Fcc Model Management Analyst

Who We Are

Cross River is a highly profitable, fast-growing financial technology company powering the future of financial services. Our comprehensive suite of innovative and scalable embedded payments, cards, and lending products deliver financial services for millions of businesses and consumers around the globe. Cross River is backed by leading investors and serves the world's most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion. 

We are on a mission to build the infrastructure that propels access, inclusion, and the democratization of financial services. While our company has tripled in size over the last three years, our strong sense of purpose led Cross River to be named to American Banker's list of Best Places to Work in Fintech for the last 6 years. The reason for this success is simple - our nimble and collaborative family culture lives in every member of our growing team. Together we are at the forefront of technology and innovation, and we invite passionate, collaborative, and motivated high performers to join our expanding team.

What We're Looking For

Cross River's Financial Crimes Compliance ("FCC") team's role is to ensure that our business is always consistent with current regulations while also remaining within Cross River's risk appetite. As part of the FCC team you will play a key role. Model Management is a critical component to support CRB's compliance program and initiatives. The FCC Model Management Analyst will support ongoing documentation and improvements to BSA/AML and OFAC/Sanctions models, including documentation of model enhancements, vendor relationships, testing activities, tuning activities, and support of Model Risk Management ("MRM") requests. This individual will provide subject matter expertise related to BSA/AML and OFAC/Sanctions models and drive program management activities to further improve the BSA/AML and OFAC/Sanctions program.

Responsibilities:

• Review Model Validation reports and ensure appropriate actions are taken to document model changes and escalate concerns to management
• Serve as a primary point of contact for the Bank's Model Risk Management team in relation to BSA/AML and OFAC Models
• Drive model improvements from a program management perspective ensuring adherence to any action plan timelines resulting from MRM findings or observations
• Review compensating controls for models with issues and track remediation activities
• Ensure that Model Owners are apprised of any model issues and maintain status reporting
• Support enhancement activities for internally developed models and serve as primary point of contact for business requirement changes working directly with developers to implement approved changes timely

Qualifications:

• Bachelor's Degree
• Experience with BSA/AML (e.g., scenario development and segmentation, threshold tuning) and OFAC models (e.g., matching algorithms and fuzzy logic) and familiarity with vendor models (e.g., CSI WatchDog, Verafin, SAS AML/VI)
• Knowledge of SQL, SAS, Python, VBA or other programming languages; familiarity with AWS
• Strong verbal and written communication skills and ability to communicate technical information to non-technical audiences
• Minimum of 3 years of BSA/AML and OFAC/Sanctions compliance experience; experience working for financial institutions or highly regulated industry and/or law enforcement and investigations preferred
• Background knowledge of BSA and AML laws and regulations, including the Bank Secrecy Act, the USA Patriot Act and OFAC requirements
• Knowledge of enhanced due diligence matters, financial fraud and applicable state and federal laws, payments, MSBs, correspondent banking and complex customer types and product offerings
• Ability to manage complexity, multi-task and deliver solutions on a tight deadline
• Experience in model risk management, model testing and model documentation preferred
• Experience of working within a strong regulatory/control environment
• Strong communication skills, written and verbal
• Strong analytical, problem solving and organizational skills
• Ability to multi-task, inclusive of ability to plan, organize and prioritize workloads
• Ability to work independently and as part of a team and work on own initiative, strong interpersonal and relationship building skills
• Proficient in Microsoft Excel and Microsoft Word

#LI-JJ1 #LI-Hybrid #LI-Onsite #LI-Remote

Salary Range: $60,000.00 - $90,000.00