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AML Model Validation Manager
Zions Bancorporation
Salt Lake City, UT, United States
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Description
Zions Bancorporation is one of the nation’s premier financial services companies, consisting of a collection of great banks with combined total assets exceeding $65 billion. Zions’ subsidiary ZB, N.A. operates banking divisions under local management teams and community identities in 11 states.
We are currently seeking an AML Model Validation Manager to join our BSA/AML team in San Diego, California or Salt Lake City, Utah. The successful candidate will have experience with building, assessing, validating, and defending risk models in a regulated financial institution. This individual will be responsible for overseeing the construction and maintenance of the Company’s AML models and assist in the creation of new scenarios and quantitative processes related to detecting AML and Fraud activities. Consideration will also be given to strong candidates in Phoenix, AZ, Las Vegas, NV, Houston, TX, or Denver, CO.
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The ideal candidate will have the skills and experience necessary to:
• Implement and manage the ongoing validation efforts for all applicable AML models subject to the AML Model Validation Governance Program.
• Ensure validation efforts for AML models meet or exceed expectations as defined by the Office of the Comptroller of the Currency's (OCC) Supervisory Guidance on Model Risk Management.
• Determine quantitative approaches to be implemented to validate AML models.
• Perform advanced quantitative assessments of all aspects of models including theory, design, implementation, assumption, data integrity and reliability.
• Perform tests to quantitatively assess model performance and recommend changes; participate in gap-closing projects.
• Communicate findings from validation work performed by Model Risk Management to the team and support oversight for closure of validation findings.
• Produce management reporting and analysis.
• Engage in inferential and descriptive statistics for the purposes of providing narratives and participation in the analysis and interpretation of the data with technical and non-technical individuals.
• Keep pace with the latest developments in regulatory environment, Risk Management, AML Compliance industries, and academia to provide expert guidance.
• Create documentation, work papers and reports of validation results.
• Write and develop Standard Operating Procedures for validation processes.
• Oversee the maintenance and enhancement of tools and techniques used to support model testing and validation.
• Support regulatory examinations, reviews and internal audits of the modeling process and component models.
• Coordinate responses and provide data to Internal Audit, Corporate Model Risk Management, and regulatory exam requests. Assist in updating the company’s annual AML risk assessment.
• Establish and maintain strong relationships with stakeholders in AML Compliance.
• Work with team members and subject matter experts on identifying, designing, building and performing analytics to provide risk control, identify true risk and insights for the AML program.
• Liaise with key constituents to uncover and highlight model risk.
Qualifications
• Requires a Masters degree in Statistics, Economics, or Data Science, or a Bachelors degree in Statistics, Economics, Finance or other quantitative discipline with 4+ years of data validation and modeling, statistics, data mining, software implementation, enhanced reporting analytics, including 2+ years experience working in the Financial Services industry or other directly related experience.
• A combination of education and experience may meet qualifications.
• Advanced knowledge of validation of model risk and complete understanding of model validation principles as defined the regulatory agencies, to include the OCC’s Supervisory Guidance of Model Risk Management or the Federal Reserve’s SR 11-7 Guidance on Model Risk Management.
• Strong analytical, problem resolution, project and time management skills.
• Ability to collaboratively work with other team members, model owner/sponsor counterparts.
• Effective presentation and communication skills; ability to convey complex concepts and outcomes to non-subject matter experts.
• Proficient programming skills (i.e. Stata, SAS, R, Matlab, VBA, etc.)
• Understanding of Transaction Monitoring systems (i.e. Norkom, Mantas, NetReveal, etc) is a plus.
• Ability to develop financial models.
• Experience with SQL query searching.
• Ability to work in a heavily deadline oriented environment.