INTERNSHIP - OFAC Compliance
Société Générale - New York NY

Internship Category: Paid

Description
Description
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  • Environment

    DEPARTMENT DESCRIPTION

    Société Générale’s Financial Crime Compliance Team (” FCC team”) is responsible for AML, BSA, USA PATRIOT Act, and OFAC/Sanctions compliance for the AMER operations of an international financial firm. The FCC team performs advisory and control functions across core businesses focused on the prevention of financial crimes. The US Sanctions Compliance team is a central component of the FCC team, and is primarily responsible for screening, investigation, reporting, advisory, training and other sanctions compliance functions for SGUS.

    Mission

    MAIN ACCOUNTABILITIES

    The OFAC Compliance Intern role supports the US Sanctions Compliance team to ensure SGUS’s compliance with OFAC and EU sanctions as well as SGUS and Group Policy requirements.

    The OFAC Compliance Intern would report to the Sanctions Advisory Manager and be responsible for the following:

    • Assist in analyzing sanctions due diligence files to determine whether sufficient controls are in place to mitigate any sanctions risk. This includes conducting a thorough review of the underlying documentation and performing independent research, using LexisNexis, Dow Jones and/or Orbis.
    • Review and decision sanctions screening and negative news escalations arising from various aspects of the KYC process, including during new client on-boarding or periodic reviews.
    • Provide input on the development of targeted training materials on recent sanctions updates and enforcement actions, as well as help assess the sanctions risks for each Line of Business.
    • Participate in special projects in support of the Sanctions Advisory team, including the implementation of new KYC tools.
    • Update and maintain case documentation to ensure proper recordkeeping, include saving all email correspondence and research materials.

    Profile

    COMPETENCIES

    Required:
    • Excellent written and oral communication skills and research skills.
    • Ability to review and understand complex regulations.
    • Ability to work collaboratively within a complex organization, across multiple cultures, geographies, and disciplines.
    • Ability to balance multiple, changing priorities in a dynamic and fast moving working environment.

    Environment

    DEPARTMENT DESCRIPTION

    Société Générale’s Financial Crime Compliance Team (” FCC team”) is responsible for AML, BSA, USA PATRIOT Act, and OFAC/Sanctions compliance for the AMER operations of an international financial firm. The FCC team performs advisory and control functions across core businesses focused on the prevention of financial crimes. The US Sanctions Compliance team is a central component of the FCC team, and is primarily responsible for screening, investigation, reporting, advisory, training and other sanctions compliance functions for SGUS.

    Mission

    MAIN ACCOUNTABILITIES

    The OFAC Compliance Intern role supports the US Sanctions Compliance team to ensure SGUS’s compliance with OFAC and EU sanctions as well as SGUS and Group Policy requirements.

    The OFAC Compliance Intern would report to the Sanctions Advisory Manager and be responsible for the following:

    • Assist in analyzing sanctions due diligence files to determine whether sufficient controls are in place to mitigate any sanctions risk. This includes conducting a thorough review of the underlying documentation and performing independent research, using LexisNexis, Dow Jones and/or Orbis.
    • Review and decision sanctions screening and negative news escalations arising from various aspects of the KYC process, including during new client on-boarding or periodic reviews.
    • Provide input on the development of targeted training materials on recent sanctions updates and enforcement actions, as well as help assess the sanctions risks for each Line of Business.
    • Participate in special projects in support of the Sanctions Advisory team, including the implementation of new KYC tools.
    • Update and maintain case documentation to ensure proper recordkeeping, include saving all email correspondence and research materials.

    Profile

    COMPETENCIES

    Required:
    • Excellent written and oral communication skills and research skills.
    • Ability to review and understand complex regulations.
    • Ability to work collaboratively within a complex organization, across multiple cultures, geographies, and disciplines.
    • Ability to balance multiple, changing priorities in a dynamic and fast moving working environment.

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