Closing Date: 01 February 2026

Salary Range: $0.00 - $0.00

Worker Type:

Contractor

Role:

A mandatory element of a bank’s risk foundation is establishing and maintaining a satisfactory risk-based anti-money laundering (“AML”) and sanctions compliance program tailored to the needs of the bank’s operations.

The purpose of an AML and sanctions compliance program is to prevent the bank from being used, intentionally or unintentionally, by criminal elements for money laundering, terrorist financing activities, or furtherance of any other unlawful activity.  All AML programs must include a risk-based transaction monitoring function suitable to the types of products/services provided by the bank, as well as a sanctions control function to ensure that customers, their related parties, and their transactions do not breach an applicable sanctions program.

Applicable law in the USA sets forth minimum AML and sanctions requirements, which are supplemented by Group and Branch-level internal policies.  The AML unit in NAB Americas is the second-line function responsible for overseeing the day-to-day AML and sanctions compliance process to ensure that NAB Americas is following the procedures adopted to ensure compliance with laws/regulations and internal requirements, and that those procedures have been designed and implemented properly to ensure compliance.

The role of the OFAC Officer supports fulfilling AML and sanctions obligations by providing the appropriate subject matter expertise and independence from the business to assist in maintaining a satisfactory risk-based AML/sanctions compliance program.  The OFAC Officer has primary responsibility for day-to-day functions while the Head of AML supervises overall program development, training, special projects, etc.  Core responsibilities include management and maintenance of the OFAC/AML applications in Prime; OFAC, AML, and WorldCheck  case/alert management; investigation of customer transactions; generation of customer activity analyses in connection with AML cases/alerts and periodic activity and customer reviews; liaison with OFAC regarding resolution of possible sanctions programs violations; OFAC reporting; UAT on changes to Prime and other systems used in AML/OFAC data management; liaison with FCR regarding AML/sanctions matters in NAB Americas.   Primary duties include but are not limited to:

• Maintain both OFAC Reporter and BSA Reporter modules ensuring application remains fit for purpose.
• First or second review of cases/alerts in accordance with the Branch’s policy and procedures set forth in the transaction monitoring procedures manual.
• Assist in assembling information to analyse and resolve transactions and patterns of transactions related to AML alerts generated by Prime.
• Ensure that resolution of AML alerts are properly explained and documented in Prime and completed timely.
• Ensure that resolution of OFAC alerts are properly explained and documented in Prime
• Consult with RM/Trader for explanations of deviations in customer activity
• Supervise FinCen 314(a) program
• Daily Prime to Murex/Kapiti reconciliation
• Maintain customer database integrity with Prime
• Escalate any unusual or possibly suspicious activity to the Head of AML
• Provide monthly statistics and emerging issues reports to FCR for use in global AML forum.
• Hands-on oversight and training of other AML unit employees in performing BAU processes.

Core responsibilities:

Ensure robust 2nd line of defense functions of BSA-AML and OFAC Compliance; identify opportunities to optimise return within risk appetite;  provide advice; and challenge to strengthen the risk and control environment for NAB Americas.  Specific responsibilities in connection with the above include:

• configuration and testing of Prime’s AML and OFAC parameters to ensure optimal effectiveness for the Branch’s operations;
• in conjunction with UKIT manage OFAC update process in accordance with procedures with main objective of ensuring updated file has been loaded in Prime;
• test OFAC updates to ensure they have been loaded properly and no excluded name has been listed, also sample for inappropriate or missing keywords;
• maintain knowledge of AML/sanctions laws and regulations governing the operations of NAB Americas, and assist Head of AML to design and modify existing controls as necessary to ensure compliance;
• assist in conducting compliance self-tests for applicable laws and regulations, analyse possible weaknesses revealed by self-testing results and work with Head of AML to design remedial action plans;
• represent NAB Americas at various Group forums, attend vendor sponsored events, and remain on top of the FIS roadmap for project development, enhancements, and timelines.

Success:

·        We make it simple for our customers and bankers

·        Enable a strong foundation for growth

·        Make sense of a changing world

·        Leadership and talent factory for NAB

·        Partner with business to enable performance

Deliverables defining success:

·        Improved response times and process improvements

·        Effective oversight of the Prime application and product development ensuring application remains fit for purpose

·        Adherence to OFAC & AML procedural commitments and controls. Engage with Head Office sharing industry insight, best practices, and explore efficiency gains.

 

Performance Plan

·        The OFAC Officer is primarily assessed on BAU components outlined in Core Responsibilities (see above). 

·        Response time and process improvements can be measured by trending percentages of OFAC alerts over time.

·        Annual independent and regulatory reviews in conjunction with periodic model validations will determine if the Prime application remains fit for purpose.

·        Annual independent and regulatory reviews will measure success relative to procedural commitments and controls.

·        Peer feedback will measure success with Head Office engagement.

Financial accountability

Effective cost management associated with FIS, WorldCheck, and Prime model validations.

Direct reports: Nil

The Person

Critical Experiences:

• Describe 3 experiences that the candidates must have in their past employment history

• 15 years’ experience in BSA/AML/sanctions program supervision, including both transaction monitoring, sanctions clearing and KYC administration
• 15 years’ experience in the banking industry, including experience with international banks’ US operations in general.
• Extensive involvement with regulatory examinations and independent reviews: preparing document request materials, interaction during the review, responding to written communications, and designing and administering remedial action plans. 

Qualifications:

• Any Tertiary and other professional qualifications required

• ACAMS qualification or AML regulatory examination experience.

Core Skills & Capabilities required:

• The must have hard (technical) and Capabilities required

• Deep understanding of sanctions and AML risks associated with transactional activity.
• Proven experience managing a high volume processing operation
• Proven experience with maintaining a proactive and productive relationship with external regulators, examiners and internal audit.
• Demonstrated ability to create value by managing risk.

It’s more than a career at NAB. It’s about more opportunity, more moments to make a difference and more focus on you.

Your job is just one part of your life. When you bring your ideas, energy, and hunger for growth to us, you’ll be recognised and rewarded for your contribution in return. You’ll have our support to excel for our customers, deliver positive change for our communities and grow your career. 

It’s a good time to see what more you can find at NAB as a

Contractor – Operational Risk and Compliance and FCR/Sanctions

A diverse and inclusive workplace works better for everyone.
At NAB, we’re intent on building a culture we can all be proud of. One based on trust and respect. An uplifting environment where every single one of us feels appreciated and empowered to be our true, authentic selves. A diverse and inclusive workplace where our differences are celebrated, and our contributions are valued. It’s a huge part of what makes NAB such a special place to be.