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Georgia Fintech Academy
Georgia Fintech Academy

Director, Model Risk Management



Bengaluru, Karnataka, India · Indiana, USA
Posted on Thursday, July 11, 2024

Company Description

Visa is a world leader in payments and technology, with over 259 billion payments transactions flowing safely between consumers, merchants, financial institutions, and government entities in more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive while driven by a common purpose – to uplift everyone, everywhere by being the best way to pay and be paid.

Make an impact with a purpose-driven industry leader. Join us today and experience Life at Visa.

Job Description

The Director, AML and Sanctions Model Risk Management will be responsible for developing and enhancing Visa’s global AML and Sanctions model standards, methodologies, procedures, governance, tuning and validation activities to strengthen and unify AML & Sanctions model risk practices across all entities. You will function as an integral member of the global AML and Sanctions organization and be responsible for all aspects of the AML and Sanctions model risk program. The successful candidate will lead efforts across Visa entities to ensure that AML and Sanctions models are appropriately designed, implemented, and managed including but not limited to conceptual soundness, model implementation and use, model documentation, model performance monitoring, governance, tuning and optimization.

Additionally, you will:

  • The Director of Model Risk Management plays a crucial role in promoting risk excellence culture, partnering with stakeholders in ensuring the robustness of Model Risk Management framework
  • Lead efforts to develop and maintain model governance documentation and performance monitoring, including periodically presenting results to AML and Sanctions Leadership
  • Oversees model risk management across the entire model life cycle - development, validation, implementation and retirement, ensuring that adequate controls are in place to manage model risk
  • Collaborate with internal stakeholders across business units and regulated entities to enhance alignment in implementing MRM policy/standards and promote MRM best practices
  • Manage the model inventory and annual attestation process to ensure its completeness and accuracy. Work with key stakeholders across regulated entities to enhance the oversight and control of the adherence to the MRM standards
  • Assist with ongoing KRI review of model output to identify model drift/breaches and ensure appropriate periodic or event-based tuning, with focus on both efficiencies and effectiveness
  • Manage the model finding inventory while engaging stakeholders to ensure appropriate remediation actions are executed in a timely and effective manner
  • Act as a strategic partner for initiatives and changes across Visa entities, including working with business, compliance or technology partners to understand requirements and provide solutions while ensuring appropriate risk mitigation
  • Ensure appropriate documentation in model development, tuning, and appropriate independent validation coverage and documentation of independent review
  • Direct and maintain tuning schedules for applicable models, including analyzing outputs, documenting results, and presenting recommended changes along with impact analysis to AML and Sanctions leadership
  • Act as the global point-of-contact for Visa Model Risk Management and responding to MRM and regulatory exam inquiries, including representing Visa’s global approach and execution, facilitating walkthroughs and requisition of document/data requests, actively engaging in status meetings, and providing updates to AML and Sanctions leadership as well as the MRM working group
  • Build relationships across Visa model owners, data scientists, Model Risk Management, Audit, and third-party vendors.
  • Use subject matter expertise and analytics to proactively identify and address gaps, and identify emerging risks
  • Lead remediation efforts for model-related issues identified through exams, audits, and model validations


Basic Qualifications
- 10 or more years of work experience with a Bachelor’s Degree or at least 8 years of work experience with an Advanced Degree (e.g. Masters/ MBA/JD/MD) or at least 3 years of work experience with a PhD
- 8 years of implementing AML/ATF, Bank Secrecy Act (BSA), USA PATRIOT Act, and Sanctions programs at a Bank FI or MSB, in the payments industry a plus (but not essential)

Preferred Qualifications
- 12 or more years of work experience with a Bachelor’s Degree or 8-10 years of experience with an Advanced Degree (e.g. Masters, MBA, JD, MD) or 6+ years of work experience with a PhD
- 10+ years of compliance or risk and control experience, preferably with a financial institution, payments company, or other financial services company
- Bachelors or equivalent combination of education and experience in statistics, mathematics, financial crime, data analytics, forensic accounting, computer sciences or related fields.
- Deep experience designing and implementing AML and Sanctions compliance model programs with a banking institution or professional services firm.
- Experience with managing and meeting federal regulatory model risk supervision exams and expectations.
- Knowledge of statistical and machine learning models (e.g., logistic regression, time series analysis, random forests, SVMs, XGBoost, CNNs/RNNs)
- Experience with and knowledge of AML and Screening technology and systems
- Experience managing system configurations and performance output of AML and Screening technologies.
- Strong understanding of relevant BSA/AML and sanctions requirements and industry best practices, related industry certifications a plus
- Ability to effectively collaborate and influence to lead cross-functional teams

Additional Information

Visa is an EEO Employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability or protected veteran status. Visa will also consider for employment qualified applicants with criminal histories in a manner consistent with EEOC guidelines and applicable local law.