Full-Time

AML/OFAC Sanctions Auditor

Confirmed live in the last 24 hours

Metropolitan Commercial Bank

Metropolitan Commercial Bank

201-500 employees

Provides commercial and personal banking services

Fintech
Financial Services

Compensation Overview

$95k - $105kAnnually

+ Base wages + Bonus + Incentive pay

Mid

New York, NY, USA

Category
Risk Management
Finance & Banking
Required Skills
Data Analysis
Requirements
  • Bachelor degree or equivalent work experience
  • Diverse and in-depth understanding of BSA/AML and OFAC rules, regulations, and best practices.
  • Knowledge of trends/typologies in money laundering and fraud schemes.
  • Excellent investigative, analytical, and problem resolution skills with the ability to understand and draw conclusions from research conducted.
  • Strong time management and organizational skills to prioritize and complete deliverables in a timely and effective manner.
  • Ability to work independently and as part of a team.
  • Strong communication and collaboration skills, including the ability to work effectively with others at all levels across the Bank and Partners.
  • Proficiency in MS Office; Word, Excel, PowerPoint.
  • Experience with automated transaction monitoring system Verafin a plus.
  • Knowledge of CIP/KYC Customer Onboarding and High-Risk EDD reviews a plus.
Responsibilities
  • Autonomously, accurately, and effectively conduct BSA/AML, and OFAC related QCA reviews across different products and services.
  • Review sampled alerts to determine false positives/positive matches for sanctions, negative news, PEP (politically-exposed persons), and internal watch-lists, to ensure that the appropriate decisions and recommendations have been made according to department standards, that the appropriate supporting documentation is obtained, and that any decision made is appropriately supported and documented in accordance with established standards.
  • Review various departments’ processes to ensure OFAC compliance.
  • Review data from all BSA & AML related processes, including 314(a) & 314(b) information sharing, Currency Transaction and SAR reporting.
  • Identify and document in a clear and concise manner, potential and emerging BSA/AML/OFAC risks through detailed analyze and recommend effective solutions.
  • Partner with business units to remediate findings identified in QCA reviews and ensure that corrective action is taken within specified timeframes.
  • Maintain QCA standards and procedures, including risk-based standards for testing, and report quality control findings into QCA database/logs accurately and in a timely manner.
  • Generate related reports, including findings and trends for Senior Management in a thorough and timely manner.
  • Exhibit high quality performance to ensure review and work papers adhere to internal standards and expectations.
  • Assist in mentoring initiatives, including the development of training materials, job aids and equivalent tools for driving consistency and quality.
  • Maintain knowledge of developments in the area of OFAC and anti-money laundering rules and regulations and the associated BSA/AML and sanctions risks ensuring QCA standards and procedures are up to date, recommend changes and/or alternatives for process improvements.
  • Support the QCA Officer in performing duties, such as reviewing of policies and procedures, preparing the testing and review schedule and metrices summarizing the work performed by the QCA Team.
  • Perform special projects, and additional duties and responsibilities as required.
Metropolitan Commercial Bank

Metropolitan Commercial Bank

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Metropolitan Commercial Bank provides a variety of banking services tailored for both businesses and individuals. It specializes in commercial and personal banking, offering products like business checking accounts, deposits, loans, and treasury management. The bank is particularly known for its expertise in global payments and digital compliance, which helps ensure secure transactions for its clients. Unlike many traditional banks, Metropolitan Commercial Bank focuses on serving fintech companies and entrepreneurs, providing them with specialized services such as commercial real estate lending and remote client support. Additionally, it offers a developer portal for API integration, allowing businesses to enhance their digital capabilities. The bank aims to generate revenue through interest on loans, service fees, and transaction processing, while its goal is to meet the evolving needs of its clients in the digital banking landscape.

Company Stage

IPO

Total Funding

N/A

Headquarters

New York City, New York

Founded

N/A

Growth & Insights
Headcount

6 month growth

61%

1 year growth

8%

2 year growth

61%
Simplify Jobs

Simplify's Take

What believers are saying

  • Recognition as one of Fortune’s 100 Fastest-Growing Companies for 2021 highlights its robust growth trajectory.
  • The bank's successful IPO and strategic mergers, such as with Renasant Bank, indicate strong market confidence and expansion potential.
  • Partnerships with fintech firms like Revolut and Cashaa demonstrate its influence and adaptability in the evolving financial landscape.

What critics are saying

  • The competitive nature of the fintech and banking sectors requires continuous innovation to maintain its edge.
  • Integration challenges from mergers and acquisitions could disrupt operations and client services.

What makes Metropolitan Commercial Bank unique

  • Metropolitan Commercial Bank excels in digital compliance and payment solutions, making it a preferred partner for fintech companies.
  • The bank's developer portal for API integration sets it apart by offering enhanced digital service capabilities.
  • Its focus on global and issuer payments ensures secure and efficient transactions, distinguishing it from traditional banks.

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