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Kraken, a leading crypto platform founded in 2011 and part of the Payward financial infrastructure group, is seeking a Model Risk Management Specialist to join its compliance and risk team. The role focuses on validating and managing Transaction Monitoring, Customer Risk Assessment, and Screening models used for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) purposes.
Key responsibilities include performing independent validation of AML/CFT models—including AI models built in Claude or ChatGPT—by reviewing documentation, assessing performance accuracy and stability, and identifying potential biases. You will ensure compliance with relevant regulations including EU AML/CFT Directives, US BSA/AML regulations, and FATF recommendations. The role requires conducting risk assessments to identify AML/CFT risks associated with transaction monitoring and customer risk assessment models, including higher-risk customer segments, products, and geographies.
You will develop and implement procedures for ongoing model monitoring and maintenance, including annual reporting and certification, performance tracking, and regular model reviews. Collaboration is central to the role—you'll work with model engineering teams, AML/CFT subject matter experts, business units, and risk management teams. Documentation and reporting responsibilities include preparing model validation reports, risk assessments, and regulatory compliance reports. Additionally, you will contribute to developing and refining model validation frameworks and identifying industry best practices.
Required qualifications include a bachelor's degree in a quantitative field (mathematics, statistics, computer science, or engineering) and 3+ years of experience in model validation, risk management, or a related field, preferably in AML/CFT. You must have strong understanding of machine learning and statistical modeling techniques, deep knowledge of fiat and crypto payment flows, and proficiency in programming languages such as Python, R, or SQL. Experience with data visualization tools (Tableau, Power BI) and a strong understanding of financial markets, products, and services are essential. Excellent written and verbal communication skills are required to articulate complex technical concepts to non-technical stakeholders.
Nice-to-have qualifications include professional certifications (FRM, CDA, CAP), experience with AML/CFT transaction monitoring systems, knowledge of cloud-based technologies, and familiarity with agile development methodologies.
