AML Risk and Controls Officer

This is a fully remote position, open to applicants in Spain, +2 more countries.

📋 Description

• Detect financial-crime behaviors overlooked by Transaction Monitoring controls.

• Convert validated anomalies into documented scenarios within Finom's FinCrime Scenarios Library.

• Analyze sources including police reports, partner insights, industry typologies, anomaly reports, and model outputs.

• Collaborate with the AML Risk Manager to design mitigation strategies, which may include new rules, threshold adjustments, and model enhancements.

• Conduct back-testing of rules using historical data to evaluate alert volume, hit rate, and false positive rates.

• Prepare specifications for rules, test results, and acceptance criteria while coordinating with Engineering for deployment.

• Oversee the performance of live rules, making adjustments, escalating issues, or retiring them as needed based on precision or alert volume fluctuations.

• Validate internally developed Machine Learning models prior to production and monitor their real-time performance.

• Maintain the FinCrime Scenarios Library, reporting on control coverage and the rate of false negatives.

• Enhance Transaction Monitoring and CDD Risk Engines.

• Create training resources for Transaction Monitoring and Quality Assurance teams.

• Lead departmental process enhancements and draft or review financial-crime system specifications.

• Initiate and take ownership of ad hoc departmental projects.

• Present findings and recommendations to colleagues in Product, Engineering, Operations, and other departments.

⛳️ Requirements

• At least 2 years of experience in the Second Line of Defence at a regulated financial institution, or 3 years in a senior Transaction Monitoring role or as a Process Owner.

• Comprehensive understanding of AML regulations and money laundering typologies related to transaction data, including mule accounts, layering through rapid pass-through payments, structuring, and misuse of business accounts.

• Proficient in SQL, including the ability to perform joins across large transaction datasets.

• Familiarity with data analytics and visualization tools such as Databricks, Metabase, or Power BI.

• Knowledge of detection rule testing and measurement, including false positives, false negatives, hit rate, precision, recall, and back-testing methodologies.

• Structured, evidence-based analytical skills with a keen attention to detail.

• Ability to operate independently with minimal supervision in a dynamic start-up environment.

• Practical experience utilizing AI tools for investigation and analysis is highly advantageous.

• Proficiency in Python or similar scripting languages for analysis and automation is a significant plus.

• Experience in validating or monitoring Machine Learning models used for AML detection is a strong advantage.

• Background in a fintech, neobank, or payment institution catering to SMEs is highly desirable.

🏝️ Benefits

• Access to resources and opportunities for ongoing personal and professional growth.

• Flexibility to travel and work remotely or in a hybrid model across Europe.

• Stock Options Program available to all team members.

• Continuous support and care for employees.

• A modern, friendly, and eco-conscious corporate culture.

• One month stay in a corporate apartment in Cyprus through the Work & Swim Program.