OFAC Sanctions SME (subject matter expert) - Military veterans preferred

Malvern, PA | West Reading - HQ | Malvern, PA | Malvern, PA
Full time | Full time | Full time
REQ-2024-502

At Customers Bank, we believe in working hard, working smart, working together to deliver memorable customer experiences and having fun. Our vision, mission, and values guide us along our path to achieve excellence. Passion, attitude, creativity, integrity, alignment, and execution are cornerstones of our behaviors. They define who we are as an organization and as individuals. Everyone is encouraged to have personal development plans. By doing so, our team members are on their way to achieve their highest potential and be successful in their personal and professional lives.

Work Location: Hybrid in Malvern or West Reading, PA., coming into the office at least 3-days per week with Monday, Tuesday, and Thursday being the set in-office days. If within a 50-mile radius of a Customers Bank location, the expectation is to be hybrid. All subject to change.

Must be legally eligible to work in the United States without sponsorship, now or in the future, to be considered.

Who is Customers Bank?

Founded in 2009, Customers Bank is a super-community bank with over $22 billion in assets. We believe in dedicated personal service for the businesses, professionals, individuals, and families we work with.

We get you further, faster.

Focused on you: We provide every customer with a single point of contact. A dedicated team member who’s committed to meeting your needs today and tomorrow.

On the leading edge: We’re innovating with the latest tools and technology so we can react to market conditions quicker and help you get ahead.

Proven reliability: We always ground our innovation in our deep experience and strong financial foundation, so we’re a partner you can trust.

What You’ll Do:

We are seeking an experienced OFAC/Sanctions Subject Matter Expert (SME) to provide critical expertise in interpreting and applying U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) regulations and other global sanctions programs. This role is crucial in ensuring that the Bank remains compliant with the intricacies of sanction regulations, as OFAC operates under a zero-tolerance policy. The SME will serve as the primary point of contact for sanctions-related queries and will work closely with Compliance, Operations, and Risk teams to mitigate risks associated with sanctions violations.

Key Responsibilities:

• Serve as the Bank’s subject matter expert on OFAC and global sanctions regulations.
• Interpret and apply OFAC regulations and other sanctions-related requirements to ensure the Bank remains compliant.
• Provide guidance to Compliance, Operations, and other relevant teams on sanctions screening and regulatory obligations.
• Monitor and advise on changes to sanctions lists, regulatory updates, and enforcement actions, ensuring timely adjustments to the Bank’s processes and controls.
• Lead the review and response to sanctions-related inquiries from both internal teams and regulatory bodies.
• Develop and maintain policies, procedures, and controls for managing sanctions risk, ensuring compliance with zero-tolerance requirements.
• Conduct training sessions for staff to enhance understanding and awareness of sanctions obligations and risks.
• Collaborate with internal teams to manage and resolve potential sanctions violations and work with external counsel when necessary.
• Provide regular reports to senior management on sanctions compliance status, risks, and mitigation efforts.

What Do You Need?

• Bachelor’s degree in law, finance, risk management, or a related field.
• 7+ years of experience in sanctions compliance, with a strong focus on OFAC regulations.
• Expertise in interpreting and applying complex sanctions rules and requirements.
• Knowledge of global sanctions programs and regulations in addition to OFAC.
• Excellent analytical and problem-solving skills, with the ability to manage sanctions risk in a high-pressure environment.
• Strong communication skills and the ability to work collaboratively with cross-functional teams.
• Professional certifications (e.g., CAMS-Sanctions, Certified Global Sanctions Specialist) preferred.

Technology Skills:

• Ability to work with the Microsoft Suite and learn/work with other Customers Bank’s applications.

Customers Bank is an equal opportunity employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.

We also provide “reasonable accommodations”, upon request, to qualified individuals with disabilities, in accordance with the Americans with Disabilities Act and applicable state and local laws.

Diversity Statement:

At Customers Bank, we believe in working smart, working together, and having fun while delivering innovative solutions and memorable experiences for our customers. We are committed to the continual advancement of a culture which reflects the value we place on diversity, equity, and inclusion. We honor the diverse experiences, perspectives, and identities of our team members, and we recognize that it is their passion, creativity, and integrity that drives our success. Step into your future with us! Let’s take on tomorrow.

Founded in 2009, Customers Bank is a super-community bank with $20.3 billion in assets at June 30, 2022. We believe in dedicated personal service for the businesses, professionals, individuals and families we work with. We offer banking and loan services across Florida, Illinois, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island and Texas.

Customers Bank is a member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation. Customers Bank is an equal opportunity lender. Customers Bank takes pride in delivering extremely high levels of customer service while charging comparatively very low fees; service that makes our clients say, “Wow.”

Customers Bank, with its headquarters located in Malvern, Pennsylvania, is a subsidiary of Customers Bancorp, Inc., a bank holding company. The voting common shares of Customers Bancorp, Inc. are listed on the New York Stock Exchange under the symbol CUBI.

Customer Service driven VEVRAA Federal Contractor, seeking priority referral of qualified protected veterans.
Customers Bank will provide consideration for employment to qualified applicants without regard to their race, color, religion,
national origin, sex/ gender, sexual orientation, gender identity, protected veteran status or disability.

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