Senior Analyst, AML Optimization - Req. 1704024
The Sr. Analyst, AML Optimization will develop models involving tuning, calibration, segmentation and optimization for regulatory compliance. The Sr. Analyst will develop the foundation for future modeling and calibration as regulations change. The Sr. Analyst role is responsible for monitoring and measuring the success of AML transaction monitoring, customer risk scoring and OFAC/sanctions screening models. The Sr. Analyst role is responsible for the different monitoring/detection processes and for escalating issues when appropriate. Additionally, the Analyst will use advanced statistical techniques to create risk models and ensure appropriate rigor around our optimization process using clustering and regression analysis. The role would require working closely with the Optimization Senior Manager to build a data analytics organization for AML transaction monitoring and OFAC/sanctions screening operations.
Essential Duties and Responsibilities:
· Creating detailed plans regarding the scheduling of tuning and testing related to the production and pre-production monitoring rules within various AML monitoring and OFAC/sanctions screening technology and analytics solutions systems.
· Utilizing visualization techniques to display data and the results of analysis in clear straightforward presentations that can be understood by non-technical readers.
· Develop models and execute ongoing monitoring for client transactions.
· Determine gaps in our optimization process and make recommendations for continued regulatory compliance.
· Defining the methodology/approach in a clear and concise manner to support the model optimization efforts.
· Playing a key role in communicating issues identified during the tuning/testing process to management and IT programming/technical staff.
· Developing documentation related to production and pre-production tuning efforts and parameter changes for AML transaction monitoring and OFAC/sanctions screening systems to ensure a comprehensive audit trail is maintained.
· Assisting management as directed for tracking system changes, data validation and parameter changes for AML monitoring and OFAC/sanctions screening systems to ensure a comprehensive audit trail is maintained.
· Assisting with the evaluation of monitoring and screening solutions and correcting errors to maintain systems following implementation.
· Planning and preparing technical reports, memoranda, and desktop procedures in order to document program development.
· Individually leading projects and successfully collaborating on larger projects.
· Assisting management in conducting data validation and other system testing.
· Meeting with internal audit, model validators and regulators as needed.
· Mentor junior analysts as appropriate.
· Financial services companies (retail banking, small business banking, commercial, institutional, private banking).
· Statistical techniques and methodology (sampling approaches), and/or regulatory/risk analyses.
· Statistical/data analytical skills, including data quality validation, descriptive statistics and predictive modeling experience.
· AML and Sanctions regulations, including the Bank Secrecy Act, USA PATRIOT Act and OFAC.
· Statistical software packages such as SAS, SPSS, etc.
· AML transaction monitoring systems (preferably Mantas) and/or OFAC/Sanctions screening systems (preferably LexisNexis Bridger).
· MS Excel and Word.
· StrongVerbal and written communication.
· Understand production output from AML monitoring and OFAC/sanctions screening technology.
· Produce meaningful reports from output of AML monitoring and OFAC/sanctions screening technology for communication to senior management.
· Execute the ongoing testing and model optimization strategy.
· Develop procedures documenting the processes implemented by the AML Optimization team.
· Leverage knowledge of advanced statistical techniques to create models
Educational/Previous Experience Requirements:
Bachelor’s Degree (B.A.) from a four-year college or university in a related field and three (3) to five (5) years of experience preferably in compliance in the securities or banking industry with a focus in governance and anti-money laundering activities.
Prefer Masters or PhD degree in Mathematics or Statistics with focus in complex data analysis and statistical tools.
Any equivalent combination of education, training and/or experience approved by Human Resources.