Global Financial Crimes Model Risk – Risk Management – Executive Director

Global Financial Crimes Model Risk – Risk Management – Executive Director

Requirements

• > 15 or more years in fraud and financial crimes models and/or relevant domain
• > Deep understanding of AML regulations and compliance requirements, and AML model risks.
• o Working knowledge of industry landscape of fraud and financial crimes modeling approaches including vendor models
• o Experience working with model vendors to obtain sufficient information and analysis regarding proprietary models to perform model validations and manage model risks.
• o Knowledge of fraud and financial crimes monitoring processes for digital banking or trading is a plus.
• o Regulatory experience is a plus
• > Knowledge of database management systems
• > Experience engaging with regulators and internal audit on topics related to fraud and financial crimes models

Responsibilities

• Oversee and guide independent model reviews compliant with Model Risk Management policies and procedures, regulatory guidance and industry leading practices, including evaluating conceptual soundness, quality of modeling methodology, model limitations, data quality, and on-going monitoring for Firm’s financial crimes models including Anti-Money Laundering (AML) models, sanctions screening, and fraud, compliance and surveillance.
• Challenge the model validation team on model risk management practices for fraud and financial crimes models, and on subject matters essential to validating these models.
• Understand the use and effectiveness of fraud financial crimes models and tools within the context of relevant Firm businesses
• Communicate model and tool validation conclusions to relevant stakeholders and engage relevant 1LOD and 2LOD functions to adequately resolve identified model issues. Escalate delays in issues remediations, and broker the implementation of effective mitigating controls to manage model risks.
• Review model and tool review reports and ensure high-quality content and conclusions, and oversee and train the validation team in writing such reports.
• Proactively identify and escalate thematic and idiosyncratic model and tool risk themes. Engage with 1LOD and 2LOD stakeholders to develop effective solutions to manage fraud financial crimes model risks including evolving the model risk management practices such as performance monitoring and change management
• Own and deliver on high-profile, time-sensitive deliverables with minimal supervision
• Establish and sustain productive relationships with model stakeholders in 1LOD, 2LOD and 3LOD
• Represent the Model Risk Management team in interactions with Internal Audit department and with regulatory agencies as required

Preferred Qualifications

• Masters degree in IT, Computer Science, Math, or Statistics. The following degrees or certifications, or experience are a plus:
• o Financial crimes prevention, Criminal Justice, Forensic Accounting
• o Certified Anti Money Laundering Specialist (CAMS) certification
• o Certified Transactions Monitoring Associate (CTMA) certification
• o Certified Fraud Examiner (CFE) certification
• o Experience building or using fraud financial crimes models, and assisting in investigations