Job Summary

The Sanctions Risk Analysis and Control function is responsible for providing sanctions compliance guidance for in-process payments and performing investigations on payments processed by SCB New York (“SC NY”) and returned by downstream financial institutions for compliance reasons, to ensure payments are processed in compliance with internal and external requirements. The Associate Director, Sanctions is responsible for the execution of the Americas Risk Analysis & Control book of work to include Transaction Screening and Name Screening alert management for complex investigations, Sanctions Risk Event (“SRE”) investigations, OFAC transactional reporting, OFAC engagement and OFAC Special Request Management, liaising with Americas Cash Operations and USD Peer Bank Return Process (“PBR”), and requirements pursuant to the Regional Sanctions Team (“RST”) and all Americas Sanctions Compliance Departmental Operating Instructions (“DOI”).

Key Responsibilities

• FCC Americas, Sanctions Compliance (“FCCA Sanctions”) provides regulatory and compliance advice to business and control units on an ongoing basis. These efforts involve responding to questions and issues as they arise and proactively keeping business units apprised of regulatory developments and SCB Group Sanctions Policy changes. FCCA Sanctions, along with other control functions, manages supervisory queries, and advises Cash Management Operations on transactions prior to execution. FCCA Sanctions administers Group Sanctions Policy & Procedures, including its implementation in accordance with SCB Group Sanctions Standards.
• Provide advice to relevant stakeholders on the interpretation and application of regulatory expectations, laws, best practices, and Group Sanctions Policy and Procedures.
• Analyse comprehensive impact of anti-financial crime related regulatory matters on relevant business area(s) and its operations.
• Ensure key changes (to laws, rules, regulations) are implemented (in region/country), in coordination with Group communications.
• Keep track of and provide advice to relevant stakeholders on the interpretation and application of regulatory expectations, laws, best practices, and policies related to FCC.Provide guidance on proper application and interpretation of US and UK sanctions-related laws, rules, regulations and policies and procedures applicable to SCB NY or from a US perspective to the Group and SCB affiliates and branches.
• Oversee the integrity of the List Management process, ensuring records are accurate and complete.
• Analyse referrals from the operational and business groups and decision transactions in compliance with internal and external requirements.
• Escalate potential violations of internal and/or external requirements, ensuring reporting to OFAC and/or other government agencies, if deemed necessary.
• Approve transactional OFAC block and reject reporting; manage OFAC Special Requests. 

Day-to-Day Tasks

• Ensure issues are raised and escalated in a timely manner.
• Provide congruence on permissible or prohibited activity, including the application of OFAC general or specific licenses, with delegated authority from Regional Head, FCCEA Sanctions Compliance.
• Continuously monitor operational efficiency and effectiveness to ensure compliance with applicable sanctions laws, rules, and regulations to mitigate sanctions violations and minimize adverse client impact. 
• Manage SRE Analyse (Americas) and Act (Europe & Americas) processes.
• Process oversight for USD Peer Bank Return process excellence.
• Contribute data for key risk metrics as part of the FCC Americas Sanctions Compliance Dashboard Reporting.
• QCP for transaction screening is required for all new joiners within the FCC Americas Sanctions Compliance Risk Analysis and Control function.  QCP is governed by the Regional Sanctions Team Departmental Operating Instructions (“RST DOI”). 
• QCP is conducted in a live production environment, with a mandatory 4-eyes case alert disposition rationale validation by a performing analyst, for all alerts generated by the sanctions screening application. Various trade and transaction banking processes, such as correspondent banking cash transactions, non-cash transactions, PBR and name screening may generate screening alerts which require alert adjudication and case disposition in compliance with US & UK laws and regulations, as well as internal requirements. QCP also applies to SRE cases.
• The QCP ensures that a new joiner: 
• Acquires a solid understanding of internal processes, procedures, policies, and related systems to ensure compliance with all applicable sanctions requirements.
• Is proficient in the application of regulatory requirements, and can clearly articulate decision rationale, and document such as disposition commentary in a manner that factually supports the case outcome for each sanctions screening alerts/SREs processed; and 
• Successful completion of a prescribed number of QCP cases for Transaction Screening consistent with the RST DOI.

Skills and Experience

• Manage Conduct
• Manage Risk
• Manage People
• Spot Opportunities 
• Solve Problems 
• Take the Lead
• Build Resilience 
• Collaborate
• Communicate
• Compliance Policies and Standards
• Compliance Advisory
• Regulatory Reporting and Filing 
• Investigations
• OFAC Sanctions Regulations
• Deliver Sustainably  
• Achieve Results  
• 7+ years of relevant work experience in Sanctions Compliance
• ACAMS certification or industry equivalent required.

About Standard Chartered

We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.

Together we:

• Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
• Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
• Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

What we offer

In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

• Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
• Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
• Flexible working options based around home and office locations, with flexible working patterns.
• Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
• A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
• Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.

Recruitment Assessments

Expected annual base pay range for the role is 80,000 USD to 110,000 USD. The final offer will be determined on an individualised basis using a number of variables, including but not limited to skill set, depth of experience and education, internal relativity, and specific work location. At Standard Chartered Bank, Base pay is only part of the total compensation package. Discretionary variable pay and a range of attractive bank sponsored benefit programs are available and designed to foster employee overall health and well-being including, but not limited to, a best in class 401k plan with up to 8% employer match, robust medical plan coverage with employer funded Health Savings Accounts, inclusive family building benefits, and flexible/hybrid working arrangements for many of our positions subject to role specific considerations

Some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.

Visit our careers website www.sc.com/careers