Job Description

Role Outline/Job Summary:

  • The role of Anti Money Laundering (AML) Independent Validation (IV) Statistician is part of Strategic Business Solutions group of Global Decision Management (GDM), based in Bangalore and reporting into the AVP/VP leading the team

  • The Statistician will have responsibility to conduct independent validation on anti-money laundering (AML) models, statistical analyses and optimization of the transaction monitoring system. The Statistician will execute model validation, complex statistical analysis, data visualizations, data processing based on the globally consistent standard, procedures and templates which incorporate, regulatory guidelines (OCC 2011-12), the Bank’s Model Risk Management Policy and framework and industry leading practices. The successful candidate is expected to execute with a high level of integrity, quality and attention to detail in both the work performed and its documentation, and present findings in a clear, understandable manner both in writing and verbally

  • Requirements include a background in statistics and/or mathematics, preferably also experience with data analysis and/or data mining. Fluency in English and very good oral and written communication skills are necessary as is the ability to read and create formal statistical documentation. Experience and knowledge in banking, finance and/or AML will be desirable

Role & Responsibilities: 

  • Perform model independent validation of AML Mantas Rule based models within the agreed schedule and ensure execution follows the global methodology and complies with model governance policy, guidelines and OCC requirements

  • Apply statistical methods to organize, analyze, and interpret data to perform model validations

  • Provide data pulls and reports directly from Oracle Database. Write efficient SQL and PL-SQL queries in complex Very Large Scale database environment. Monitor time and capacity used during query execution, design efficient query execution plans

  • Provide technical support to the team by implementing automation tools and integrating MS Office Excel, Oracle Database and SAS platforms. Design technical solutions supporting complex data reporting and analytical tasks. Generate complex graphical data reports, including data crosstabs, scatter plots and statistical measures

  • Ensure Data Quality and Reliability. Design and implement various Data Quality methods in SAS and Oracle database. Run quality checks against database and report all data issues. Detect data anomalies and identify source of data problems. Recommend data quality solutions

  • Evaluate model assumption, data completeness, limitations, conceptual soundness, functional soundness, modelling methodology, outcome analysis, etc. of models being validated

  • Prepare model validation reports in a detailed, structured and clear manner, describing the outcomes of the analysis performed and include a conclusion based on the validation

  • Use visualization techniques to display data and the results of analysis in clear straightforward presentations that can be understood by non-technical readers

  • Conduct annual model performance assessments to ensure existing models are working as intended and meet the criteria and /or make model improvement recommendations

  • Perform above the Line testing to identify the potential issues with thresholds used in the transaction monitoring.

  • Distribute validation reports and consult with model and business owners and other stakeholders such as senior management, on model validation results

 

 

Individual Contributor (IC)/Managerial: IC

 

Key Deliverables: 

  • The Statistician will have responsibility to conduct independent validation on anti-money laundering (AML) models, statistical analyses and optimization of the transaction monitoring system. The Statistician will execute validation, complex statistical analysis, data visualizations, data processing based on the globally consistent standard, procedures and templates which incorporate, regulatory guidelines (OCC 2011-12), the Bank’s Model Risk Management Policy and framework and industry leading practices

Percentage of Travel: 0%

 

Relocation: No

 

Qualifications:

 

Required:

 

Education: 

  • Masters in a numerate subject such as Mathematics, Operational Research, Business Administration, Economics etc. from Premier Institute or a record of accomplishment of performance that demonstrates this ability

Experience:

  • 3-6 years. Experience in Analytics Industry

  • Experience with statistical modelling

Skills:        

  • Strong statistics and data analytics academic background and knowledge of quantitative methods

  • Good knowledge of SAS, SQL, Hive, and/or other data processing languages (Knowledge of R is a plus)

  • Highly-skilled and good knowledge of MS Excel and VBA experience

  • Experience in reporting the results of analysis in clear written form, and in presenting the findings during meetings and conference calls

  • Team working experience (demonstrated team player ability required)

  • Understanding of technical requirements, ability to communicate with Technical Support

  • Very good written and verbal communication ability in an educational style. Ability to express thoughts and concepts clearly.

  • Ability to work well with a variety of people and to show team-player attitude regardless the scope of responsibilities.

  • Provide input into the innovation of new and enhanced approaches. Having initiative and a proactive attitude is desirable.

Other:        

 

Must have:

  • Statistical/data analytical skills - including both calculation and interpretation of outcome

  • Methodical analysis and problem-solving skills

  • Initiative, creativity and attention to detail are essential

  • Ability to work under close supervision of senior team member, while preserving independence of thinking and responsibility for the results.

  • Ability to discuss reasoning, critical assessment of facts and opinions; ability of giving comprehensive answers and arguments

  • Conceptual and creative thinking (outside the box)

  • Demonstrated ability to communicate effectively, both orally and in writing, through all levels of the organization and through different business units

  • Self-motivated with high desire of self-development and learning

  • Must be able to coordinate and deal with conflicting time demands

Preferred:

 

Experience:

  • Previous experience with financial services companies (retail banking, small business banking, commercial, institutional, private banking)

  • Mantas and AML monitoring systems experience or other transaction monitoring systems a plus

  • Knowledge of the local/regional laws and regulations applicable to anti-money laundering

Certifications:

  • Certification in SAS and/or R

Organizational Relationships:

 

Reports to:

  • Direct: AVP/VP of the tea