Sr. Associate - AML Model Development

Santander Bank • Miami, FL

423d • $108,750 - $195,000

About The Position

The Sr. Associate, AML Model Development is responsible for ensuring compliance with company policies and procedures related to risk management and model development. This role involves analytical research to support the Compliance Department, focusing on Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) compliance. The position requires collaboration with various stakeholders to translate business requirements into technical specifications for model development, monitoring, and optimization. Additionally, the role includes developing complex data inquiries and reporting solutions to enhance compliance analytics and overall program effectiveness.

Requirements

• Bachelor's Degree in Mathematics, Physics, Statistics, or equivalent quantitative field; Master's degree in Computer Information Systems, Business Analytics, or related field preferred.
• 9+ years of experience in AML/OFAC exposure and model development.
• Strong experience in Python, SQL, and statistical methods for model development in cloud environments.
• Experience in handling large datasets and performing data analysis to identify patterns and trends.
• Knowledge of the banking regulatory environment and its impact on risk management practices.

Nice To Haves

• Experience in performing time series analysis and developing ongoing performance monitoring reports (OPM).
• Successful track record in leading complex projects with awareness of Operational Risk.

Responsibilities

• Ensure adherence to company policies and procedures related to risk management and model development.
• Monitor and manage risk/exposure and compliance with company policies.
• Identify, manage, and report on the company's risk areas.
• Evaluate the adequacy and effectiveness of data and document retention systems.
• Perform analytical research in support of the Compliance Department, focusing on AML/BSA compliance.
• Develop complex inquiries using SQL, Python, and ETL to analyze underlying data and highlight trends.
• Provide information in support of independent audit activities.
• Collaborate with Model Owners and stakeholders to translate business requirements into technical requirements for model development.
• Assess model health using statistical methods and drive timely remediation efforts.
• Execute on the Book of Work for Compliance Risk Models and support project implementation.

Benefits

• Competitive salary range of $108,750 - $195,000/year.
• Diversity and inclusion initiatives within the workplace.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree