OFAC and Sanctions Program Officer

Job Summary 

The OFAC and Sanctions Program Officer is responsible for supporting and maintaining the Bank's Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Sanctions and Office of Foreign Assets Control OFAC Compliance Program, including sanctions monitoring, investigations, regulatory reporting, risk assessment, and control oversight. The position serves as a subject matter expert on OFAC and sanctions matters, providing guidance to business units and management regarding sanctions-related risks, regulatory requirements, and control effectiveness.

This role independently conducts complex sanctions investigations, evaluates potential compliance risks, recommends appropriate corrective actions, and supports regulatory examinations, audits, and sanctions program reviews. The Officer contributes to the ongoing development and enhancement of sanctions policies, procedures, controls, and governance practices to ensure compliance with applicable laws and regulations. The Officer partners with stakeholders across the Bank to implement regulatory requirements, monitor emerging risks, provide training and guidance, and support strategic initiatives designed to strengthen the Bank's financial crimes compliance program.

Key Responsibilities

• Conduct and oversee enhanced sanctions investigations involving complex ownership structures, subsidiaries, affiliates, counterparties, vessels, financial institutions, and other parties to determine potential direct or indirect sanctions exposure. Analyze OFAC and sanctions-related alerts, evaluate associated risk, and provide recommendations to management regarding appropriate resolution and escalation.
• Coordinate and document the blocking or rejection of transactions when required and ensure appropriate escalation, regulatory reporting, recordkeeping and follow-up in accordance with regulatory requirements and Bank policy.
• Maintain oversight of blocked property and related records ensuring accurate reconciliation, regulatory reporting, and compliance with applicable sanctions requirements. 
• Monitor and assess OFAC sanctions list updates, new sanctions programs, General Licenses, regulatory developments, and emerging sanctions risks, and provide recommendations regarding potential impacts to Bank customers, products, services, and operations.
• Review real-time wire transfers, ACH transactions, and other customer activity for potential matches against OFAC sanctions lists, watchlists, and high-risk jurisdictions. 
• Analyze complex transactional activity and customer relationships to identify potential suspicious, unusual, or high-risk activity and provide comprehensive investigative recommendations. 
• Perform reviews and investigations independently while exercising sound judgment in identifying potential compliance risks. 
• Serve as a subject matter expert and trusted resource to Bank personnel by providing guidance on BSA/AML/OFAC regulatory requirements, sanctions-related risks, and internal policies and procedures.
• Partner with BSA management, investigative units, business lines, and branch personnel to resolve potential compliance concerns and mitigate risk. 
• Oversee and validate the timely implementation of sanctions list updates across applicable screening systems and document completion of required controls.
• Support and contribute to BSA/AML and OFAC risk assessments, internal audits, regulatory examinations, and country risk reviews, providing subject matter expertise and recommendations to strengthen controls and compliance practices.
• Conduct training and knowledge-sharing sessions for frontline staff and BSA personnel regarding BSA/AML and OFAC requirements, trends, and industry best practices. 
• Review and investigate FinCEN Section 314(a) requests on a bi-weekly basis and appropriately document and disposition potential matches within required timeframes. 
• Partner with cross-functional team members to provide training, guidance, and operational support when needed. 
• Provide support to other BSA functions, including Enhanced Due Diligence (EDD), Currency Transaction Reporting (CTR), investigations, and other compliance-related teams as needed. 
• Maintain complete, accurate, and timely documentation of investigations, findings, decisions, and regulatory reporting activities in accordance with Bank policy and regulatory expectations.
• Lead or participate in special projects, process improvement initiatives, system implementations, and other assignments to enhance the effectiveness of the Bank's BSA/AML and OFAC compliance program. 

Compliance Responsibilities 

Complies with all applicable state and federal banking laws, regulations, and internal policies related but not limited to lending, operations, and deposit requirements, including Bank Secrecy Act (BSA), Anti-Money Laundering (AML) requirements, Office of Foreign Assets Control (OFAC) regulations, Customer Identification Program (CIP) requirements, Financial Elder Abuse reporting laws, Sexual Harassment prevention policies, information security and privacy requirements.

Required Knowledge 

• Advanced knowledge of BSA/AML monitoring systems and investigative tools used to identify, review, and report suspicious activity.
• Advanced knowledge of BSA, AML, OFAC, and sanctions regulatory requirements applicable to financial institutions.
• Strong understanding of financial crimes compliance, sanctions screening, transaction monitoring, suspicious activity investigations, and regulatory reporting requirements.
• Knowledge of applicable regulatory guidance, industry best practices, and risk management principles related to sanctions compliance.
• Ability to remain current with evolving regulatory requirements, sanctions developments, and emerging financial crimes risks.

Knowledge, Skills and Abilities 

• Demonstrates sound judgment, high integrity, and a strong commitment to ethical and professional conduct.
• Ability to maintain strict confidentiality and exercise discretion when handling sensitive, proprietary, and regulatory information.
• Ability to interpret and apply BSA, AML, OFAC, and sanctions regulations to complex customer, transaction, and investigative scenarios.
• Strong analytical, investigative, and problem-solving skills with the ability to assess risk and provide well-supported recommendations.
• Ability to serve as a subject matter expert and provide guidance to employees regarding BSA/AML/OFAC regulatory requirements, internal controls, and compliance procedures.
• Effective verbal and written communication skills, including the ability to present findings and recommendations clearly and professionally.
• Ability to manage multiple priorities, adapt to changing regulatory requirements, and meet deadlines in a fast-paced environment.
• Knowledge of the USA PATRIOT Act and its application within a financial institution compliance framework.

Equipment Operated 

• Operates standard electronic computers and customary office equipment required to perform essential job functions.
• Use of equipment is required, with or without reasonable accommodation, in accordance with the Americans with Disabilities Act (ADA) and the California Fair Employment and Housing Act (FEHA).

Physical Requirements & Work Environment 

The physical demands and work environment characteristics described below are representative of those that must be met by an employee to successfully perform the essential functions of this position. Nothing in this description is intended to limit the availability of reasonable accommodation under applicable law.

• Ability to perform repetitive movements associated with office and computer-based work.
• Ability to sit and or stand for extended periods of time to perform essential job functions.
• Ability to lift, carry, or move objects weighing up to 25 pounds, with or without reasonable accommodation.
• Ability to use hands and fingers to manage, manipulate, or feel objects and operate standard office equipment.
• Work is primarily performed in an office environment with a controlled temperature and standard office conditions.

Education and Experience 

• High School Diploma or equivalent required
• Minimum of five (5) years of banking experience, with a strong emphasis on customer service and client support.
• Minimum of five (5) years of experience in BSA/AML and OFAC compliance within a financial institution.
• Certified Anti-Money Laundering Specialist (CAMS) certification preferred; certification may be required within a specified timeframe after hire.

Minimum Absence Requirement

Some positions within the Bank have been designated as sensitive positions due to access to critical systems, records, or processes. In accordance with Bank policy and sound internal‑control practices, employees in sensitive positions are required to complete a mandatory consecutive absence from essential duties each calendar year to support segregation of duties and independent review.

The required absence will be scheduled in coordination with management to ensure continuity of operations. Administration of absence, including paid or unpaid status, will comply with all applicable federal, state, and local wage and hour and leave laws, including California requirements.

Required Minimum Absence for This Position: Two (2) Consecutive Weeks

Officer Title Eligibility 

For qualified positions, the Bank may designate an Officer Title based on the role’s job level, scope of responsibility, and alignment with established competency frameworks. Eligibility for an Officer Title designation is contingent upon the employee meeting defined competency, performance, and experience requirements and is governed by applicable Bank policies, governance standards, and required approval processes.

• This position is eligible for the following Officer Title(s): Assistant Vice President

Compensation

The listed range represents the full compensation range for this position. Placement within the range will be determined based on factors including skills, relevant experience, job‑related qualifications, geographic location, and internal equity, in accordance with Bank compensation policies.

• Exempt Salary Range: $87,360 – $139,360 per year

Disclaimer

This job description is intended to describe the general nature and level of work being performed and is not intended to be an exhaustive list of all duties, responsibilities, or qualifications. Employees may be required to perform other duties as assigned, consistent with business needs and applicable law.

Farmers and Merchants Bank of Long Beach reserve the right to modify, amend, or discontinue job duties or requirements at any time. Nothing in this job description creates a contract of employment, either express or implied, or alters the at‑will nature of employment.

10/09/2026