Data Science & Analytics AML Operations, High Risk Detection Group

Description

The Global Credit, AML, Onboarding Organization is a central control function which governs, facilitates, and oversees the end-to-end AML program across all GB & GM businesses and jurisdictions globally and manage AML risks by implementing and executing processes and controls.

The High-Risk Detection Group is part of AML Operations supporting Global Banking (GB), Global Markets (GM), Consumer & Small Businesses LOBs with responsibility to detect high risk within the business scope through ongoing monitoring and due diligence.

This is managed through 4 Functional teams : AML Screening, Periodic Transaction Monitoring, Enhanced Client Diligence and Sanctions Monitoring

Key Responsibilities

• Primary responsibility is to create / update business rules to minimize the false-positive Screening alerts to improve efficiency and effectives of the alert review process.
• Primary responsibility is to develop advanced machine learning models for AML risk detection, including models specifically tailored for minimizing false positives in the alert review process
• Manage the multiple on-going initiatives by attending calls from various projects, understand the Screening needs from the cross-LOB projects, provide requirements to the projects and track the status of these projects.
• Collaborate with cross-LOB teams to integrate data science solutions into existing AML systems
• Analyze large datasets to identify patterns and trends associated with high risk activities
• Assist in on-boarding new applications / Clients into the Screening platform requiring detailed discussions with various lines of businesses in understanding the nature and type of data received from and assist in data mapping into standard formats acceptable for Sanctions screening.
• Ability to query & analyze the data required for ad hoc requirements on the fly and generate reports for the team to use.
• Work with technology teams for requirements / testing and implementing changes to improve / automate processes and stay abreast of industry trends and emerging technologies
• Create detailed visualizations for use both by users and leaders for data analytics

Required Skills (must have these skills to be minimally qualified) :

• Master’s or Bachelor’s degree in computer science, Data Science, Data Management, Statistics or related fields
• Proven experience in developing and implementing machine learning models (both supervised and unsupervised learning) for financial risk detection
• Awareness of AI / Machine learning concepts and ability to implement such strategies.
• Good experience in Data Analytics and interpretation of large volumes of Data
• Scripting Programming experience with any language like Python, R, Java, VB

Desired Skills :

• Preferred experience in Screening / AML processes
• Advanced knowledge in SQL and using tools like TOAD.
• Has good data transformation / formatting experience and be able to work with data in different formats.
• Good logical thinking capabilities with a technical mind-set
• Advanced knowledge in using Microsoft Excel and MS Access
• Good Knowledge in using Microsoft products Word, Outlook, PowerPoint and Visio.
• Team player attitude, enthusiasm, and commitment
• Ability to prioritize, use own initiative, make quick decisions, be flexible and work independently.
• Ability to work remotely, with teams spread globally, under pressure, meet deadlines and navigate change.
• Ability to work and interact with people from a diverse range of backgrounds and opinions.
• Knowledge of Screening programs requirements
• Experience in Global Banking & Markets business process is a plus
• Experience in screening applications like Fircosoft

About Bank of America

Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 35 countries.

In the U.S. alone, we serve almost all of the Fortune 500 companies and approximately 67 million consumer and small-business clients.

We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.

Shift :

1st shift (United States of America)

Hours Per Week :