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, Vice President
Mitsubishi UFJ Financial Group
New York, NY, United States
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Description
Discover your opportunity with MUFG Bank, the 5th largest financial group in the world with total assets of over $2.4 trillion (as ranked by SNL Financial, April 2016) and 140,000 colleagues in nearly 50 countries. In the U.S., we’re 13,000 strong, working together to positively impact every customer, organization, and community we serve. We achieve this by delivering on our values, putting people first, fostering long-term relationships built on honesty and mutual understanding, and inspiring the best in each other. This is all part of our inclusive, high-performing culture supported by Total Rewards that include our cash balance pension plan. Join a team that’s working to fulfill its vision to be the world’s most trusted financial group.
Major Responsibilities:
The Global Sanctions Compliance Program Monitoring and Quality Assurance, Vice President in the Global Sanctions Compliance Department will be responsible for supporting implementation of latest sanctions policy requirements across MUFG, including within other regions and local branches and other legal entities. The Program Monitoring team will comprise of MUFG's in-house subject matter experts on sanctions policy requirements and monitoring processes. As the MUFG enterprise operates globally across numerous jurisdictions, we must comply with varying Sanctions programs administered by a range of different regulators. The team’s core responsibilities include:
• Monitoring and reviewing the implementation of internal sanctions policy requirements (e.g. customer and transaction screening, alert handling, list management, investigations, etc.);
• Drafting monitoring reports to address observations and findings;
• Reviewing internal audit, compliance testing, and other internally identified issues related to sanctions compliance controls and formulate effective Monitoring plans that are sensitive to / incorporate the findings;
• Communicating with other regions on Monitoring expectations and to ensure timely reporting and resolution of identified sanctions compliance-related risk/control issues;
• Developing a comprehensive Monitoring policy/procedure framework;
• Engaging with regulators, audit, and other parties on MUFG’s sanctions compliance program to include managing Monitoring-related responses on sanctions compliance-related issues;
• Compiling and analyzing sanctions related risk information and intelligence to ensure timely Monitoring of risk management and compliance with regulatory obligations;
• Assessing material changes to the global sanctions policy and regulatory landscape and ensuring that MUFG’s Monitoring framework and risk management practices dynamically adapt to meet emerging risks.
The role reports to the Director, Global Sanctions Compliance Program Implementation based in New York, and may require international travel.
Major Responsibilities:
• Providing subject matter expertise in the Monitoring review of internal sanctions compliance-related requirements, which includes performing timely and complex reviews of overseas MUFG offices in a relatively short time frame
• Overseeing the creation and implementation of a policy/procedure framework designed to enhance risk management practices
• Formulating robust Monitoring responses to implementation gaps and other issues identified through gap assessments, internal audit and compliance testing findings, etc.
• Participating in weekly and monthly sanctions governance meetings with Senior Management from NY, London, Tokyo, and Singapore; includes presenting on new developments within the various sanctions regimes
• Establishing strong working relationships with Regional and branch-level sanctions personnel to facilitate the implementation of Monitoring recommendations
• Providing guidance on industry best practices on sanctions related processes
• Supporting general compliance activities across the organization and other duties, including special projects, as assigned
• Reporting on the status of such matters to senior management as needed
Qualifications
• 7- 10 years of experience working in sanctions compliance at a financial organization and/or in a regulatory agency charged with sanctions oversight; experience working at the Office of Foreign Assets Control (OFAC) is desirable but not required.
• Knowledge and expertise in the laws and regulations administered by various regimes such as OFAC, EU, and UN; experience in developing and implementing a holistic sanctions compliance program to meet sanctions requirements at a complex, global financial institution.
• Ability to maintain effective working relationship with regulators externally and key internal stakeholders in a global, cross-cultured matrixed environment.
• Strong management and communication skills are necessary.
• Bachelor’s degree required.
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
We are proud to be an Equal Opportunity/Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.
A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it’s the bank’s policy to only inquire into a candidate’s criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses.