Position Title
Sanctions ManagerLocation
Hicksville, NY 11801Job Summary
The Sanctions Manager assists with maintaining certain aspects of the Bank's BSA/AML compliance program and assists in meeting and maintaining BSA/AML compliance requirements of the Bank. Complies with all applicable, federal and state laws, regulations and guidance, including those related to Anti-Money Laundering (i.e. Bank Secrecy Act, USA PATRIOT Act, etc.), as well as adhering to the Bank’s policies and procedures to reduce loss/risk to the Bank.Responsible for driving productivity, quality, and overall performance of a team of Sanctions Analysts. Manage a team that is responsible for ensuring that the Bank is in compliance with all OFAC Sanctions as well as monitoring for various other requirements. Assists in the day-to-day management of the Sanctions team including overseeing the distribution of reviews, provide procedural guidance to the staff, reviewing Quality Control and Internal Audit issues, and assisting the team on remediations and training. Reviews potential Sanctions matches escalated by the Sanctions team.
Pay range: 99-164KPay Range: Local Minimum Wage - $0.00 - $0.00
Job Responsibilities:
Manage a team of Sanctions Analysts who review alerts for potential Sanction matches.
Conduct quality control on team member reviews.
Create and administer Sanctions training.
Maintain and assist with updating departmental procedures.
Responsible for talent management functions including: employment, performance evaluations, staff development/training, disciplinary actions, succession planning and ensuring all staff comply with compliance requirements.
ADDITIONAL ACCOUNTABILITIES
Performs special projects, and additional duties and responsibilities as required.
Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.
JOB REQUIREMENTS
Required Qualifications:
Education level required: Undergraduate Degree (4 years or equivalent) in Business or related field.
Prior experience in banking or financial services with a minimum of seven (7) years of experience in OFAC processing.
Minimum five (5) years of management experience and/or experience leading and directing staff.
Preferred Qualifications:
ACAMS certification preferred
Job Competencies:
Excellent knowledge of all BSA/AML and OFAC related regulations with the ability to interpret the laws and implement into the Bank’s Policies and Procedures.
Advanced computer literacy skills with proficiency in Microsoft Office as well as Internet research techniques.
Excellent communication and time management skills.
Strong decision making, analytical, and investigative abilities with attention to detail and accuracy.
Ability to interact effectively with all levels of management, legal counsel, law enforcement, regulators, and examiners while maintaining strict confidentiality.
Ability to coach, mentor, and lead a team.
Physical demands (ADA): No unusual physical exertion is involved.
Flagstar is an Equal Opportunity Employer.
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What We Do
Thank you for visiting Flagstar Bank on LinkedIn, and we look forward to being part of your financial journey. On December 1, 2022, New York Community Bank (NYCB) and Flagstar Bank joined together to become one company. Today, New York Community Bancorp, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the country. The company is headquartered in Hicksville, New York. At June 30, 2024, the company had assets of $119.1 billion. We operate over 400 branches across 10 states, including a significant presence in the Northeast and Midwest and locations in high growth markets in the Southeast and on the West Coast. Flagstar Mortgage operates nationally through a wholesale network of approximately 3,000 third-party mortgage originators. We believe in cultivating a diverse, inclusive, and respectful workplace that engages employees, broadens perspectives, and encourages teamwork. We hire people who represent the talents, experiences, backgrounds, and diversity of the communities we serve. Together our goal is to deliver a new energy in banking to our customers, opening new doors for financial and personal success. Customers will have access to a broad spectrum of technology, products and services—all with a shared customer-first approach. Relationships are at the center of all that we do, enhanced by our commitment to delivering local market expertise, personalized solutions, and a long-standing focus on strengthening our communities. Follow us on LinkedIn to stay up to date on news and updates, new hires, community initiatives, access to our collective insights, and banking industry updates that you need to know.
