BSA/AML Sanctions Manager

Come work with us:

Metropolitan Commercial Bank (the “Bank”) is a New York City based full-service commercial bank that provides a broad range of business, commercial and personal banking products and services to individuals, small businesses, private and public middle-market and corporate enterprises and institutions, municipalities and local government entities. The Bank operates banking centers and private client offices in Manhattan and Boro Park, Brooklyn in New York City and Great Neck on Long Island in New York State.

The Bank is a New York State chartered commercial bank, a member of the Federal Reserve System and the Federal Deposit Insurance Corporation, and an equal housing lender. The parent company of Metropolitan Commercial Bank is Metropolitan Bank Holding Corp. (NYSE: MCB).

For more information, please visit the Bank’s website at MCBankNY.com.

Metropolitan Commercial Bank was named one of Newsweek's Best Regional Banks and Credit Unions 2024. The Bank was ranked by Independent Community Bankers of America among the top ten successful loan producers for 2023 by loan category and asset size for commercial banks with more than $1 billion in assets. The Bank finished ninth in S&P Global Market Intelligence’s annual ranking of the best-performing community banks with assets between $3 billion and $10 billion for 2022 and eighth among top-performing community banks in the Northeast region for 2022.

About the role:

The primary function for this position is to manage a team of Sanctions Analysts that are responsible for clearing OFAC wire alerts as well as clearing and investigating other sanctions referrals from within the bank.    This position is a key member of the Compliance Department and will report to the FIU Manager within Financial Crimes Compliance. On average, once per week, this position will require working from 11-7pm. 

Duties and responsibilities of the job include the following (but is not limited too):

• Dispositions OFAC alerts triggered on live domestic and international payments via the Bank’s OFAC filtering systems to ensure all transactions are in compliance with OFAC regulations and AML policies.
• Working knowledge of comprehensive and sectoral sanctions with the ability to decision potential matches.
• Ability to clearly, accurately document decisioning thought process when clearing false positives.
• Conducts research on escalations/referrals from internal Bank departments with respect to potential OFAC hits, negative news, and PEP hits.
• Assist with blocking, rejecting, and reporting transactions to OFAC as needed.
• Filing annual blocked property reports
• Update OFAC logs and other items as needed.
• Provide guidance on OFAC matters to other Associates within the group and other business units.
• Perform quality assurance checks and validations of OFAC filtering systems to ensure systems are compliant per periodic release of OFAC SDN updates.
• Ensures maintenance of OFAC sanctions lists and Internal Watchlists utilized by the Bank.
• Participates in system testing, optimization and validation to ensure the integrity of systems and processes for OFAC monitoring.
• Other duties assigned by management, including supporting other BSA Department areas as needs arise (e.g., investigate alerted transactions or customer relationships for AML/Sanctions risks and provide guidance on SAR filings as needed).

Preferred experience, education, and qualifications:

• Minimum of 5 - 7 years of prior investigative experience with specific emphasis on OFAC and Sanctions related regulations is required.
• Experience in managing a team of analysts to meet strict deadlines internal controls, compliance/risk management, internal audit or quality control/quality assurance within AML function preferred.
• Thorough understanding of legal aspects and recordkeeping requirements of banking regulations (especially relating to OFAC, AML, BSA, USA PATRIOT Act).
• Strong knowledge of OFAC regulations and Sanctions
• Strong communication, writing, and collaboration skills, including the ability to work effectively with others at all levels across the Bank.  
• Candidate must be able to interact with all lines of business to resolve issues as appropriate. 
• Support management with development and rollout of initiatives impacting the Bank.
• Strong analytical, research, and problem-solving skills are a must.   
• Ability to quickly assimilate information relating to complex issues, maintain poise, diplomacy, and the ability to use discretion when making decisions, and exercise good judgment.  
• Effectively provide solutions and direction, multi-task, work independently and deliver results in a timely manner.  
• Highly motivated, results oriented individual who can work in a time sensitive environment.  
• A results-driven, self-starter possessing exemplary leadership, communication, collaboration and influencing skills.
• Collaborative team-player who can find creative and practical solutions in a dynamic work environment.

Potential Salary: $150,000 - $175,000 annually

This salary range only reflects base wages and does not include benefits, bonus, or incentive pay. Salary bands are purposefully wide ranging to encompass the different factors considered in determining where a candidate falls in the range, including but not limited to, seniority, performance, experience, education, and any other legitimate, non-discriminatory factor permitted by law.

Metropolitan Commercial Bank provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.

This applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training.