Financial Crime Model Risk Management Consultant

onsite in NYC

• Summary:
  The Consultant in Financial Security Models will contribute in the daily management of model risk ("MRM ) and the ongoing maintenance, enhancement, and monitoring of key Financial Security models (i.e. customer database screening, transaction filtering, transaction monitoring, customer risk rating etc.).
  The role requires strong technical expertise in mathematical and statistical concepts, process and data transformation, and data management, combined with the ability to collaborate effectively across functions. The consultant will engage with functional and technical stakeholders from Financial Security and other stakeholders involved in model risk management.
  
  Key Responsibilities:
  Assist on maintaining and enhancing existing model risk management documentation and related procedures
  Assist on maintaining and enhancing ongoing monitoring and metrics procedures covering various Financial Security models
  Assist in the computation and verification of the existing MRM metrics and provide methodological and computational enhancements when required to address various reporting duties, in line with procedures and regulatory expectations
  Recommend and implement improvements leveraging statistical, AI/ML, or advanced analytics approaches where applicable
  Contribute to the development of standardized tools and methodologies for ongoing model monitoring
  Draft and enhance reporting and Committees' decks covering model risk management topics
  Provide technical and functional contribution during model development, validation, and review exercises
  Assist in the draft and formulation of responses to model related recommendations issued by the 2nd line, external auditors, or internal auditors
  Liaise with IT, data, and compliance teams to ensure smooth implementation of model related enhancements or remediation
  Provide methodological, technical, functional, and statistical insights as required to enhance the overall Financial Security model risk management framework
  Perform any other duties falling under the scope of model risk management obligations
  
  Essential Knowledge and Skills:
  College Degree
• 5-8 years of relevant experience in Model Risk Management, with a preferred focus on Financial Security Models, IT transformation, data management, and payments' system knowledge 
• Experience building Customer Risk Rating Model and Transaction Monitoring Models
• Model documentation