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OFAC Sanctions Associate

New York, NY

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Metropolitan Commercial Bank (the “Bank”) is a full-service commercial bank based in New York City. The Bank 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.

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. Kroll affirmed a BBB+ (investment grade) deposit rating on January 25, 2024. For the fourth time, MCB has earned a place in the Piper Sandler Bank Sm-All Stars Class of 2024.

Metropolitan Commercial Bank operates banking centers and private client offices in Manhattan, Boro Park, Brooklyn 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).

Position Summary:

Reporting to the FIU Director, the AML FIU OFAC Sanctions Associate will be a key member of the Compliance Department in its day-to-day management of AML/BSA risk and ensuring compliance with all federal and state laws and regulations. The primary function of this position is to support the Bank’s Sanctions Program.

We have a flexible work schedule where employees can work from home one day a week.

Essential duties and responsibilities:

  • Disposition 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.
  • Conduct 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.
  • 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).
  • Research laws, regulations, and guidance impacting the Bank as it relates to new/modified products/services.
  • Support management with development and rollout of initiatives impacting the Bank.

Required knowledge, skills and experience:

  • Associate degree or equivalent experience  
  • Minimum of 1 year of AML/BSA OFAC Compliance. CAMS 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. 
  • 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.  

Potential Salary: $100,000 - $115,000 annually

This salary range 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. Final offer amounts are determined by multiple factors including candidate experience and expertise and may vary from the amounts listed here.

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.

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