Who we are looking for We are seeking a Sanctions Analyst, AVP - Sanctions Model Design & Model Risk Management to join State Street's Financial Crimes Compliance (FCC) organization, with a dedicated focus on sanctions screening models, quantitative model analysis, and Model Risk Management (MRM). This role sits at the intersection of compliance, technology, and quantitative risk, and is critical to ensuring our sanctions screening models are robust, well-governed, and fit for evolving regulatory and business requirements.
The ideal candidate brings hands-on experience with enterprise sanctions screening platforms, strong quantitative and data analysis skills, and the ability to lead technical model reviews, upgrades, and MRM lifecycle activities. You will partner closely with FCC Technology, IT, Model Risk Governance, and business stakeholders to ensure ongoing model performance, periodic upgrades, and successful execution of annual and ad hoc model validations.
Work Arrangement: This role follows a hybrid model, with regular in-office presence as a core expectation. While remote flexibility is available, candidates should anticipate working primarily from an office environment.
Why this role is important to us Sanctions screening is a core control protecting State Street, our clients, and the global financial system from regulatory, legal, and reputational risk. This risk landscape continues to evolve as global regulators increase expectations while State Street expands its client base, products, and new business lines. As a result, sanctions volumes and alert generation have grown significantly, increasing both operational complexity and model risk.
In parallel, sanctions screening models themselves are becoming more sophisticated and data-driven. To operate effectively at scale, the firm must continually evolve its screening approaches and adopt cutting-edge techniques for generating, prioritizing, and reviewing alerts. Strong quantitative ownership and disciplined model risk management are therefore essential to ensuring these models remain effective, well-governed, and fit for purpose.
What you will be responsible for Ongoing Model Ownership & Operations
- Act as a key point of contact between FCC and IT for day-to-day ownership of sanctions screening models, ensuring applications run as designed and risks are appropriately managed.
- Monitor model performance, thresholds, and tuning parameters; identify emerging issues and partner with technology teams on remediation.
- Support data quality, list management, and model configuration activities related to sanctions screening.
- Oversee ongoing monitoring of model outputs, including alert volumes, risk distribution, and operational impacts driven by business growth and regulatory changes.
Model Design, Upgrade & Validation (2-4 times per year)
- Lead and/or support sanctions model upgrades, enhancements, and periodic recalibrations across enterprise screening platforms.
- Perform technical design and review of sanctions models, including rules-based logic, scoring methodologies, and supporting data pipelines.
- Evaluate and enhance the use of advanced modeling techniques, including machine learning and natural language processing (NLP), to improve alert generation and prioritization.
- Conduct tuning analysis and validation testing, including false positive/false negative analysis, risk segmentation, and quantitative performance assessment.
- Execute Model Risk Management (MRM) calendar activities, including annual reviews, change validations, and regulatory-triggered assessments.
Quantitative Analysis, AI/ML & Advanced Analytics
- Apply advanced data analysis techniques to assess model effectiveness, risk coverage, and operational impacts in an environment of increasing alert volumes.
- Support and evaluate AI/ML-driven screening capabilities, including concepts such as:
- Named Entity Recognition (NER) to improve identification of sanctioned parties across unstructured and structured data.
- Focality and severity scoring to better distinguish high-risk alerts and prioritize investigative effort.
- Identity-based risk assessment, incorporating multiple attributes to improve match confidence and reduce false positives.
- Develop repeatable analytical tools and scripts (preferably in Python and SQL) to support tuning, monitoring, validation, and model performance analysis.
- Support quantitative risk assessments related to sanctions models, including sensitivity analysis, outcome testing, and comparative analysis of traditional and advanced techniques.
Entity Resolution & Data Enrichment
- Assess and support entity resolution techniques that leverage additional internal and external data sources to improve match accuracy and risk differentiation.
- Partner with technology and data teams to evaluate the use of enriched reference data, alternative identifiers, and relationship data to enhance identity resolution across sanctions alerts.
- Analyze the impact of entity resolution approaches on alert quality, investigative efficiency, and overall risk coverage.
Governance, Documentation & Stakeholder Engagement
- Draft, update, and maintain high-quality MRM documentation, including model descriptions, validation artifacts, tuning memos, design specifications, and change logs.
- Lead MRM engagements to completion, coordinating inputs across FCC, IT, and Model Risk Governance teams.
- Prepare materials and present model changes, results, and risks in established governance forums (e.g., model committees, compliance forums).
- Communicate clearly with senior stakeholders, providing credible challenge and well-supported recommendations on model design, performance, and risk.
What we value These skills will help you succeed in this role
- Strong expertise in AI/ML model development, validation, and governance.
- Advanced programming skills in Python and experience with data science frameworks.
- Deep understanding of sanctions screening, watchlist management, and financial crime compliance.
- Ability to manage complex, multi-stakeholder projects in Agile environments.
- Excellent problem-solving and critical thinking skills with a focus on scalability and automation.
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Education & Preferred Qualifications - Bachelor's or Master's degree in Data Science, Computer Science, Statistics, Engineering, Finance, or a related quantitative or technical discipline.
- 6+ years of experience in financial crime compliance, sanctions screening, data science, quantitative analytics, or model risk management within a regulated financial services environment.
- Demonstrated experience designing, reviewing, validating, or operating sanctions screening applications & models, including responsibility for model performance, tuning, and ongoing monitoring.
- Strong quantitative and analytical skill set with deep, hands-on proficiency in at least one advanced analytics or modeling discipline, including machine learning, natural language processing (NLP), or entity resolution techniques, or alternatively statistical analysis, model validation, and quantitative risk assessment.
- Proficiency in Python and SQL for data analysis, model evaluation, and automation of repeatable analytical processes, with demonstrated proficiency in at least one analytical or data science platform or package (e.g., Databricks, pandas, NumPy, scikit-learn, or equivalent tools).
- Experience working with modern analytical tools and cloud-based data environments, including relational and distributed data stores, with the ability to analyze large, complex datasets to assess model effectiveness, alert quality, risk coverage, and operational impacts.
- Strong understanding of model risk management principles, including model lifecycle governance, validation, documentation, and regulatory interaction.
- Experience preparing clear, well-structured technical and governance documentation and presenting analytical findings to senior stakeholders.
Salary Range: $80,000 - $140,000 Annual
The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.
Employees are eligible to participate in State Street's comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.
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