Sanctions Compliance Officer

Job Description

It’s about giving people a sense of security.

Are you described as someone with an inquisitive mind and a thirst for knowledge? Are you known for your goal-orientated mindset and for always thinking one step ahead? Do you enjoy identifying potential risks and finding solutions? If so, being a Sanctions Compliance Officer with Frost could be for you.

At Frost, it’s about more than a job. It’s about having a flourishing career where you can thrive, both in and out of work. At Frost, we’re committed to fostering an environment that reflects our values and encourages team members to be the best they can be. In joining our adaptable, integrity-driven team, you’ll become part of Frost’s over 150-year legacy of providing unparalleled banking services.

Who you are:

As a Sanctions Compliance Officer with Frost, you be responsible for overseeing compliance of sanctions laws. You will evaluate the effectiveness of compliance controls that support applicable laws, rules, and regulations, including those administered by the U.S. Department of the Treasury’s Office of Foreign Assets Control. You will use your servant leadership mentality to provide training and guidance to staff on sanctions compliance and regulatory requirements. You welcome a challenge and strive to contentiously improve processes with integrity, caring and excellence in mind.

What you’ll do: 

• Ensure transactions processed by the bank comply with sanctions laws, particularly those administered by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC)

• Review reports from the Bank Wire Department to assess transactions flagged for potential sanctions issues and recommend appropriate actions

• Lead a team of sanctions specialists in analyzing OFAC screening results and making timely decisions on necessary actions

• Develop a quality review function to verify the accuracy of review decisions

• Escalate material sanctions concerns to senior management and governance committees as needed

• Maintain detailed records of reviews and decisions; prepare reports for senior management and governance bodies

• Collaborate with the Bank Wire Department and other relevant teams to ensure accurate and timely compliance checks

• Provide training and guidance to staff on sanctions compliance and regulatory requirements

• Stay current on sanctions regulations and update compliance policies and procedures accordingly

• Ensure internal controls are in place and functioning effectively to support compliance and operational integrity

• Exercise full managerial authority over staffing, evaluations, promotions, salary decisions, and terminations

• Always take action using Integrity, Caring, and Excellence to achieve all-win outcomes

What you’ll need:

• Bachelor’s degree or equivalent experience

• 5+ years of experience in sanctions compliance; preferable with a financial institution

• Strong understanding of the scope and technical operation of OFAC regulations and other relevant sanctions laws.

• Excellent analytical skills, attention to detail, the ability to read and interpret complex regulatory documents, and the ability to make informed decisions.

• Strong communication and interpersonal skills

Additional Preferred Skills:

• Relevant certifications such as Certified Sanctions Specialists (CSS), Certified Global Sanctions Specialist (CGSS) and Certified Anti-Money Laundering Specialist (CAMS) preferred.

Our Benefits:

At Frost, we care about your health, your family, and your future and strive to have our benefits reflect that. This includes:  

• Medical, dental, vision, long-term disability, and life insurance

• 401(k) matching

• Generous holiday and paid time off schedule

• Tuition reimbursement

• Extensive health and wellness programs, including our Employee Assistance Program

• Referral bonus program + more!

Since 1868, Frost has dedicated their expertise to provide exceptional banking, investment, and insurance services to businesses and individuals throughout Texas. Frost is one of the 50 largest U.S. banks by asset size and is a leader in banking customer satisfaction. At Frost, it’s about being part of something bigger. If this sounds like you, we encourage you to apply and see what’s possible at Frost.