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Head of Financial Crimes Models & Analytics

Fidelity Investments
Boston, USA
Closing date
Mar 4, 2024

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Job Description:
The Head of Financial Crimes Models & Analytics will report to the Head of Financial Crimes / Chief AML Officer and lead efforts to reasonably ensure compliance with applicable Bank Secrecy Act (BSA), USA PATRIOT Act, and Anti-Money Laundering (AML) regulations. This is done via the design, development, execution and maintenance of the firm's transaction monitoring and customer risk rating models designed to effectively mitigate financial crimes risk in support of all Fidelity business units (BUs) in the US.

As the Head of Financial Crimes Models & Analytics, you will be responsible for the strategic direction of the financial crimes transaction monitoring programs, ensuring they're effective, scalable and closely aligned with the unique risks of Fidelity's businesses. You will partner with colleagues across Fidelity's Corporate Technology, Compliance, Investigations, Legal and Risk groups to build software, data science and analytics solutions. You will work closely with the Head of Financial Crimes Compliance, BU AML Officers, and colleagues in Fidelity's Surveillance, Investigations, Legal and Compliance functions, and will serve as a member of the Financial Crimes Compliance leadership team and several Financial Crimes Compliance technology, strategy, and governance forums and committees.
The Responsibilities of this role
  • Lead a multi-disciplinary Analytics, Data Science and Data Engineering team with responsibility for design, development, execution and maintenance of financial crimes transaction monitoring models in support of Fidelity's brokerage, clearing, cryptocurrency, capital markets and institutional businesses
  • Own all transaction monitoring and screening scenarios, threshold selection, threshold/model tuning, vendor products/tools and detection strategies for Financial Crimes Compliance
  • Lead coverage assessments and typology design, development, and implementation for new or expanded Fidelity products, services, and businesses
  • Partner with Model Validation & Quantitative Risk, Audit, and Fidelity's Algorithm Review Board during analysis and testing of Financial Crimes models
  • Stay ahead of industry trends, emerging AML/Terrorist Financing risks, and the financial crimes compliance regulatory landscape
  • Responsible for all Financial Crimes Compliance business intelligence, data visualizations, executive reporting, operational reporting, and data-driven program insights
  • Supervise a suite of production-grade artificial intelligence and machine-learning Financial Crimes models. Continually seek out opportunities to expand use of AI/ML capabilities to scale and improve model performance and program efficiency
  • Present findings and recommendations on model performance, enhancement, or augmentation requirements to the Head of Financial Crimes Compliance
  • Oversee Above the Line (ATL) and Below the Line (BTL) model testing/tuning and associated model control activities
The Expertise and Skills You Bring
  • A Bachelor's degree or equivalent experience in Business, Finance, Computer Science, Data Science
  • MBA or master's degree or equivalent experience with strong academic credentials (preferred)
  • Leader with vision and active participant in the Anti-Money Laundering, Data Analytics Financial Crimes Compliance and/or SIFMA communities
  • 10+ years of AML-related BSA/AML compliance, technology and analytics experience at a regulatory agency, large bank, major consulting firm, introducing or clearing broker-dealer, asset manager, money service business, FinTech
  • Experience in a senior Financial Crimes compliance role in the securities and/or asset management industry, with demonstrated ability to operate across diverse business units, innovative product sets and a broad array of customer segments
  • Understanding of supervised and unsupervised machine learning algorithms such as decision trees, isolation forests, autoencoders/neural networks, linear/logistic regression, clustering, etc.
  • Prior experience supporting teams using Python (Pandas, stats model, plotly, etc.), SQL, R, Alteryx, Tableau, Power BI, GitHub, DBT, ModelOp, Snowflake, Azure, etc.
  • Blend of technical and business expertise with an ability to clearly convey how the technical components of a model are impacted by business factors (e.g., change in products, services, customer bases, market conditions, thresholds, data feeds, etc.)
  • Data and statistical mastery. Understanding of relational databases and an ability to extract data and convert it into usable forms
  • Knowledge of Bank Secrecy Act, USA PATRIOT Act, Anti-Money Laundering Act of 2020, OFAC and FINRA Rule 3310
  • Experience in interacting with regulators, including the SEC, FINRA, OCC and NY DFS; serve as subject matter expert in response to function-related inquiries from regulatory authorities
  • Familiarity with the OCC's Supervisory Guidance on Model Risk Management
  • Knowledge/experience with Agile frameworks and methodologies
  • Excellent verbal, written communication, and presentation skills
  • Interest in cryptocurrencies and the broader crypto ecosystem in general
  • Certified Anti-Money Laundering Specialist (ACAMS)/Certified Fraud Examiner (CFE)/Certified AML and Fraud Professional (CAFP) is a plus
Behavioral Attributes
  • A genuine love of technology, data, and a passion for fighting financial crime!
  • Executive presence, ability to inspire confidence and effectively lead high-performing teams
  • Strong quantitative and presentation skills with strict attention to detail
  • Able to tailor communications on complex quantitative findings to a wide range of internal stakeholders
  • Great demeanor, leader, teammate, and effective contributor
  • Ability to successfully prioritize and execute in a fast-paced environment with tight deadlines and competing priorities
  • Ability to influence, build and maintain close working relationships across complex organizations and business units
  • Balances pace over perfection with a risk-based lens that separates the important from the trivial
  • Unassailable integrity with strength of character to express opinions and challenge the status quo.
The Value You Deliver
  • Positioning the Financial Crimes Compliance program to reasonably ensure strict compliance with applicable laws and regulations while protecting Fidelity's customers and brand
  • Effectively leading a forward-looking model development strategy at scale that will effectively and efficiently meet heightened regulatory expectations, support growth in business products and services, and enable compliance/risk/operational teams. This will require driving a strategy that embraces data analytics, machine learning and artificial intelligence for proactive anomaly detection.
  • Focus on improving compliance analytics, metrics, transparency and communications by using dashboards and business intelligence that galvanize leaders to action
  • Evaluate, upgrade and encourage talent across a high-performing team of compliance, data science, data engineering and analytics professionals. Success will depend on identifying and developing high quality successors for key roles, developing needed skills, crafting a culture of inclusion, and growing associate mobility.
The Team
The Financial Crimes Compliance team is part of Fidelity's broader Compliance organization. Financial Crimes Compliance strives to protect Fidelity's businesses, clients, customers, and reputation by providing effective and timely analytical and investigative services, enabling us to provide the optimal balance of risk management and customer experience.

Financial Crimes Models & Analytics is an agile development team supporting all phases of the model development life cycle. We're looking for curious individuals that love data, have a passion for technology and cryptocurrencies and enjoy a team-based environment. You will work with vast amounts of data across numerous Fidelity business lines. You'll have the opportunity to learn, test and implement new technologies supporting both existing and new Fidelity businesses.

The base salary range for this position is $123,000-$207,000 per year.

Placement in the range will vary based on job responsibilities and scope, geographic location, candidate's relevant experience, and other factors.

Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation.

We offer a wide range of to meet your evolving needs and help you live your best life at work and at home. These benefits include comprehensive health care coverage and emotional well-being support, market-leading retirement, generous paid time off and parental leave, charitable giving employee match program, and educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career. Note, the application window closes when the position is filled or unposted.
Company Overview

Fidelity Investments is a privately held company with a mission to strengthen the financial well-being of our clients. We help people invest and plan for their future. We assist companies and non-profit organizations in delivering benefits to their employees. And we provide institutions and independent advisors with investment and technology solutions to help invest their own clients' money.

Join Us

At Fidelity, you'll find endless opportunities to build a meaningful career that positively impacts peoples' lives, including yours. You can take advantage of flexible benefits that support you through every stage of your career, empowering you to thrive at work and at home. Honored with a , we have been recognized by our employees as a top 10 Best Place to Work in 2024. And you don't need a finance background to succeed at Fidelity-we offer a range of opportunities for learning so you can build the career you've always imagined.

At Fidelity, our goal is for most people to work flexibly in a way that balances both personal and business needs with time onsite and offsite through what we're calling "". Most associates will have a hybrid schedule with a requirement to work onsite at a Fidelity work location for at least one week, 5 consecutive days, every four weeks. These requirements are subject to change.

At Fidelity, we value honesty, integrity, and the safety of our associates and customers within a heavily regulated industry. Certain roles may require candidates to go through a preliminary credit check during the screening process. Candidates who are presented with a Fidelity offer will need to go through a background investigation, , and may be asked to provide additional documentation as requested. This investigation includes but is not limited to a criminal, civil litigations and regulatory review, employment, education, and credit review (role dependent). These investigations will account for 7 years or more of history, depending on the role. Where permitted by federal or state law, Fidelity will also conduct a pre-employment drug screen, which will review for the following substances: Amphetamines, THC (marijuana), cocaine, opiates, phencyclidine.

We invite you to Find Your Fidelity at .

Fidelity Investments is an equal opportunity employer. We believe that the most effective way to attract, develop and retain a diverse workforce is to build an enduring culture of inclusion and belonging.

Fidelity will reasonably accommodate applicants with disabilities who need adjustments to participate in the application or interview process. To initiate a request for an accommodation, contact the HR Accommodation Team by sending an email to , or by calling 800-835-5099, prompt 2, option 3.
We welcome those with experience in jobs such as Controller, Retail Sales Representative, and Accounting Assistant and others in the Accounting and Finance to apply.

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