Sanctions Director

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Company: Sumitomo Mitsui Banking Corporation
Location: New York, NY 10172 (Gramercy area)

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Overview
SMBC is looking to hire a Director of Sanctions Reporting to the Deputy BSA/AML Compliance Officer in the Compliance Department, Americas Division. The Sanctions Director manages the execution of the Sanctions program including the Office of Foreign Assets (“OFAC”) Program for SMBC’s Americas Division. The role is responsible for overseeing the day to day operations and managing a team of compliance professionals responsible for sanctions screening, dis-positioning alerts, and reporting alerts to Branch senior management and regulatory authorities. The role also provides subject matter expertise regarding sanctions laws, rules and regulations to front line personnel and Branch senior management.
Responsibilities
  • Manage and oversee Sanctions team, activities and deliverables including interacting with Head Office to ensure that global sanctions policies are implemented.
  • Make recommendations to the Deputy BSA/AML Compliance Officer and BSA/AML Compliance Officer regarding decisions related to blocking and rejecting transactions that involve possible sanctioned persons and entities.
  • Ensure SMBC complies with all applicable OFAC record-keeping and reporting requirements.
  • Oversee the management of sanctions screening software applications and processes.
  • Ensure that sanctions lists are periodically updated to capture recent list updates.
  • Partner with AML Analytics to fine-tune sanctions filter thresholds in accordance with changes in SMBC NY’s risk profile.
  • Manage teams reviewing and dis-positioning sanctions-related alerts.
  • Review suspected matches and report valid matches to the appropriate regulatory authorities.
  • Oversee research for 314(a) requests.
  • Oversee the Annual OFAC Risk Assessment process.
  • Coordinate with the Training Director on sanctions-related training needs and curriculum.
Qualifications
  • Minimum 10 years of specialized experience in Sanctions compliance.
  • 3 to 5 years of management experience.
  • Bachelor’s Degree in relevant discipline (e.g. Accounting, Finance, Banking or other related field).
  • Demonstrate project management or team leadership skills.
  • Strong people management skills and ability to develop a team.
  • Strong communication and presentation skills.
  • Experience with SharePoint and Microsoft Office suite.
  • Strong knowledge and understanding of Japanese culture a plus.
  • Strong knowledge and understanding of foreign banking regulation(s).
  • Strong knowledge of banking products and services.
  • In-depth knowledge of the U.S and internal (e.g. United Nations, European Union) Sanctions laws and experience in applying international Sanctions programs.
  • Prior experience working with regulatory bodies in the financial sector.
  • Strong relationship-building skills to manage internal management relationships and Head Office.
  • Strong reasoning ability; understand complex situations, people and systems needs against backdrop of an ever-changing regulatory environment.
  • Maintains high level of confidentiality; unquestionable character, integrity and professionalism.
  • ACAMS certified or other equivalent industry certification is required.