Bank Of America Sr Quantitative Fin Analyst - AML Models 

United States, New York, New York 

101858764

Responsibilities:

• Conduct detailed audits of various models, focusing on AML transaction monitoring, economic sanctions and fraud detection models. This involves examining the accuracy of model inputs, assumptions, methodologies, and outcomes.

• Assess the model risk management framework of the organization, and controls related to model development, validation, implementation, and ongoing monitoring.

• Collaborate with model users, developers, risk managers, and other relevant stakeholders to gain a comprehensive understanding of the models being audited and the associated risks.

• Communicate work through formal audit templates, reports, as well as through presentations to stakeholders. Work effectively as a team member with other quantitative analysts at the company

• Participate in the planning and execution of internal audit assignments on models, ensuring work is performed in accordance with the audit division’s methodology.

• Based on the results of audit testing, identify and draft audit observations for review and subsequent debriefing with the key partners.

• Conduct validation testing of the audit issue action plans completed by the business.

Required Skills and Experience:

• 5+ years experience in the development, validation, use, and/or auditing AML transaction monitoring, economic sanctions and fraud detection models

• 2+ years experience in AML, Financial Crimes and/or Fraud

• Excellent analytic, technical, communication and auditing skills

• Strong understanding of quantitative modeling concepts, financial instruments, and risk assessment methodologies

• Bachelor's Degree in Finance, Economics, Mathematics, Statistics or related quantitative field

:

• Advanced degrees in a qualitative field

• Certified Anti-Money Laundering Specialist (CAMS), Certified Internal Auditor (CIA), Certified Public Accountant (CPA), Certified Regulatory Compliance Manager (CRCM), or Certified Fraud Examiner (CFE)