Business Enhanced Due Diligence Analyst - OFAC Sanctions

This is a hybrid role that may only be hired in the following locations: Arizona and Texas

SVB's First Line of Defense Enhanced Due Diligence Know Your Customer ("EDD KYC") team is responsible for conducting enhanced due diligence on higher risk client segments that may pose a higher risk for money laundering, terrorist financing, sanctions, or reputation risk in support of all legal and regulatory requirements as a large financial institution. As a Sanctions Enhanced Due Diligence Analyst, you will be a part of SVB's First Line of Defense EDD Team tasked with leading OFAC/Sanctions due diligence reviews of existing clients and prospects, ensuring that they are compliant with FCBs Risk Appetite, and any/all applicable sanctions regulations. Sanctions Due Diligence reviews require performing extensive research using open source and proprietary tools, reviewing sanctions adverse media, leading client due diligence calls, drafting client specific outreach questions, and conducting a comprehensive risk analysis to assess a broad spectrum of sanctions risk. Draft high-quality, thoroughly researched sanctions risk analysis as well as program, policy, and procedure documents. Maintains knowledge of laws and regulations, particularly US and international sanctions programs and foreign policy issues, through ongoing research and industry involvement. Demonstrate subject matter expertise by acting as a trusted resource and assist in developing and delivering sanctions training on new or emerging sanctions risks. Partnering with key stakeholders across the First Citizens platform including relationship, product teams and Sanctions Compliance is critical.

• Enhanced Due Diligence - Perform through EDD Sanctions reviews on new and existing clients, ensuring compliance with regulatory requirements and internal policies. Conduct in-depth analysis of client profiles, business activities and ownership structures to assess sanctions, terrorist financing and other financial crime risks. Review and verify client documentation including identification documents, financial statements, and transaction records to ensure accuracy and completeness of KYC information. Assist clients and prospects in establishing the proper sanctions control environment to ensure compliance with Bank's requirements.
• Regulatory Compliance - Serve as sanctions subject matter expert and ensure compliance with regulatory requirements, industry standards and best practices related to EDD, KYC, BSA, Sanctions and AML regulations. Document and maintain accurate records of due diligence reviews, including findings, decisions, and supporting documentation in accordance with internal policies and regulatory standards. Partner with Compliance, Internal Audit, and other departments to respond to examinations and audit requests, manage execution and implementation of action plans, and ensure all processes and changes implemented fully comply with applicable regulations and legislation, standards, policies, and guidelines.
• Risk Analysis - Lead and champion efforts on identifying and managing existing and emerging risks identified through reviews, and ensuring these risks are effectively assessed, communicated, and controlled. Conduct assessments and profiling of clients based on their risk factors including business type, transaction volume and and geographical location. Analyze client transactions and account activity to identify red flags indicative of potential financial crimes, known sanctions evasion techniques or high-risk activities. Identify and communicates opportunities to automate/streamline quality and compliance efforts.
• Reporting & Training - Develop and report risk tolerance metrics and provide ongoing reporting on high-risk sector pipeline to senior management. Communicate effectively with internal stakeholders, relationship managers and business units to address queries and resolve issues related to EDD. Provide expertise in assessing prelaunch or emerging business models to align with internal requirements for EDD and approval. Collaborate with cross- functional teams to share insights, provide support, training and guidance on policies, procedures, and best practices, promoting a culture of compliance.

Bachelor's Degree and 4 years of experience in Financial Services, with a focus on Sanctions Compliance, Financial Crimes Risk, AML, KYC and/or BSA

-OR- High School Diploma or GED and 8 years of experience in Financial Services, with a focus on Sanctions Compliance, Financial Crimes Risk, AML, KYC and/or BSA

Required Qualifications:

• Deep knowledge of OFAC sanctions, including application across products and clients
• Proven ability to collaborate across functions, including with Senior management, Compliance, legal and enterprise risk teams
• Hands on experience with Financial crimes programs, including AML, sanctions screening, or customer due diligence
• Experience working in or with large financial institutions, particularly in a financial crimes or sanctions compliance capacity

Preferred Qualifications:

• Client-facing experience, with the ability to engage clients to discuss sanctions exposure and sanctions contorls
• Strong understanding of risk management frameworks and controls specific to sanctions or broader financial crime compliance
• Knowledge of US and global regulatory expectations related to OFAC, AML, KYC and BSA
• Working Knowledge of enterprise risk and operational risk regulatory guidance, especially as it relates to financial crime controls and governance

If hired in Arizona or Texas the base pay for this position is generally between $85,650 and $131,330.

Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.