Remote Head of Model Risk Management

Summary

Join Mercury, a financial technology company, as the Head of Model Risk Management to drive and own oversight of Mercury's AML & Sanctions detection rules/models. You will lead the development, implementation, and management of the model risk management framework for AML and sanctions compliance.

Requirements

• Bachelor’s degree or relevant industry experience in a quantitative field such as Finance, Statistics, Mathematics, Computer Science, or Economics. A Master’s degree or PhD is preferred
• 10+ years of experience in model risk management, financial crime compliance, or a related field, with a focus on AML and sanctions, with at least 5+ years of experience in a direct people management role
• Strong knowledge of regulatory requirements and industry standards related to AML, sanctions, and financial crime compliance
• Proficiency in quantitative modeling techniques, statistical analysis, and machine learning methodologies
• Experience working with AML transaction monitoring systems and sanctions screening tools
• Excellent verbal and written communication and collaboration skills, with the ability to influence, motivate, and guide teams through complex situations and present complex information clearly to senior leadership and regulators
• Certifications such as CAMS (Certified Anti-Money Laundering Specialist) or CRCM (Certified Regulatory Compliance Manager)
• Experience with regulatory technology solutions for AML and sanctions screening
• Familiarity with risk management frameworks such as SR 11-7 and other model governance standards

Responsibilities

• 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
• Serve as the primary point of contact with partners and internal audit teams regarding model risk management for AML and sanctions
• Collaborate with the compliance, legal, and technology teams to ensure models meet regulatory requirements
• Provide regular updates to senior leadership on the effectiveness and risks associated with the firm’s AML and sanctions models

Benefits

The total rewards package at Mercury includes base salary, equity (stock options), and benefits