Associate, Compliance - AML Modeling

Company: Banco Santander SA
Location: Boston
Posted on: November 1, 2024

Job Description:

Associate, Compliance - AML Modeling
Associate, Compliance - AML Modeling
Country: United States of America
The Associate, AML Modeling monitors activities to minimize the company's exposure to risk. Activities may include quantitative analysis, risk identification and remediation. Represents or supports the reputation of the company to minimize compliance and regulatory risk by resolving issues and ensuring adherence to company and legal standards. Responsible for ensuring that all of the company's activities adhere to the necessary rules and regulations, and that the company complies with legal/regulatory statutes and jurisdictions.
The ideal candidate will play a key role in managing and mitigating model risk related to anti-money laundering (AML) models (i.e. Sanctions Screening, Transaction Monitoring, Customer Risk Rating). You will work closely with the model development, validation, and governance teams to ensure models adhere to regulatory standards and address Model Risk Management Group (MRMG) findings. Supports ongoing compliance with applicable regulations, driving the execution of action plans to mitigate risks and improve model performance. Monitors and manages risk/exposure and by adhering to company's policies. Identifies, manages and reports on the company's risk areas. Evaluates the adequacy and effectiveness of data, model, and monitors systems.
Responsibilities:

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• Collaborate with the AML and Model Risk Management teams to develop, validate, and maintain AML models, ensuring they meet regulatory and internal requirements. Conduct model risk assessments and participate in model validation exercises performed by Model Risk Management Group (MRMG) to evaluate model accuracy, performance, and compliance with internal and regulatory standards.
  
• Participate in the design and evolution of the Company's existing suite of AML models, ensuring they meet regulatory and internal requirements.
  
• Work closely with business stakeholders to provide detailed model documentation, including validation reports, assumptions, limitations, and compliance metrics.
  
• Develop complex inquiries with SQL, SAS, Python and ETL to perform analyses of the underlying data in our systems and highlight trends, issues, and findings.
  
• Research and maintain regulatory requirements and publications relevant to model risk.
  
• Assist in the development and maintenance of model risk and model policies, guidelines, validation and development procedures, controls, tools and templates.
  
• Execute on Book of Work for Compliance Risk Models, support project implementation impacting Compliance and its areas of oversight.
  
• Ensure compliance with legal/regulatory statutes and jurisdictions and provide requisite information in support of independent audit activities.
  
• Perform analytical research in support of the Compliance Department, with a strong focus on AML/BSA.
  
• Support key Subject Matter Experts in the implementation of new technology initiatives to enhance the Compliance data repositories, reporting, analytics, and overall program.
  
• Provide procedural guidance and support to junior analysts in the various functions of the department.
  
• Evaluate the strengths and weaknesses of existing controls and provide recommendations on opportunities for improvement.
  
• Assist senior level staff and management.
  
• Perform other duties and responsibilities as assigned.
  
  Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
  
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  • Education: Bachelor's Degree or equivalent work experience
    
  • Work Experience: 5+ years Analytics and Modeling; 2+ years Risk Management, Risk Modeling, AML (OFAC Sanctions Screening, Transaction Monitoring)
    
  • Licenses / Certification: Preferred: Python, MS 360, SAS, Oracle, or Similar
    
  • Skills and Abilities: Demonstrated practical and theoretical knowledge of financial data, their structure and behavior in various environments; Demonstrated knowledge of data querying languages and software; Strong quantitative capabilities and analytical skills; Strong problem solving and critical thinking skills; Strong verbal and written communication skills; Experience in handling large datasets and performing data analysis; Ability to analyze risk and provide recommendations; Ability to work independently as well as collaboratively within a team environment.
    
    Diversity & EEO Statements: At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We actively encourage everyone to apply. Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.
    The base pay range for this position is posted below and represents the annualized salary range. For hourly positions (non-exempt), the annual range is based on a 40-hour work week. The exact compensation may vary based on skills, experience, training, licensure and certifications and location.
    Base Pay Range
    Minimum: $90,000.00 USD
    Maximum: $165,000.00 USD
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Keywords: Banco Santander SA, New Bedford , Associate, Compliance - AML Modeling, Other , Boston, Massachusetts