Director - Sanctions (Finance)

Position Title
Director - Sanctions

Location
Hicksville, NY 11801

Job Summary

Pay Range: Local Minimum Wage - $0.00 - $0.00

Job Responsibilities:

The Sanctions Director is responsible for developing, implementing and maintaining a stand-alone Sanctions Unit that oversees the screening of all wires, customer names, addresses and transactions for the Bank. Directs and manages a team responsible for reviewing screening alerts and identifying any reportable activity to various sanctions authorities. Responsible for the daily operations of the bank wide Sanctions screening process. This position is expected to be the subject matter expert regarding sanctions concerns and the central point of contact for sanctions related matters. Responsible for appropriate and required regulatory reporting. Ensures that all company activities meet applicable banking regulatory requirements.

JOB RESPONSIBILITIES

• Design, implement, and maintain a comprehensive enterprise sanctions framework.
• Lead and manage the sanctions team, providing strategic guidance and driving efficiency improvements where applicable.
• Act as the primary point of contact for OFAC, handling day-to-day communication and coordination.
• Serve as the primary advisor to the first line of defense on transactions and customers with potential sanctions-related risks.
• Provide expert guidance to the second line of defense when sanctions concerns arise during Enhanced Due Diligence (EDD) or potential Suspicious Activity Report (SAR) filings.
• Function as the escalation point for the Financial Intelligence Unit (FIU) in cases involving level 1 sanctions hits.
• Serve as the subject matter expert (SME) for sanctions-related training and initiatives for both first- and second-line teams.
• Responsible for talent management functions including: employment, performance evaluations, staff development/training, disciplinary actions, succession planning and ensuring all staff comply with compliance requirements.

ADDITIONAL ACCOUNTABILITIES

• Performs special projects, and additional duties and responsibilities as required.
• Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.

JOB REQUIREMENTS

Required Qualifications:

• Education level required: Undergraduate Degree (4 years or equivalent) Business, Finance or related field.
• Minimum experience required: 12+ Years experience in banking or financial services with a minimum of 10 years of experience in OFAC processing.
• Minimum of 7 years of management experience and/or experience leading and directing staff.

Preferred Qualifications:

• Education level preferred: Master's Degree (or Postgraduate equivalent).

Job Competencies:

• Excellent knowledge of all BSA/AML and OFAC related regulations with the ability to interpret the laws and implement into policies and procedures.

• Flagstar is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identify, or national origin.