Sanctions Officer

Job Purpose :

The Sanctions Officer is responsible for supporting the Sanctions team Leader in implementing and maintaining the bank's sanctions compliance program. This role involves screening transactions, customers, and ensuring adherence to regulatory requirements related to anti-money laundering and countering the financing of terrorism.

Duties & Responsibilities:

• Conduct regular sanctions screenings of transactions and customers, ensuring compliance with regulatory requirements and internal policies
• Monitor transactions for potential sanctions violations, identifying and documenting suspicious activities for further investigation
• Support the implementation of Sanctions policies and procedures, ensuring that all processes adhere to regulatory standards and international best practices
• Ensure the bank’s internal negative list is up to date with all backlist names
• Perform a daily review and validation of the uploaded lists to ensure it is correctly uploaded to the sanctions screening systems
• Conduct screening for all secrecy disclosure and freezing orders received from CBE, EMLCU or other regulated bodies
• Participate in the development and delivery of training programs for staff in branches and relevant departments
• Work closely with other departments, including AML, regulatory, business, and Legal, to address sanctions-related inquiries and provide guidance on compliance issues
• Maintain accurate records of sanctions screenings, investigations, and compliance activities, ensuring documentation is readily available for audits and reviews
• Stay updated on changes in sanctions regulations and assist in implementing necessary adjustments to the bank's compliance framework

Job specification:

Education:

• Bachelor’s degree in finance, Business, or a related field

Experience:

• Minimum 2 years of experience in Sanctions
• Basic understanding of CDD regulations, KYC requirements, and Money Laundering and terrorist financing risk management principles
• Proven ability to work collaboratively in a dynamic environment