SCS – Sanctions Compliance Specialist

What Sanctions & Counter-Proliferation Finance Are

• Understand the concept of Sanctions and Embargoes.
• Identify the parties that issue sanctions (United Nations Security Council, European Union, and OFAC).
• Differentiate between types of sanctions (comprehensive, sectoral, targeted, global human rights).
• Comprehend the consequences of non-compliance with sanctions.
• Define and understand proliferation and proliferation finance and their obligations.
• Conduct proliferation finance risk assessment
• Identify red flags and typologies of proliferation finance.

International Context

• Learn about the sanctions imposed by the UN, the European Union, and the Office of Foreign Assets Control (OFAC).
• Understand the roles of governments, regulators, and financial institutions in sanction compliance.

Processes

• Understand the customer onboarding and account opening procedures.
• Contrast automatic versus manual name screening.
• Consider important factors during the account opening process review.
• Understand when and how the name screening should be undertaken.
• Acknowledge the significance of training in sanction compliance.
• Learn about the screening system's matching ranks and algorithms.
• Understand Delta Files and documentation.
• Learn how to perform manual and automated name screening.
• Understand de-risking activities.
• Learn about Banking Authenticated Messages (SWIFT) and the different types of SWIFT messages.

Systems

• Discover Computer Assisted Audit Techniques (CAAT).
• Understand how to use internal system lists to ensure sanction compliance.
• Discover the general sanctions software highlights.
• Learn how to reduce the number of false positives in name screening tools.
• Understand the Wolfsberg Sanctions Screening Guidance.
• Learn how to minimise the number of false alerts generated by name-screening tools.

Reporting

• Understand the structure of violation reports.
• Analyze the findings of violation reports.

Countries' Sanctions Highlights (Excluded from the assessment).

• Learn about Russia's sanctions and countermeasures, as well as those imposed on China, Hong Kong, Syria, North Korea, Iran, and Cuba.