Sanctions Compliance Specialist
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A Sanctions Compliance Specialist ensures that their organization conducts business in accordance with the economic and trade sanctions enforced by various government agencies. They work to prevent the flow of money to individuals, businesses, or countries that are subject to sanctions. Those working in this role ensure that their organization does not engage in business with sanctioned organizations, as the penalties can be quite severe.
What Does a Sanctions Compliance Specialist Do?
Sanctions Compliance Specialists are responsible for developing and implementing policies and procedures to ensure that their organization complies with sanctions regulations. They also monitor transactions and screen customers to identify potential violations. Additionally, they work with law enforcement and other regulatory agencies to investigate and prevent sanctions violations.
The day-to-day responsibilities of a Sanctions Compliance Specialist may include:
