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Sr. Business Analyst in Cleveland, OH at KeyBank

Date Posted: 2/23/2021

Job Snapshot

Job Description

Working as a member of the Financial Crimes Risk Surveillance (FCRS) team within Financial Crimes Governance (FCG), the Senior Business Analyst is responsible for transaction monitoring program related initiatives that are key to the success of KeyBank's BSA/AML/OFAC program. The candidate is expected to develop and maintain the transaction monitoring coverage assessment and framework for developing new models (scenarios), enhancing existing models, and decommissioning inefficient models. The candidate is expected to develop an understanding of various BSA/AML transaction monitoring applications/models, underlying data and workflow, business and functional requirements, and assist in documenting compliance rationale for the system configurations. The candidate is also expected to assist in model ownership related activities including periodic review and updates of model inventory, model change management controls process, model issue escalation and remediation, and model finding updates and tracking. The role works closely with Enterprise Security Services (ESS) and Risk Modeling & Analytics (RM&A) and Model Risk (MR) teams on initiatives related to BSA/AML model development, optimization, and validation including review of scenarios’ intent, underlying design, and review of effective alerts. The candidate must possess the strong ability to document and report on matters such as risk and coverage assessment, business requirements, data analysis, risk impact, etc. to audiences including peers, business partners, regulators, and senior management. The candidate must also possess strong investigatory skills that help identify potential AML and/or model optimization concerns.

Essential Job Functions
  • Responsible to create and maintain transaction monitoring coverage assessment; Provide subject matter expertise and documentation support relative to the enterprise wide BSA/AML risk assessments.
  • Responsible to create and maintain monitoring requirement documents to develop new models (scenarios or rules) based on FFEIC guidance and subject matter expert inputs. Responsible for maintaining the overall model documentations as per Model Risk (MR) standards
  • Responsible for model ownership related activities including periodic review and updates of model inventory, model change management controls process, model issue escalation and remediation, and model finding updates and tracking. Assist FCRS Manager for proper oversight on BSA/AML and OFAC models for ensuring ongoing appropriateness of the model and its output
  • Conduct monthly non-effective alerts (false positives) review to assure program efficiency and identify further investigatory and model enhancements.
  • Responsible for supporting ESS and RM&A in the review of alerts and SARs for ongoing tuning as well as efforts related to retiring ineffective scenarios (models). Review the scenario intent and underlying design and provide recommendations for enhancements.
  • Assist in drafting and maintaining the framework/methodology for developing new scenarios and retiring existing scenarios. Work with FCRAA manager and subject matter experts in the analysis of internal referrals, legal inquiries, alerts, cases, and SARs to identify trends and patterns and make recommendations to improve overall coverage and efficiency.
  • Assist in strategizing the transaction monitoring initiatives for improving the effectiveness and efficiency of the program. Provide supports to create and maintain executive-level reports and dashboards.
  • Identify appropriate systems access related to Interim Monitoring initiatives and conduct sample alert testing. Assist in designing and conducting the investigative training sessions for new monitoring scenarios and organized monthly touchpoint meetings to discuss the effectiveness.
  • Assist in preparing, updating, and maintaining the transaction monitoring policy and procedures and other related documents.
  • Participate in bi-weekly AML Model Working Group meetings.
  • Research and gather data from Key systems (e. g., core banking, client due diligence, onboarding and transactions processing, policies and procedures systems) to support FCG’s Subject Matter Experts (SMEs).
  • Keep abreast of new rules and regulations as well as current surveillance and screening techniques. Act as a transaction monitoring subject matter expert to support business partners across the institution.
  • Assist with other requests as required ensuring team objectives are achieved.
  • Various ad-hoc requests that help assure the compliance and efficiency of the AML program.

Required Qualifications
  • Bachelor’s degree in Business Administration, Mathematics, Criminal Justice or related field and 3+ years of financial crimes investigation experience.
  • One or more years of experience in AML investigation and/or AML model optimization, or a similar area.
  • Knowledge of banking laws and regulations with emphasis on BSA, AML, and OFAC.
  • Knowledge of banking products and services.
  • Prior experience working with AML transaction monitoring and customer due diligence applications.
  • Strong research, analytical, reasoning, and problem-solving skills.
  • Ability to adapt quickly and succeed in a fast-paced and dynamic environment.
  • Goal-oriented and able to work independently to achieve results.
  • Strong verbal and written communication skills.
  • Strong computer skills (proficiency with MS Office programs required).
  • Familiarity with banking systems and how to maximize the use of customer and transaction data within these systems.

Preferred Qualifications
  • CAMS certification desired.
  • Prior experience working with AML transaction monitoring software and case management applications.
  • Ability to understand AML transaction monitoring models at a theoretical level and explain/document them appropriately for an in-depth technical review.
  • Familiarity with Tableau or other business intelligence tools for visualizing data.
  • Master’s degree in business, criminal justice, economics, information technology, computer science or related field.
  • Experience in financial service industry or big four consulting


KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to engaging a diverse workforce and sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.


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