Sr. Model Risk Analyst, Financial Crimes & Compliance

Overview

This is a remote role that may be hired in several markets across the United States. The Senior Model Risk Management Analyst position is within First Citizens Bank’s Model Risk Management (MRM) team, with a primary focus on conducting validations of the Bank's Financial Crimes and Compliance models, including BSA/AML Transaction Monitoring, Customer Risk Scoring, and OFAC Screening systems. A successful candidate must possess strong knowledge of regulatory requirements and guidance.

• Conduct independent model validations to ensure BSA/AML models align with business objectives and design objectives. Verify that models are performing as expected and identify potential limitations, assessing potential impact.
• Write detailed model validation reports presenting the results from a thorough model validation plan.
• Communicate model validation findings to model owners, senior management, and regulatory agencies as required.
• Perform annual reviews and review ongoing monitoring reports to ensure that models are performing as intended.
• Interact with all key stakeholders—including model users, owners, vendors, Model Risk Governance, and other validators—throughout the model lifecycle.
• Suggest enhancements to the existing BSA/AML validation process, including validation templates, ongoing monitoring, and automation of repetitive tasks.
• Guide junior team members on model validations, as needed.

• Bachelor's Degree with 6 years of experience OR High School Diploma/GED with 10 years of experience in model risk management.

• Advanced degree (master’s or Ph.D.) in a quantitative field such as Data Science, Economics, Finance, Applied Statistics, or a related discipline.
• 10+ years of experience in model development and implementation or model validation within the financial industry.
• 6+ years of fraud analytics experience with software (Python, SAS, R).
• Experience developing and/or validating Financial Crimes and Compliance models, including BSA/AML Transaction Monitoring, Customer Risk Scoring, and OFAC/Sanctions Screening systems.
• Well‑versed with performance metrics and use cases for each.
• Experience maintaining or validating vendor‑developed models.
• Strong written communication skills demonstrated through clear, comprehensive technical reports.
• Strong analytical skills and ability to find patterns in transactional data.
• Advanced programming skills in Python, SQL, SAS, or R.
• Experience using SQL to pull data from enterprise warehouse databases.
• Experience developing and/or validating vendor models and rule‑based models.
• Exceptional understanding of the banking industry and business lines.
• Experience communicating validation standards and technical concepts to key stakeholders.
• Thorough understanding of federal guidance related to model risk management.

The base pay for this position generally ranges from $ to $, with actual starting pay determined by skills, experience, location, and other non‑discriminatory factors. Variable incentives, bonuses, benefits, and other awards may also be included.

Benefits are an integral part of total rewards. First Citizens Bank is committed to providing a competitive and thoughtfully designed benefits program. More information can be found at