Model Risk Management Specialist

Model Risk Management Specialist

The opportunity

• Model Validation: perform independent validation of Transaction Monitoring / Customer Risk Assessment / Screening models, AI models (built in Claude or ChatGPT), including but not limited to: -Reviewing model pre & post development documentation, data quality, accuracy, access and testing methodologies.

-Assessing model performance, accuracy, and stability.

-Evaluating model risk and identifying potential biases.

-Evaluating AI Models for AML/CFT Program

-AML/CFT Regulatory Compliance: ensure that Transaction Monitoring and Customer Risk Assessment models comply with relevant AML/CFT regulations, including but not limited to:

-EU AML/CFT Directives.

-US BSA/AML regulations.

-FATF recommendations.

-Risk Assessment: conduct risk assessments to identify potential AML/CFT risks associated with Transaction Monitoring and Customer Risk Assessment models, including but not limited to:

-Identifying higher-risk customer segments, products, and geographies.

-Assessing the effectiveness of controls and mitigants.

-Model Monitoring and Maintenance: develop and implement procedures for ongoing model monitoring and maintenance, including but not limited to:

-Annual reporting & certification

-Tracking model performance and identifying degradation.

-Conducting regular model reviews and updates.

-Collaboration and Communication: collaborate with various stakeholders, including but not limited to:

-Model Engineering and owners.

-AML/CFT subject matter experts.

-Business units and risk management teams.

-Documentation and Reporting: prepare and maintain high-quality documentation, including but not limited to:

-Model validation reports.

-Risk assessments.

-Regulatory compliance reports.

-Methodology Development: contribute to the development and maintenance of model validation methodologies, including but not limited to:

-Developing and refining model validation frameworks.

-Identifying best practices and industry standards.

What you bring

• Bachelor's degree in a quantitative field (e.g., mathematics, statistics, computer science, engineering).
• 3+ years of experience in model validation, risk management, or a related field, preferably in AML/CFT.
• Strong understanding of machine learning and statistical modeling techniques.
• Deep understanding of fiat and crypto payment flows
• Proficiency in programming languages (e.g., Python, R, SQL).
• Experience with data visualization tools (e.g., Tableau, Power BI).
• Strong understanding of financial markets, products, and services.
• Excellent written and verbal communication skills, with the ability to articulate complex technical concepts to non-technical stakeholders.

Nice to haves

• Professional certifications (e.g., FRM, CDA, CAP).
• Experience with AML/CFT transaction monitoring and Customer Risk Assessment systems
• Knowledge of cloud-based technologies.
• Experience with agile development methodologies.

Our commitment

Payward is powered by people from around the world and we celebrate the diverse talents, backgrounds, contributions, and unique perspectives that everyone brings to the table. We hire based on merit, seeking out people with the right abilities, knowledge, and skills for the job. We encourage you to apply for roles where you don't fully meet the listed requirements, especially if you're passionate or knowledgeable about crypto.

As an equal opportunity employer, we don't tolerate discrimination or harassment of any kind, whether based on race, ethnicity, age, gender identity, citizenship, religion, sexual orientation, disability, pregnancy, veteran status, or any other protected characteristic as outlined by federal, state, or local laws.