Senior Consultant
Ann Arbor, MI · Remote
$149K/yr
Plan and execute system testing activities to validate configuration accuracy and functional ... Lifecyle Management (AML) tools (RM and JIRA), Business Process Model and Notation (BPMN ...
Senior Consultant
Ann Arbor, MI · Remote
$149K/yr
Plan and execute system testing activities to validate configuration accuracy and functional ... Lifecyle Management (AML) tools (RM and JIRA), Business Process Model and Notation (BPMN ...
... models and assign roles and responsibilities for data ownership across business units • Create ... appropriate validation • Evaluate and recommend data platform technologies aligned with ...
... models and assign roles and responsibilities for data ownership across business units • Create ... appropriate validation • Evaluate and recommend data platform technologies aligned with ...
Aml Model Validation information
What are the key skills and qualifications needed to thrive as an AML Model Validation Analyst, and why are they important?
To excel in AML Model Validation, you typically need a strong background in quantitative analysis, statistics, and experience with anti-money laundering regulations, often supported by a degree in finance, mathematics, or a related field. Familiarity with statistical software (such as SAS, R, or Python), model validation frameworks, and knowledge of regulatory guidelines like those from the OCC or FFIEC are important. Strong analytical thinking, attention to detail, and clear communication skills set outstanding professionals apart in this role. These competencies are crucial for ensuring AML models are accurate, compliant, and effective in detecting suspicious financial activities.
What is AML model validation?
AML model validation is the process of evaluating and testing anti-money laundering (AML) models to ensure they are accurate, effective, and compliant with regulatory standards. This involves examining the model’s design, data inputs, performance metrics, and overall effectiveness in detecting suspicious activities. Regular validation helps to identify weaknesses, reduce false positives or negatives, and ensure that the model adapts to evolving risk scenarios. Financial institutions are required by regulators to validate their AML models regularly to mitigate risks and maintain robust compliance programs.
What are some common challenges faced by professionals in AML Model Validation roles, and how can they be addressed?
Professionals in AML Model Validation often encounter challenges such as ensuring models remain effective against evolving financial crime techniques and managing the complexity of regulatory expectations. They must regularly update and back-test models to address changes in transaction patterns and compliance requirements, which can be resource-intensive. Collaboration with data scientists, risk management teams, and compliance officers is crucial for interpreting results and implementing improvements. Staying current with regulatory guidance and industry best practices helps address these challenges and supports career advancement in this dynamic field.
What is the difference between Aml Model Validation vs Aml Analyst?
| Aspect | Aml Model Validation | Aml Analyst |
|---|---|---|
| Certifications | AML certifications, model validation training | AML certifications, compliance training |
| Work Environment | Model validation teams, risk management departments | Compliance departments, financial institutions |
| Primary Focus | Validating AML models, ensuring accuracy and effectiveness | Monitoring transactions, investigating suspicious activities |
| Industry Usage | Financial institutions, banks, fintechs | Financial institutions, banks, regulatory agencies |
While both roles operate within AML frameworks, Aml Model Validation focuses on testing and validating AML models to ensure they work effectively, whereas Aml Analysts handle daily transaction monitoring and investigations. The validation role emphasizes model accuracy and compliance, while analysts focus on detecting and reporting suspicious activities.
What are popular job titles related to Aml Model Validation jobs in Michigan? For Aml Model Validation jobs in Michigan, the most frequently searched job titles are:
What job categories do people searching Aml Model Validation jobs in Michigan look for? The top searched job categories for Aml Model Validation jobs in Michigan are:
$149K/yr
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Job description
Senior Consultant, Merative US LP, Ann Arbor, MI and various unanticipated client sites throughout the US (Up to 100% telecommuting permitted): Develop integrated solutions and business processes in human services domains (such as welfare, medical assistance, child protection, child support, eligibility, health insurance). Develop and define requirements through client interviews and workshops leveraging Curam Business Application Suite (CBAS). Lead Fit/Gap analysis sessions as a Curam subject matter expert to align business requirements with standard platform functionality and identify required functional extensions. Design functional specifications and configure CBAS to meet client business needs. Act as a liaison between technical teams and client subject matter experts to support solution development and implementation. Plan and execute system testing activities to validate configuration accuracy and functional coverage. Mentor teams and stakeholders on Curam out-of-the-box (OOTB) functionality in relation to client requirements. Collaborate with testing teams to ensure comprehensive test coverage and review test cases and testing strategies, act as a quality assurance tester as needed. Facilitate Joint Application Design (JAD) sessions and provide guidance on the platform data model, including entities, attributes, and relationships. Utilize: Curam Social Program Management (Curam SPM), Application Lifecyle Management (AML) tools (RM and JIRA), Business Process Model and Notation (BPMN), ServiceNow, Structured Query Language (SQL), Requirements Elicitation and Analysis Techniques (RET). Required: Bachelor's degree or equivalent in Information Technology, Engineering, Business, Management or related and two (2) years of experience as a Curam Business Analyst, IT Consultant or related. Two (2) years of experience must include utilizing Curam Social Program Management (Curam SPM), Application Lifecyle Management (AML) tools (RM and JIRA), Business Process Model and Notation (BPMN), ServiceNow, Structured Query Language (SQL), Requirements Elicitation and Analysis Techniques (RET). $149350 per year. Full time. AV222.
Education/Experience
Degree: Bachelor's degree or equivalent
Field of Study: Information Technology, Engineering, Business, Management or related
Experience:
Two (2) years of experience as a Curam Business Analyst, IT Consultant or related.
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Compensation
The salary range provided in this job posting is intended to reflect the general market value for the position. The actual salary offered may vary based on factors such as the candidate's experience, qualifications, skills, and the specific requirements of the role. This range may also be subject to change as market conditions evolve. We encourage open communication throughout the interview process to discuss compensation expectations. For base-salary + commission sales roles, the range represents On-Target Earnings.
Min - Max :
$93,944.24 - $140,916.36 (USD)Benefits
The benefits described represent the current offerings at our organization, however, benefits are subject to change and may vary by location and employment status. We strive to provide a comprehensive benefits package that supports our employees' health, wellness, and financial goals. Please note that benefits may be discussed in more detail during the hiring process.
Remote first / work from home culture
Flexible vacation to help you rest, recharge, and connect with loved ones
Paid leave benefits
Health, dental, and vision insurance
401k retirement savings plan
Infertility benefits
Tuition reimbursement, life insurance, EAP - and more!
It is the policy of Merative to provide equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law. In addition, Merative will provide reasonable accommodations for qualified individuals with disabilities.
Merative participates in the federal E-Verify program to confirm the identity and employment authorization of all newly hired employees. For further information about the E-Verify program, please click here: http://www.uscis.gov/e-verify/employees
About Merative
Sourced by ZipRecruiter
Industry
It services
Company size
10,000+ Employees
Headquarters location
Ann Arbor, MI, US
Year founded
2022