There is established within the Department of the Treasury, the Office of the Undersecretary for Terrorism and Financial Crimes, who shall serve as the head of the OTFI, and shall report to the Secretary of the Treasury through the Deputy Secretary of the Treasury. The Office of the Undersecretary for Terrorism and Financial Crimes shall be the successor to the Office of the Undersecretary for Enforcement.

The Undersecretary for Terrorism and Financial Crimes shall be appointed by the President, by and with the advice and consent of the Senate.

There is established within the OTFI the position of Assistant Secretary for Terrorist Financing.

The Assistant Secretary for Terrorist Financing shall be appointed by the President, by and with the advice and consent of the Senate.

The Assistant Secretary for Terrorist Financing shall be responsible for formulating and coordinating the counter terrorist financing and anti-money laundering efforts of the Department of the Treasury, and shall report directly to the Undersecretary for Terrorism and Financial Crimes.

implementation of titles I and II of the Bank Secrecy Act;

United States economic sanctions programs;

combating terrorist financing;

combating financial crimes, including money laundering, counterfeiting, and other offenses threatening the integrity of the banking and financial systems;

combating illicit financing relating to human trafficking;

other enforcement matters;

those intelligence analysis and coordination functions described in subsection (b); and

the security functions and programs of the Department of the Treasury.