The AML Model Testing Analyst is responsible for maintaining and updating AML model documentation, maintaining and updating procedures and processes related to AML systems optimization methodologies, AML risk coverage assessments and calibration/tuning execution procedures. Responsible for conducting data analysis, above the line and below the line testing of assigned portions of ongoing AML systems optimization and calibration efforts for all AML models. Validates and monitors data integrity/systems balancing reports to ensure that AML transaction monitoring systems and customer risk scoring systems have ongoing data reconciliation with source systems and ensure that systems are balanced and issues are resolved to ensure the data integrity of key AML systems. Has responsibility to ensure that the BSA AML models program meets all regulatory requirements and expectations related to model risk management. Work is generally of moderate complexity and on occasion be of higher complexity, following established department policies and procedures. Understands and complies with requirements of all laws and regulations that are applicable to this position
Responsible for assigned data analysis, above the line and below the line testing a part of calibration, tuning and optimization of the suspicious activity monitoring system, customer risk scoring systems and Watch list (OFAC) filtering systems.
Assists with the creation and updates of AML system and watch list (OFAC) model documentation.
Assists with the development and updating of key analytics related to AML systems to include Key Risk Indicators, Key Performance Indicators and overall systems efficacy.
Assists with testing for data integrity program of AML related systems and working with key stakeholders to ensure reporting of balancing of data/data integrity of source systems, source files and the AML systems receiving those files.
Prepares Model change control documentation.
Responsible for testing to ensure that watch list systems are appropriately updated with updated watch lists as applicable.
Assists with the analysis and updating of the AML coverage assessment and utilizing the bank's BSA risk assessment to identify gaps in scenario coverage
May be assigned some systems administration responsibility including access control review of systems and shared directories.
Responsible for adherence to all compliance programs, including but not limited to, completion of all required and assigned training modules by established due dates.
Minimum of 3 years of experience required obtained in BSA/AML and OFAC compliance with an emphasis on AML model analytics and AML model optimization in a financial institution of a similar size.
Must have detailed knowledge of BSA, AML, CIP, OFAC, and USA PATRIOT Act regulations as they relate to a commercial financial institution.
Certified Anti-money Laundering Specialist (CAMS) or related certification a plus.
Must possess a working knowledge of BSA/AML and OFAC systems, maintaining system documentation, system reporting, tuning and optimization.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)