Model Risk Management Specialist

As a Model Risk Management Specialist at Kraken (Payward), you will ensure that Transaction Monitoring, Customer Risk Assessment, and Screening models for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) are robust, effective, and compliant with regulatory requirements. You join a team at one of the world's longest-standing crypto platforms, trusted by over 10 million individuals and institutions globally.

What you'll do

• Perform independent validation of Transaction Monitoring, Customer Risk Assessment, and Screening models, including AI models built in Claude or ChatGPT, by reviewing model documentation, data quality, accuracy, access, and testing methodologies
• Assess model performance, accuracy, stability, and potential biases
• Ensure Transaction Monitoring and Customer Risk Assessment models comply with relevant AML/CFT regulations, including EU AML/CFT Directives, US BSA/AML regulations, and FATF recommendations
• Conduct risk assessments to identify potential AML/CFT risks, including higher-risk customer segments, products, and geographies, and assess the effectiveness of controls and mitigants
• Develop and implement procedures for ongoing model monitoring and maintenance, including annual reporting and certification, tracking model performance and degradation, and conducting regular model reviews and updates
• Collaborate with model engineering teams, AML/CFT subject matter experts, business units, and risk management teams
• Prepare and maintain high-quality documentation including model validation reports, risk assessments, and regulatory compliance reports
• Contribute to the development and maintenance of model validation methodologies, frameworks, and industry best practices

What you bring

• A Bachelor's degree in a quantitative field such as mathematics, statistics, computer science, or engineering
• 3+ years of experience in model validation, risk management, or a related field, preferably in AML/CFT
• A strong understanding of machine learning and statistical modeling techniques
• A deep understanding of fiat and crypto payment flows
• Proficiency in programming languages such as Python, R, or SQL
• Experience with data visualization tools such as Tableau or Power BI
• A strong understanding of financial markets, products, and services
• Excellent written and verbal communication skills, with the ability to articulate complex technical concepts to non-technical stakeholders

Nice to have

• Professional certifications such as FRM, CDA, or CAP
• Experience with AML/CFT transaction monitoring and Customer Risk Assessment systems
• Knowledge of cloud-based technologies
• Experience with agile development methodologies

About Kraken (Payward)

Payward, the parent company behind Kraken, NinjaTrader, Breakout, xStocks, Payward Services, and CF Benchmarks, has spent 15 years building one of the most modern and globally accessible financial infrastructure platforms in the industry. Kraken, founded in 2011, is one of the world's longest-standing crypto platforms offering spot trading, margin, futures, staking, and OTC services for both individual investors and institutional clients.