152 applicants

Company

Mercury · 5 days ago

Head of Model Risk Management

United States

Full-time

Remote

Director/Executive

$250K/yr - $327K/yr

10+ years exp

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Responsibilities

Lead the development, implementation, and management of the model risk management framework for AML and sanctions compliance.

Develop strategies to enhance model governance, including risk identification, model validation, and ongoing monitoring processes.

Provide thought leadership and guidance on emerging risks, regulatory developments, and advancements in AML/sanctions model techniques.

Represent Mercury’s Model Risk Management controls to our financial partners and internal stakeholders

Support the overall BSA/AML and Sanctions program through special projects as designated by leadership.

Oversee the end-to-end lifecycle of AML and sanctions models, including design, validation, implementation, and performance monitoring.

Support cross-functional teams, responsible for creating new models, to understand documentation requirements and testing requirements prior to model deployment.

Review and validate model assumptions, methodology, data integrity, and documentation, ensuring regulatory compliance.

Establish and enforce best practices for model validation, challenge processes, and periodic model recalibration.

Assess the risks associated with the use of models, identifying weaknesses and recommending improvements.

Develop controls and testing strategies to ensure model outputs align with AML and sanctions compliance objectives.

Monitor model performance and manage remediation of model deficiencies.

Serve as the primary point of contact with partners and internal audit teams regarding model risk management for AML and sanctions.

Collaborate with the compliance, legal, and technology teams to ensure models meet regulatory requirements.

Provide regular updates to senior leadership on the effectiveness and risks associated with the firm’s AML and sanctions models.

Ensure models comply with relevant regulations, including but not limited to OFAC, FATF, FinCEN, FFIEC and other global financial crime frameworks.

Prepare and present findings from model validations, audits, and regulatory reviews to leadership on a regular cadence.

Qualification

Find out how your skills align with this job's requirements. If anything seems off, you can easily click on the tags to select or unselect skills to reflect your actual expertise.

Model Risk ManagementAML ComplianceSanctions ComplianceQuantitative ModelingStatistical AnalysisMachine LearningAML Transaction MonitoringSanctions Screening ToolsCAMS CertificationCRCM CertificationRegulatory Technology SolutionsRisk Management FrameworksCollaboration Skills

Required

Bachelor’s degree or relevant industry experience in a quantitative field such as Finance, Statistics, Mathematics, Computer Science, or Economics.

10+ years of experience in model risk management, financial crime compliance, or a related field, with a focus on AML and sanctions, with at least 5+ years of experience in a direct people management role.

Strong knowledge of regulatory requirements and industry standards related to AML, sanctions, and financial crime compliance.

Proficiency in quantitative modeling techniques, statistical analysis, and machine learning methodologies.

Experience working with AML transaction monitoring systems and sanctions screening tools.

Excellent verbal and written communication and collaboration skills, with the ability to influence, motivate, and guide teams through complex situations and present complex information clearly to senior leadership and regulators.

Ability to make decisions quickly and with sometimes limited information, and comfort in an ambiguous, fast-paced, and rapidly changing business and regulatory environment.

Respect for and interest in financial rules and regulations, as well as an eagerness to innovate and drive the industry forward.

Preferred

A Master’s degree or PhD.

Certifications such as CAMS (Certified Anti-Money Laundering Specialist) or CRCM (Certified Regulatory Compliance Manager).

Experience with regulatory technology solutions for AML and sanctions screening.

Familiarity with risk management frameworks such as SR 11-7 and other model governance standards.

Ambitious sense of curiosity and willingness to explore how compliance and risk management impacts Mercury’s products and our customers outside of one’s comfort zone, such as new markets or financial products.