US Sanctions Compliance Reporting & Governance AVP

Deutsche Bank
  • Location
    New York, New York
  • Sector
    Commercial
  • Experience
    Mid Career
  • Posted
    Mar 13

Position description

At Deutsche Bank, good compliance is everybody’s responsibility. The Compliance department’s core functions support good compliance practice to prevent and detect violations of all applicable laws, rules and principles that observe high standards of individual behaviour and business conduct.

Working closely with the business, compliance professionals ensure that our risk based programme is both globally effective and locally anchored to our key divisional businesses. As an independent and robust second level control function, the Compliance Department seeks to manage compliance risk and deepen the culture of compliance at Deutsche Bank through the development and management of strategies that are sustainable and increases the trust of our clients.

Position Overview

US Sanctions Compliance Reporting & Governance AVP

Company:                  Deutsche Bank 

Location:                    New York, NY, US

Job Type:                   Regular (Full-time)

Officer Title:             Assistant Vice-President (AVP) 

Functional Title:       Sanctions Reporting and Researcher

Deutsche Bank is committed to promoting high standards of business and personal ethics in all its activities. As part of this commitment and in line with our Values and Beliefs, a “zero tolerance” approach to bribery and corrupt practices in all forms is paramount.  Like many organizations, Deutsche Bank (DB) is under increased regulatory scrutiny.  It is therefore important that in all locations where DB conducts business that it consistently operates by the required standard and are compliant with all applicable laws and official regulations in the respective jurisdictions.

Anti-Financial Crime (AFC)


AFC team is responsible for protecting Deutsche Bank from financial and reputational losses incurred by financial crimes by assessing, controlling and mitigating risks. Risk types related to AFC are consolidated into a comprehensive and effective risk management framework that covers Anti-Money Laundering, Sanctions and Embargoes, Anti-Bribery and Corruption and Anti-Fraud & Investigations.

Restrictive measures under sanctions and embargoes are usually implemented by means of statutory regulations. The Sanctions and Embargoes program is aimed to ensure that DB and its staff fully comply with all sanctions and embargoes regulations in force in the respective jurisdiction. DB’s Sanctions & Embargoes program has been implemented globally and throughout all business divisions via the Embargo Policy - DB Group and the Special Risk Country Policy DB Group.

In this vein, the US Sanctions Compliance is seeking a Sanctions Reporting and Researcher who will conduct in-depth investigations, research and analysis on potential regulatory risks in line with Sanctions and Embargoes regulations and respective policies. The incumbent will also have regular interactions with Operations, US Sanctions Compliance and AFC staff, as well as on occasion with business. The candidate should therefore, be comfortable working with colleagues at all levels and possess the necessary interpersonal and leadership qualities to operate effectively in this role.

The Sanctions Reporting and Researcher reports to the Sanctions Compliance Reporting and Governance Team Lead under the overall management of the Regional Head of Sanctions and Embargoes.

Responsibilities include but are not limited to the following:

Primary Responsibilities/Tasks:

Research & Report

Research and report on regulatory changes to ensure compliance with Office of Foreign Assets Control (OFAC) regulations, and other applicable sanctions rules and policies;

Research and conduct investigations in response to violations of rules, regulations, policies, and procedures, with a particular focus on OFAC-related matters, as well as blocks, rejects, re-submissions and funds returned;

Review, analyze and coordinate with Transactions Investigations focal point on re-submissions;

Review, monitor and update reconciliation reports related to blocked property and rejected reports and liaise accordingly to generate MIS reports;

Manage and distill data stemming from blocks and rejects, re-submissions, and funds returned and suggest remedial actions;

Identify patterns stemming from post-transaction investigations and prepare statistical trends analysis report, along with a qualitative report;

Support sanctions-relevant reporting obligations to the competent authorities;

Production of management information as required by the Team Lead.

Reporting Systems

Work closely with IT and other colleagues to develop the qualitative reporting requirements and ensure consistency of documentation, improve systems and data used by the Team, and roll-out a user-friendly tool; including but not limited to cleaning of data for migration;

Support ongoing work to respond to regulatory changes, streamline existing processes, strengthen controls and upgrade systems including being a Subject Matter Expert on the Hotscan Case Management system.

Governance

Assist the Team Lead to implement enhancements for and controls on the Sanctions Reporting process, including incorporating all relevant regulatory obligations based on Change Management/Governance recommendations and new legislations;

Identify key deliverables and milestones and update/develop corresponding scope documents, project/action plans and traceability matrices;

Identify and escalate issues which are not addressed by current policies or standards, suggest possible solutions, and assist in implementing such solutions and serve as Secretariat for internal US Sanctions Compliance;

Provide subject matter expertise and guidance with regard to Sanctions laws/regulations/guidance to business and other compliance staff;

Assist in the collection of information in response to law enforcement, regulatory, or internal inquiries;

Keep abreast of the global landscape, including changes in U.S. and EU sanctions laws and regulations; and,

Provide support as needed and required.

Qualifications

A minimum of 5-years professional work experience in financial services and/or non-profit organizations with a strong background in programme management, governance, sanctions and/or regulatory trends.  Previous involvement in building new systems to meet complex reporting requirements is an asset.

Strong analytical, research, data interpretation and documentation skills.

Familiarity with monitoring and evaluation (M&E) and quality assurance processes is advantageous.

Organized, detail- and results-oriented and structured work style, with the ability to work calmly under pressure.

Excellent oral and written communication, documentation and presentation skills are essential.

Able to prioritize and deliver according to strict timelines and quality standards.

Collaborative working style in a team setting, who can also work well independently and seeks solutions for obstacles and missing information to ensure compliance deadlines are met.

Strong work ethic, diligent, efficient, mature approach to work and a strong willingness to learn and take on new challenges. 

Sound geopolitical knowledge is highly preferred.

Knowledge of international laws and financial crimes laws is as an asset but not required.

Excellent knowledge of Word, Excel, PowerPoint, Vision, Design Structure matrix, SPSS, etc. to produce translatable data analytics.

Education:

Graduate degree in international relations, international law, public policy, economics, finance and related fields.  A first degree, in lieu of relevant work experience, will be considered.

For candidates applying for positions in the US:

Deutsche Bank is an Equal Opportunity Employer - Veterans/Disabled and other protected categories.  Click these links to view the “EEO is the Law” poster and pay transparency statement.

Application instructions

*Please be sure to indicate that you saw this position on Globaljobs.org*

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