Senior Data Governance & Analytics Specialist ( Financial Crimes )
Less than 5 years experience •
The Sr. Data Governance & Analytics Specialist (“Sr. Analytics Specialist”) will support the Data Governance and Analytics team within the Financial Crimes Risk Management Department (“FCRMD”). The team’s overall responsibility is to assist in the development, enhancement, implementation and optimization of the Bank’s Anti-Money Laundering (“AML”) and Fraud surveillance strategies, through extensive use of analytics. This position is responsible for evaluating the effectiveness of AML & Fraud transaction monitoring alerts and performing Close-to-Line (“CTL”) analysis, as well as, Above-the-Line (“ATL”) and Below-the-Line (“BTL”) sensitivity testing when required.
This role will require heavy participation in AML & Fraud Rule tuning exercises through the usage of statistical analysis on large datasets. The objective of this team is to optimize alert thresholds within the transaction monitoring systems and increase the overall effectiveness of alerts. Sr. Analytics Specialist will work closely with Data Governance and Analytics Supervisor in developing and documenting automated transaction monitoring scenarios and corresponding data-driven tuning methodologies.
This position is also responsible for supporting the overall design, development, and delivery of management metrics utilizing multiple systems within the FCRMD environment including Fiserv, Hyperion, AS400, and more. Moreover, Sr. Analytics Specialist will also participate in systems’ enhancement & testing initiatives on a periodic basis in close collaboration with FCRMD Systems Manager.
This role will provide candidate with an opportunity to develop subject matter expertise in AML and Fraud monitoring processes as well as provide direct exposure to executive management. Moreover, candidate will be provided an opportunity in future to lead and roll out governance programs for FCRMD.
ESSENTIAL DUTIES AND RESPONSIBILITIES
These are the most significant job duties performed. The size, scope and complexity of assigned duties and responsibilities are dependent on the level and experience of the incumbent. To perform this job successfully, an individual must be able to perform each assigned essential duty satisfactorily. Other responsibilities or special projects not specifically mentioned may also be assigned.
- Conducts regular quantitative analysis of AML and Fraud Monitoring system output to verify model accuracy, efficiency, and effectiveness of alerts generated.
- Develops expertise in transaction life cycle from source systems through the AML, Prepaid, and Fraud monitoring platforms and via client risk assessments.
- Assists with enhancing current tests including, but not limited to, CTL, ATL, BTL, SAR testing, population distribution analysis.
- Automates statistical/quantitative models to test effectiveness of proposed threshold parameters for existing/new rules. Models should be multi-variate in nature to incorporate all rule testing aspects as identified above.
- Builds relationship with Vendors to escalate code alterations and any parameter changes as required due ineffectiveness of current rules, and/or troubleshoot system glitches.
- Maintains ongoing customer review score tracking in Access/SQL/SAS/Excel databases.
- Assists or leads efforts when needed in periodically testing for system efficiencies, enhancement & testing initiatives.
- Understands and complies with all Bank policies and procedures, and federal and state laws and regulations pertinent to this position; stays informed and shares updates on changes with management. Required to successfully complete all required Compliance training.
- Continuously supports the Bank’s Mission Statement and Core Values.
- Leads work-stream efforts to analyze metrics and determine potential improvements required for yield optimization, and develop actions/strategies to enhance detection of suspicious activity.
- Ensures that the AML and Fraud transaction monitoring rules monitor for appropriate high-risk products/typologies such as international exposure, new accounts, structuring, and more.
- Builds relationships with investigation units, documenting and understanding key feedback.
- Performs ad-hoc reviews as a result of events, issues or areas of concern and applies discovery analytics to evaluate potential risks and provide process based business solutions internally.
- Provides innovative solutions to testing/tuning methodologies and provide effective planning for model governance; work with business control unit to enhance process workflow internally.
- Assists in the development of metrics, KPIs, KRIs, Production Reports, and other line of business-level reporting.
- Provides subject matter expertise in various systems and reporting tools.
- Presents metrics, rule updates, ad hoc analysis to upper management using ppt/memos/etc.
- Liaises with external vendors, as necessary, to troubleshoot issues.
- Leads weekly/monthly team meetings on status updates.
- Assists with FCRMD special projects.
This position has no supervisory responsibilities.
The requirements listed below are representative of the knowledge, skill, and/or ability required to perform this job successfully. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and Work Experience
Bachelor's degree from a four-year college or university in Business or Quantitative subject field (e.g., Economics, Mathematics, Statistics, Actuarial Science, Computer Science, Finance); and three or more years of proven experience in analyzing data in the financial services sector, or related industry. Tuning and optimizing AML and/or Fraud monitoring systems and scenarios is a plus. SQL coding experience is a plus. Microsoft Access or other database building is a plus.