Posted 6 days ago 15 views
This role involves overseeing the sanctions screening process for various trade finance transactions, including import, export, letters of credit, bank guarantees, open account, and advance payments. The incumbent will be responsible for reviewing transactions against applicable sanctions and restricted-party lists, ensuring thorough screening of all relevant parties such as customers, beneficiaries, applicants, counterparties, banks, and vessels. The position requires verifying goods, commodities, countries, ports, and trade routes for any sanctions-related concerns and investigating potential alerts or name matches to differentiate genuine matches from false positives.
Key Responsibilities
- Supervise sanctions screening across a range of trade finance transactions to ensure compliance with regulatory requirements.
- Review transactions against sanctions lists and restricted-party databases to identify potential risks.
- Conduct comprehensive screening of customers, beneficiaries, applicants, counterparties, banks, and vessels as applicable.
- Verify goods, commodities, countries, ports, and trade routes to detect any sanctions-related issues.
- Investigate and analyze potential sanctions alerts and name matches, distinguishing genuine matches from false positives using available customer and transaction information.
- Escalate potential sanctions hits appropriately to the designated Compliance or AML function.
- Ensure that transactions subject to regulatory restrictions are not processed without necessary clearance or approval.
- Examine trade documents for inconsistencies, red flags, or attempts to circumvent sanctions.
- Monitor transactions involving high-risk or sanctioned jurisdictions in line with applicable regulations and internal policies.
- Maintain compliance with AML/CFT and sanctions requirements throughout the screening process.
- Collaborate with Trade Finance, Compliance, AML, Operations, and business teams to resolve alerts efficiently.
- Maintain accurate records of screening activities, investigation notes, approvals, and audit trails.
- Monitor adherence to prescribed turnaround times, escalation procedures, and internal controls.
- Support internal audits, regulatory inspections, compliance reviews, and periodic reporting related to sanctions screening.
Required Qualifications
- A minimum of 4 to 5 years of experience in banking operations, with at least 3 to 4 years focused on sanctions screening, AML compliance, or trade finance operations.
- Bachelor’s degree in Finance, Banking, Business Administration, Economics, or a related discipline.
Preferred Qualifications
- Professional certifications such as CAMS (Certified Anti-Money Laundering Specialist) or CGSS (Certified Global Sanctions Specialist) are highly advantageous and preferred.
This position offers the opportunity to work in a critical compliance function within trade finance, ensuring the organization adheres to international sanctions and regulatory standards while mitigating financial and reputational risks.
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Job Details
UBL - United Bank Limited
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