Financial Crime Model Validation Manager

Crowe•Boston, MA

3d•$102,800 - $210,200

About The Position

Crowe is seeking a Financial Crime Model Validation and Testing Manager to lead and execute model validation testing processes on systems supporting Financial Crime programs. This includes transaction monitoring, customer risk assessment/rating, fraud detection, and watchlist screening/interdiction systems. The role involves designing and updating testing strategies, such as risk and control matrices, for independent testing of these systems. Testing may encompass control conceptual design, operating effectiveness, and issue validation. The manager will execute analytical projects, collaborating with senior stakeholders and clients to deliver value to financial institutions. Key testing areas include model governance, design and development, data inputs (quality, mapping, ETL, balancing, reconciliation, lineage, throughput, backtesting), model logic, user access controls, KPIs, alert review processes, and model performance evaluation (tuning, sanctions sensitivity testing). The role also involves documenting testing in standardized work papers and model validation reports, and managing engagements by providing oversight to the testing team, maintaining budgets, and reporting progress to clients and engagement executives.

Requirements

Bachelor's and/or advanced degree with a concentration in Data Management or Analytics; Finance; Computer Science, Management Information Systems, or Statistics/Mathematics.
4+ years of experience within the Financial Crime industry.
4+ years of model validation, AML system implementation, data lineage, or quality testing experience.
Basic knowledge of the software development lifecycle.
Demonstrated experience with data analysis, business analysis, and data validation activities with financial services institutions.
Demonstrated experience with performing independent testing on models, including an understanding of risks/controls and experience documenting testing within workpapers.
Experience executing model validations of financial crime systems, including but not limited to: Verafin, Actimize, BAM/BAM+, YellowHammer, FCRM, FinanSeer, FiServ, Lexis Nexis Bridger, FircoSoft, Quantexa, Palantir, Accuity, RDC, and others.
Demonstrated experience and knowledge of banking and compliance systems.
Demonstrated experience working in a results-driven environment within a team environment.
Strong organizational, interpersonal, and presentation skills.
Ability to actively engage with stakeholders to collect information, and issues, and make recommendations for business and process improvements.
Highly effective verbal and written communication skills and the ability to interact with all levels of management.
Strong teamwork, communication, and customer service skills.
Strong analytical, attention to detail, organizational, and core project management skills.
Possesses knowledge of the challenges of data cleansing and integration.
Ability to work with IT and business personnel.
Travel as required by client needs.

Nice To Haves

Prior professional services/consulting firm experience
Experience with data extraction and analysis tools such as SQL/Python.
Experience with visualizing and communicating analytical results using technologies such as Tableau, Power BI, Cognos, QlikView, Spotfire, and D3

Responsibilities

Lead and execute model validation testing processes on systems supporting Financial Crime programs.
Design and/or update testing strategies, including creation or enhancement of risk and control matrices.
Perform independent testing of systems, which may include control conceptual design testing, control operating effectiveness testing, and issue validation testing.
Execute analytical projects working closely with senior stakeholders and clients.
Review model governance and processes surrounding their effectiveness.
Critically challenge model design and development.
Test data inputs, including data quality issues, data mapping, ETL processes, balancing and reconciliation controls, data lineage, throughput, and backtesting.
Test that the model logic is working as intended.
Assess model user access controls, key performance indicators (KPIs), and alert review processes.
Evaluate model performance, including tuning and sanctions sensitivity testing.
Document testing using standardized work papers and model validation reports and other client deliverables.
Provide oversight and guidance to the testing team for efficient engagement delivery.
Maintain engagement budget.
Provide timely reporting of engagement progress to the client and engagement executive.