Transaction Monitoring Data Analyst
Type: Contract
Start Date: ASAP
Duration: 6 Months (w/ potential for extension)
Location: Whippany, NJ (HYBRID)
Schedule: Monday-Friday, 8 hours per day, 40 hours per week
Pay Range: $40 to $48 per hour
Company Overview:
Our client is a leading banking organization. They are diversified by business, by different types of customers and clients, and by geography. Their businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, global corporate and investment bank, all of which are supported by their service company which provides technology, operations and functional services across the organization.
Position Summary:
The role will focus predominantly on the development and optimization of TM solutions for in-scope client businesses / locations, including: Detailed model analysis within the TM area - conducting analysis of different TM systems currently deployed globally. In addition, there is a requirement to collaborate with various stakeholders (within Model Validation teams and outside) and answer queries related to model risk, underlying customer/transaction data and various parts of the model lifecycle.
Working with compliance colleagues to support the development, implementation and optimization of automated TM automated solutions and capabilities
Collaborating with various Compliance leads, key Business, Operational, Technology and Financial Crime stakeholders to understand key priorities for the bank and identify enhancement opportunities
Responsibilities:
Support the development of the Model Risk Methodology (MRM) framework to ensure that it fulfils the requirements of the Internal Model Validation team and the wider Transaction Monitoring function, including;
Ensuring that all steps and assumptions made in model development are documented, can be replicated, and are assessed from a risk standpoint.
Asserting that findings in model documentation are stated accurately, particularly in instances where statistics / data science techniques are used in model methodology.
Supporting the development, validation and onboarding of new models, while incorporating essential requirements of the TM function.
Building knowledge on TM platforms by working with internal SMEs, to support with periodic model approvals.
Work with colleagues to support the development, implementation and optimization of Global TM solutions and capabilities, including;
Supporting regular review & optimization of TM solutions, maximizing effectiveness and efficiency, and ensuring a risk-based approach is taken
Developing and operationalizing bespoke monitoring and oversight solutions within our Financial Crime data sources, including rules, models, typologies, profiles and dashboards.
Ensuring TM solutions are rigorously built and embedded into routine processes, enabling proactive identification of money laundering and financial crime risks.
Develop new / innovative methods to visualize effectiveness of TM solutions
Engaged in data related activities including working with CDO and involving in providing SEM input and designing the data quality control.
Collaborate with Compliance leads and key Business, Operational, Technology and Financial Crime stakeholders to understand key priorities for the bank and identify opportunities to enhance existing data/infrastructure/capabilities/processes, to maximize effectiveness and efficiency.
Support innovation within in the field of TM, and data analytics, taking inspiration from pioneering teams within the organization, leading peer institutions, or from different fields altogether, to enhance TM capabilities within the company.
Design, maintain and improve the MI dashboard and provide strategic vision to leverage MI for informed risk decision making.
Work in close collaboration with product owners, compliance analytics and Quant analytics team to identify and explore modelling, Machine Learning, advanced techniques like Gen AI capability to enhance TM monitoring capability.
Stakeholder Management and Leadership: Work closely with consumers of Internal Model Validation teams to ensure model capabilities and limitations are understood correctly.
Provide ongoing guidance and support to business and technical stakeholders – acting as an interpreter between business and technical areas, explaining requirements and translating technical subject matter where appropriate.
Maintain strong relationships with the broader Financial Crime team and agenda to inform/leverage future capabilities and drive requirements with the team.
Promote an environment of high quality of delivery and continuous improvement – with particular focus on standardizing, automating and optimizing processes,
Follow appropriate governance and oversight requirements, maintaining a correct audit trail where required.
Decision-making and Problem Solving: Challenge existing processes and capabilities within the team, initiate and encourage improved ways of working to make the TM model development, design and approval process smooth.
Continuously identify relevant data sources to meet Financial Crime priorities based on the limitations of existing dataset, market leading developments and direct stakeholder feedback.
Work with teams in multiple business areas and jurisdictions.
Basic Qualifications:
Be able to challenge others and be open to challenge, particularly in the area of testing assumptions within models.
Manage competing priorities and demands to achieve stretch goals and deliver results.
Ability to solve problems logically and/or creatively, demonstrating professional judgment, quality control and adherence to high standards.
Capability to concisely communicate technical ideas and concepts to a range of audiences in a variety of circumstances
Preferred Qualifications:
Understand statistical models - their strengths and weaknesses, as well as performing and documenting testing approaches.
Experience in development of data visualizations/dashboards; preferably Tableau or similar (such as Qlikview, PowerBI)
Hands on experience of common Data Science tools, libraries and languages (SQL , Python, R, Scala, Spark)
Degree in Computer Science, Data Science, Mathematics, Statistics, Physics or similar appropriate Degree
DETAILS AT A GLANCE
JOB TITLE: Transaction Monitoring Data Analyst
TIME COMMITMENT: 40 hours per week
HOURS: Monday-Friday, 8 hours per day
JOB TYPE: Contract
LOCATION: Whippany, NJ
SALARY: $40.00 to $48.00 per hour
START DATE: ASAP
DURATION: 6 Months
APPLICATION DEADLINE: ASAP
BNA RECRUITER: Nick Yacobi
HOW TO APPLY: Click on the apply button, fill out the form and upload your resume.
Please make sure to reference the job title and the BNA Recruiter Name.
This role is a TEMPORARY position through BNA. You would be employed and paid by our company and working directly with our client.