Description

Coverage Strategist Specialist - Description

Model Management and Optimization (MMO) is part of Huntington’s risk management BSA/AML department, which encompasses core segments including Financial Intelligence Unit (FIU), Customer Risk Management (CRM), Office of Foreign Asset Controls (OFAC), and BSA Compliance.  MMO is responsible for developing and implementing the requirements and standards for the firm's Enterprise-Wide Anti-Money Laundering and OFAC Sanctions Programs.

This posting is for a position with the Coverage Strategy team, within MMO, whose mandate it is to strategically design, develop and maintain an efficient and effective AML transaction monitoring model, Customer Risk (KYC) model, High Risk Country model, and OFAC screening model. The program must be robust, sustainable and able to adapt to a constantly evolving risk landscape to respond to emerging risks, money laundering trends, new products and services, and technologies that support the financial industry.   

The Coverage Strategist Specialist will work closely with MMO’s quantitative analysts, BSA/AML core function leadership, Segment Risk, as well as directly with Lines of Business (LOBs) to develop, refine and implement ongoing monitoring strategies to ensure proper BSA/AML risk coverage.  The Coverage Strategist will maximize the use of systematic and non-systematic sources of intelligence, work with lines of business to develop coverage for new products and services, assist MMO’s Data Management team in implementing new and modified files to support monitoring strategies and clearly communicate strategies to senior leadership.  

It will be key for this person to be in close contact with LOB and Compliance stakeholders to ensure a clear understanding of the monitoring strategies required for local regulation.  Additionally, this person will help the Coverage Strategy team to organize deliverables and to present and draft documentation for senior management discussions, exams and audits.  The successful candidate will need strong communications skills, the ability to work independently yet collaboratively across BSA and Huntington’s lines of business.    In addition, the candidate needs to demonstrate knowledge BSA/AML risks and guidance, banking products and services, as well as related regulatory and compliance standards.  The candidate will demonstrate the ability to exercise sound judgment, as well as the ability to utilize and leverage data analytics or key metrics.

Key Responsibilities:

• Execute against Department’s strategic planning and ongoing customer monitoring program roadmaps; Identify and develop solutions to capitalize upon monitoring opportunities
• Research, document, and communicate monitoring strategies and model development efforts to internal and external stakeholders;
• Analysis of regulatory guidance, industry red flags, and emerging trends against Huntington risk BSA/AML/CTF exposure (customers, products and services, geographies, and transactions)
• Maintain understanding of the Bank’s high-level products, services, and customers, as well as BSA/AML Operational processes and output
• Analyze data and determine appropriate threshold levels, with support from Quantitative/Modeling Analysts
• Participate in the development of training and execution of strategies within the function or department
• Via established operational procedures, conduct and/or review due diligence reviews for potential high-risk customers and/or transaction reviews to identify potential suspicious activity within a defined service level agreement; prepare, maintain and/or monitor reports in compliance with corporate and regulatory requirements as necessary

Qualifications:

• Bachelor's degree or work experience equivalent is required;
• 3+ years’ experience in data analysis/statistics, computer science/information systems, mathematics, economics, risk management or compliance; may include relevant education experience
• 1+ years’ experience within BSA/AML/CTF/OFAC investigations, risk management, regulatory environment, or legal/compliance required

Preferred Qualifications:

• CAMS certification or related AML/CTF certification is preferred (required within two years of obtaining position)
• Exceptional research and analytical skills with the ability to analyze large amounts of data, de