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AML Quantitative Analyst - Fairfield, NJ in Fairfield, NJ at Vaco

Date Posted: 5/2/2018

Job Snapshot

  • Employee Type:
    Full-Time
  • Location:
    Fairfield, NJ
  • Job Type:
    Accounting
  • Experience:
    Not Specified
  • Date Posted:
    5/2/2018
  • Job ID:
    022720180406

Job Description

We are currently seeking an AML Quantitative Analyst for an immediate contract to hire position. Candidate will be responsible for the tuning and optimization of AML monitoring models in the AML/BSA Compliance Department.

Responsibilities include but are not limited to:

  • Monitor and measure the success of AML transaction monitoring and OFAC/sanctions screening operations, including, but not limited to, customer risk scoring, AML transaction monitoring and alert generation, tuning, and segmentation.
  • Evaluate existing models and scenarios and conduct tuning and optimization. Make recommendations to improve AML monitoring through the development of new risk models, statistical analysis of model thresholds, negative testing, and other sensitivity and productivity analyses.
  • Rationalize and document business rules, thresholds, parameters and scoring methodology of the system.
  • Conceptualize and develop new rules/models/scenarios, under senior managers' guidance, to address emerging trends and red flags.
  • Execute appropriate statistical or mathematical tests to recommend threshold implementation decisions.
  • Ensure sound risk coverage, adequate quantitative model assessment and validation, and data quality completeness and integrity.
  • Support the AML Group's periodic risk assessments through the analysis of data elements related to potential indicators of customer, product, or geographic risk, evaluating and enhancing the AML Group's risk rating methodologies, and identifying new quantitative factors that can be incorporated into the risk assessment process.
  • Provide periodic reports from various monitoring models and processes to senior management.
  • Support model validation functions to ensure models are performing as intended.

Required Skills:

  • Must have the ability to handle large data sets.
  • Have experience using statistical packages for research/modeling.
  • Must be proficient in SQL.
  • Proficiency with Visual Basic Script within Microsoft Excel.
  • Possess the ability to explain technical results in plain language to laymen in clear and straightforward fashion.
  • Have experience defending a statistical approach and set of assumptions from regulator and audit inquiries.
  • Have excellent written and verbal communications skills, attention to detail and strong time management skills.
  • Possess strong analytical thinking and critical reasoning skills.
  • Have excellent interpersonal skills and ability to work effectively with colleagues across regions and Business Units.
  • Have the ability to effectively handle a fast-paced environment and successfully meet established deadline requirements.
  • Be self-motivated and must have the ability to work independently.

Required Experience:

  • Bachelor's Degree and a minimum of three years' experience in complex AML data analysis and statistical tools.
  • Master's Degree in a quantitative discipline is preferred.