Business Analyst Lead - (Risk, Compliance, AML) - #5784 Duration: 6 months+ Location: Omaha ... Works as a liaison among stakeholders to elicit, analyze, communicate, validate and document ...
Business Analyst Lead - (Risk, Compliance, AML) - #5784 Duration: 6 months+ Location: Omaha ... Works as a liaison among stakeholders to elicit, analyze, communicate, validate and document ...
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 Nebraska?
For Aml Model Validation jobs in Nebraska, the most frequently searched job titles are:
What job categories do people searching Aml Model Validation jobs in Nebraska look for?
The top searched job categories for Aml Model Validation jobs in Nebraska are:
What cities in Nebraska are hiring for Aml Model Validation jobs?
Cities in Nebraska with the most Aml Model Validation job openings:
Job description
Company Description
Job Description
Position: Business Analyst Lead - (Risk, Compliance, AML) - #5784
Duration: 6 months+
Location: Omaha, Nebraska
Visa: GC,US Citizen
Interview Process (Phone, In-Person, Both): Phone and In-Person
Core Job Requirements:
*Strongly require 5 yrs of Business Analyst experience
*Requires 2 yrs of Financial Services experience
* Knowledge or experience with Risk Management, Compliance, or AML initiatives beneficial/preferred
*Works with PM, stakeholders, and product counterparts to negotiate and manage a reasonable scope for assigned projects
* Exceptional written and verbal communication skills
* Exceptional active listening skills
* Experience with analyzing and solving problems of a complex nature
* Ability to effectively work with others in a team environment
* Experience with Business Analysis Methodologies
* Proven ability to meet deadlines while simultaneously working multiple projects
# of Years Required: Minimum of 5 years Business Analysis or equivalent experience
Minimum of 2 years Financial Services industry experience
Preferred Skills: Knowledge or experience with Risk Management, Compliance, or AML initiatives beneficial/preferred.
Generic Job Requirements Including but not limited to:
* Estimates time required to deliver project artifacts and reports progress toward delivery goals throughout the project
* Leads key stakeholder analysis process
* Interacts with project stakeholders to elicit and document project requirements by translating business needs into testable, developer-ready requirements
* Produces professional quality project artifacts including but not limited to business requirement documents, requirement plans, models (e.g. data, event, context and process), traceability matrices, use cases, issue logs and other documents as needed.
* Ensures that system requirements meet business needs and that the business is able to fully integrate and implement new systems or system features
* Partners with project stakeholders to manage requirement change requests throughout the project
* Respectfully challenges requirement additions that lead to scope creep
* Identifies and communicates risks as well as possible solutions
* Assists the business in determining if and how new systems or system enhancements may improve process flow and business function
* Serves as a critical resource and liaison between subject matter experts and technologists throughout the project lifecycle
* Works with the business to recommend appropriate training, communication and scheduling as systems are deployed
* Works with the project team to determine appropriate test plans, deployment plans and supports the product launch
* Participates in the Quality Inspection process for all requirements
* Secures Business Requirement Document approvals from project stakeholders
* Other tasks to be determined by management and project needs
Description:
Works with PM, stakeholders, and business counterparts to negotiate and manage a reasonable scope for assigned projects.
Works as a liaison among stakeholders to elicit, analyze, communicate, validate and document requirements for changes to business processes, policies and information systems.
Business Analysts must be inquisitive and able to efficiently reach an understanding of complex tasks while using this understanding to produce project artifacts that satisfy project objectives.
Qualifications
Preferred Skills: Knowledge or experience with Risk Management, Compliance, or AML initiatives beneficial/preferred.
Additional Information
About stem xpert
Sourced by ZipRecruiter
STEM Xpert, based in Ann Arbor, MI, US, is a leading company in the Science, Technology, Engineering, and Mathematics (STEM) education industry. Since their establishment, they have made an indelible mark by providing innovative services and products designed to enhance STEM learning. Their service portfolio includes comprehensive educational programs, customized learning modules and interactive STEM kits. Driven by a passion for nurturing young minds, the company's mission is to bring about an educational renaissance in the STEM field, making learning not just theoretical but practical and fun. One notable achievement for STEM Xpert has been its success in reaching a broad spectrum of learners, from school-age to adults, contributing significantly towards empowering the community's technological and scientific literacy.
Industry
Recruiting and staffing services
Company size
51 - 200 Employees
Headquarters location
Ann Arbor, MI, US
Year founded
2012