Administrator, Compliance (Finance)
About Northern Trust:
Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.
Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
Job Responsibility:
1. Reviews and analyze escalated OFAC/Sanction alerts related to various types of transactions, i.e. Domestic and International Wire payments, Swift payments, IAT and Securities that alert from the sanction screening system. Investigate and make accurate decisions on appropriate actions to take to determine if they are permissible under Office of Foreign Asset Control (OFAC) and/or any other applicable jurisdictional Sanctions program.
2. Perform Quality Control Reviews on areas that perform sanction screening reviews, to assure compliance with applicable regulatory requirements and adherence to internal policies/procedures.
3. Advises business partners on the Sanctions Compliance Program and applicable laws, regulations, rules and standards, including keeping them informed of developments or changes that may affect their area.
4. Identifies any Compliance Sanction Risks associated with the Company's activities.
5. Carries out Compliance-related activities through direct interaction with management and Risk Huddles.
6. Collaborates on projects with Team members, exhibiting ongoing learning and basic project management skills.
7. Collaborate with team members and internal partners as needed related to OFAC which may include: creating IntelliTrac case, corresponding with banks or partners for additional details, relaying of the details to the partners or banks, returning of payment, etc.
8. Work on Special projects as assigned.
9. Participate and complete required training, ie. Departmental new hire, industry, and corporate.
10. Responsible for following established guidelines and identifying, researching, and resolving or escalating issues as appropriate. Expected to take initiative to resolve basic/routine issues independently but refers more complex problems to supervisors/experts.
11. Prepares management and staff level reports related to various Compliance requirements.
12. Perform tasks as assigned by management.
Knowledge and experience:
- Knowledge of applicable U.S. Sanctions laws and regulations, usually acquired through formal education or experience, is preferred.
- At least 2-5 years of related work experience; prior work in an OFAC Sanction's role strongly preferred, but not required.
- Experience working with Fircosoft or Sanctions filtering application is a plus.
- Knowledge and/or previous experience with wire transactions, including understanding SWIFT payments are a plus.
- Organizational skills required to coordinate compliance activities and training.
- Strong analytical and problem-solving skills are required.
- Excellent oral and written communication skills are required.
- In-depth functional / industry knowledge is required
- Strong technical skills and knowledge of transaction processing systems is preferred.
- Ability to proactively and independently research, gather evidence for compliance documents.
Hours:
The hours for this position are 8:30 a.m. to 5:00 p.m. CST
Salary Range:
$48,000 - 72,000 USD
Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.
Working with Us:
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.
Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.
We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater
Reasonable accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com .
We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.
Apply today and talk to us about your flexible working requirements and together we can achieve greater.
