Specialist Compliance System Fircosoft

• Developing threshold setting methodologies based on statistical models (e.g. Normal Distribution or Jump Analysis)
• Sub-dividing customers into segments using statistical tools including conjoint analysis and clustering algorithms
• Modelling detection scenarios and testing thresholds with statistical tools (e.g. R, SAS and Python)
• Verifying that data mapping and thresholds are complete and fit for purpose
• Reducing the volume of false and low-quality alerts using alerts analysis and data mining
• Tracking, logging and escalating issues to the senior management
• Documenting tuning-related activities and presenting corresponding reports
• Setting up governance around tuning activities
• Applying risk based thresholds for all detection scenarios across all locations
• Analyzing machine learning model outputs and apply corresponding learnings for better quality alerts

Technical Skills

• Experience building statistical models i.e. classification, regression, clustering etc
• Strong knowledge of SAS Enterprise Guide.
• Strong data mining and text analytics skills.
• Strong data collection and analysis skills.
• Basic knowledge of SAS E-miner
• Understanding of banking products and processes.
• Experience with FiServ or similar AML Transaction Monitoring tools.
• Advanced excel knowledge

Desired candidate profile

1. Regulatory and Legal Framework
   • Laws and Regulations : A compliance system must be built around the specific laws and regulations relevant to the organization's industry and geographical location (e.g., GDPR for data protection, HIPAA for healthcare, SOX for financial reporting, etc.).
   • Internal Policies : Compliance systems often include internal company policies and procedures that define the ethical standards and behaviors expected of employees.
2. Risk Assessment and Management
   • Risk Identification : Compliance systems begin with identifying potential risks, including legal, financial, operational, and reputational risks.
   • Risk Evaluation : After identifying risks, compliance teams evaluate the likelihood and potential impact of these risks on the organization.
   • Risk Mitigation : Developing and implementing strategies and controls to minimize or eliminate the identified risks, such as encryption for data protection or employee training on anti-bribery laws.
3. Internal Controls and Monitoring
   • Internal Control Framework : An effective compliance system involves robust internal controls designed to ensure that the organization is adhering to laws, regulations, and internal policies.
   • Ongoing Monitoring : Continuous monitoring of business processes, transactions, and operations to detect any non-compliance issues in real time. This may include automated tools for monitoring transactions, audits, and reporting.
   • Auditing and Reporting : Regular internal audits and external reviews to ensure compliance with relevant laws and company policies. Reports are generated to inform stakeholders about compliance status.
4. Documentation and Record Keeping
   • Records Management : Keeping accurate and up-to-date records of compliance-related activities, including audits, training sessions, risk assessments, and compliance reports.
   • Document Retention Policies : Ensuring that records are retained for the necessary period in line with legal or regulatory requirements.
   • Traceability : Maintaining traceability of actions, such as approvals or actions taken to address compliance issues, in case of future investigations.
5. Training and Awareness
   • Employee Training : Regular training programs to ensure employees understand the organization's compliance policies, ethical standards, and legal obligations.
   • Ongoing Awareness : Ongoing communication and awareness campaigns to keep employees informed about changes in regulations and compliance procedures.