Sanctions Operations OFAC Blocking and Reporting Associate

As a Sanctions Operations OFAC Blocking and Reporting Associate at BNY, your key responsibilities include performing blocking and unblocking functions for OFAC sanctioned funds, reviewing sanctioned blocked accounts, and preparing detailed reports on transactions. You'll be involved in monitoring and reconciling sanctions blocked assets, ensuring compliance with regulations, and supporting legal documentation for any inquiries related to blocked assets.

For the Sanctions Operations Associate role at BNY, a Bachelor's degree or an equivalent combination of education and experience is required, along with 0-3 years of work experience preferably in the finance industry. Candidates with experience reading SWIFT messages, along with knowledge of International Money Management System (IMMS) and Global Securities Process (GSP), are highly preferred.

BNY is committed to the career advancement of its Sanctions Operations Associates through a culture of empowerment and personal development. Employees have access to flexible resources and training programs, enabling them to foster resilience and reach their career goals while being part of an inclusive and innovative workplace recognized by multiple awards.

The workplace culture for Sanctions Operations Associates at BNY is defined by collaboration, innovation, and inclusivity. BNY's recognition as one of America's Most Innovative Companies reflects its dedication to creating a supportive environment where diverse voices shape successful financial solutions and where every employee is valued, making for a truly enriching workplace experience.

Yes, while a Bachelor's degree is essential for the Sanctions Operations Associate position at BNY, having 0-3 years of relevant experience is preferred. Candidates who have previously worked in finance, especially those knowledgeable about sanctions operations, are especially well-suited for this role.

Understanding OFAC regulations is crucial for a Sanctions Operations Associate, as they govern how financial institutions manage sanctioned transactions. Articulating the significance of adhering to these regulations demonstrates your awareness of compliance and emphasizes the role these standards play in global finance.

While discussing your experience with reconciling blocked assets, you should highlight how you have monitored transactions for discrepancies, ensured accurate reporting, and collaborated with teams to resolve issues. Providing examples from past experiences will display your insight and capability in maintaining compliance.

In high-pressure situations, I prioritize tasks based on urgency and impact while maintaining clear communication with team members. Sharing specific strategies you've used, such as creating checklists or leveraging technology to stay organized, can illustrate your ability to thrive under pressure.

Employers appreciate when candidates share their familiarity with systems like SWIFT for messaging and reporting systems used in financial operations. Give examples of how you have effectively utilized such tools to enhance efficiency in daily tasks.

In handling a legal subpoena, I would first ensure that all documentation related to the blocked assets is organized and reviewed for accuracy. Discussing your methodical approach to compliance and how necessary communications would be managed will highlight your detail-oriented nature and respect for legal procedures.

The preparation of a sanctions report for OFAC involves carefully reviewing transactions, ensuring accurate documentation, and utilizing relevant software to compile data. Describing your workflow, including any checks you would implement for accuracy or compliance, showcases your thorough understanding of reporting processes.

To stay informed about changes in sanctions regulations, I follow reputable sources, participate in industry webinars, and connect with peers in the field. Highlighting your proactive nature in professional development and knowledge acquisition will resonate well with interviewers looking for a dedicated candidate.

My approach to improving inefficient processes involves analyzing existing workflows, soliciting feedback from team members, and exploring automation options. Illustrating a willingness to innovate and your problem-solving skills will demonstrate your commitment to enhancing operational efficiency.

Teamwork is essential in sanctions operations as it fosters collaboration for effective compliance. Articulate how your previous experiences have involved working with cross-functional teams to achieve common goals, reinforcing the notion that teamwork contributes to successful operational outcomes.

Expressing your desire to work for BNY should include appreciation for the company's inclusive culture and innovative reputation. Discuss how your values align with those of BNY and how you’re excited about contributing to their mission of making money work for the world.