Sr. Model Validator - BSA/AML & Fraud Models

First Citizens Bank

6d • $125,000 - $170,000 • Remote

About The Position

This is a remote role that may be hired in several markets across the United States.
The Senior Model Risk Management Analyst position is within First Citizens Bank’s Model Risk Management (MRM) team, with a primary focus on conducting validations of the Bank's Financial Crimes and Compliance models, including (but not limited to) BSA/AML Transaction Monitoring, Customer Risk Scoring, and OFAC Screening systems. To provide an effective challenge, subject matter expertise is essential. A successful candidate must possess strong knowledge of regulatory requirements and guidance.

Requirements

• Bachelor's Degree and 6 years of experience in OR High School Diploma or GED and 10 years of experience in model risk management.

Nice To Haves

• Advanced degree (master’s or Ph.D.) in a quantitative field (e.g., Data Science, Economics, Finance, Applied Statistics, or a related quantitative discipline).
• 10+ years of experience in model development and implementation or model validation within the financial industry.
• 6+ years of fraud analytics experience with software (such as Python, SAS, R).
• Experience developing and/or validating Financial Crimes and Compliance models, including (but not limited to) BSA/AML Transaction Monitoring, Customer Risk Scoring, and OFAC/Sanctions Screening systems.
• Well-versed with various performance metrics and the use cases for each.
• Experience maintaining or validating vendor-developed models.
• Strong written communication skills as evidenced by clear and comprehensive technical reports.
• Strong analytical skills and ability to find patterns in transactional data.
• Advanced programming skills in Python, SQL, SAS, or R.
• Experience using SQL to pull data from enterprise warehouse databases.
• Experience developing and/or validating vendor models and rule-based models.
• Exceptional understanding of the banking industry and business lines.
• Experience communicating validation standards and technical concepts to key stakeholders.
• Thorough understanding of federal guidance related to model risk management

Responsibilities

• Conduct independent model validations to ensure BSA/AML models align with business objectives and design objectives. Verify that models are performing as expected. Identify potential limitations, which includes assessing potential impact.
• Write detailed model validation reports that present the results from executing a thoughtful and thorough model validation plan.
• Communicate model validation findings to model owners, senior management, and regulatory agencies as required.
• Perform annual reviews and review ongoing monitoring reports to ensure that the models are performing as intended.
• Interact with all key stakeholders including model users, model owners, vendors, Model Risk Governance, and other validators throughout the model lifecycle including model development, validation and ongoing performance evaluation.
• Suggest enhancements to the existing BSA/AML validation process including Validation templates, ongoing monitoring of models, automation of repetitive tasks.
• You may be asked to help guide junior team members on model validations.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level