Verafin Model Analyst/Administrator

EagleBank•Bethesda, MD

52d•Hybrid

About The Position

We are a values driven organization putting Relationships FIRST. EagleBank (NASDAQ – EGBN) is focused on being Flexible, Involved, Responsive, Strong, and Trusted. By prioritizing meaningful connections with our customers, employees, and shareholders, we relentlessly deliver the most compelling, valuable service to our customers.EagleBank is committed to inclusion, equity, and respect. We celebrate diversity and intentionally seek out opportunities to learn from one another’s experience. We believe employees are essential to the building of relationships and we prioritize investing in employee growth and wellbeing. Employee involvement is fostered through resource groups, mentorship programs, community service, and scholarship opportunities for continued education. With features including maternity and parental leaves, wellness discounts, healthcare premium sharing, employer funding in your HSA account, and 100% 401(k) matching up to 4%, we pride ourselves in the ways we support our internal relationships. The minimum and maximum projected annualized salary for this position is: $80,825.00 to $129,322.00. Additional compensation may be possible based on experience and skills. We understand the need to be creative and flexible when it comes to telecommuting and other alternative work arrangements. Ideally, this position will work in the Bethesda, MD office four days per week. The Verafin AML Model Analyst is responsible for managing, optimizing, and maintaining EagleBank's (the "Bank") Verafin transaction monitoring system to detect and prevent money laundering, fraud, and other suspicious activities. This role requires a proficient understanding of AML regulations, scenario tuning, alert management, and collaboration with key stakeholders to ensure effective detection while minimizing false positives.

Requirements

Bachelor’s Degree in Arts/Sciences (BA/BS) degree in Finance, Business, Data Analytics, or related field
5 years experience in BSA/AML compliance in a banking environment
experience with Verafin AML transaction monitoring platform
Attention to detail and commitment to accuracy
Critical thinking and problem-solving abilities
Ability to balance regulatory compliance with operational efficiency
Collaborative approach to working with cross-functional teams
Adaptability to evolving regulatory landscape and technology changes
Analytical skills with ability to interpret data and identify patterns
Proficiency in Microsoft Excel and data analysis tools
Excellent written and verbal communication skills
Understanding of model risk management principles

Nice To Haves

Experience with scenario tuning and model optimization in financial crimes detection systems
Experience with SQL or other database query languages
CAMS (Certified Anti-Money Laundering Specialist)

Responsibilities

Configure, maintain, and optimize Verafin AML detection scenarios and models to identify suspicious activity patterns while minimizing false positive alerts
Perform regular scenario tuning and threshold adjustments based on risk assessments, regulatory changes, and operational efficiency metrics
Conduct quality assurance testing of Verafin system updates, new scenarios, and model changes prior to production deployment
Monitor alert volumes and investigate trends to identify opportunities for model optimization and process improvements
Collaborate with BSA/AML investigators to understand alert quality and refine detection parameters
Generate and analyze reports for alert volumes, disposition rates, case outcomes, system performance metrics amongst others
Ensure Verafin system configurations align with BSA/AML regulatory requirements including the Bank Secrecy Act, USA PATRIOT Act, and FinCEN guidance
Participate in model validation activities and maintain documentation of scenario logic, tuning decisions, and system changes
Serve as subject matter expert on Verafin platform capabilities and provide training to BSA/AML team members
Coordinate with IT and vendors on system upgrades, data integration issues, and technical troubleshooting
Support regulatory examinations by providing documentation and explanations of monitoring methodologies
Works closely with project teams to develop test requirements, test solutions and test execution meet quality objectives, project scope, and delivery dates. Gathers and writes-up business and system requirements, prepares test scripts, quality controls all changes, develops and codes documents and supports the division for trouble shooting hardware and software. Participates and contributes to ongoing meetings with various departments and third party vendors to discuss progress and issues to be resolved
Runs queries against application databases and/or the Bank's data warehouse and assists with the preparation of periodic or ad hoc reports for the BSA department (Monthly dashboard, ERM reporting, etc.)
Notifies the Director of AML, BSA, OFAC Compliance regarding problems with current business applications or systems, enhancements, or new functionality
Performs other duties as assigned
Complies with all policies and standards