Compliance Sanctions Officer - Office of Foreign Assets Control (OFAC) Sanctions Regulatory Compliance
Location: Singapore, Singapore
Type: Full Time
Internal Number: 20387700
Citi's Global Legal Affairs and Compliance(GLAC) empowers and protects Citi by providing legal, compliance, investigative, and security services to our firm. We manage compliance risk, provide legal analysis and advice, protect Citi's people and businesses, advocate for legal and regulatory outcomes that benefit our firm and our clients, and ultimately promote behavior that is consistent with Citi's mission and culture.
Serves as a senior compliance risk officer for Independent Compliance Risk Management (ICRM) responsible for establishing internal strategies, policies, procedures, processes related to monitoring and fostering awareness of sanctions regulatory requirements that Citi must comply with; assessing related sanctions risk exposure, overseeing the quality of sanctions control processes and setting global standards to manage and mitigate those sanctions risks and protect the franchise. In addition, provides support for the collation of potential breaches of sanctions from across the firm and work with contacts in the Business and Compliance to ensure consistent and effective application and implementation of, and controls to evidence adherence to, relevant sanctions related global standards, policies and procedures.
Working collaboratively with the team to provide advice to business with respect to applicability of policies and implementation of the economic sanctions program and regulatory changes.
Analyzing data, preparing and presenting regional and global reports related to sanctions risk assessments, and monitoring of sanctions related issues and escalations with senior management and global partners.
Providing input on new business initiatives, new products, and advise on complex transactions.
Partnering with functional partners, as applicable, to ensure potential risks are appropriately vetted and addressed. Identifying and escalating to the Chief Sanctions Officer material risks and significant instances of not adherence to the Framework by accountable front line units; directing investigations in coordination with Global Investigations Unit (GIU), Citi Security and Investigative Services ( CSIS), Legal, Human Resources (HR) or as appropriate.
Monitoring adherence to Citi's Global Sanctions Policy and relevant procedures; staying current on key Sanctions regulatory changes, key enforcement actions and related industry trends.
Overseeing adherence to procedures and processes, to ensure compliance with policies ensuring that front line units meet required standards. Promoting global consistency of Sanctions ICRM practices and policies - within the line of business as well as cross-sector.
Interacting with Management to raise awareness of Sanctions trends, emerging issues, remedial actions or enhancements to the program. Assessing the impact of issues/violations (legal/regulatory, policy, reputational, etc.) and dimensions control process gaps to help management define disciplinary and corrective actions, as appropriate.
Participating in and managing, as appropriate, various internal assurance processes, e.g. Regional Enterprise wide and Horizontal risk assessments, self-assessment, internal audit or compliance assurance reviews. Supporting efforts in connection Internal Audit and functional regulators in Program exams and evaluations; tracking and challenging remedial actions from the front line units.
Drafting and editing sanctions-related reference materials; supporting the various electronic record-keeping logs for sanctions licenses, voluntary disclosures; subpoenas etc.; participating in sanctions training programs.
Additional duties as assigned.
Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.
Preferably expertise of Anti - Money Laundering (AML) and Sanctions regulations, risks and typologies
Knowledge of Compliance laws, rules, regulations, risks and typologies
Must be a self-starter, flexible, innovative and adaptive
Strong interpersonal skills with the ability to work collaboratively and with people at all levels of the organization
Strong written and verbal communication and interpersonal skills
Ability to both work collaboratively and independently; ability to navigate a complex organization
Advanced analytical skills
Ability to both work independently and collaborate with team members
Excellent project management and organizational skills and capability to handle multiple projects at one time
Proficient in MS Office applications (Excel, Word, PowerPoint)
Demonstrated knowledge in area of focus
Bachelor's degree; experience in compliance, legal or other control-related function in the financial services firm, regulatory organization, or legal/consulting firm, or a combination thereof; experience in area of focus; Advanced degree preferred
Job Family Group: Compliance and Control -------------------------------------------------
Time Type: Full time ------------------------------------------------------
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