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Quantitative Scenario Analyst - Anti-Money Laundering (AML)

Bank of America

Bank of America

Charlotte, NC, USA · Chicago, IL, USA · Las Vegas, NV, USA · United States · Remote
Posted on Friday, May 31, 2024

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!


Global Financial Crimes Automated Detection & Monitoring team seeks a Quantitative Scenario Analyst – Anti-Money Laundering (AML) to conduct independent testing and review of complex models used to monitor and mitigate money laundering risk. These scenarios identify potentially suspicious behaviors for further evaluation by our in-house investigation teams. The candidate should exhibit familiarity with industry practices and have knowledge of up-to-date AML techniques. The candidate should be able to provide both thought leadership and hands-on expertise in methodology, techniques, and processes in overseeing statistical and machine learning models to manage the bank’s AML models and model systems.

The Role will interact with a wide variety of stakeholders including Financial Crimes Investigations, business risk managers, model developers, model risk management, model implementation, and technology teams. The qualified candidate will be responsible for overseeing a broad range of model risk oversight activities, including:

• Performing in-depth analysis on the Bank’s AML model suite and clearly articulating a holistic picture of model performance, monitoring and targeted assessments.
• Performing independent model validation, annual model review, ongoing monitoring report review, required action item review, and peer review.
• Review, critical assessment, and challenge of AML models on conceptual soundness, assumptions and limitations, data, developmental evidence in support of modeling choices, performance, implementation, and documentation
• Communicating model performance to model stakeholders, including risk management, model development, model risk, and senior management with clear conclusions regarding accuracy and remediation areas as required
• Providing hands-on leadership for projects pertaining to AML Models to effectively challenge and influence the strategic direction and tactical approaches of these projects.
• Communicating and working directly with relevant modeling teams and their corresponding stakeholders
• Acts as a senior level resource or resident expert on analytic/quantitative modeling techniques used for Anti-money laundering.

This role is also responsible for defining the vision and roadmap for a product or technology solution, defining and prioritizing deliverables in the product book of work, and articulating this to both business stakeholders and technology development teams. The Sr. Product Owner/Sr. Business Analyst is experienced in the role of a Product Owner, expert of the product, and have a deep understanding of the business and/or technology domain, while also having advance quantitative/analytic skills to influence the Financial Crimes program strategic transaction monitoring and data management direction.


  • Access and Identity Management
  • Production Support
  • Regulatory Compliance
  • Risk Management
  • Critical Thinking
  • Issue Management
  • Policies, Procedures, and Guidelines Management
  • Solution Design
  • Written Communications
  • Coaching
  • Reporting
  • Strategy Planning and Development
  • Talent Development
  • Test Engineering

• Bachelor's Degree (or Higher) in a quantitative field such as Mathematics, Computer Science, Statistics or 5+ years of experience in oversight and understanding of Anti-Money Laundering models and systems

• Fluency in Python, SAS and SQL
• Strong familiarity with the industry practices in the field and knowledge of up-to-date Anti Money Laundering techniques
• Proficiency in Microsoft Excel / data analytics; ability to analyze and manipulate large data sets
• Flexible to perform other functions as requested by management
• CAMS certification (preferred)


1st shift (United States of America)

Hours Per Week: