Sanctions Advisory Manager

Sanctions Advisory Manager | 3-6 Month Contract | £800/day Inside IR35 | Remote

The purpose of this role is execution of the Group-wide Sanctions Level 3 investigation model, including making final decision on Level 3 sanctions escalations. Deputising for the Head of Sanctions on this matter where required. This will support the client in ongoing compliance with the relevant financial crime laws and regulations.

An understanding of SWIFT payments, trade finance and how transactions settle globally and knowledge of the regulatory/legislative landscape for sanctions across multiple jurisdictions is essential for this role.

Project Background:

• To provide interpretation and guidance on the evolving and often conflicting sanctions for the business. This requires Sanction SMEs to consider and document this guidance. Whilst Legal are supporting, they have advised of limited capacity and so the majority of the activity is sitting with the Sanctions team.
• At a recent industry event it was stated that we are only 50% way through the current sanctions and therefore new sanctions packages are expected to be imposed.
• This SME guidance is required in relation to individual enquiries but also to ensure that our current policy reflects the changes and the guidance when ready. It also supports the identification of topics for progression at external forums. Our current policy specialist is returning to work due to a health issue and due to the nature of the health issue is currently unable to fully complete that task.
• The Sanctions team deal with L3 Payment Filtering and Client Screening cases and so this contractor is required to provide additional capacity in the short term.

Key Responsibilities

• Reviewing and making decisions on Level 3 sanctions screening cases referred to the Sanctions team, including issuing one-off approvals.
• Providing 4-eyes approval of the advice and decisions of Sanctions Analysts
• Carrying out timely and accurate reporting to HM Treasury, and OFAC via the OFAC compliance officer, on sanctions related matters.
• Providing support and advice to all business units within client on sanctions matters, acting as a point of escalation for complex cases.
• Providing day-to-day advice on matters related to the client Sanctions Policy and its application to the business transactional activity in all jurisdictions in which the client operates.
• Provide advice to business on sanctions related queries, approvals and escalations.
• Making decisions on level 3 investigations involving potential or confirmed sanctions hits and providing 4-eyes validation and approval of Level 3 referrals from Sanctions Advisory Analysts
• Liaising with businesses, managing policy breaches and agreeing actions for confirmed hits as appropriate
• Supporting and providing feedback on the case handling processes for level 1 and level 2 investigations (performed by Shared Services)
• Report / escalate sanctions related hits and other sanctions related issues and breaches to management in line with agreed escalation requirements.