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex, sexual orientation, national origin, age, disability, genetic status, citizenship status, marital status, military or veteran status, current unemployment or any other legally protected category in accordance with applicable federal, state and local law.

Candidates must reside in Florida, or be willing to relocate.

Job Description

Review and approve Office of Foreign Assets Control (OFAC) related transactions in eGIFTS, and alerts generated in Bridger; respond to subpoena requests; perform Enhance Due Diligence (EDD) searches in response to FinCEN’s bi-weekly 314(a) requests; creation, maintenance, and testing of Bridger Accept Lists, eGIFTS Good Guy Rules, and Internal Denial Lists (IDL). Daily review of Currency Transaction Reports (CTRs) for accuracy and e-filing within the designated time frame. Maintenance of CTR Tracking Log and tracking of CTR DART alerts in Actimize. Participate n and support internal and external exams. Provide statistical data for monthly management reports; perform ad-hoc EDD searches as needed, and act as a back-up for other critical Compliance department functions.

Job Description

Reports to the OFAC Officer

• Daily review of OFAC related transactions that includes both wires and messages as well as alerts generated in Bridger against the Bank’s customer base

• Ensure potential matches are thoroughly researched and/or serviced prior to release
• Escalate potential exact matches to the Deputy OFAC Officer for additional review, possible rejection or blocking
• Create an effective audit trail by maintaining a detailed Actions and Referrals Tracking log for management and examiner review
• During the course of releasing False Positive matches, identify entities that can be added to the eGIFTS Good Guy List and Bridger’s Accept List in an attempt to reduce the number of False Positive matches in the future

• Currency Transaction Reporting

• Review CTRs received from the business for accuracy prior to e-Filing
• Communicate any format issues to the business, follow up for resolution
• Ensure CTRs are accurately filed within the 15-day filing period
• Populate and maintain the CTR Tracking Log
• Update, close CTR DART alerts in Actimize
• Respond to subpoena requests from Legal by performing a detailed review of related transactions, CTRs and other requested data. Ensure responses are submitted by the due date, or sooner.
• Participate in Bank examinations, prior to and during examinations regarding any pending matters, i.e., collect, review, edit and distribute examination items
• Assist with the bi-weekly FinCEN 314(a) request by performing a review of the Bank’s customer base as well as transactions against FinCEN’s list of entities
• Respond to FIU’s request to add entities to the IDL in both eGIFTS and Bridger
• Conduct quarterly testing of eGIFTS Good Guy Rules; Bridger Accept List, and monthly testing of the IDLs added to eGIFTS and Bridger
• Provide various statistics for monthly management reporting
• Support other areas of Compliance as needed

#LI-Hybrid

Qualifications

• 3 – 5 years of banking experience in processing OFAC related transactions
• Strong knowledge of OFAC rules and regulations
• Demonstrated ability to respond to in-house generated OFAC related inquiries
• Demonstrated ability to actively and effectively interact with the Bank's regulators, business lines, and other areas of the Bank
• Knowledge of CHIPS, ACH, FED and SWIFT
• Ability to work independently from the OFAC Officer
• Effective written and oral communication skills
• Experienced MS Office user

Compensation

The expected annual salary for this position is between $80,000 and $100,000 at the start of employment. A salary offer is determined on an individualized basis, taking into consideration factors such as an individual’s skills and experience. In addition to base salary, our total rewards package also includes eligibility for an annual bonus, medical, pharmacy, dental, and vision plans, life and disability insurance, employee wellness program, retirement and savings plans with employer contributions, generous holiday and paid time off schedules, parental leave, and tuition reimbursement.

Additional Information

The Bank will make reasonable accommodations to the following employees to allow them to perform the essential functions of their position, except where doing so would result in undue hardship to the Bank:

• Those with a known mental or physical disability.
• Pregnant individuals and/or individuals with pregnancy or childbirth-related medical conditions.
• Victims of domestic violence, sex offenses or stalking.
• Employees with religious observance and practice obligations.

Any employee who believes he or she needs an accommodation for any of the above reasons should contact their supervisor or a member of Human Resources to request such an accommodation. In each case, the Bank will engage in a good faith written or oral dialogue concerning the individual’s accommodation needs; potential accommodations that may address the individual’s accommodation needs, including alternatives to a requested accommodation; and the difficulties that such potential accommodations may pose for the employer.

The Bank retains the ultimate discretion to choose the appropriate reasonable accommodation. Upon reaching a final determination at the conclusion of the cooperative dialogue, the Bank will provide the requesting individual with a written final determination identifying any accommodation granted or denied. In addition, the Bank will maintain any information regarding the employee’s request and status in the strictest confidence, except as requested by the employee, as required on a need-to-know basis or as otherwise required by law.

Disclaimer

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.

All your information will be kept confidential according to EEO guidelines.

Due to COVID-19, we are now operating on a hybrid schedule. We value the safety of our employees because we’re all in this together.

NO AGENCIES PLEASE.

IDB BANK, INCLUDING ITS SUBSIDIARIES AND DIVISIONS, PROVIDES EQUAL EMPLOYMENT OPPORTUNITIES TO ALL EMPLOYEES AND APPLICANTS FOR EMPLOYMENT WITHOUT REGARD TO RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, NATIONAL ORIGIN, AGE, DISABILITY, GENETIC STATUS, CITIZENSHIP STATUS, MARITAL STATUS, MILITARY OR VETERAN STATUS, CURRENT UNEMPLOYMENT OR ANY OTHER LEGALLY PROTECTED CATEGORY IN ACCORDANCE WITH APPLICABLE FEDERAL, STATE AND LOCAL LAW. NOTHING IN THIS SITE CONSTITUTES A PROMISE OR OFFER OF EMPLOYMENT.

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IDB BANK, INCLUDING ITS SUBSIDIARIES AND DIVISIONS, PROVIDES EQUAL EMPLOYMENT OPPORTUNITIES TO ALL EMPLOYEES AND APPLICANTS FOR EMPLOYMENT WITHOUT REGARD TO RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, NATIONAL ORIGIN, AGE, DISABILITY, GENETIC STATUS, CITIZENSHIP STATUS, MARITAL STATUS, MILITARY OR VETERAN STATUS, CURRENT UNEMPLOYMENT OR ANY OTHER LEGALLY PROTECTED CATEGORY IN ACCORDANCE WITH APPLICABLE FEDERAL, STATE AND LOCAL LAW. NOTHING IN THIS SITE CONSTITUTES A PROMISE OR OFFER OF EMPLOYMENT.

IDB BANK, INCLUDING ITS SUBSIDIARIES AND DIVISIONS, PROVIDES EQUAL EMPLOYMENT OPPORTUNITIES TO ALL EMPLOYEES AND APPLICANTS FOR EMPLOYMENT WITHOUT REGARD TO RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, NATIONAL ORIGIN, AGE, DISABILITY, GENETIC STATUS, CITIZENSHIP STATUS, MARITAL STATUS, MILITARY OR VETERAN STATUS, CURRENT UNEMPLOYMENT OR ANY OTHER LEGALLY PROTECTED CATEGORY IN ACCORDANCE WITH APPLICABLE FEDERAL, STATE AND LOCAL LAW. NOTHING IN THIS SITE CONSTITUTES A PROMISE OR OFFER OF EMPLOYMENT.