Senior Associate of AML, Santander

OFAC Model Developer

$108.8-195k

SQL

Python

Oracle

Senior and Expert level

Boston

New York

Retail and commercial bank

Job no longer available

Retail and commercial bank

1001+ employees

B2CB2BBanking

Job no longer available

$108.8-195k

SQL

Python

Oracle

Senior and Expert level

Boston

New York

1001+ employees

B2CB2BBanking

Company mission

To help people and businesses prosper.

Job

Company

Role

Who you are

Education: Bachelor's Degree or equivalent work experience
6+ Years of Risk Management, Risk Modeling and AML
3+ Years of Name Screening and Client Risk Rating Compliance, Text Analytics, or Library Sciences
Demonstrated practical and theoretical knowledge of financial data, their structure and behavior in various environments
Demonstrated knowledge of data querying languages and software
Experience in model development, tuning, and optimization of Anti Financial Crime / Anti Money Laundering (AFC/AML) models especially in OFAC transaction and client screening models
Strong quantitative capabilities and analytical skills, including an investigative mindset
Strong problem solving and critical thinking skills
Strong verbal and written communication skills
Strong experience in Python, SAS, SQL, statistical methods and model development in cloud environments. Experience in scheduling and automation tools is a big plus
Strong organizational and time management skills
Ability to analyze risk and provide recommendations and/or resolutions to minimize risk
Ability to summarize, document, and communicate information in a clear and concise manner
Ability to organize and prioritize multiple tasks to meet deadlines
Ability to work independently as well as collaboratively within a team environment
Ability to interpret, analyze and apply data/information
Ability to stay abreast of industry best practices, procedures, and techniques
Ability to change direction as project demand dictates
Ability to effectively and clearly communicate instructions to others, summarize and articulate issues, and document findings in a clear and concise manner
Experience with Python, MS 360, SAS, Oracle, or similar preferred

What the job involves

The Sr. Associate, AML - OFAC Model Developer supports the AML and Model Risk Management teams to establish and leverage appropriate systems and processes to develop, validate, and maintain optimal efficiency and effectiveness of OFAC and Customer Risk Rating models
Participates in the design and evolution of the Company's existing suite of AML OFAC and Customer Risk Rating models, ensuring they meet regulatory and internal requirements
Collaborates on model risk assessments and participates in model validation exercises performed by Model Risk Management Group (MRMG) to evaluate model accuracy, performance, and compliance with internal and regulatory standards
Develop and manage testing and tuning framework, including processes to identify, measure, report, and remediate existing and emerging OFAC and Risk Rating risks
Provide effective governance and/or oversight of OFAC and Customer Risk Rating models, upstream and downstream sources, and IT infrastructure
Serve as OFAC and Risk Rating liaison to internal and external partners to represent AML Risk Compliance on projects, changes, new business initiatives, and other processes with AML impact
Work closely with business stakeholders to provide detailed model documentation, including validation reports, assumptions, limitations, and compliance metrics. Assess model health within a given framework using statistical methods, evaluation of assumptions, and drive timely remediation efforts
Develop complex inquiries with SQL, SAS, Python and ETL to perform analyses of the underlying data in our systems and highlight trends, issues, and findings. Develop reporting solutions, including designing stored procedures, view queries, and tables
Researches and maintains regulatory requirements and publications relevant to model risk
Assist in the development and maintenance of model risk and model policies, guidelines, validation and development procedures, controls, tools and templates
Execute on Book of Work for Compliance Risk Models, support project implementation impacting Compliance and its areas of oversight and collaborate with SHUSA and its subsidiaries to design various performance metrics
Ensure that all the company’s activities adhere to the necessary rules and regulations, and that the company complies with legal/regulatory statutes and jurisdictions and provide requisite information in support of independent audit activities
Perform analytical research in support of the Compliance Department, with a strong focus on AML/BSA, including the design, development, and implementation of information-based business solutions
Supports key Subject Matter Expert in the implementation of new technology initiatives to enhance the Compliance data repositories, reporting, analytics, and overall program with a strong focus on AML/BSA compliance
Provides procedural guidance and support to junior analysts in the various functions of the department, and in the methods of tools of analysis
Evaluates the strengths and weaknesses of existing controls and provides recommendations on opportunities for improvement
Assists senior level staff and management as requested
Performs other duties and responsibilities as assigned

Our take

Santander serves 14 million UK customers as a retail and commercial bank. Despite a mixed history, including issues with call centre service, mis-selling PPI, and anti-money laundering control failures between 2012 and 2017, Santander continues to thrive by focusing on innovation, digitalisation, and sustainable, responsible growth.

Recently, Santander has enhanced its digital and mobile services to meet the needs of modern banking customers. This includes the My Home Manager app, which provides mortgage customers with a centralised platform for their information, and increased fraud alerts to protect less digitally literate customers as they transition online. These efforts aim to connect physical and digital channels for a seamless customer experience, positioning Santander to better compete against digital banks like Monzo and Starling.

In addition to these digital advancements, Santander has joined forces with Iberpay in Spain to become inaugural participants in the European Payments Council’s One-Leg Out Cross-border Transactions Instant Scheme (OCT Inst). This initiative is set to introduce global instant transfers, further emphasising Santander's commitment to innovation and enhancing its service offerings in the digital banking landscape.