Quantitative Model Development Officer II- AML

Truist Bank•Charlotte, NC

About The Position

Lead model development efforts specific to finance and risk measurement estimation methodologies. Responsible for all or parts of the development life cycle of assigned quantitative models related to the company's management and mitigation of risk. Ensures that risks of assigned models are properly identified and managed. Partners across the firm including Risk Functions and lines of businesses to evaluate and improve assigned models continually. Areas of model development include financial crimes, inclusive of AML, Sanction Screening, and fraud detection. This position may also lead periodic model review and validation finding mitigation following deployment ESSENTIAL DUTIES AND RESPONSIBILITIES Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time. 1. Conduct/own most aspects of the model development life cycle. The model development life cycle includes data acquisition, assessing data integrity, model development, documentation, implementation assistance and assisting with closing assurance provider issue related to the model. 2. Develop, maintain and supervise monitoring, performance reporting, and change-management processes. Work with stakeholders to ensure models fulfill the business objectives set for them. 3. Ensure model development projects and processes comply with Truist requirements for model risk management and other policy requirements. 4. Assist with mentoring and training to accelerate model development in areas of techniques, process and business knowledge. 5. Advocate towards user understanding and acceptance of models and associate analytics, including written and verbal presentations to model users, stakeholders, managers and oversight groups. 6. Serve as core point of contact to address model questions within the firm as needed, including assurance providers (e.g., Corporate Model Risk Management, Corporate Audit, and regulators). Support regulatory examinations and address respective requests. 7. Assist with identifying, recruiting, and maintaining, quantitative talent.

Requirements

Ten years of relevant experience in best practices, or equivalent financial industry experience developing, documenting, implementing, or validating quantitative models with concentration in a particular financial domain
Seven+ years of model development experience using SAS or other applicable model development software/programming tools
Strong English communication skills, both written and verbal
Ability to distill complex mathematical concepts into actionable results
Strong work ethic; promote and conduct continued development of personal and associate knowledge base and technical skills
Organization skills: Ability to communicate and manage competing organizational priorities effectively
Problem solving skills: Strong problem solving skills
Education: Advanced degree or equivalent experience in Statistics, Econometrics, Operations Research, Actuarial Science, Applied Mathematics, or other applied quantitative science, or equivalent education and related training

Nice To Haves

Master's degree/PhD
Demonstrate expertise in financial crime modeling, including Anti-Money Laundering (AML), Sanction Screening, and Fraud detection methodologies. Experience with regulatory requirements and advanced analytics for these domains is highly preferred
Experience in risk management
Knowledge/experience of best practices and current regulatory environment and associated expectations within the financial services industry

Responsibilities

Conduct/own most aspects of the model development life cycle. The model development life cycle includes data acquisition, assessing data integrity, model development, documentation, implementation assistance and assisting with closing assurance provider issue related to the model.
Develop, maintain and supervise monitoring, performance reporting, and change-management processes. Work with stakeholders to ensure models fulfill the business objectives set for them.
Ensure model development projects and processes comply with Truist requirements for model risk management and other policy requirements.
Assist with mentoring and training to accelerate model development in areas of techniques, process and business knowledge.
Advocate towards user understanding and acceptance of models and associate analytics, including written and verbal presentations to model users, stakeholders, managers and oversight groups.
Serve as core point of contact to address model questions within the firm as needed, including assurance providers (e.g., Corporate Model Risk Management, Corporate Audit, and regulators). Support regulatory examinations and address respective requests.
Assist with identifying, recruiting, and maintaining, quantitative talent.

Benefits

All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position.
Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates.
Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays.
Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan.
As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.

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