Skill: • Assisting in performing quality checks (Quantitative & Qualitative) on the Sanctions Risk Assessment.
• Documenting which includes dealing with auditors and model validation
• Has expertise to advise Anti-Money Laundering (AML)/ Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) requirements; related near-term issues and changes, as well strategy
• Proficiency to work with compliance team members, IT system owners, and system architects to perform model validation for Sanctions Screening system
• Developing mitigation action plan for the deficient controls that were detected as part of risk assessment and performing quality analysis and other activities on customer screening systems.
• Performing tuning/systems configuration changes on Sanctions systems for customer screening
• Monitor, test, and audit sanctions risk assessment protocols to develop robust sanctions and export controls compliance program
• Work with database administrators, IT system owners to obtain relevant data for sanctions inherent risk calculation based on various factors
• Provide quantitative and qualitative review of data or reports to be incorporated into regulatory submissions to assure scientific rigor, accuracy, and clarity of presentation
• Present findings and reports to senior management and obtain approval for reports to be submitted to different regulatory bodies
• Assist in performing QA activities on Sanctions Screening systems such as sanctions list validation when updates are announced by the regulatory agency
• Work with different stakeholders in refining Sanctions QA processes and procedures to reduce manual intervention for validation
• Perform alert rate benchmarking analysis of firm’s screening system with global benchmarking provider solution so as to understand the performance of the existing systems
Experience: Atleast 5 years of experience in the field of regulatory affairs, implementing Anti-Money Laundering (AML), Anti-Threat Finance (ATF), Bank Secrecy Act (BSA), USA PATRIOT Act, and Sanctions programs.
Technical Skills: Expertise in business intelligence and data analysis software such as QlikView, database user interface and query software such as Microsoft access and SQL, document management software such as Adobe Acrobat and Project Management Software such as Microsoft Project and Microsoft SharePoint, Sanctions screening systems such as Fircosoft, Accuity, Actimize and Bridger etc.
Education: Required a minimum of Bachelor’s degree in IT, Engineering, Science or any other related fields