SMBC Group

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Sanctions/Fraud Analyst - Night Shift

Sanctions/Fraud Analyst - Night Shift

Job Locations 
US-NJ-Jersey City
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The Sumitomo Mitsui Banking Corporation (SMBC) New York branch Transaction Examination Support (TES) is the group responsible for Bank Secrecy Act, USA PATRIOT Act, OFAC Sanctions compliance and fraud detection for the US Operations. The group’s main functions is to perform real-time sanction screening of all wire transfers, SWIFT messages, ACH Payments, CIF/Account records. Furthermore, The TES group provides advisory, referral of cases, control functions across core businesses and manages the software used for Sanctions screening including updates to sanction lists, daily maintenance and testing of the screening software to ensure is working in an optimal tune mode. In addition, TES group performs review of potential fraud cases including referral to Customers, proper Management reporting and maintains static data updates for CHIPS ABA, FED ABA and SWIFT RMA Authorizations.

The Sanctions/Fraud Analyst role supports the Sanctions compliance team and focuses on managing the end to end process of development, enhancement and implementation of the automated monitoring system. This role requires interaction with a team of Sanctions/Fraud Analyst to manage the transaction volumes, workflow, Customers and other Bank’s Department in order to meet deadlines. The hours for this position are 12 AM to 8 AM.



  • Perform review, research, analysis, documentation, stop and release system-flagged transactions/messages with potential hits to sanctioned parties when determination is clear
  • Escalate questionable cases to Compliance Department with results of research, recommendation and request decision for case disposal along with proper Compliance management sign-off
  • Log cases that have been flagged as well as inquiries from our customers and Compliance and Legal department’s decision to appropriate log sheet
  • Submit maintenance request to IT for updating sanctioned party databases
  • Conduct testing of sanction screening software and make recommendations including test exceptions and rules to mitigate false positive sanction hits
  • Review system-flagged web-instructed transactions for possible fraudulent activity and contact customer or relationship manager as required
  • Conduct Test upgrades to software related to the sanction-filtering process or Fraud detection software
  • Process and maintain SMBC NY Branch SWIFT Relationship Management Application (“RMA”) Authorizations
  • Ensure that the workflow volume for sanction screening and Fraud monitoring system is adequately managed
  • Work closely with the IT Sanctions team to ensure that the filtering tool is working optimally and that filter settings are reviewed periodically
  • Document and maintain accurate and current documents on the rules, exclusions, rationale as to why certain parameters were put in place

Essential Functions:

  • Ensure maintenance of OFAC and sanctioned party databases and pass judgment on potential hits
  • Research and escalate questionable cases to Compliance department with results of research and request their direction/sign-off
  • Maintain a record of the formal decisions of Compliance in relation to OFAC
  • Assist in testing and developing software to support Compliance
  • Suggest and test exceptions and rules to mitigate false positive sanction hits
  • Various Projects



Key Competencies:

  • Thorough understanding of legal aspects and recordkeeping requirements of banking regulations relating to money transfer (especially Bank Secrecy Act, USA PATRIOT Act)
  • Knowledge of Montran and/or FircoSoft helpful (experience on similar funds transfer/filtering systems may substitute)
  • Basic understanding of accounting principles and practices
  • Ability to use Microsoft suite to produce reports, Familiarity with Lotus Notes for email and databases
  • Effective communication skills to convey information to a variety of staff levels, up to senior management

Preferred Experience:

  • Preferred minimum of 2-4 years' working experience in relevant OFAC compliance department
  • Thorough understanding of legal aspects and recordkeeping requirements of banking regulations relating to money transfer, Bank Secrecy Act and USA PATRIOT Act 

Preferred Education/Licenses/Certifications/Registrations:

  • Bachelor’s degree or equivalent work experience and training

Other Skills, Abilities and/or Training: 

  • Ability to use the Microsoft Suite to produce reports, etc.
  • Strong knowledge of Payments such as FED, CHIPS, SWIFT & ACH; Fircosoft sanction screening software is a plus
  • High level skills to develop test scripts and detect “bugs” in software testing
  • Strong skills to effectively communicate with colleagues throughout the SMBC organization, up to senior management
  • Proficiency in MS Excel, Word, PowerPoint, Lotus Notes, Share Point

Physical Demands
The physical demands described below are representative of those that must be met to successfully perform the essential functions of the job. The employee is:

  • The candidate should be able to lift up to 10 lbs.

The work environment characteristics described here are representative of those encountered while performing the essential functions of the job. The employee is:

  • Team oriented (coordination with peers)
  • Flexible (adaptable to changing priorities and demands of stakeholders)
  • Fast-paced (hundreds of decisions per day)
  • Able to work overtime as job may occasionally require
  • Able to work night shift