The incumbent will be responsible for assisting the development, tuning and calibration of transaction monitoring rules/scenarios used for detecting Money Laundering activity, and/or to ensure that all AML/Screening tools are in compliance with the bank’s framework for compliance including policy, standards, methodology, and procedures.
Include but are not limited to:
Transaction Monitoring System
– Analyze, develop, and test new scenarios/rules for AML monitoring systems.
– Conduct scenario threshold analysis. Work with other members within the team to ensure the scenarios are reviewed on a regular basis based on the level of risk and that the systems are appropriately reviewed, validate and optimized.
– Participate in AML optimization across multiple Line of Businesses (including correspondent banking, retail, and trade finance) and multiple Transaction Monitoring Systems.
– Ensure sound risk coverage, adequate quantitative model assessment and validation, and data quality completeness and integrity.
– Support all review and audit functions. Create/update a model inventory list and ensure all models are reviewed.
– Work in conjunction with other team members to ensure that the recommended threshold and other optimization changes are tested appropriately in the User Acceptance Test environment prior to production implementation.
– Analyze, test, and validate screening systems (Business Intelligence) to identify issues, to correct the identified issues, and to mitigate risk associated with the identified issues. Work with other team members to maintain the open alert aging, internal watch list, etc.
– Bachelor’s Degree is required, Master’s degree is preferred.
– Minimum 1 year of work experience in Financial Institution or Compliance related field.
– Knowledge in AML and skills in Mantas, Statistical tools, such as R, Spotfire, and SAS is preferred.