What are the responsibilities and job description for the Head of Model Risk Management position at Tbwa Chiat/Day Inc?
San Francisco, CA, New York, NY, Portland, OR, or Remote within United States
Mercury is building a complete finance stack for startups. We work hard to create the easiest and safest banking experience possible to simplify entrepreneurs' and business owners’ financial lives. The challenge is to do so while ensuring we protect Mercury, customers and the broader financial ecosystem from bad actors and harmful, illegal or unauthorized activities.
At Mercury, we’re taking Financial Crimes seriously. The BSA / AML & Sanctions compliance team serves as the oversight function for the overall AML & Sanctions program. As the Head of Model Risk Management, you will drive and own oversight of Mercury’s AML & Sanctions detection rules / models. You will be responsible for oversight of the development, validation, and ongoing monitoring of models used to detect anti-money laundering (AML) activities and ensure sanctions compliance. This role will also ensure that the rules / models Mercury deploys meet regulatory standards and internal policy requirements, providing assurance to senior management and partners that our AML and sanctions rules / models are robust, accurate, and compliant with legal requirements. The ideal candidate will bring expertise in both quantitative modeling and regulatory compliance, with a focus on the financial crime space.
Responsibilities
Here are some of the things you will do :
- Lead the development, implementation, and management of the model risk management framework for AML and sanctions compliance.
- Develop strategies to enhance model governance, including risk identification, model validation, and ongoing monitoring processes.
- Provide thought leadership and guidance on emerging risks, regulatory developments, and advancements in AML / sanctions model techniques.
- Represent Mercury’s Model Risk Management controls to our financial partners and internal stakeholders.
- Support the overall BSA / AML and Sanctions program through special projects as designated by leadership.
- Oversee the end-to-end lifecycle of AML and sanctions models, including design, validation, implementation, and performance monitoring.
- Support cross-functional teams, responsible for creating new models, to understand documentation requirements and testing requirements prior to model deployment.
- Review and validate model assumptions, methodology, data integrity, and documentation, ensuring regulatory compliance.
- Establish and enforce best practices for model validation, challenge processes, and periodic model recalibration.
- Assess the risks associated with the use of models, identifying weaknesses and recommending improvements.
- Develop controls and testing strategies to ensure model outputs align with AML and sanctions compliance objectives.
- Monitor model performance and manage remediation of model deficiencies.
Stakeholder Engagement
Regulatory Compliance
Qualifications
There are lots of paths that could lead you to be successful in a role like this; we think the strongest candidates will have some of these experiences or attributes :
The total rewards package at Mercury includes base salary, equity (stock options), and benefits.
Our salary and equity ranges are highly competitive within the SaaS and fintech industry and are updated regularly using the most reliable compensation survey data for our industry. New hire offers are made based on a candidate’s experience, expertise, geographic location, and internal pay equity relative to peers.
Salary Ranges
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Salary : $250,200 - $294,300
