ST0059
The organization has appointed a dedicated OFAC sanctions compliance officer [FN1: This may be the same person serving in other senior compliance positions, e.g., the Bank Secrecy Act Officer or an Export Control Officer, as many institutions, depending on size and complexity, designate a single…
Plain-language summary
What it actually means.
Plain-language summary forthcoming. Source text below.
Source text
As written.
The organization has appointed a dedicated OFAC sanctions compliance officer [FN1: This may be the same person serving in other senior compliance positions, e.g., the Bank Secrecy Act Officer or an Export Control Officer, as many institutions, depending on size and complexity, designate a single person to oversee all areas of financial crimes or export control compliance.]
Assessed by HEXDI
What HEXDI assesses.
- M2
1 — PROGRAM SETUP AND ADMINISTRATION
Specific employee with sufficient qualifications and experience is responsible for coordinating development, implementation, maintenance,…
- M2
2 — PROGRAM SETUP AND ADMINISTRATION
There are a sufficient number of qualified employees assigned to perform key compliance responsibilities.
- M2
5 — PROGRAM SETUP AND ADMINISTRATION
Program provides backup employees to perform the responsibilities of employees with key responsibilities under the program when the primary…
- M4
1 — JURISDICTION, CLASSIFICATION, AND MARKING
Program identifies the roles and responsibilities of employees and/or relevant operational units assigned to administer commodity…
- M6
1 — TRANSACTION SCREENING
Program identifies the roles and responsibilities of employees and/or relevant operational units assigned to administer the screening…
- M11
1 — AUDITS AND ASSESSMENTS
Program designates a qualified employee with requisite authority, training, and experience to coordinate and supervise program audits.
Related
Other DOT standards.
Source & revisions
- First mapped
- Jun 8, 2022
- Last updated
- May 26, 2026 (29m ago)
- Source
- Framework for OFAC Compliance Commitments