Model Risk Management Specialist
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Job Description
Model Risk Management Specialist validating AML/CFT, transaction monitoring, and customer risk models. Supporting Kraken’s globally accessible crypto and open-finance infrastructure.
Responsibilities:
- Perform independent validation of Transaction Monitoring, Customer Risk Assessment, Screening, and AI models built in Claude or ChatGPT
- Review pre- and post-development model documentation, data quality, accuracy, access, and testing methodologies
- Assess model performance, accuracy, and stability
- Evaluate model risk and identify potential biases
- Review AI models for the AML/CFT program
- Ensure Transaction Monitoring and Customer Risk Assessment models comply with EU AML/CFT Directives, US BSA/AML regulations, and FATF recommendations
- Conduct AML/CFT risk assessments, identifying higher-risk customer segments, products, and geographies
- Assess the effectiveness of controls and mitigants
- Develop and implement ongoing model monitoring and maintenance procedures
- Complete annual reporting and certification
- Track model performance, identify degradation, and conduct regular model reviews and updates
- Collaborate with Model Engineering, model owners, AML/CFT subject matter experts, business units, and risk management teams
- Prepare model validation reports, risk assessments, and regulatory compliance reports
- Develop and refine model validation frameworks and identify best practices and industry standards
Requirements:
- Bachelor's degree in a quantitative field such as mathematics, statistics, computer science, or engineering
- 3+ years of experience in model validation, risk management, or a related field, preferably in AML/CFT
- Strong understanding of machine learning and statistical modeling techniques
- Deep understanding of fiat and crypto payment flows
- Proficiency in Python, R, or SQL
- Experience with data visualization tools such as Tableau or Power BI
- Strong understanding of financial markets, products, and services
- Excellent written and verbal communication skills, with the ability to articulate complex technical concepts to non-technical stakeholders
- Professional certifications such as FRM, CDA, or CAP are nice to have
- Experience with AML/CFT transaction monitoring and Customer Risk Assessment systems is nice to have
- Knowledge of cloud-based technologies is nice to have
- Experience with agile development methodologies is nice to have
Benefits:
- Applicants may redact or remove age, date of birth, or educational attendance/graduation dates from resumes
- Qualified applicants with criminal histories are considered consistently with the San Francisco Fair Chance Ordinance
- Job-related skills or work-style assessments are applied consistently and are not the sole basis for employment decisions
- Equal opportunity employment
- Kraken product dogfooding is required for everyone once they join Kraken
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