Title: AML Analyst (Model Risk Audit)
Office Status: Remote
Pay Rate: $90
Contract Length:ABOUT THE ROLEA financial services organization is seeking an experienced Model Risk Auditor with deep expertise in AML, BSA, and KYC financial crime models. This contract professional will independently lead complex internal audit work, evaluate model governance and effectiveness, and provide objective challenge to model owners and business stakeholders. The ideal candidate combines hands-on knowledge of traditional statistical models with emerging machine learning and AI technologies used in financial crime compliance.
RESPONSIBILITIES- Independently execute complex internal audits covering AML, BSA, KYC, and financial crime compliance models.
- Serve as Auditor-in-Charge for assigned model risk audits, managing audit activities from planning through final reporting.
- Develop risk-based audit programs and determine appropriate testing procedures based on model and regulatory risks.
- Evaluate the development, validation, implementation, and ongoing monitoring of AML/BSA/KYC models.
- Assess transaction monitoring, sanctions screening, alert prioritization, customer risk rating, and related financial crime models.
- Perform effective challenge of model assumptions, conceptual soundness, data quality, methodology, outcomes, and monitoring processes.
- Evaluate models incorporating machine learning, natural language processing, and generative AI where applicable.
- Assess AI and ML governance practices, including explainability, model transparency, bias and fairness considerations, monitoring, and regulatory compliance.
- Lead audit teams and coordinate testing, documentation, issue identification, and remediation discussions.
- Communicate audit observations and findings clearly to business partners, model owners, and senior management.
- Develop practical recommendations that address identified risks and align with applicable regulatory expectations.
- Maintain a high standard of integrity, professionalism, independence, and confidentiality throughout audit engagements.